Why you say indicators fail and price action always works ?

[brendyfx]

This is a different thread to my previous thread called "with and without trading indicators". Recently I followed a price action course at 2ndskiesforex after reviewing forex peace army reviews. Actually that was great experience with Chris and I realized that price action powerful and always works. I spent thousnads of dolors on indicators and systems and finally down to free Moving averages with price action.

Would like to listen to similar stories here.........

 

[GOR FX]

See what Brendy unlike indicators which are governed by the market moves,
Price action follows historical levels and basically obey various levels of
support and resistance. The reason why PA is such a strong force is: Many traders( both
retail and institutional) place their trades at these level and there is a consequent increase in trade volume.
Increase volume basically leads to rallies as observed in the past.
Indicators on the other hand have variable use and will not always be accurate.

Happy Trading
GOR

 

[FringFX]

There is nothing absolute, indicators don't always fail and price action does not always work.
To qualify, you need to use indicators and price action patterns/strategies that you are highly experienced with so you will attain greater success.

 

[perryfx]

There is nothing absolute, indicators don't always fail and price action does not always work.
To qualify, you need to use indicators and price action patterns/strategies that you are highly experienced with so you will attain greater success.

Totally agree with you. But we need to identify the most useful indicators first. There are so many indicators out there. Finding the correct one is not easy.

 

[perryfx]

See what Brendy unlike indicators which are governed by the market moves,
Price action follows historical levels and basically obey various levels of
support and resistance. The reason why PA is such a strong force is: Many traders( both
retail and institutional) place their trades at these level and there is a consequent increase in trade volume.
Increase volume basically leads to rallies as observed in the past.
Indicators on the other hand have variable use and will not always be accurate.

Happy Trading
GOR

Major banks and institutions are also following price action to track the special levels. However it is really hard to trade without indicators. Even a simple indicator will help to determine the direction. IMO we need both price action + indicators.

 

[GOR FX]

Major banks and institutions are also following price action to track the special levels. However it is really hard to trade without indicators. Even a simple indicator will help to determine the direction. IMO we need both price action + indicators.

well private perry,
Indicators make the charts lovely to watch and give us more entry points because after all RS and Supp zones aren't
hit daily on the higher time frames. But as a matter of fact, when the market approaches a key resistance or support area,
i just ignore the indicators and let PA so the work there. Thats my basis for long term trades.
And yeah I do use two MAs and the ichimoku cloud...
Good one though

 

[willforex]

Major banks and institutions are also following price action to track the special levels. However it is really hard to trade without indicators. Even a simple indicator will help to determine the direction. IMO we need both price action + indicators.

Totally Agree with you Perry on this one. Currently I have a mixed system to trade fx.

 

[Rambo35]

There is nothing absolute, indicators don't always fail and price action does not always work.
To qualify, you need to use indicators and price action patterns/strategies that you are highly experienced with so you will attain greater success.

I agree with your statement. It takes a lot of time to work on a good strategy, but the hard work is worth it.

 

[itkraze]

Actually Price action also fails sometimes but it works mostly. Another drawback of indicators will be too many false signals while these are less when we talk about price action.

 

[Red Herring]

I prefer use of Fibonacci and Trend line with Price Action, so I need not worry who is failing... and I feel we should cross check before making a trading decision.