What is Price Action Really? When I started learning I was using a lot of indicators and crap but then I heard about Price action, its meaning is pretty vague and confusing after a lot of effort I get to know that the simplest things work best.
Let's see a structured way to approach Price Action analysis.
1. Chart Reading Bar by Bar. Studying the Previous candle reflects a lot of important information on the market movement and future direction.
2. Reading the Context and the whole Structure. *The circles marked on the chart show the best location where certain candlestick formation offers good trading opportunities.
*The reading chart in the overall structure helps to eliminate taking trades in the direction of exhausted trends.
3. Identifying Momentum Increase or decrease.
4. Adding Volume Confirmations. Volume is the better half of price and without volume analysis can be incomplete.
These are some of the factors that start the price action analysis. By practice, one can look into the deeper significance of these factors and use them easily.
I hope this has added some new value to your knowledge, if you like these educational ideas, Share your views and like.
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