Understanding price action means collecting pieces of puzzles to fit them into the overall context l Forex trading without indicators
While trading is not the difficult but even as not as easy as we first anticipate while we make decision to trade Forex, We build several forex strategies, search several resources online for knowledge and opt for different style of trading with taking help of several indicators. But none of them work at all and atlast we left with nothing but to start it all over again.
Chart should be clear as crystal and context should fix with every price action move
While I spend years looking for help and certain methods to help me build any system that can help me make some money and built a successful career in Forex and Future market but all those years.
Let’s understand the whole chart step by step and see what are the rules we need to know to use supply and demand in Forex trading. First of all we saw a strong bearish pressure and a recovery which calls it bearish flag and this bearish flag has two strong supplies as mentioned in the above chart.
While price test the first supply and got rejected and found demand and when price test it the second attempt then because of the fact it was consumed so price had to find demand at the last big orders where price spiked off. After price went through this first supply it met with the second supply area and the rejection was obvious but we never expect them in real as price can ignore strong supply and demand areas anytime.
While price rejected of this supply it use to behave at the previous supply turn demand and price found new buyers there and now we see the approach to the real supply of the flag which was also a strong bearish pressure and top of the bearish flag and approach to this flag was quite compressed and all the orders get filled and we can short at this strong supply when we have such context fiting into the background and we don’t need any indicator and trendlines to tell us what to do in such scenarios.
