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  • 2 weeks later...
Posted

It seems to me looking at other threads that Price Action stuff gets far fewer views than other stuff especially the fancy indicators and EA threads. Is this true, what do others think? What are the reasons if it is true?

Just wondering!

Posted

Hi mjs,

 

It's because price action is much harder to master than just seeing whether a "holy grail" indicator is showing green or red or displaying an arrow telling you to "enter trade here" lol.

 

Full-time traders all appreciate the importance of price action as it's one of the core tools you need to have in your trading "toolbox". However, price action doesn't always work as you'd expect it to (like all other trading methods) and is best used in conjunction with other trading methods.

 

For example, price goes up and outside the Bollinger Bands - should you be going short now ? If the candle ends in a spike which is outside the BB's than that price action signal tells you that the short trade has become a bit more favourable. Has price hit a price action resistance level before it bounced back into the bands with that spike? If so, then the odds of a good short trade are even more in your favour and so on.

 

Trading is all a probabilities game and we all need to find a means of confirming the next direction of price to give us highly probable trades. Price action will help us to do that.

Posted

Thanks for this offering but two points...

 

1) isn't this protected?

2) this isn't the course being asked about...

 

But thanks for your interesting post...

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