A Forex Trading Tutorial on Losing Your Indicators

When it comes to forex trading tutorials, there seem to be an infinite amount when you go online. But one thing becomes very clear when you start to look at the majority of them: They all deal with indicators. It's hard to find many trading tutorials that deal with pure price action (aka...no indicators). It seems like for every hundred forex tutorials on MACD, you could find one on trading price action.

For a technical trader, price action is critical. All the relevant information that is on a price chart can be seen without the use of any indicator.

If you haven't done so already, pull yourself up a simple bar or candlestick chart on your favorite charting platform. You may be used to slapping on a couple of indicators, but I want you resist that urge. That may be a bit tricky, especially if that's how you've normally traded.

All you have to do now is just look at how the price of the market moves. Pay even closer attention to when the markets are most volatile. What will become very obvious is that when you have really strong movement in either upward or downward direction, the price reacts a certain way when it reverts back in the same direction. This is where REAL support and resistance can be found.

It's simple, the more you study it, the easier it becomes to spot the future direction of the market. You should be able to tell where the trend has been and, more importantly where its going