PRICE ACTION TRADING CHECK LIST
(ALL ANSWERS HAVE TO BE YES IN ORDER TO TAKE THE TRADE EXCEPT
NUMBER 12. ALSO ONE YES IS ENOUGH FOR QUESTIONS 3 AND 7.)
SECTION
1. Is the setup located in relevant & key S/R? YES
NO
-----------------------------------------------------------------------------------------------2. Is the PA signal a valid, obvious and clear candle pattern? NO
YES
Pin Bar
Engulfing Bar
2BarReversal
-----------------------------------------------------------------------------------------------
3. Is the setup with the relevant trend?
YES
NO
Is the setup located at a very solid & key S/R level? Yes
No
------------------------------------------------------------------------------------------------4. Is the trend located in a relevant pullback (given trend) or Swing H/L (Range
market)?
YES
NO
-----------------------------------------------------------------------------------------------5. Is the setup suggesting a reasonable & good R/R (at least 1:1)? YES
NO
------------------------------------------------------------------------------------------------6. Are we trading away from S/R (Not into them)? YES
NO
------------------------------------------------------------------------------------------------7. Is the PA signal big enough? YES
NO
Is it located at a very solid area? Yes
No
-------------------------------------------------------------------------------------------------8- Are we obeying this rule?:
YES
NO
Bulish Trend
=Trade from
Support
Bearish Trend
= Trade from
Resistance
----------------------------------------------------------------------------------------------------9- Have we taken “VBRN or BRN” stories into the consideration? YES
NO
----------------------------------------------------------------------------------------------------10- Have we taken “Important news and Economic calendar” into the account?
YES
NO
-----------------------------------------------------------------------------------------------------11- IS the PA signal a reversal Signal (Not continuation)?
YES
------------------------------------------------------------------------------------------------------
NO
VETO SECTION:
(Only one “YES = VETO” cancels the trade)
 IS the PA signal located at the middle of range market?
 IS the setup against a very strong trend?
YES
 Did we spot the setup hardly?
NO
YES
YES
NO
 Important notes: We never take the trade without the TRIGGER.
1 - Identify the trade (S/R zone + Price Action setup)
2 - Determine the entry, SL and TP targets
3 - Based on SL, do position sizing and determine the lot size to use
4 - Enter the pending order details into the platform
NO