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Trading based strictly off of price action is one of the most intriguing strategies I have come across in my years as a trader. It's basically a bare-bones approach to technical analysis.
What you the trader would do is examine a bar chart free of moving averages, stochastics, MACD, and any other technical indicators.
For this strategy to work, you have to be proficient in the art of candlestick chart reading.
The best book to read to familiarize yourself with candlestick reading is Candlestick Charting Explained.
I personally don't like the idea of trading with no indicators at all. I need a bit more information before buying a stock.
What you the trader would do is examine a bar chart free of moving averages, stochastics, MACD, and any other technical indicators.
For this strategy to work, you have to be proficient in the art of candlestick chart reading.
The best book to read to familiarize yourself with candlestick reading is Candlestick Charting Explained.
I personally don't like the idea of trading with no indicators at all. I need a bit more information before buying a stock.
