Price action is the oldest strategy in the world of forex trading. It is a trading method of the technical analysis type. It seems ridiculous that so many old strategies that have been set in motion are unknown. Ask some of today’s new retailers what the price is and they will look at you hopelessly. A few may have heard of it, but you can practically guarantee that no one will know how it works.
Today’s modern forex market is basically run by robots. Indicators are used that show you astonishing unreliability when you need to buy and sell. The trading community has definitely become lazy.
The principle of this method is very simple. It tells you about current trends and predicts price movements in the near future. When the stock market first opened its doors, all traders used this method to buy and sell. Jesse Livermore was a legendary merchant in the early twentieth century, and the only system he ever used was price action.
Why have things changed so drastically? By introducing indicators into common trading, the whole thing has become more complicated than it should be. Traders seem to have actually forgotten how to analyze markets.
New marketers entering the market are brainwashed by these wonderful inventions that make your money for you. They will never hear of it, but when their bank accounts are empty thanks to their mechanical friends, they will wish they were.
So throw out the indicators, learn the effects of prices and become a real trader.