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What are some good entry points in Forex trading by using PA only?

Bustamante

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Price action (PA) is a term in technical analysis that refers to the movement of a security's price. Unlike using indicators or other technical analysis tools, price action involves studying the price itself to make trade decisions.

There are several ways to incorporate price action into Forex trading:

  1. Support and resistance: Identify areas where the price has repeatedly found support or resistance in the past. These levels can be good places to enter or exit trades.
  2. Trend lines: Draw trend lines on the chart to determine the underlying trend. Look for price action signals, such as a break of a trend line or a false break, to enter or exit trades.
  3. Candlestick patterns: Look for specific candlestick patterns, such as the doji or the hammer, which can indicate a potential change in the trend's direction.
  4. Breakouts: Keep an eye out for breakouts of key levels, such as a previous high or low, as these can indicate a shift in the trend.
It's important to remember that relying solely on price action may not always be sufficient to make trade decisions. Using multiple tools and techniques in your analysis can increase the reliability of your trades.
 
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