People usually ask me about what kind of chart can trade based on price action? This is the really important when traders have some confusion about their methodology, mindset, and trading plan. Price action is really clear, you can trade what ever you wants. The point is to find the best charts to trade. In fact, choosing the best chart to trade is the first thing, price action traders do.
First, look for the clear Trend, when you find the clean trend like the chart you can see above, then wait for the best price. Patience is the second key of success. wait for the moment, let the market breath.
Secondly, when you found the great chart, with clear price action, just take action. For instance, in the chart above you can see the clear trend in Walt Disney daily time frame, which has a up trend. If you are any doubt about trend here, you should stop working, and taking the PA course again from A-Z.
there is no hard process, hard thing for traders is how to distinguish, deal, and manage the trade. you can see the entry price on 109, with the safe zone, and with open target price.
DISCLAIMER: Futures, stocks, Forex, and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks, Forex, and options may fluctuate, and, as a result, clients may lose more than their original investment. The impact of seasonal and geopolitical events is already factored into market prices. The highly leveraged nature of futures trading means that small market movements will have a great impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains. You are responsible for all the risks and financial resources you use and for the chosen trading system. You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor.
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