in relation to support and resistance levels. Since all trading indicators use information from the movements of price, they require price to move first therefore they lag price. Its a form of a pin bar pattern combined with support or resistance plus price movement that has pulled far away from the mean (think mean reversion when the elastic band is pulled too far). This means there is very minimal use of lagging Forex indicators and the only exception is that you may use one or two moving averages basically to help you identify dynamic support and resistance levels and trend.
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Keep up the great work! It is a specialized form of technical analysis that requires a solid understanding of market mechanics as well as the meaning or implied meaning being the relationship between individual candlesticks or bars. I discuss price action trade setups, chart analysis and commentary on at least 10 different markets including major currency pairs, commodities, and stock indices. Access to an experienced mentor who will answer your questions. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Price Action Trading (P.A.T.) is the discipline of making all of your trading decisions from a naked price action chart.
This means no lagging indicators.
All financial markets generate data about the movement of the price of a market over varying periods of time; this data is displayed on price charts.
My, forex Trading Strategy uses price action techniques like candlestick analysis and support resistance areas to trade in a simple, stress-free way.
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