I think what medium is suitable would depend on personal perspective and also what is to be learnt. If we talk about price action trading, it does take a lot of time to master the approach. I would rather suggest to open the chart, try to look for common chart patterns, distinguish the significant support and resistance levels, learn whether the market is trending or not by pointing towards the higher highs and lower lows.
where can i learn PRICE ACTION trading ?
- Thread starter ptatrading
- Start date
Help me out here. The price action according to me can either take the form of candlestick patterns or the complete price structure and both these forms can be confusing and misleading. So, how can I find the price action signals?
THIS !
all the candlesticks should be telling you is what is more likely to come. Big tails below bear bars and above bull bars? - that is trading range price action. Get this idea of "big engulfing candle" or "pin bar candle" out of your head, its nonsense.
Big bars closing on their high/lows - sounds like BO PA.
There are more ways to determine, based upon the same concept i just told you, that i havent laid out here.
Then you take that into account with the overall price structure.
So the first thing you can do after opening the chart is to draw the primary support and resistance levels that includes the trend lines, horizontal areas, and patterns including the ascending and descending channels. I would suggest you to practice and polish your skills with the demo accounts first offered by any reliable and licensed broker like Fxview or XTB. Now that you’re talking about candlestick patterns, I’d say that the pin bar and engulfing pattern are my favorites. Pin bar is basically a candlestick with a long upper or lower wick and is very profitable. When trading price action, you need to look for the bullish pin bars at support and the bearish at resistance.