Price action is the oldest strategy in the world of currency trading. This is a method of trading is of the type of technical analysis. It seems ridiculous that the old strategy is unknown to so many people. Ask some of today’s new retailers what price action is and they will look at you blankly. A few may have heard of it, but in practice you can guarantee that no one will know how it works.
Today’s modern currency market is run mainly by robots. Indicators are used that tell you when to buy and sell, with stunning unreliability. The trading community has definitely become lazy.
The principle of this method is very simple. It tells you current trends and predicts how prices will move in the near future. When the stock exchange first opened its doors, all traders used this method of buying and selling. 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? With the introduction of indicators in the main trade, the whole thing has become much more complicated than it should be. It seems that traders have actually forgotten how to analyze markets.
New traders entering the market are washed away 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 had it.
So throw away the indicators, learn price action and become a real trader.