Very interesting stuff
4 Crazy Price Action Forex Tips That Will Seriously Improve Your Trading!
Do you want to be able to open up any price chart, and forecast near term price action with confidence on your own?
Every trader aspires to be an awesome technical analyst. It’s one of the core skills needed to be able to trade the Forex market like a boss.
Price Action Trading is the methodology you will eventually fall in love with.
Let’s face it, it’s a very seductive and addictive form of analysis, and when done right – very lucrative!
At it’s core, price action is something trading systems need, and many have been derived from its principles.
Once you master the charts, you can come up with your own flavor of trading system that works for you and be proud of its results.
But first, you need to master the charts, and become your own king of technical analysis.
In this guide, I’ve got some awesome tips that will make the charts just pop out at you, instilling a huge boost in clarity in your analysis next time you open your trading software!
Are you ready? Let’s begin…
When analyzing the price action context, some things you need to consider are:
Current price action forex structure
What’s happening on the higher time frames
Forex price action to the left
Relative location of price to other important technical factors
Presence of support, resistance, trend line structure etc
If I could illustrate my point here, I would show two charts. The bad way, and the professional way to approach candlestick signals.
Look at the flow chart above, is this level of decision making you take when putting your money on the line?
Now look at the chart below, this is how I recommend you approach a trade decision that involves a candlestick pattern. Give this a try…