What is Price Action? – Price Action Trading Explained
什么是價(jià)格行為？– 價(jià)格行為交易解釋

Price action trading is a methodology for financial market speculation which consists of the analysis of basic price movement across time. It’s used by many retail traders and often by institutional traders and hedge fund managers to make predictions on the future direction of the price of a security or financial market.
價(jià)格行為交易是一種金融市場(chǎng)投機(jī)方法，包括對(duì)基本價(jià)格隨時(shí)間變動(dòng)的分析。許多散戶交易員以及機(jī)構(gòu)交易員和對(duì)沖基金經(jīng)理經(jīng)常使用它來預(yù)測(cè)證券或金融市場(chǎng)價(jià)格的未來走向。

Put simply,?price action?is how price changes, i.e., the ‘a(chǎn)ction’ of price. It’s most easily observed in markets with high liquidity and volatility, but really anything that is bought or sold in a free market will generate price action.
簡(jiǎn)而言之，價(jià)格行為就是價(jià)格的變化方式，即價(jià)格的“作用”。在流動(dòng)性和波動(dòng)性高的市場(chǎng)中最容易觀察到這種情況，但實(shí)際上，在自由市場(chǎng)中買賣的任何東西都會(huì)產(chǎn)生價(jià)格行為。

Price action trading ignores the fundamental factors that influence a market’s movement, and instead it looks primarily at the market’s price history, that is to say its price movement across a period of time. Thus, price action is a form a technical analysis, but what differentiates it from most forms of technical analysis is that its main focus is on the relationship of a market’s current price to its past or recent prices, as opposed to ‘second-hand’ values that are derived from that price history.
價(jià)格行為交易忽略了影響市場(chǎng)走勢(shì)的基本因素，而是主要關(guān)注市場(chǎng)的價(jià)格歷史，即它在一段時(shí)間內(nèi)的價(jià)格變動(dòng)。因此，價(jià)格行為是一種技術(shù)分析形式，但它與大多數(shù)形式的技術(shù)分析的不同之處在于，它的主要關(guān)注點(diǎn)是市場(chǎng)當(dāng)前價(jià)格與其過去或近期價(jià)格的關(guān)系，而不是從該價(jià)格歷史中得出的“二手”價(jià)值。

In other words, price action trading is a ‘pure’ form of technical analysis since it includes no second-hand, price-derived indicators. Price action traders are solely concerned with the first-hand data a market generates about itself; it’s price movement over time.
換句話說，價(jià)格行為交易是一種“純粹”的技術(shù)分析形式，因?yàn)樗话ǘ值膬r(jià)格衍生指標(biāo)。價(jià)格行為交易者只關(guān)心市場(chǎng)產(chǎn)生的關(guān)于自身的第一手?jǐn)?shù)據(jù);它是價(jià)格隨時(shí)間的變化。

• Price action analysis?allows a trader to make sense of a market’s price movement and provides him or her with explanations that serve as way for the trader to build a mental scenario to describe the current market structure. Experienced price action traders often attribute their unique mental understanding and ‘gut feel’ of a market as the main reason for their profitable trading.
  價(jià)格行為分析使交易者能夠理解市場(chǎng)的價(jià)格變動(dòng)，并為他或她提供解釋，作為交易者構(gòu)建心理場(chǎng)景來描述當(dāng)前市場(chǎng)結(jié)構(gòu)的方法。經(jīng)驗(yàn)豐富的價(jià)格行為交易者通常將他們獨(dú)特的心理理解和對(duì)市場(chǎng)的“直覺”歸因于他們交易獲利的主要原因。

Price action traders make use of the past history of a market’s price movement, most typically focus on the recent price action of the last 3 to 6 months, with a lighter focus on more distant price history. This price history includes swing highs and swing lows in a market, as well as support and resistance levels.
價(jià)格行為交易者利用市場(chǎng)價(jià)格變動(dòng)的過去歷史，通常關(guān)注過去 3 到 6 個(gè)月的近期價(jià)格走勢(shì)，而較少關(guān)注更遙遠(yuǎn)的價(jià)格歷史。此價(jià)格歷史記錄包括市場(chǎng)的波動(dòng)高點(diǎn)和波動(dòng)低點(diǎn)，以及支撐位和阻力位。

