How to Use Price Action on Any Time Frame
It's true, you can observe price action patterns (free from all indicators) on ANY charted time frame in any market. That means you can trade successfully even on a DAILY CHART.
So here's the Price Action basics for any time frame:
- basic trend lines. So many indicator-traders ignore basic trend lines. When you're trading price action, trend lines will be like your best friend. And they're SO easy to spot!
- key price levels... another overlooked factor. Very often your indicators will say BUY - but your PRICE ACTION KEY LEVEL will say DON'T BUY! You must pay attention. The most worrying thing about indicator-trading and auto-bots is that they cause traders (especially newbies) to stop paying attention to the most obvious story being told by price action.
- Price Bar Signals (there are a number of patterns that are easy to spot... and you don't need indicators to confirm them)
- HORIZONTAL Support and Resistance Lines. Using these lines is the fastest way to simplify your trading and start seeing success.