Best sources for advanced PA-based technical analysis?

T

TraderGreg

Hi. I am a novice trader who trades nearly entirely off PA and chart patterns.

However, after books, a few trading sites, and some experience, I still feel that there is much more I can learn from other sources (I just learned about the 2B, for instance, and I have not seen good enough sources on the butterfly to understand it).

Where can I find more advanced concepts of price action? Thanks for your help!
 
Hey Greg

Can you clarify what you mean by PA exactly? Over the years I've seen it mean widely different things.

Smurf

PS: Suri's book is pretty good, tis true.
 
Quote from Smurfie:

Hey Greg

Can you clarify what you mean by PA exactly? Over the years I've seen it mean widely different things.

Smurf

PS: Suri's book is pretty good, tis true.
More...

Smurf,

What I refer to as PA in my trading is predominately chart patterns - mainly formations like triangles, channels, reversals, etc.

What does Suri's book offer that I won't see in a normal trading book? (This didn't really help that much, but I thought it was pretty funny http://www.youtube.com/watch?v=BNRuxUX1sNM )

Basically, I'm trying to accelerate my feel for the market by identifying patterns in prices that would otherwise take me a longer time to get a feel for.

I have a good knowledge of the basics, but really any quality works I feel will help (even possibly analysis on differing methods of drawing trendlines).

Book or online sources are fine. I have gone through maybe 3 or 4 books on chart patterns along with a few online such as investopedia, a few others, and only recently learned about the 2B here http://www.dacharts.com/setups.php

Thanks for the help!
 
Hey Greg

Then Suri's book is definitely for you. I suppose the others you read were the usual suspects (Edwards/JMcgee, Bulkowski, Schabacker). Graifer and Scumacher go into formations for individual stocks in "Techniques of tape reading."

If you want to add single bar analysis (and variations hereof), Nison's first book on candlesticks is good as is Morris'. The discussion board ForexFactory.com has a jumbo thread on price action understood as single bar action off support and resistance (rank according to replies and it will be #2 or #3; it has over 10,000 replies).

There are a couple of threads here on Elte about PA trading; not patterns per se but certain formations off support and resistance. I'll try and find them.

Cheers,

Smurf
 
Quote from Smurfie:

Hey Greg

Then Suri's book is definitely for you. I suppose the others you read were the usual suspects (Edwards/JMcgee, Bulkowski, Schabacker). Graifer and Scumacher go into formations for individual stocks in "Techniques of tape reading."

If you want to add single bar analysis (and variations hereof), Nison's first book on candlesticks is good as is Morris'. The discussion board ForexFactory.com has a jumbo thread on price action understood as single bar action off support and resistance (rank according to replies and it will be #2 or #3; it has over 10,000 replies).

There are a couple of threads here on Elte about PA trading; not patterns per se but certain formations off support and resistance. I'll try and find them.

Cheers,

Smurf
More...

Smurf,

Can you tell me the title of the thread? It seems there are several threads with over 10,000 posts.

Also, two of the three books I checked out from the library happened to be Bulkowski, and the other was Fischer. I have a book at home, but I don't remember which one it was (Wiley Trading book of some sort).

I have been through Nison, and a few other books that cover the basics of several trading concepts combined (candlesticks, patterns, common indicators).

My main goal is to find concepts I haven't seen before and see if they appear anywhere in the Eurodollar (what I trade). Will Suri's book have new concepts not found in others?

Sorry to be a bit hesitant, but I have chipped off several hundred dollars worth of books, and I want to make sure anything I buy is worth it (as a early college student I don't have too much to start out with).

By the way, I have found threads like "Intraday FX Player" to be the most helpful. I am about half way through it

I appreciate the help.

Thanks,

Greg
 
Quote from TraderGreg:

Hi. I am a novice trader who trades nearly entirely off PA and chart patterns.

However, after books, a few trading sites, and some experience, I still feel that there is much more I can learn from other sources (I just learned about the 2B, for instance, and I have not seen good enough sources on the butterfly to understand it).

Where can I find more advanced concepts of price action? Thanks for your help!
More...
===============
Best bang for your buck;
main library in biggest city near you.:cool:
 
Hey Greg

The thread is called "James16 Chart Thread." It's here. I think if you shop around the Factory there'll be lots of threads on trendlines and 1-2-3 formations and such. Some guy named Mouteki had a huge thread on trendlines which he got from DeMark I believe. And there are PA threads here.

The good thing about Suri's book is that it's written by a trader, and so every pattern comes with precise trading guidelines.

Other than that I can only recommend poring over charts of various timeframes and working out the patterns. Just watch out for hindsight bias.

Cheers,

Smurf
 
Quote from Smurfie:

Hey Greg

The thread is called "James16 Chart Thread." It's here. I think if you shop around the Factory there'll be lots of threads on trendlines and 1-2-3 formations and such. Some guy named Mouteki had a huge thread on trendlines which he got from DeMark I believe. And there are PA threads here.

The good thing about Suri's book is that it's written by a trader, and so every pattern comes with precise trading guidelines.

Other than that I can only recommend poring over charts of various timeframes and working out the patterns. Just watch out for hindsight bias.

Cheers,

Smurf
More...

Smurf,

I did come across that thread, but I wasn't sure that was the one you were referring to. I also ordered Suri's book.

I will be sure to do some more chart studying. I have some new formations to learn and study, however.

I have plenty of work ahead of me. Thanks for the advice,

Greg
 
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