PRICE ACTION STRATEGY IN QUOTEX
08/01/2023, 20:31 WIB
There are various ways / strategies in carrying out trading activities. One of the most well-known is to use price action or commonly called price action. Trading using this method is classified as very easy but accurate.
What is Price Action?
Price action is a trading strategy by looking at the opportunities created in candles. This strategy uses a trend follow technique (following the direction of the trend). If the market is in an uptrend, then we will follow the direction of the market, namely opening up positions and vice versa.
From the picture above (uptrend section), a white candle (green in Quotex) is a candle that indicates the price is rising. The picture shows that a white candle appears continuously which indicates an uptrend market. If you find market conditions like this, I suggest opening an up position. Based on research, this strategy has a fairly large success rate, ranging from 80 to 85%.
On the other hand, if you are in a downtrend as shown in the picture above, the market will be marked with many descending candles (red candles in quotex) . You can follow the trend (follow the trend), namely open a lower position because the market is in a down position.