BEST Price Action Strategies For Day Trading Forex And Stocks!! ( ADVANCED Technical Analysis )

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Price action trading strategies can give you high returns when it comes to technical analysis. So in this video, I will be sharing some of the best price action trading strategies that work like a charm.

First, lets understand what is price action.

Price action can be simply defined as the historic movement of the price over a particular period of time. Price action helps us in understanding the historic behavior of the price. If we can understand the behavior of the price, then we can effectively predict the future movements of the price.

Price action trading generally consists of technical tools like candlestick patterns, support and resistance, trendlines, Fibonacci retracement, etcetera. But, a trader can combine price action and technical indicators to find the best possible trading opportunities.

The most important point of price action trading is to identify the phase of the market, and trade accordingly.

So now, lets discuss the different phases of price action.

The price of an asset generally moves in two phase.

The trending phase. And the ranging phase.

A trending phase can be identified when the price is moving in an upwards direction or a downwards direction.

In an uptrend, we see that the price makes higher highs and higher lows. On the other hand, in a downtrend, the price makes lower highs and lower lows.

When the price is in an uptrend or a downtrend, we will look to enter the trend on the pullback.

The price of an asset is in a trending phase for about 30% of the time. For the rest 70% the price is in a ranging phase.

A ranging phase can be identified when the price stays in a sideways range for extended amounts of time. This happens because the price is stuck between a major support and a major resistance level.

In sideways phase, we will look to trade at the reversals on support and resistance levels, or, we will trade the breakout of the range.

Now that we have understood the phases of the market. Lets now examine different strategies that we can apply to different market phases.