4 Crazy Price Action Forex Tips That Will Seriously Improve Your Trading!
3. Focus on Charts With Clear Price Action to the Left
One of the quickest ‘spot checks’ you can do on your chart is have a look to the left.
What do you see? Clear trending price action, or a highly congested traffic jam?
When the market seizes up, and the flow of price action stops – we can get these horrible, hostile, churned up periods of consolidation that create ‘minefield’ like signals.
Candlestick signals, and other price action trades will often form within these conditions, and may be tempting to trade – but are just too unreliable in an unstable market.
There are times you would have had an experience where a trade ‘dragged you through the mud’, because you took the position in choppy market conditions.
A simple check to the left rule can be a good reminder to move on to the next chart, or wait for the next position.
Sometimes no position is a good position – especially when you’re trade is drowning in draw down.