Trading Without Indicators: This video (and article) will teach you a simple yet very effective trade setup which doesn’t utilize any indicators – purely based on price action and trade volume. Incorporate this to your trading arsenal and surely you will see the results FAST.
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Trading Without Indicators
Hey, my friend, Barry Burns here with top dog trading. Today, we’re talking about trading without indicators. So there’s no indicators on here, not any moving averages, no CCI, RSI, Elemental P, URSD, nothing. All we’ve got are support and resistance around price bars and volume. That’s volume at the bottom, and volume is not an indicator, it’s a statistic, right? So the method I’m going to show you today is very simple and it is only about two things. If you can learn these two things, you’re in. So number one, we’re going to be looking at what price action does when it comes into support or resistance zones. Right at this point, we’re seeing the market come into this resistance of this high and the market participants now, meaning the global people involved in the auction place we call them market, they can do a few things here.
They could either do nothing as they see price action coming into that resistance level. Number two, they could sell into it or short it, let’s say they didn’t have an open position, they’re going to short it. They could also buy, meaning that they’re bullish and that’ll push price level above it, or if they were long they could take some profits, right? There are several different options anyway. If we’re going to buy this breakout, what we want to see obviously is a lot of buying but not buying before resistance. That does not work. In fact, that is the opposite. That would be a bearish pattern. We want to see it with large volume on the breakout. Again, simple concept. So we want a lot of buyers. The first thing is the price action has to break out above that resistance zone, and it does.
Unbelievable simple FOREX trading strategy no indicators
It does right in here, these buyers are all above it. Then we want to see volume being big on that breakout. Again, not before the breakout, but in the breakout. In fact, I’ll go ahead and bring all that right down in there. So that’s what we’re looking for is enthusiastic buying by a lot of people, big orders, on the breakout. Now, let me show you the opposite because that looks very simple, and it is simple, but there can be some examples where this gets a little tricky and can be a little deceiving. So I want to point these out to you as things to watch out for so you don’t lose money. Over here, we get another increase in volume, right? That looks great and you might look at this high here and say there is some resistance and let’s see what the market does.
Now, again, we have to wait for the breakout of that high, and you might say I’ll buy that bar because that breaks out above the high and it’s on good volume. One problem, and a big problem, it’s coming in at this resistance. See that resistance level over there? Therefore, that is actually an exhaustion pattern. In other words, we don’t want to buy a big volume, so called breakout, even though it is a breakout, right? It’s a breakout above this resistance level here. It’s a breakout, but the problem is it run smack dab into the next resistance level and you don’t want to buy into resistance. Another way of saying that is you need some room between where you actually entered the trade and where the next resistance level comes in.
Price action trading
Need Room, therefore your reward. So there’s another resistance right above, smacks right into it, then that’s probably actually a bit of a bearish pattern as it turned out to be here. The market did go up there and then came right back down. So that turns into an exhaustion pattern as I was referring to earlier. We don’t want that. So that is a very important distinction that you need to be watching for. I like to show you a few different examples so that you can get some repetition and also be careful of what to look out for. So here we’ve got this resistance zone and people told me they liked it when I color these yellow, so I’m going to do that. And here, obviously, we get a very big volume spike. Some people would look at that and say, I’m going to trade that breakout.
No, do not trade that breakout. It means the exact opposite. In fact, that is a short signal, potential short signal at least because it didn’t, again, the point is the first thing, step one is we’ve got to have it break out. We got to have price action actually break above that resistance. It doesn’t. It holds it. And if that happens on big volume, well that again is your exhaustion pattern. That is, therefore, a bearish signal. Sometimes, they’re short term bearish, sometimes looking long-term, in this case, came down, came into that support level, went sideways for a while and then down. Alright, one last example so that you can see what the market does. It’s not always neat and tidy, but there’s another option here for you. And actually I prefer this option, and I’m going to share with you my favorite way to trade this.
Intraday trading strategies without indicators
So we’ve got a resistance level here. We come into it. Price does not break out above it. We don’t get really any big volume. It’s kind of medium here as that approaches, but then it dies out, right? It goes back down a little bit. Now, this time, it does break through. Here’s what I wanted to share with you. Does it break through on big volumes? So let’s look at these three bars right here. And the answer is, well, no, it does not. Wait, I thought Barry said when it breaks out, it’s gonna break out and big volume. All right, so here’s the reality of trading, it doesn’t always happen that way. Doesn’t always happen just like that. Wished it did, wished the markets were a little more, you know, cooperative with us, but not so much.
Now, if you noticed the next bar was a little doji neutral bar, that one gets a little more volume and then the one after that, we get some big volume. But now we’ve already broken up quite a bit. Naturally, now it retraces. So as this resistance is here, and again, resistance becomes support now. Here, it was resistance. Now, that same level, it’s become a support. It did break out on some big volume, but by the time it did, it had already moved up a bit and I like to buy wholesale. This will be paying retail in my mind. I don’t pay retail in the markets ever. Another way of saying that is chasing the market.
Price action trading system
I always liked to buy low, sell high, right? That’s a common thing that everyone talks about. But how do you do that? So one of the ways you do that is you don’t buy these gaps. You wait for it to come down. Now again, real life trading. Will it always come down? No. Sometime,s that’s just a gap and go, Oh, you let it go. So what? We wait for the Prime trading opportunities and this is the Prime one. It breaks out on some volume, resistance now becomes support. And now we look to buy off of that level. Now, ironically, I’m going to share with you an indicator and say it’s ironically because this is a video about trading without indicators, so you can just trade it this way. All right? And very simple.
Now, the other side of it is you will get very limited trades. This trade setup doesn’t occur as frequently as some other trade setups do. And I personally do use a couple of indicators. Do you have to? Absolutely not. Can it be helpful? In my opinion, very much so. In fact, I’ve traded with friends in Chicago who didn’t trade with any indicators and I actually learned their method with them and traded with them, except I added my indicators on using their method, but with my indicators, it actually did better. So there’s certain things that indicators are very powerful in showing you, so I’m happy to give you my cycle indicator. Basically, what it does is it tells you when it’s best to enter, what’s the best time, when is the cycle low?
Wrapping up!
When is going to be the lowest low here so you’re not going to get stopped out in the market as it goes back up. And this indicator is amazing, works great. I do sell it, but I want to give it to you, if you’re watching this youtube video, absolutely free. So just send me an email, support@topdogtrading.com. Request the cycle indicator and we’ll get that information over to you right away. Again, no charge for you since you’re a youtube subscriber or even if you’re just a viewer. I encourage you to subscribe, but even if you don’t want to subscribe and you just want the indicator, great. And it works on any charting platform.
So if you liked the video, please go ahead and like it. Click the like button and also write a comment. I love your comments. And also, I’ve got not only the indicator for you, but I’ve also got a free trading course and that free trading course you can get by just clicking the link in the top right hand corner there and you’ll get access to my rubber band trade strategy in that course. And that is a full strategy with entries, exits, profit, stops, all that kind of stuff. A lot longer video than this obviously because we’re giving you all that stuff. Again, for free to my friends out there in youtube land or wherever you are watching this.
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BTW, if you’re interested in the indicator that I use personally for very precise entries and exits, I’m happy to share that with you. Just send me an email at support@topdogtrading.com, and I’ll show you how to get access to that indicator.
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