Naked chart analysis (Trading based on Price Action)
Trading based on Price Action
You do not need any indicators to see trading setups
You are going back to the basics, almost all indicators are based on Price Action, why not just learn to read the Price Action yourself?
Every major trend is going to have one thing in common
A series of higher high and higher lows, or a series of lower highs and lower lows.
Once you understand how to identify these trend patterns and the overall direction of a market, you can catch a move and stay in for a much larger trending move
You can apply this type of setup to intraday and end of day trades.
If you are having a hard time finding the trends, take a step back and look at the major turning points, are they going up or are they going down
A lot of times traders get caught up in the noise of the markets and lose focus, but the market is always going to tell you where it is heading
Do not worry about finding the top or the bottom, we are going for the middle 80%..
That is where the money is at
Once you enter into this type of trend following trade.
You manage stops by trailing them just behind the highest high or lowest low
This will guarantee you stay in trade as long as the trend continues your direction
If a previous high /low is broken, the the market is entering consolidation or reversing
You do not need any indicators to see trading setups
You are going back to the basics, almost all indicators are based on Price Action, why not just learn to read the Price Action yourself?
Every major trend is going to have one thing in common
A series of higher high and higher lows, or a series of lower highs and lower lows.
Once you understand how to identify these trend patterns and the overall direction of a market, you can catch a move and stay in for a much larger trending move
You can apply this type of setup to intraday and end of day trades.
If you are having a hard time finding the trends, take a step back and look at the major turning points, are they going up or are they going down
A lot of times traders get caught up in the noise of the markets and lose focus, but the market is always going to tell you where it is heading
Do not worry about finding the top or the bottom, we are going for the middle 80%..
That is where the money is at
Once you enter into this type of trend following trade.
You manage stops by trailing them just behind the highest high or lowest low
This will guarantee you stay in trade as long as the trend continues your direction
If a previous high /low is broken, the the market is entering consolidation or reversing
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