Question
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is price action prediction good for trading ?
9 Answers
<p>Traders can make use of several trading techniques to spot and follow price action trends such as the head and shoulders trade reversal. This is a great trading tool for new traders, as it allows them to effectively learn from their more experienced peers by chasing price action trends as they become visible.</p>
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<p>Price action trading can work, but the trader must understand that it requires a high degree of patience to successfully trade the markets using price action. If a trader wishes to use a price action strategy when trading they must be sure to have a specific plan for entries and exits, and they must stick to that plan.</p>
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<p>Price action trading is not perfect. In fact no trading system or strategy will be correct 100% of the time. The most accurate trading pattern used by a price action trader is the head and shoulders (or inverted head and shoulders) setup.</p>
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<p>Price action is the foundation of technical analysis, and it allows you to time your entries and exits more effectively without relying on news or opinions. Short-term traders make their trading decisions mainly based on price action and formations and trends. Charts that plot prices over time can be used to analyze price action. The different charts help traders improve their ability to identify trends, breakouts, and reversals.</p>
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<p id="isPasted">A large number of day traders use price action strategies to quickly generate profits over a short period of time. </p><p>As an example, they might look for a simple breakout from the session's high, take a long position, and use strict money management strategies to earn a profit. To trade price action, a number of tools and software platforms are available.</p>
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