Scalpers Forex System needs always holygrails Some info from forex holy grail system pdf :
Price Action… I think you already heard these words if you have at least a little of experience in trading financial markets. Do you know the definition of the Price Action? Let’s ask Wikipedia and see what it can offer us?! According to Wikipedia “The concept of price action trading embodies the analysis of basic price movement as a methodology for financial speculation, as used by many retail traders and often institutionally where algorithmic trading is not employed.
Since it ignores the fundamental factors of a security and looks primarily at the security’s price history — although sometimes it considers values derived from that price history — it is a form of technical analysis. What differentiates it from most forms of technical analysis is that its main focus is the relation of a security’s current price to its past prices as opposed to values derived from that price history. This past history includes swing highs and swing lows, trend lines , and support and resistance levels.”
I also found one more definition on a website called Investopedia and here is what it says about Price Action. So according to Investopedia, Price Action is “the movement of a security’s price.
Price action is encompassed in technical and chart pattern analysis, which attempt to find order in the sometimes seemingly random movement of price. Swings (high and low), tests of resistance and consolidation are some examples of price action. The candlestick and price bar are important forex tools for analyzing price action, since they help traders visualize of price movement.”
Then Investopedia says the following “No two people will analyze every bit of price action the same way, and that is why a lot of traders find the concept of price action so elusive. Quite literally, price action is everything that a security’s price does, and just like every other facet of analysis, it is purely subjective.”
So as you see Price Action is really so elusive taking into consideration every trader may have his or her own understanding of the matter. But there is one common thing for all traders no matter how they understand the meaning of Price Action. And these are the candlesticks.
Dealing with candlesticks and understanding their formations and behavior – this is what important in Price Action and this is what every Price Action trader should understand. Though with the help of my method, you do not need to learn Price Action analysis and all aspects of it in case you do not want to spend years on learning these things. As you already know accordinto the definitions provided above, Price Action is so big topic and at the same time so elusive so you never know if you learnt everything about it. In fact you even do not need to learn everything on this topic.
I have my own understanding of Price Action and my method which you’re going to learn here is based on the principles of how I understand these two words Price Action. For me Price Action is the correlation of the price behavior represented by candlesticks and the indicators applied to the chart. When we learn how to interpret the behavior of price based on what candlesticks show and at the same time when we take into consideration what our other indicators show in fact we do Price Action analysis.
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