Analysis Steps Using Price Action

The price action strategy is one of the most popular trading strategies by traders, both beginner and professional traders. The price action strategy is a modern technical analysis, which is a way of monitoring or analyzing the market by looking at the candle patterns on the chart. This strategy is also known as the naked trading strategy or a strategy that does not rely on indicators. The price action strategy only relies on candlestick patterns, harmonic patterns, and support and resistance lines.

Related to its function, in general price action is useful in helping traders to read and predict market conditions. This can then become the basis for making subjective decisions on the basis of recent and actual price movements. That way, trading or trading activities that are carried out are able to run and provide more definite and promising profit potential.

Any global news or events that have a direct impact on the market will be reflected in graphical form. In other words, only with a price action strategy, traders can simultaneously see the fundamentals depicted in the form of the graph.

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