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A Forex Trading Tutorial With Just Using Price Action

 


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There are a lot of forex trading tutorials on the internet but very few of them touch on how to trade without using indicators. They are usually the same old, same old where you put a couple of moving averages and stochastics on your charts, and using them to form some kind of mechanical system off of that.

It's really sad that more and more people aren't using price action to trade forex. It's actually the oldest form of technical analysis. In the beginning days of the stock market, this is the only way technical traders traded the market. There were no special indicators that traders used. They could only go on price movement, and how they interpreted it.

Many traders could be trading like this in modern times. Frankly, it's the only true way to see the true energy of the markets.

It all starts with getting rid of your indicators. I know this may seem like a scary thing to some, but don't let it frighten you. It's not as complicated as you may think it is.

You should only be left with a simple bar or candlestick chart. Now all you have to do is watch. Watch the market move. Don't try to force yourself into seeing something. It should come naturally.

What you should start to notice after a while, is that the market will hit certain support and resistance areas based on previous price action patterns. The other thing that you should notice is what happens when these support and resistance areas are broken. This is the TRUE way of spotting a counter trend.

John Templeton has been a successful forex trader after learning how 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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