Price Action Trading ... Art and The Science

[Geqt]

what's this ethnical analysis

 

[Geqt]

Price action can't be ignored by any trader as it is the foundation of ethnical analysis. Understanding naked charts (free of any other indicator) is important. One thing that makes price action as an indicator more special is that it is not a lagging indicator. The likes of Relative strength index are lagging and deal on past price candles to know what is to come.

What's this ethnical analysis

 

[vijkris]

what's this ethnical analysis

it must have been a typo. read it as technical analysis.

 

[mmohanar]

We all know that Price (Price Action) is The King and the best way to Analyse the King / Price is to know the Candle Sticks, their patterns and the things they convey.
Understand that God is in small things and these small candlesticks are the road to bigger and consistent profits. Without in depth understanding of candlesticks, their patterns, their characters will not lead you anywhere in trading journey.
Every Candle has a Open (O) Price, the High Price that the Candle went up to in that Candle (H), the Low Price that Candle went Down to (L) and finally the Close Price (C). This constitutes the famous and all important OHLC.
Every candle has a body and wicks. Body shows the volume and wicks indicate the direction and strength of the direction.
Why is this important? The Difference between the H and the L shows the Strength / Liquidity / Momentum of the Pair. Higher is the difference between the H and the L, more is the Momentum / Liquidity, lesser is the difference between the H and the L, lesser is the Momentum / Liquidity.
If the H and L convey the Momentum / Liquidity / Strength, the O and C convey the direction. Horizontal line on the left side of the candle is Open and the Horizontal line on the right side of the candle is Close. If the C is Higher and Above the O, Market is Going UP. If the C is Lower and Below the O, Market is going DOWN.

If you want to explain price action by candle sticks. Then you should use candle sticks only or ohlc only.you don't use both in one candle. That's not correct way.

You should follow some basics and discipline of the chart.

I have not seen anywhere both candle and ohlc in one bar.

Regards

Mmohanar

 

[Profiforex.Victory]

I think a forex trader should be good with his candlestick or price action in general before approaching advance trading indicators. One good thing is that most indicators are lagging and focus on past price action; but with basic price action, pin bars etc. you will be able to tell future happenings.

 

[akashtylor]

price action strategy is best in all, mera personal experience h ki indicator bus chart ko comfusing bnate h agar aapko indicator ka use krna hi h to normal imdicator ka use kre prica action trading ko kisi ek fix timing par fix candle fix time frame ke sath use krenge to jald hi aapko better result milenge aap market ko sahi predict krne lagenge..

 

[Hafiz Sharkar]

Absolutely, Price Action trading strategy is the most powerful trading system in order to my personal experience! In my demo, I used tons of trading strategies and systems but no impressive result I found! Then I started to learn PA trading, till now I am doing my live trading only based on my PA trading knowledge! I don’t use any technical trading indicator!

 

[howardroark]

If someone wishes ... If anyone is seriously interested ... I can continue this thread ...

 

[manojborle]

Please continue with the thread, I am interested in learning and I think many will be there who are interested.

Thanks

 

[vsaran]

Sir,
Please continue and we are eagerly waiting to learn from you.And best wishes for your 100 day challenge.