This trade resulted in a loss due to me not taking the spread into consideration, the price had not reached my area of resistance but because the spread is higher on the NZDUSD this resulted in a loss, the next trade shows that I re-entered based on ...

Understanding Price Action by Bob Volman (notes and examples)

This was on the USDCHF and although it is a major pair it is more stable than other major pairs so I should have probably been more cautious and wait for further confirmation that price was going to go down Here we can see a breakout from the square ...

Understanding Price Action by Bob Volman (notes and examples)

Finally! A win, there was a retracement that occurred near the 25ema and trend line, due to the previous losses I wanted confirmation so I waited for confirmation of a reversal +13 pips image Due to my greed I was not able to get the full 20 pips ...

Understanding Price Action by Bob Volman (notes and examples)

Has you can see the majority of the bearish move was missed due to me neglecting the trendline; so I thought I would be able to still catch a bit of the move with the retracement, however, the round number and 20ema magnetic pull was too strong -10 ...

Understanding Price Action by Bob Volman (notes and examples)

I decided to renter the GBPUSD trade without again taking any consideration to the bullish trendline, in hindsight placing the SL above this trendline would have gained me pips instead of losing it -15 pips image

Understanding Price Action by Bob Volman (notes and examples)

In hindsight I may have taken this trade a tad bit too early without taking the trend line into consideration, this occurred during the UK open and later on, the GBPUSD did fall, so next time I will take the trendline into consideration when ...

Understanding Price Action by Bob Volman (notes and examples)

DAY 1: LIVE TRADING This is a rundown of all my trades I took today: GBPUSD: Lost -8 pips GBPUSD: Lost -15 pips GBPUSD: Lost -10 pips EURUSD: Won +13 pips USDCHF: Lost -10 pips NZDUSD: Lost -6 pips NZDUSD: Won +18 pips Net -18 pips I will now run ...

Understanding Price Action by Bob Volman (notes and examples)

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Pull back reversal with a 20 pip profit image This completes a showcase of my backtest on the EURUSD; where I netted 12 pips having on average 2 trades per day during the US session. I will be posting my live trades from here on and I encourage an ...

Understanding Price Action by Bob Volman (notes and examples)

Classic pattern break from an area of tension with the TP target near the round number +17 pips (I reduced the TP from 20 due to the round number resistance, but in future, unless it is a '00 round number I will not be reducing the TP) image

Understanding Price Action by Bob Volman (notes and examples)

-10 pips, n hindsight I should have sought a stronger breakout from the magnetic '00 round number which is a lot stronger than the '50 round number image

Understanding Price Action by Bob Volman (notes and examples)

This is a questionable trade, some would have stayed in for a loss (like me) or have got out at the technical test to the left -11 pips image

Understanding Price Action by Bob Volman (notes and examples)

There was a lot going on in this trade We have a double top/M pattern giving us a technical test to the left of entry There is a supporting upward trend So when a bullish breakout occurred at the grey vertical line which took out the 25ema I was ...

Understanding Price Action by Bob Volman (notes and examples)

Here the initial signal came from the first bullish bar, but I wanted to get a better price so I waited for a bit of a retracement and exited at the '00 round number resistance (grey line) for a cheeky +11 pip gain whilst maintaining a moderate ...

Understanding Price Action by Bob Volman (notes and examples)

This trade resulted in a break-even (BE), there was no way of me being able to tell that this was going to pull back as no technical test/round number was in the way of the bearish move image

Understanding Price Action by Bob Volman (notes and examples)

Finally! A perfect set up, this is part of the pull-back reversal set up where we can clearly see a retracement of ~50% of the bearish move into a technical test (green trend line and CS noise to the left) plus it is touching the 25ema giving us the ...

Understanding Price Action by Bob Volman (notes and examples)

This is another loss, what I should have done in this backtest was allow the bar next to the signal bar to take it out by at least a pip which would have resulted in a non-trade (-14 pips) image

Understanding Price Action by Bob Volman (notes and examples)

What looked like a bullish breakout with the signal bar being the strong bearish CS, my bias was for a bearish 20pips which resulted in -13 pips, the 50 pip round number target (grey line) was way too strong image

Understanding Price Action by Bob Volman (notes and examples)

I have currently done the first set of backtests (12 of them) which I will post here, please feel free to critique it. This here is a false break which resulted in a loss -14 pips image

Understanding Price Action by Bob Volman (notes and examples)