A trader can use a market’s price action to try and describe the human thought process behind a market’s movement. Every participant in a market will leave price action ‘clues’ on a market’s price chart as they trade their markets, these clues can then be interpreted and used to try and predict the next move in a market.
交易者可以使用市場(chǎng)的價(jià)格行為來嘗試描述市場(chǎng)走勢(shì)背后的人類思維過程。市場(chǎng)中的每個(gè)參與者在交易市場(chǎng)時(shí)都會(huì)在市場(chǎng)價(jià)格圖表上留下價(jià)格行為“線索”，然后可以解釋這些線索并用于嘗試預(yù)測(cè)市場(chǎng)的下一步行動(dòng)。

Price Action Trading – Keeping it Simple
價(jià)格行為交易 – 保持簡(jiǎn)單

Price action traders often use the phrase “Keep It Simple Stupid” in reference to the fact that trading is something many people over-complicate by clouding their charts with numerous technical indicators and generally over-analyzing a market.
價(jià)格行為交易者經(jīng)常使用“Keep It Simple Stupid”這句話來指代這樣一個(gè)事實(shí)，即交易是許多人通過用大量技術(shù)指標(biāo)來掩蓋他們的圖表并且通常過度分析市場(chǎng)而使交易變得過于復(fù)雜。

• Price action trading is also sometimes referred to as ‘clean chart trading’, ‘naked trading’, ‘raw or natural trading’, in reference to trading from a simple price action only price chart.
  價(jià)格行為交易有時(shí)也被稱為“干凈圖表交易”、“裸交易”、“原始或自然交易”，指的是從簡(jiǎn)單的價(jià)格行為價(jià)格圖表進(jìn)行交易。

The simple stripped-down approach of price action trading, means there are no indicators on a trader’s charts and no economic events or news is used in making one’s trading decisions. The sole focus is on a market’s price action, and the belief amongst price action traders is that this price action reflects all the variables (news events, eco. data etc.) that influence a market and cause it to move. Therefore, the implication is that it’s much simpler to just analyze a market and trade from its price action, rather than trying to decipher and sort the many different variables affecting a market each day.
價(jià)格行為交易的簡(jiǎn)單簡(jiǎn)化方法意味著交易者的圖表上沒有指標(biāo)，也沒有使用經(jīng)濟(jì)事件或新聞來做出交易決策。唯一關(guān)注的是市場(chǎng)的價(jià)格行為，價(jià)格行為交易者認(rèn)為該價(jià)格行為反映了影響市場(chǎng)并導(dǎo)致市場(chǎng)波動(dòng)的所有變量（新聞事件、生態(tài)數(shù)據(jù)等）。因此，這意味著僅從其價(jià)格行為分析市場(chǎng)和交易要簡(jiǎn)單得多，而不是試圖破譯和排序每天影響市場(chǎng)的許多不同變量。

Price Action Trading Strategies (Patterns)
價(jià)格行為交易策略（模式）

Price action patterns, also called price action ‘triggers’, ‘setups’ or ‘signals’, are really the most important aspect of price action trading, because it’s these patterns that provide a trader with strong clues as to what price might do next.
價(jià)格行為模式，也稱為價(jià)格行為“觸發(fā)器”、“設(shè)置”或“信號(hào)”，確實(shí)是價(jià)格行為交易中最重要的方面，因?yàn)檎沁@些模式為交易者提供了關(guān)于價(jià)格下一步可能做什么的有力線索。

The following diagrams show examples of some simple?price action trading strategies?that you can use to trade the market.
下圖顯示了一些可用于市場(chǎng)交易的簡(jiǎn)單價(jià)格行為交易策略的示例。

• Inside bar pattern??內(nèi)條圖案

An?inside bar pattern?is a two-bar pattern, consisting of the inside bar and the prior bar which is usually referred to as the “mother bar”. The inside bar is contained completely within the high to low range of the mother bar. This?price action strategy?is commonly used as a breakout pattern in trending markets, but it can also be traded as a reversal signal if it forms at a?key chart level.
內(nèi)條形圖案是一種雙小節(jié)狀，由內(nèi)條和前一根條組成，通常稱為 “母條”。內(nèi)側(cè) bar 完全包含在母柱的高到低范圍內(nèi)。這種價(jià)格行為策略通常用作趨勢(shì)市場(chǎng)的突破形態(tài)，但如果它在關(guān)鍵圖表級(jí)別形成，它也可以作為反轉(zhuǎn)信號(hào)進(jìn)行交易。

