Is it possible to trade without indicators ?!
Recently, professional traders have begun to give up trading with indicators and assess the market situation by looking at quotations alone. The point is that they perceive the indicators as an obstacle to trading, considering that they attract too much attention and distract from the main one. But how exactly can trade on Forex take place without the use of indicators? You will learn about this in the article.
Ways to trade without indicators
There are several ways to trade without indicators (so-called Price Action) or with a minimum number of them. Here the main:
figures of the technical analysis;
Trading by price levels;
trade on patterns;
The trader has the right to sell or buy any trading tool for technical analysis, using information about the price index and the main price levels. In order for trade to be successful, it is worth noting levels of resistance and support on the chart. The price is directed from one level to another. Thus, finding weak or strong levels, a trader can expect a certain price move.
By conducting analysis on candles alone, you can trade without using auxiliary structures at all. In this case you will be interested only in the shadows of candles, their shape and time segments.
Candlestick analysis is very similar to pattern trading. The trader remembers certain patterns, and in case they appear on charts - go on a deal.
There is also a method of trading through averaging, using elementary calculation. Such a strategy answers questions about entering the market and closing the transaction without loss.
Another analysis without indicators is called wave. It is based on Elliott 's wave theory, which believed that price changes could be depicted as numerous waves. He argued that there is a pattern in the price movement and it always goes the same way. Trader only has to make notes on the charts, marking the necessary points.
The trading options described above are not the only ones. By how the price behaves, you can understand where it will move on - continuing the current trend or turning in another direction.
Don 't forget the schedule that carries all the important market information. But also don 't be fixated on an indicator-free trade! Trade in the way you understand and access - only so you can make a profit on Forex.