Price action trading in a nutshell
“Price action” is one of the intriguing subject among new traders and intermediate traders who get tired of mechanical
systems that stop working after some months.
What is price action?
“The previous price area that current price responds to is called Price Action”.
Most of the Price action trading strategies consist of deriving an edge based on market’s reaction to past levels of price.
The price levels can be of two types.
A)Direct levels (Which are drwan on charfts by connecting different points of chart)
B)Indirect levels(Calculated mathematically and widely followed by traders)
Direct Levels
1)Support and resistance
a)Major S/R
b)Minor S/R
c)Swing High/lows
d)Polarity and interrelationship between Support resistance
2)Trendlines
Indirect Levels
1)Pivots
2)Fibonacci Level
Invariably, prices do react to both type of levels most of the time.To gauge the reaction,we use either candlestick/bar charts. Also the
candle/bars show how the price approached the levels.But,many traders make the mistake of giving too much importance to candlestick
shape blindly rather than focussing on gauging price action from the wholesome picture.
Best way to learn price action is to learn it in live market condition.
Even recorded video can not beat live explanation of how to trade price action.Here is a brief action plan of lessons to learn price action.
A brief outline of content
Beginner’s Lesson
Five Ws of Forex and Forex trading
Five Ws of Forex and Forex trading
1.What is Forex trading?
2.Why should you trade forex?
3.When can you trade forex?
4.How to trade forex?
5.Who is suitable to trade forex?
What to expect out of trading?
What to expect out of trading?
Of course,making wealth ie getting rich.
But,You are not going to get rich in a day or a month.This is not a secret magic wand for enormous wealth.There are not any.If you believe there is, I can just wish you luck to your path to ”getting scammed”.
Get real no illusion.It will reduce your path to success drastically.
Do forex traders predict future to make money?
Do forex traders predict future to make money?
Yes.But not exactly the way common perception about “predication”.
Money is made by edge.Edge comes from analysis
1)Types of analysis used in trading
a)Fundamental
b)Technical
c)Combo pack
2)Choose an analysis method suitable for you.
(Only for brainwashed people!
What are indicators and why are they mostly useless?
Know why on earth they exist?Why it is still so famous?
Why some pro trader still use some kind of indicator?
What type use of indicators is okay?)
PRO Price Action course-Content
What is Price action ?
Charts are the pulse of market.It is a visual snapshot of all movements of price.Yes,This is the price action!
Once you know how to read the charts, you are the King!
Let’s look it into deeper.
1.Candlesticks
Know only what you will be using.No stupid Japanese names!
I will tell you only the few important ones.
2.Support and Resistance levels
a)Relation between Support and resistance
b)How to identify major S/R
c)How to use S/R of multiple timeframe and not get confused?
3.Fibonacci lines.
Know why on earth the seemingly random numbers matter?
How to draw Fib and identify major ones?
4.Pivot Points
Another useful beast. 
Learn how to use pivot points in trade management.
5.How to draw a meaningful trend line and gauge its importance?
6.Swing Points
7.Common chart patterns
8.How to find area of interest in a chart?Live Example
Making sense of the whole picture. Confluence!
Using news and time to know when to trade or not?
Break out Vs Fakeout
How to enter a break-out safely by avoiding fake out most of the times?
Live signal.
I am currently taking 20 aspiring traders per month.I want to keep everything small and nice as it is free.If the slots are taken, I will put you in waiting list and let you know when it is free.But,I will update daily signals to all subscribers.Mention your time zone so that I can adjust trading room slots.
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