How do professional read price action?

[Guest oilfxpro]

Professional's are looking a change in supply demand , multiple rejections of a price , up channels in place to confirm more demand ,down channels to confirm higher supply.Usually big bars (more than one give) an indication of change of balance in supply  demand.Break of two higher resistances or two lower  supports indicates change in supply demand.Price action is only a map, anything can happen, after a trade is put on, it can breakdown.

 

Keep your price action simple stupid and use 1 hour plus time frames.

 

https://profitabletraders.wordpress.com/charity-site-intentions/

 

https://priceactionvolmanjames16.wordpress.com/free-education-images/

 

I called a trade on oil here based on price action,The price action told me it was a buy.I like this oil set up The price is sitting at resistance , it is challenging resistance.The trade made  +60.Here is image  

 

 

Here is Euro /usd  trades I took as a result of price action and got two trades.

 

[Guest oilfxpro]

What is going to happen now?

 

2 supports broken

 

[Guest oilfxpro]

The Dow index fell due to higher expected inflation and bond yields. The above price action is confirming it.Maybe this correction will continue.

 

http://www.kitco.com/news/2018-02-02/UPDATE-1-European-bond-yields-rise-as-data-shows-strong-U-S-wage-growth.html

 

 

[Guest oilfxpro]

Here is a price action chart , here resistance has become support  and two resistances are broken.

 

[Guest oilfxpro]

Here is another one on USDJPY where price action (lagging), shows price breaking two resistances and on USD cad  forms nice price action.

 

[Guest oilfxpro]

more on support resistances breaking.

 

here is a chart showing the importance of two supports being broken.Simple price action works.

 

https://community.ig.com/t5/Foreign-Exchange-FX/AUDUSD-a-monthly-close-below-0-8100-would-confirm-a-top/m-p/21899#M2869

 

 

 

[Guest oilfxpro]

Here is a price action chart showing supports , that price wants to remain higher in the past.This long buy went   500  ticks  higher.

 

[Guest oilfxpro]

This is the type of systems I have back tested in the past.80 pips a week profit

 

[Guest oilfxpro]

Price action on  Dax  , price bounces back above bottom of channel once , it is reject  and falls , and rebounds  twice .