I was looking at a CADCHF long trade today and while the chart looked like a good setup, something did not feel right and I decided not to post it.
Why did it not feel right?
I have a chart setup that I look at everyday and have looked at the same layout for years. No changes are allowed. I learned the hard way that chasing that Holy Grail indicator is a fools game.
Price Action allows for you to dive deep and actually connect to the market. No layers, or interpretations. Just price.
Think about it, when you listen to the news, the first thing is “Amazon shares closed up today to $1,500”. The next thing you will hear is the talking heads explaining why. Something like “The earnings release was higher than the market expected.”
Pull up a Price Action chart that day and chances are you will see a support zone that Amazon bounced off.
The talking heads make money by telling you why something happened. Price Action will give you a heads up AHEAD OF TIME.