In technical analysis, Price action trading (PAT) system is simple to understand, compared to any other complex technical indicators.
Trader has to know few basic things in (PAT)
1. TREND a) uptrend
c) flat or rangebound
2. SUPPORTS / RESISTANCE
4 CANDLESTICK PATTERNS .
In PAT we analyze the markets as it happens on realtime and there will be no delay in interpretation of reading charts and completely read only price movements so we will learn to recognize the winning patterns.
BUT between HFT (high frequency trading), Quants and Smart money there is scope for false setups. so traders must have strict rules and should know when to get in and get out of the trade.