Been trading for a while but still struggle with reading price action properly.
Most indicators I’ve tried either lag too much or give too many false signals. Need something that actually helps with entry timing without cluttering the charts.
Price action works best when you focus on candlestick patterns at key levels. Look for engulfing patterns, pin bars, and inside bars near previous highs and lows. Volume helps confirm these setups. A pin bar with high volume at resistance is stronger than one with weak volume. Skip multiple timeframe analysis at first. Pick one timeframe and master reading it properly. Most traders fail because they overcomplicate things with too many confirmations. Practice identifying these patterns on historical charts before risking money.
Pure candlestick patterns without any indicators work best.
Support and resistance levels are your best friend here. Forget fancy indicators - just mark the obvious levels where price bounced multiple times.
I draw these zones weekly and they work across all timeframes. When price approaches these levels, watch for rejection candles like dojis or hammers.
The 21 EMA helps too but only for trend direction. If price is above it, look for long setups at support. Below it, short at resistance.
Been using this setup for years and it beats any oscillator I’ve tried. Simple works better than complex in forex.
Naked charts work better than you think. Just price bars and maybe one moving average for trend context.
The key is learning to read the story price tells through its movements. Look for areas where price struggled to break through or found buyers stepping in.
Most reliable signals come from watching how price reacts at these levels rather than relying on any indicator to tell you what to do.
Support and resistance work but you need to identify them correctly first. Most people just draw random lines.
