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What is Price Action

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Price Action is one of the technical analysis strategies based on the TA founder Charles Dow’s opinion: “Value will always work out in the course of time. ”. This famous quote means that the price movement already incorporates all the expectations of the market’s players and the outer world factors, including politics and economies of the world. In other words, it turns out that the TA advocates, the Price Action advocates, in particular, can stop wasting their time and effort on fundamental analysis – watching the news, reports, analysts, forecasts, etc. This is, by no means, very convenient, for it releases extra free time and allows traders to put their efforts on something else.

The Price Action Strategy is advisable for daily time frames, so it is more suitable for long-term positions, but not for scalping. Timeframes with smaller intervals are white-noised with the prices, so it hinders traders from seeing the real trend and making the right predictions about the price action.

Trading with Price Action means fully abandoning indicators and advisors. Signals for opening or closing an order are the special candle patterns or set-ups. These repeat themselves on a regular basis, which makes the market move in a cycle. Of course, there are a lot of possible pattern variants, but traders don’t have to learn all of them. It is enough to choose several set-ups that are the clearest for him or her and continue working with them.

Support and resistance levels are crucial for working with Price Action. Whenever the price is close to one of them, traders expect the pattern to form and the price to move in the forecast direction, which is the only liable signal to open an order.

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