Basically what I look for are different buy an sell zones. I like the zone in blue for a buy because it was resistance back in February, then price blew past that level. It has come down and tested that zone in blue a few times. Another thing I look for is big green or red candles, which tells me there is a lot of buying and selling at a particular price. When some one refers to price action, they are basically saying to watch and see what the candlestick pattern does in at certain price level (0.01500) so in this case you can see the candle went into the zone and a bunch of buyers came in and bought it up. The wicks on the candles are a good indicator of rejection. I hope that kind of answers your question, there is no right or wrong way to trade. I would say to find a particular style that fits your personalty and stick with that. Good luck trading.
Trend trading is one of the simplest and most powerful methods of trading. I would say just stick to your stops and be patient, I know those seem like worthless platitudes that everyone throws around, but if you can be disciplined you can make some serious progress.