What is "Price Action"?
In fact, in answering the question 'what is price action?', it could be said that it is really the study of the actions of all the buyers and sellers actively involved in any given market. Therefore, by analyzing what the rest of the market participants are doing, it can give traders a unique edge in their trading decisions.
'Bhav Bhagwan Che' - is an old time Gujarati saying in the market which loosely translates into 'Price is God' in English.
Now if you'd like to keep God away from worldly matters then this simply means price action is all you need to know while trading the markets.
In the short form, 'Price Action' is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators. It helps to predict the future of the market with a very high and reliable degree of accuracy. The most commonly used price bars which are used as a price action indicator, are called candlesticks.