Trading with the Price Action Trading Strategy
The market keeps on moving according to the supply and demand. An uptrend shows that the buyers are governing the price of a currency pair and vice versa. There are many strategies that traders use to trade using the price action. This means to trade using PA, the traders read the chart to identify the pattern to get a clue about where the markets will head next.
The first thing that you should do to trade using PA is to remove all the indicators from your messy chart to make it clean. Prefer reading a candlestick chart as it is more dynamic and accurate. Once you have removed all the indicators, it is the time to read the chart yourself and look for the signs to use as a set up to trade. The best and the clearest chart is a black and white candlestick chart.
The traders who trade using price charts only check the price movement caused by the economic issues as well as the buying and selling, whether it is through a computer or human action. This makes the trading task easy as there is no need for the traders to do the analysis of millions of variables. Although many traders have tried it, nobody till now is successful.
To become a better trader, it is important to understand the price action correctly. A pure PA trader can make a good fortune in a short time.