If you are sick of charts overloaded with indicators then the following material will help you to view the markets in a simpler, more effective way. Although traders tend to use different tools when trading forex, I will walk you through the tradeology price action forex classic way of trading.
It is a price action trading system. Price action trading in forex is a trading method based solely on analyzing previous price behaviors. This means that a trader analyzes market conditions on a naked chart without using additional indicators or oscillators. The most important process in a price action trading strategy is in identifying ongoing trends.
The trend is really your friend. You should always try to trade in accordance with the prevailing trend whenever possible. Price consolidation is when the price is ranging without any clear direction. This means that the price of the forex pair is not increasing or decreasing. It is rather moving sideways, and usually not providing any high probability trading opportunities. For most traders, a good trading rule would be to stay out of the market when the price is consolidating in order to avoid whipsaws. Some traders tend to attack currency pairs when trend lines are getting exhausted.