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I often get asked questions regarding the Price Action Engine, and though I am happy to answer them, I sometimes feel that the questioner would like me to go into some other detail, but I’m never quite sure what that is. I guess what we all want in a testimonial, is an honest appraisal from someone who has clearly and fully experienced the product they are appraising. I think the following email covers that, and should be of interest to anyone who wants to know more about the Price Action Engine.
Good news for the Aussie had caused a big spike in price. If you are familiar with the Price Action Engine, you will understand how juicy these price spikes are to trade, once you understand the mechanics behind them.
The trade was on the AUDUSD, after two days of price moving news. The first bit of news to get things going for the Aussie came out of China, and because it was interpreted by the market as positive, this gave an initial surge to the AUDUSD. The second bit of news came the following day, and resulted in a complete reversal and retracement of all the previous day’s gains.
The Price Action Engine/Paleo Indicator Trade is perfect for trading ALL Time Frames & Time Zones.
Spike-Hammer-Fade-Trade: because the forex price action has been fairly slow lately I’ve been looking for ways to trade sessions where the price basically goes nowhere, unless there is a news announcement that causes it to spike.
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