How to Read PRICE ACTION STRATEGIES AND SIGNALS: FOR PROFITABLE TRADING DOC
One skill every forex trader needs is the ability to analyze data quickly. Before you enter any market as a trader, you need to have some idea of how you will make decisions to execute your trades. You must know what information you will need to make the appropriate decision on entering or exiting a trade. There is a lot of math involved in currency trading, but it is represented through charts with indicators and patterns from technical analysis. To the inexperienced eye, the data is worthless, consequently, traders need to develop their analytical skills so they can first understand the charts and develop their own technique to study the trends and patterns, presented by the charts. This is the stage of technical analysis. The better you can understand the data presented, the more effective decisions you can make, in terms of whether the trade is worth taking or moving onto another currency pair. Most successful FX traders are proficient with their technical analysis, and then combine that with certain indicators, to predict a profitable trade, based on the systems they are using. Here comes the skill of price action strategy in forex trading. In this book, you will learn how to use price action skill to analyze charts, trends, and patterns in order to identify key trade setup also were to enter trade and exit point to maximize profit while minimizing loss.
