Forex or The foreign exchange market is very very large financial market in the world, with a daily turnover of over $5 trillion. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. Forex trading refer to the art of buying or selling currency for profit.

Author Topic: Price action and chart reading in Forex Part 1  (Read 2123 times)

Newswire

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on: August 14, 2018, 11:53:09 AM
Price action and chart reading in Forex Part 1

For watching this video you should have at least one trading account. If you are not. Get a trading account for free here!

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)




Eriikk

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Reply #1 on: August 25, 2018, 02:28:16 PM
Thank you



Dronehone

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Reply #2 on: September 10, 2018, 05:14:03 PM
Many traders who start trading in the Forex market have often started to hear traders. Traders began to talk about the price action or price movement behavior. Some people may be confused as to what this is. What is the price action?  If the simplest way to see Price action is to see a blank graph itself, do not use indicators or what the average. Price behavior from a blank graph. Both in the form of Candlestick chart and Bar chart, which many traders in the Forex market successfully used this method to trade. They believe that the indicators or the average. Prices are based on open highs and lows on the chart. They are going to focus on price behavior. Instead of watching them.



Doomdook

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Reply #3 on: November 30, 2018, 01:09:06 PM
Forex is the shortening of foreign exchange, sometimes referred to as FX or currency trading. It is the exchange of one currency for another.



Juksas

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Reply #4 on: December 12, 2018, 05:33:34 PM
Thanks for this nice tutorial



Juaas

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Reply #5 on: January 19, 2019, 02:23:34 PM
Price action is easy to understand for forex traders in general.



Jukkiss

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Reply #6 on: March 05, 2019, 11:48:30 AM
This is good for forex trader in general



Hfax

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Reply #7 on: March 07, 2019, 06:49:33 AM
i decide to trade forex and get rich



 

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