Hello traders. Is here anyone who mastered price action trading methods?

Beginner Questions
1

Hello.
I want to learn price action trading methods which uses support and resistance lines only other than technical indicators.
I studied something on the internet but I think an experienced trader can help me to understand well.

1 Like
2

Hellooo! :blush: Have you tried going through the school here too? :smiley: That might also help your understanding of price action. I think there are a lot of experienced traders here who have more or less a good grasp of price action, but if you’re looking for a mentor, I’m not sure they’d be willing. :sweat_smile:

3

But if you have any questions about it as you’re trying to get more used to it, I’m sure there will be those who can help here! :blush:

4

I think support and resistance lines will only get you so far.

Since you’re reading charts without indicators - naked as they say - you’ve got other areas to build your competency in.

I’d start focusing on market structure, looking for higher highs and higher lows in an uptrend or the opposite, lower highs and lower lows in a downtrend. Combine that with determining whether the market is ranging/consolidating, so sideways action in the movement of price, bouncing between highs and lows.

Next, find your support and resistance, learn candlestick patterns and individual or small group candle behavior and price patterns. So thing like pin bars and inside bars, engulfing patterns, head and shoulders, triangles, double tops and bottoms.

Trendlines help you organize a lot of that, and can act as dynamic support and resistance levels, or build channels that price likes to move in. Put only using trendlines will be a tough go.

I think you should also spend some time on understanding liquidity, because without it, there is no price action. So you’ll hear about concepts like “smart money” or “order blocks” and I think there’s some benefit unlearning about them.

Lots to learn!

3 Likes
5

I know the basics of that, but to master it… I doubt anyone does

6

Any trading is price action, because we react to how the price acts.
The only way to master any kind of trading is to backtest a million strategies (your own ideas and by others) and find the one that works.

7

Backtest a million strategies.
To find the one that works.

Hmmmmm…

8

Pure logic. But there is one workaround: find a profitable trader (with verified track record) that agrees to share their strategy with you. If this trader is not your family or a close friend, the chance of this to happen is close to zero (but there is one workaround too: learn from their stats on myfxbook).
There are lots of scammers that don’t know how to trade, and don’t have a verified track record, but they will lovely share their “strategy” with you. Usually for a nice payment, in the form for a course, a book or a bot :wink: