Can you trade by price action alone?

the smaller you go,the stickier it gets,heres a 2yr 3day chart,sort of a half week chart,the ovals below ffidays close give a lot more points to stop and bounce off of only to be met with a nearby one,same thing,so it gets a lot choppier,meaning more trades and an increased chance of losses,closer points mean smaller profits
 

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Quote from FreakofNature:

Ammo,

What about the areas of low volume (Small bars) on your volume profile, arent they areas of magnetic value as well?

FoN
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yes,they are marked,it goes from nip to cleavage and then on to next nip or return to previous nip,sometimes ledge
 
Quote from FreakofNature:

Something I read in another location

"Price action, the most elegant way to describe the past in charts"
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That does not make any sense. I think you mean indicators. The price and money flow right now will ALWAYS tell you what is happening, because it is real and is really happening.
 
short term we stopped in that 115.90-115.25 cleavage,we can fill the lower edge(115.25) and return to the upper x or drop to the lower x,so you wait for the mrkt to give you a direction and ride the bus to the next stop,oversimplified,but the chart maps out the destinations,timing the entry ,risk management,and holding to target are trading tools needed to be programmed into your brain
 

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Quote from zjulian104:

All the same, had the 1min been what you used, you're late short, and entirely too late long. The text being eliminated to confirm placement we can only assume sleight-of-hand. I'ld hate that coming from a moderator, but everyone here at one time or another has used NinjaTrader. So this is familiar territory.

In any case, resistance stops when the market hits them and has decided on an accumulation rotation notes instances of weakness and tests them all at the same time when and only when they're good and ready. The opposite is less true short. The tendency is to immediately put in a better print and test the validity of the short.

Too, that last pull-back in CL lasted a better-part of 90min. A price action reader would've benefited pulling up a 90min chart to validate single-bar resistance push-ups and pull-backs.

Here again, what's left for the gander whilst gandering, can be confirmed by an momentum indicator or volume but definitely giving a side using both.

The point, and it's irrefutable: you can't swing or position profitably and replicable reading price action alone in the long-term.

Trade your money that way. Not mine.
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Price action alone. Not a good idea.

Price action, with some context, market structure knowledge, and some math is a great idea.



What I find comical is that the one time I do post a chart you think I'm using slight of hand when my entries and exits are right on the damn chart lol. Thats fine, I won't post any charts . Next time if I do ,I'll just take a picture with me holding my broker statement up next to my face. That should make sure and let everyone know I'm a true winner and serve my ego really well shouldn't it?
 
Quote from Dackster:

Trading off PA alone with no prior knowledge of market action is nonsense put around by idiots.
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Okay ill short 3k shares of this 1day chart with NO care of prior "market action" because this is happening
 

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Quote from Zr1Trader:



What I find comical is that the one time I do post a chart you think I'm using slight of hand when my entries and exits are right on the damn chart lol. Thats fine, I won't post any charts . Next time if I do ,I'll just take a picture with me holding my broker statement up next to my face. That should make sure and let everyone know I'm a true winner and serve my ego really well shouldn't it?
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Actually what I find comical is that you must go through the trouble of annotating your entries and exits when almost every package does it for you automatically.

Things that make you go hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.

:D
 
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