Price Action Trading for Beginners: Learn how to use Support and Resistance, Japanese Candlesticks and Fibonacci Trading to read price action in any f - Paperback

by Alessandro Righetti (Author)

The greatest skill a trader can aspire to is to read pure price action without using any additional indicator. Forget about screens full of quantitative indicators or oscillators. Price action trading relies on a "less is more" approach in which the price is the only protagonist. In this book, we will see how to interpreter the behavior of the price for any kind of financial market (Forex, Cryptocurrencies, Futures, Commodities, Stocks) trying to track the footprints left by buyers and sellers to understand the possible future direction of the price.
What you will learn with this book

• How to spot and use Support and Resistance;
• How to identify and use Trendlines and Price Channels;
• The four Market Phases (Accumulation; Distribution; Trend) and the most important trend identification techniques;
• The six main characteristics of Price action;
• The three main characteristics of Japanese candlesticks (Shadows, Body, Close Price) and the psychology behind these formations;
• Two reversal patterns: Pin Bar and Engulfing;
• An introduction to Fibonacci Trading (Retracements, Extensions and probabilities of trend continuation);
• A simple but effective price action trading strategy;

This book includes numerous figures and charts to help you in understand the concepts presented. The contents suit more for a discretionary trading rather than an algorithmic one.