Indicators vs Price Action

I’ve seen a lot of traders saying indicators are good for general analysis, but price action is the only way to go for entry and exit.

What is everyone’s thoughts here? Any successful traders using only indicators? It not, what’s your approach?

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Bear in mind indicators are lagging - and so is price action. That’s why there is no clear cut solution to the best entry and exit point.

I am gradually coming around to taking the best probabilty trade from a naked chart, whatever strategy I use - but utilising S & R zones as an indicator, and keeping my S/L well away from the trading masses that gather at these levels. Thought you were the only trader hanging around there? Just right for institutional hunters eh?

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I personally like price action. Everyone has his own choice and understanding. What works for you, may not work for me as people have psychological difference.

Using technical indicators as entry and exit signals is like using a map when you’re at a red light. The red light tells you to stop, not the map: the green light tells you to go, not the map. The map is useful - it gets you onto the right street, but it won’t drive your car for you.

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I believe in analysis and not forecasting :100:

@tommor
Very well put :+1:

What specific price action or entry criteria do you use?

that’s always been my approach (apart from maybe in my first 6 months when i wasn’t profitable at all)

i doubt it very much

definitely YES.
I depend on only one indicator, RSI
I trade 2 to 3 times a week