Price action and chart reading in Forex Part 1
(I do not own the video. The description below are from the description section of the video. So pronoun such as 'we' are referring to the original context of the video)
In this series of forex webinar video we will talk about most important clues and observations that can be captured from the price action. We will focus on the Forex market, yet you will be able to apply the same principles to analyse stock indexes, commoditites e t.c. and go through several most frequently occurred scenarios of price action:
1. Active trending market (new money stepping in the market).
2. Stair-stepping trending market (mature trend);
3. "Random" price discovery (sideways action);
Looking at the chart, many traders are confused with amount of information they need to process. The shorter timeframe you are operating within, the more "noise" you will face with. The skill of separating "signal" (relevant, important information) from the "noise" is the major skill for a trader. "Price action analysis" does not mean that you should go after the price in all cases. Price is just an advertising mechanism in a two-sided auction process, and it not always shows us relevant information, sometimes it just produces "random" action (we assume that there is nothing really "random" in the market action, but it is so for us, if we don't see anything meaningful behind it)
https://www.youtube.com/watch?v=xtton_jQkD4
(Back to tutorial list (https://globaleasyforex.com/index.php?topic=165.0))
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