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When we start out as a Forex trader, we usually dive into the world of trading with three or four technical indicators. We end up drawing enough trend lines, support, and resistance levels on a chart and clutter it enough to build a brand-new board game from scratch. However, as we invest more time to understand the market structure and learn why prices actually move in the market, we start to realize that even the most advanced technical indicators are just representing all the price action information we can already see on a naked chart. With experience, we realize that when it comes to Forex trading, less is more.
As we start to toy with pure price action trading, be it various candlestick patterns or single bar reversal patterns like a pin or bullish or bearish engulfing bars, we start to comprehend that trading price action can be more profitable than using a combination of lagging indicators.
With this knowledge, our overall trading performance reaches a new height. But we always...
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