The Ultimate Guide To Price Action Trading PDF

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The Ultimate Price Action Trading Guide Book PDF Free Download

What Is Price Action?

This is the basic definition of price action trading:

When traders make trading decisions based on repeated price patterns that once formed, they indicate to the trader what direction the market is most likely to move.

Price action trading uses tools like charts patterns, candlestick patterns, trendlines, price bands, market swing structures like upswings and downswings, support and resistance levels, consolidations, and Fibonacci retracement levels, pivots, etc.

Generally, price action traders tend to ignore the fundamental analysis-the underlying factor that moves the markets. Why? Because they believe everything is already discounted at the market price.

But there’s one thing I believe you should not ignore: major economic news announcements like the Interest Rate decisions, Non-Farm Payroll, FOMC, etc.

From my own experience and from what I’ve seen, I say this “the release of economic news can be both a friend and an enemy for your trades.”

Here’s what I mean by that:

  • If you did take a trade-in line with the result of the economic news release you stand to make a lot more money very quickly in a very short time because the release of the news often tends to move price very quickly either up or down due to increased volatility.
  • But if your trade was against the news, you can walk away with all your profits wiped out or a loss and the loss can be huge because markets can move so fast during that period that there’s also the chance that your stop loss cannot be triggered.

Chart time

You need chart time to understand Price Action. For some of you, it may take a while for you to understand, while some of you may be very quick to learn.

Observe the price action of the market. Go back to the past and see how the market had behaved. What caused it to behave that way?

You cannot be a confident price action trader until you do this.

If you could simply read the charts well enough to be able to enter at the exact times when the move would take off and not come back, then you would have a huge advantage.

Trend lines, specific candlestick patterns, specific chart patterns, Fibonacci retracement levels & support, and resistance levels… are the tools I use to trade.

If you put the time and effort into learning them, it won’t be long before you will begin to understand and see how all these things fit together. Start learning to trade naked price action.

AuthorMangi Madang
Language English
No. of Pages128
PDF Size3.82 MB
CategoryStock Market

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