I (somewhat) disagree. Price action in the vein of Johnathon Fox and Niall Fuller is a dead end road. But that’s the lazy man’s price action. Entering on the break of pin or engulfing bars at S/R levels and crap like that.
Price action goes a lot deeper than that. Fox and Fuller will make their calls and place their orders (if they actually even trade; they probably earn enough from memberships to make a decent living), the trade will trigger and then reverse and they’ll get stopped out. Meanwhile those who trade real price action are chuckling at the sucker play and trading in the opposite direction - where the market intended to go all along.
These threads tend to repeat themselves. Newbie spots a pattern, posts it up. Other traders confirm their entries too. The trade goes on to be a winner and they all pat themselves on the back for their 3:1 risk:reward win. The trade goes on to be a loser and the thread goes quiet until the next pin bar forms. People get discouraged and leave after a few months, and then say price action doesn’t work.
The thing is, price action does work. That type of rubbish is only one small facet of price action. It’s like living in a mansion, and then just sitting in the bathroom and saying “this house is useless for preparing food.” There are profitable PA traders, but you can be sure that they are not trading this warped concept that has somehow come to be viewed as the be-all-end-all of price action trading.