Price Action trading without Indicators
IN this post, I would like to guide you through the price Action technique, which is hard to find anywhere. It is just the way I approach price action and flag & how I look for best risk reward and rate the overall success of taking a trading which is more than 90% . Take a look at the chart below. There is a strong level that has been seen collection of orders up and down. Price has already maintain a fakeout zone market with black line on the left side. Now as price is approaching the level again, we have seen a compression & now as we see more PA unfold ahead of the price approaching the fakeout zone we will witness more volitality and final rejection would been around 143.70 level.
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I have already show the example chart above why I look for most respect price action zone & approach is to the level. Price is about sequence of puzzles and a combination of Action & reaction and Now, Finally we will witness the final reaction to the level. Stops could be place 15-20 pips above the zone which is already capped with a fakeout.