All about price action - part : 01

Hello friends, How are you? I hope you are well. I'm doing great too. Today I will share some basic concepts of price action. I hope you will enjoy it.

There are so many traders in the market. Each of them has their own strategy. Some of the traders trade based on indicators and some of them use price action.

Although, Price action is the must thing you have to know for doing trade. Everyone has to know at least the basic concept of price action.

First of all, let's talk about support and resistance. Actually, that is the major thing we all traders have to keep in mind. Most of the time we always find support and resistance when we open the chart.

To know the market structure it is obvious to draw support and resistance. By knowing the support and resistance area we can easily predict the price.

By drawing a line into the most touched zones we can easily draw support and resistance. A resistance can be a support and a support can be a resistance after they broke.

Secondly, we have to identify the trend. We won't take a trade in the opposite direction of the trend. If the market is in an uptrend we will trade to the upside same goes to the downtrend market.

I saw some master traders videos, they always say that " trend is your friend". So, we will not take trade to the opposite direction of the trend.

Do trade especially in the key zones. The key zones give us high-probability trades. Even when I take trades on key zones that goes to my favor within a short time. I don't have to wait for a long time.

Trading is a hard thing. To be a good trader we have to control our minds. Our emotions, our ego. These are the most common things in traders.

Over-trading, It kills every trader. we can also say that "greed". If you do overtrade that write my words you will surely blow your account. Each of every trade should have the losing amount and profit amount for one day.

They will not trade after they reach their limit. I think if we do all these things we can be a good trader. Hope you enjoyed my words. That was for today. Thanks for giving it a read.