Well surprisingly Nial Fuller's site is about Price Action Trading - But for Forex. However, the principals are explained very well in his thread, and can be used for trading currencies, commodities or stocks and is a MUST read. Whatever you can get on Price Action Trading, just read it.
I lay great importance of trading Price Action. What are indicators? What do they tell you? After 10-20 bars MACD, Bollinger Bands, MA, Stochastics, RSI will tell you something that price action has indicated or warned you much earlier.
Just because RSI/MA/ADX is rising, will that prevent a fall? If you know about price action, you can know if the price is hitting a major resistance, and likely to fall - Not necessarily, but likely and hence it can prepare you much ahead as to what will happen before the indicators will tell you.
I am not saying that Indicators or ALF based trading cannot be used. Am sure that there are many traders using the same profitably. However, Price Action is FIRST AND OF FOREMOST IMPORTANCE in my view. MA's and other indicators can be used as a secondary confirmation.