If there is a forex trading education that seems to be somewhat unknown by the general trading public, it would have to be price action. But its older than any other form of trading method that you’ll ever find.

So it’s really surprising to see how many people aren’t fully aware of its power.

I think the main reason for this is a general lazy attitude that so many traders have towards trading. They would much rather have shortcuts like indicators, such as Stochastics make their trading decisions for them.

In the present time we live in, you can go to any forex forum online and get your fill of useless indicators, trading robots, and other stuff that just doesn’t work.

I suppose that all these gimmicks are popular, and this could be the reason why so many traders don’t understand price action. But here are just some of the things that they are missing by not learning this invaluable tool:

Price Action Patterns: Here is something most people aren’t aware of. The market has price action movements which can be used to tell where the future direction of the price is headed. The great thing is that it is duplicated over and over again, so you can literally enter and exit a trade a bunch of times during the day.

The Trend: Every trader worth his weight in gold should be able to spot and trade with the trend. The sad thing is most really don’t. The think oscillators like moving averages can tell them where the trend is. Sadly, that is just not the case. It can be seen by just looking at the price.

Support and Resistance Areas: I’m always stunned to see how many people think they are following the real support and resistance when they use these metatrader indicators. The truth is there is no indicator that can support and resistance. The faster you accept that, the better off you are going to be.