Price Action Trading Techniques

Price Action is a trading technique that allows traders to read the market. Traders are also required to make subjective trading decisions based on current and actual price movements, instead of relying solely on technical indicators. This trading strategy relies on technical analysis tools. Thus, it ignores fundamental analysis factors and focuses more on current and previous price movements. Many short-term traders rely heavily on price action. In addition, many day traders focus on Price Action strategies to get profits in a short period of time.

Tools Used by Price Action Strategies

Since trading using price action strategies is concerned with recent historical data and past price movements, all technical analysis tools such as charts, trend lines, etc. are used to support the desired profit gain.

The tools and patterns that traders observe can be price bars, price bands, break-outs, trend-lines, or complex combinations of candlesticks, volatility. The emotions and psychological behavior of traders also form an important aspect of the Price Action strategy. Basically, this trading strategy is a systematic trading practice. With the help of technical analysis tools and recent price history, traders are free to make their own decisions. However, traders who use this strategy must also take trading positions according to the subjective, behavioral and psychological state of the trader.



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