• Pin bar pattern??銷桿模式

A?pin bar pattern?consists of a single candlestick and it shows rejection of price and a reversal in the market. The pin bar signal works great in a trending market, range bound market and can also be traded counter-trend from a key support or resistance level. The pin bar implies that price might move opposite from the direction the tail is pointing; as it’s the tail of the pin bar that shows rejection of price and a reversal.
針柱線形態(tài)由一根燭臺(tái)組成，它顯示價(jià)格被拒絕和市場(chǎng)反轉(zhuǎn)。pin bar 信號(hào)在趨勢(shì)市場(chǎng)、區(qū)間震蕩市場(chǎng)中效果很好，也可以從關(guān)鍵支撐位或阻力位逆勢(shì)交易。pin bar 意味著價(jià)格可能與尾部指向的方向相反;因?yàn)樗?pin bar 的尾部，顯示拒絕價(jià)格和反轉(zhuǎn)。

• Fakey pattern??Fakey 模式

The?fakey pattern?consists of a?false breakout?of an inside bar pattern. In other words, if an inside bar pattern breaks out briefly but then reverses and closes back within the range of the mother bar or inside bar, you have a fakey. It’s called a “fakey” because it fakes you out, the market looks like its breaking one way but then comes back in the opposite direction and sets off a price movement in that direction. Fakey’s are great with trends, against trends from key levels and in trading ranges.
fakey 模式由內(nèi)線模式的假突破組成。換句話說，如果內(nèi)線形態(tài)短暫突破，但隨后反轉(zhuǎn)并收于母線或內(nèi)線的范圍內(nèi)，那么您就有假的。它被稱為“假貨”，因?yàn)樗垓_了你，市場(chǎng)看起來像是以一個(gè)方向突破，但隨后又回到相反的方向，并引發(fā)了那個(gè)方向的價(jià)格變動(dòng)。Fakey 的趨勢(shì)非常出色，與關(guān)鍵水平和交易區(qū)間的趨勢(shì)相反。

Trading with Price Action Patterns
使用價(jià)格行為模式進(jìn)行交易

Let’s look at some real-world examples of trading with?price action patterns.
讓我們看看一些使用價(jià)格行為模式進(jìn)行交易的真實(shí)示例。

The first chart we are looking at shows us a?bearish fakey sell signal pattern. In this example, the trend was already down, as we can see the overall downward track starting at the top left of the chart and falling as price moves toward the left side of the chart. Thus, this?fakey sell signal?was in-line with the overall daily chart downtrend, this is good. Trading with the trend generally gives a price action setup a better chance of working in your favor.
我們正在查看的第一張圖表向我們展示了一個(gè)看跌的 fakey 賣出信號(hào)模式。在這個(gè)例子中，趨勢(shì)已經(jīng)下降，因?yàn)槲覀兛梢钥吹秸w下降軌跡從圖表左上角開始，并隨著價(jià)格向圖表左側(cè)移動(dòng)而下降。因此，這個(gè)虛假的賣出信號(hào)與整體日線圖下降趨勢(shì)一致，這很好。順勢(shì)交易通常會(huì)使價(jià)格行為設(shè)置更有可能對(duì)您有利。

The chart below shows an example of a?bullish fakey pin bar combo setup?in the context of an upward moving market. Typically, when a market has a strong near-term bias, meaning it’s been moving in one direction recently and aggressively, a price action trader wants to trade in-line with that near-term momentum.
下圖顯示了在向上移動(dòng)的市場(chǎng)背景下看漲 fakey pin bar 組合設(shè)置的示例。通常，當(dāng)市場(chǎng)具有強(qiáng)烈的近期偏見時(shí)，這意味著它最近一直在朝著一個(gè)方向積極移動(dòng)，價(jià)格行為交易者希望根據(jù)該近期勢(shì)頭進(jìn)行交易。

In this next example, we are looking at the?inside bar?trading pattern.?This chart shows both a regular inside bar signal as well as an?inside pin bar combo setup. An inside pin bar combo is simply an inside bar with a pin bar for the inside bar. These setups work very well in trending markets like we see in the chart below.
在下一個(gè)例子中，我們將研究?jī)?nèi)線交易模式。此圖表顯示了常規(guī)的內(nèi)線信號(hào)以及內(nèi)銷柱組合設(shè)置。內(nèi)針桿組合只是一個(gè)內(nèi)桿，內(nèi)桿有一個(gè)針桿。這些設(shè)置在下圖所示的趨勢(shì)市場(chǎng)中效果很好。

