Price Action Relying on Support and Resistance?

In investing or trading, the ability to observe price movements is an important aspect and must be understood by investors or traders. Especially in the world of trading, monitoring price movements has a very big contribution to the potential profits that traders might get. If you misread price movements, not only does it reduce the potential for profit, the risk of experiencing losses will also be greater. This is because price movements often form the basis of decisions for investors or traders regarding their investment portfolios and assets.

The movement in question is price action. Price action is a methodology for speculating financial markets which consists of analyzing the underlying price movement over time. It is used by many retail traders and often by institutional traders and hedge fund managers to make predictions about the future direction of prices or financial markets.

Simply put, price action is how prices change, that is, price action. This is most easily observed in markets with high liquidity and volatility, but actually anything bought or sold on an over-the-counter market will result in price action.

Price action trading ignores the fundamental factors that influence market movement, and instead looks primarily at the price history of the market, i.e. its price movement over a period of time. Thus, price action is a form of technical analysis in that its primary focus is on the relationship of current market prices to past or recent prices, as opposed to 'second hand'. Value derived from that price history.

In other words, price action trading is a form of pure technical analysis because it does not include indicators derived from used prices. Price action traders are only concerned with the first hand data the market generates about itself, that is price movement over time.

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