So for me, my preferred price action analysis techniques, I have always been adamant about keeping things simple. So as such, the biggest important component of my techniques in price action analysis is I use very frequently or very adamantly use horizontal support resistance as one of the key elements that I look at. The other very important thing that I may use very frequently and commonly use is what I call the horizontal support-resistant reversal phenomenon.

As you can see in this chart example over here where key supports after being violated become key resistance. So these are the horizontal lines that I pay very, very close attention to. And in fact most of my personal trading setups to enter a trade or even exit a trade happens at this kind of levels if I am able to identify them in any of the instruments that I’m tracking.

And of course the next very important aspect that I use with very diligently and religiously is what I call the trend lines and the trend channels. So to put it very simply, my price action analysis techniques really mixed use of this three important elements. Of course, I do use other things like trading volume, even moving average as such, more of confluence factors. But primarily my action price action analysis techniques makes use of these three main things.

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Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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