Technical indicators may be a great way to gauge the direction of the market and signal potential entry points but a common mistake with traders is believing indicators offer guaranteed profitability. Sometimes they can be extremely misleading, and many traders prefer to trade without any indicators at all, this is called "price action trading". Price action trading technique is when a trader reads the market and make an educated decision based on the actual price movement on a level two chart, much better than relying on lagging indicators. The fact is, most indicators are unnecessary as they function off of past information on the chart. When done correctly it can be extremely rewarding.
Top 3 price action trading books: