What is Price Action?
It is the discipline of making Buy/Sell decisions in Trading based on the Price itself and nothing else. Additionally you use one or two moving averages to identify Support and resistance areas. Since every securtiy generates bulk of data around the price which caries over the period of time. This data can be represented in the form of charts.
Price charts can be of various types as below:
1) Line chart which is drawn by joining the Price points in any given timeframe over a period of time.
2) Bar chart which shows price in the form of bars during that interval.
3) Candlestick charts which plots candles on the basis of open, High, Low and Close in any period defined period of time.
4) Heikinashi Candle are the special types of candle. I have explained them in detail in below video link:
How Price Action can be Traded?
Price action can be traded in many ways.
Support is the demand zone/Accumulation zone where buyers exceed sellers.
Resistance is the supply zone/Demand zone where sellers exceed buyers.
When price breaks above Resistance or breaks below support decisively then trading scenarios are generated. But for confirmation Candlestick patterns and higher timeframes are used.
If you want to learn Entry and Exit criteria in detail then check this video link:
Check out my video tutorial below on Price action trading which is highly beneficial and many traders have find it useful in their Intraday Trading strategies.