The last chart we are looking shows examples of the?pin bar?pattern. Note the large up moves that followed both of these pin bar buy signals. Also, note how these pin bars both had long tails in comparison to some of the other bars on this chart that you might identify as pin bars. Pin bars wit nice long tails like these two, and that are clearly protruding out from the surrounding price action, often are very good setups to trade.
我們正在尋找的最后一張圖表顯示了?pin bar?模式的示例。請(qǐng)注意這兩個(gè) pin bar buy 信號(hào)之后的大幅上漲。另外，請(qǐng)注意，與此圖表上您可能認(rèn)為是 pin bar 的其他一些條形相比，這些 pin bar 都具有長(zhǎng)尾。像這兩個(gè)這樣的 pin bar 帶有漂亮的長(zhǎng)尾巴，并且明顯從周圍的價(jià)格走勢(shì)中伸出，通常是非常好的交易設(shè)置。

Trading Price Action Patterns with Confluence
使用 Confluence 交易價(jià)格行為模式

Trading with price action signals is not only about the signal itself, but it’s also about where the signal forms on the chart. Every pin bar, inside bar, etc. is not created equal. Depending on where a particular price action signal forms in a market, you may not want to trade it or you may want to jump on it without hesitation.
使用價(jià)格行為信號(hào)進(jìn)行交易不僅與信號(hào)本身有關(guān)，還與信號(hào)在圖表上的形成位置有關(guān)。每個(gè) pin bar、inside bar 等都不是一樣的。根據(jù)特定價(jià)格行為信號(hào)在市場(chǎng)上形成的位置，您可能不想交易它，或者您可能想毫不猶豫地跳上它。

The best price action signals are those that form at ‘confluent’ points in the market. Confluence, simply means ‘a(chǎn) coming together’ of people or things. In the case of price action trading we are looking for an area on the chart where at least a couple things line up with a price action entry signal. When this happens, we say the price action signal ‘has confluence’.
最好的價(jià)格行為信號(hào)是在市場(chǎng)“匯合”點(diǎn)形成的信號(hào)。匯合，簡(jiǎn)單地說就是人或事物的“聚集”。在價(jià)格行為交易的情況下，我們正在圖表上尋找至少有幾個(gè)東西與價(jià)格行為入場(chǎng)信號(hào)一致的區(qū)域。當(dāng)這種情況發(fā)生時(shí)，我們說價(jià)格行為信號(hào) “匯合”。

In the chart example below, we can see a good example of a pin bar pattern with confluence. The confluence is that the pin bar has formed in the direction of an up-trending market and that it has formed at a support level in that uptrend. Thus, we have the confluence of the trend and the support level, together these things give the pin bar buy signal more weight than if they weren’t there supporting the signal. The more confluent factors a price action signal has behind it, the higher-probability signal it is considered to be.
在下面的圖表示例中，我們可以看到一個(gè)具有 confluence 的針柱線模式的好例子。匯合點(diǎn)是 pin bar 已朝著上升趨勢(shì)市場(chǎng)的方向形成，并且它已在該上升趨勢(shì)的支撐位形成。因此，我們有趨勢(shì)和支撐位的匯合點(diǎn)，這些因素共同賦予了 pin bar 買入信號(hào)比它們不存在支撐信號(hào)時(shí)更大的權(quán)重。價(jià)格行為信號(hào)背后的匯合因素越多，它被認(rèn)為是概率更高的信號(hào)。

Conclusion??結(jié)論

I hope you’ve enjoyed this?price action trading tutorial. You now have a solid basic understanding of what price action is and how to trade it.
我希望您喜歡這個(gè)價(jià)格行為交易教程。您現(xiàn)在對(duì)什么是價(jià)格行為以及如何交易它有了扎實(shí)的基本了解。

Going forward, you should look to expand your price action trading understanding and knowledge as there is much more to it than is covered here.
展望未來，您應(yīng)該尋求擴(kuò)展您對(duì)價(jià)格行為交易的理解和知識(shí)，因?yàn)樗膬?nèi)容遠(yuǎn)不止這里介紹的。