Price Action trading is one of the most powerful and simplest way to trade the market with success.
It uses the “clean” or “naked” charts, without any (or only minimal) indicators and if you master this skill it will help you in your forex trading career forever. Here’s a video of my mentor Nial Fuller, talking a bit about it.
A formal definition of Price Action is: A form of technical analysis that uses candles on a chart which represents data that shows what the market has been doing for the specified time range. For example if it is a daily candle then it shows what the market did for that day. All economic data and global news that effect price in any way will be reflected on the price chart so it eliminates almost any use of following the news. There are no indicators or anything confusing on your chart, the only thing that is there is raw price displayed as candles. This makes trading simpler and easier to read.
Here’s some links and articles I found online
I’d love to know how you’re trading forex. Please leave a comment below and get in touch, or call me on (082) 561 4455 to have a short conversation.
Other Price Action articles to study
- Develop A Daily Routine For Analyzing Charts & Trade Setups Develop A Daily Routine For Analyzing Charts & Trade Setups Most of you know I publish a daily market commentary each day shortly after the daily Forex market close. What many of you probably do not know is that making these commentaries each day is part of my daily…
- Long tail candle forming on EURGBP Daily Chart My purchase of Nial’s Price Action forex course is already paying off by me being a member of the forum and getting as it happens forum updates via email, and so when I got the alert to this long tailed candle forming in the daily chart of the EURGBP, I knew that I had to share it with you. Around midnight when New York closes and with it the…
- Trading Is a Game of Anticipation, Not Reaction For many traders, it seems natural to assume that being in the market as often as possible is what gives them the best chance of making money. However, today I am going to challenge this widespread belief and I’m going to show you that you don’t need to react to every little bar or pattern that “might” be an entry signal.
- Price Action Trading Hangout on Air My first ACMgold subIB has joined and we’re meeting in a few hours to discuss ways we can promote our little business in partnership with the broker, my idea has always been to an online community and since Hangouts on Air are a wonderful innovation on Google+, I want to create more of them. This post is especially for Sid to comment on It…