How do i do trade forex

The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. However, it is my how do i do trade forex belief that traders need only analyze a market’s price action for their technical analysis. Not only is the price action on a chart the purest and cleanest view of that market, but all indicators and other technical analysis studies are based on price action anyways.

So, it should go without saying that when we analyze a chart’s price action without added indicators, we are analyzing the most pertinent and clearest view of that market. Technical analysis and price action go hand-in-hand Many professional traders focus on price action as their primary form of technical analysis. They do this because they know that price is the ultimate leading indicator of what price might do next. How many times have you seen a market move the opposite direction that you expected after a certain economic news release came out? They’re very likely were strong price action clues leading up to that news release of what price was most likely to do. Price often leads the news and foreshadows fundamentals and any news results and fundamentals are reflected in the price action.

We can read what they are doing in the market by learning to trade based on the price action imprint they leave behind on the charts. Price action allows us to find repeatable patterns, place trades, manage risk and profit objectives in a very straight-forward and logical way. By simply making use of support and resistance levels and the natural price data on a chart, we can analyze and trade a market successfully if we know what we are doing. Here are some famous quotes from legendary traders on technical analysis vs. I am primarily a trend trader with touches of hunches based on about twenty years of experience.