Price Action

Very important advice from hypostomus! Draw these support and resistance lines in your chart before you even take a trade, Dobbes. The 15m, 1h, and daily charts will help you to identify them. To learn price action you need a little background information:The market is a battleground for buyers and sellers. These two opposing groups come together every day and challenge each other to gain and retain control over the market. Now if you wake up one morning seeing that price is aggressively moving down, obviously sellers possess ferocious power. Going long, or even scalping on the long side is thus more challenging. If price is being rejected at resistance, sellers are starting to gain control and buyers will not come in until support is reached. Those minor swings you observe on the way down are just reactions, nothing more. They are not buying opportunites! You can observe this cycle in any market and this knowledge is what an experienced trader exploits to make a fortune.Thoroughly read through what I wrote above again and you have a jumpstart toward learning price action. Now comes your screen time. Practice, practice.