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Trading Price Action - A Forex Trading Tutorial

 


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I know there is a million forex trading tutorials on how to use all the hundreds of indicators that are on your trading platform, but there are so few that actually teach about price action. For every 100 people that want to show you how stochastics work or how to trade fibonnacci retracements, you can't find too many people to teach you about how to actually read a price chart without all the gadgets.

The entire concept that people need to understand is how to trade without using any indicators. The main purpose is to show traders that all the relevant information you will ever need is in the price.

Do me a favor and pull up a bar chart on whatever platform you are using. DO NOT put any indicators on the chart. I know this is uncomfortable, especially if you are used to using them.

The next thing I want you to do is just to study it. I want you to particularly pay attention to when the markets get volatile. Notice the strong upward and downward movements and take a look at the corresponding market behavior. You will begin to notice obvious support and resistance areas that are basically the most pivotal areas on the chart.

You can tell exactly where the price is headed just by witnessing what happens in these key areas. You can tell if the particular currency will continue its trend or we are setup for a strong counter trend move. Its all there in black and white. This is something that you will not see with indicators.

John Templeton has been a successful forex trader after learning to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

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