Forex Price Action Basics - Lesson 1: What is Price Action Trading?

 

Price Action is a form of technical analysis, which involves studying historical price data in order to predict where future price might be. This study of price data is usually performed on price charts (charts showing historical price data and movement of Forex pairs). Reviewing and studying price charts is the main concept of technical analysis. Analysing price action and trading using price action is a widely used and accepted concept amongst Forex traders. Hedge funds, banks and other trading funds use price action and technical analysis. 

 

Samuel Morton is a price action expert and is part of our Technical Forex Team. He is a professional Forex trader, a Forex trading mentor and

owner of the price action trading channel, lovethepips. You can learn more about Samuel, price action trading and his approach to Forex by

visiting his official Forex and price action website, www.love-the-pips.com

 

Forex Price Charts 101

 

The image below is a screenshot of a simple Forex price chart. The y axis - the vertical axis to the right - graphs the Forex pair price, the x axis - the horizontal axis at the bottom -  graphs dates and time. 

The Forex price chart shows historical price data of the Forex currency pair AUD/CAD (Australian Dollar/Canadian Dollar).     

samuel morton trader

Watch this lesson in video...   

There is a very high degree of risk involved in trading.Past results are not indicative of future returns. Technical Forex and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice.Information for forex trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of Technical Forex may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading Forex, Options on Forex, and any retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Technical Forex is not an investment advisory service, is not an investment adviser, and does not provide personalized financial advice or act as a financial advisor. Technical Forex exists for educational purposes only, and the materials and information continued herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments. You hereby understand and agree that Technical Forex does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein.

Technical Forex is dedicated to providing high quality content on Forex technical analysis

© 2015-2020 TECHNICAL FOREX