Discretionary Price Action Trading

For those of you that dont know what this is, its definately time you learnt, and fast or you will inevitably blow your account chasing the elusive holy grail forex system. Discretionary price action trading is not a technical indicator, its not even a combination of indicators, its reading what the market is telling you about price behaviour and movement in the PRESENT.

It can tell you when the current move is running out of momentum through candlestick patterns! It can tell you when the current move is going to continue at a rapid rate on the break of important support or resistance! It can highlight possible retracement areas with the fibonacci ratios! It can warn you of a major move even before it happens with breakout chart patterns like flags and pennants! So if Discretionary price action trading is so great why isn’t everyone using it and why is it not all over my forex brokers website!?

The simple answer is you cannot buy Discretionary price action trading in a packaged, advertised and marketed commercial trading system. Learning to trade Discretionary price action requires skill, education, patience and time. Discretionary price action takes years to master, and by master i dont just mean understanding and being able to use price action, i mean being able to feel the market, being able to use your own discretion when it comes to judging the strength of support and resistance, whether or not that particular fib level will hold, whether the preceeding trend is strong enough to trade that particular inside or pin bar , whether that potential candle pattern your watching will form or fail.

Discretionary price action trading requires you to constantly think, analyse and adapt along with the market and this is why it is so powerful! So from this day forth throw away your lagging indicators, pull up a naked chart and start looking at what the market is telling you right now, i guarantee you will not regret it! If your not quite sure where to start when it comes to trading price action take a look over at my website, over at the daily technical analysis blog everyday i post my technical analysis and potential set-ups for a range of different currency pairs.