A common trading method is the use of 5 min. charts, and trading using price action analysis. This method of trading is about as empirical as one can get! It utilizes the use of candlesticks, horizontal support and resistance lines, and trendlines. To give you an idea what’s involved here, below is a 5 min. chart of EUR/USD, heavily annotated by a price action trader.
To understand the amount of analysis that occurs in a price action chart, the next figure is a detailed analysis of a section of the above chart, (the blue rectangular section) of the above EUR/USD trading chart, with comprehensive comments.
For real time charting, one can use a free charting tool like Metatrader 4, or use a number of proprietary chart tools. Either way, the method is the same. Horizontal resistance and support lines are drawn, retracements are assessed, reversal patterns are noted, and confirmed by the appearance of candlestick patterns such as doji, evening star, haramai patterns, etc. When one is convinced that the price action signals are convincing, the trader will wait for a good entry point. Initiating a trade driven by a signal, it is then considered ‘triggered’.
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In the video below, the enfolding market trends and price action analysis are described real time by an experienced trader. You may do well on your own, using price action trading methods. In real time trading, many have opted for a signals service, either free or paid.