Stop making trading harder then it should be, use Price Action!
K.I.S.S keep it simple stupid , if this doesn't describe trading to the T then nothing else does. Too many times new traders and even seasoned traders try to over complicate trading by adding lagging indicators and too many trend lines trying to determine every tick of the market.
There is a much simpler way of trading, using price action. Having the skills and ability to read bare charts is priceless. Using price action you will be able to determine the trend and find areas to exploit . By using support and resistance you will not be relying on lagging indicators you will get real time information and know exactly what you should or shouldn't be doing.
How to use price action? Price action is simply defining what price is currently doing. If price is moving up, we say this is a bullish move/trend. During a bullish move we look for resistance to turn into support. Think of support and resistance as the room you are currently in, the resistance is the ceiling keeping you in the room and the floor is the support allowing you to stand.
For a downward move of a bearish move/trend we look for the opposite. Bears like to see support turn into resistance. Think if you are walking down the stairs and go into the apartment below you. All of a sudden the support in your room is not acting as resistance to the neighbor below you.
Once we determine these levels of support and resistance then we can begin to look at when we want to enter. Now there a numerous types of entries and exits that we talk about in the price action course that covers this topic from top to bottom! When we do enter trades off these level we want to see a bounce and a reject before entering this signifies to us that price is willing to continue with the current trend.
All of this can be done without any fancy indicators, now a trend line could help but keep it to 1 or 2 . Many of our students can and do trade without any trend lines due to the fact it keeps the charts nice and clean. Once you start adding tons of lines and indicator your eyes are going to be drawn to them more than the actual price action. Remember K.I.S.S
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