My nq price action method

[Redneck]

TD,

Thank You Sir for kind words

But Ya know..., just a dumbass redneck doin what i can (already told Slugar.., unequivocally... and ultimately - it is up to him - as it is for all of us)

All the Best Sir

RN

 

[slugar]

the buying or selling pressure is such that price isn't allowed to go very far from the channel line

 

[slugar]

So RN is using volume at price a good place to start as far as looking for support or resistance?

 

[Redneck]

the buying or selling pressure is such that price isn't allowed to go very far from the channel line

This answer leaves me with the impression you’re seeing / making up things – that aren’t present


Allow me to pose it again;

Comparing the down move channels against each other

Or

Comparing the up move channels against each other

Other than color – what is different…, what does that difference mean…, what does that difference represent


==============

Work with what is present - 8 lines.., comprising 4 channels - 2 up move channels...., 2 down move channels


RN

 

[slugar]

The only difference I see is the amout they travel from one end of the channel to the other

 

[Tonkadad]

This answer leaves me with the impression you’re seeing / making up things – that aren’t present


Allow me to pose it again;

Comparing the down move channels against each other

Or

Comparing the up move channels against each other

Other than color – what is different…, what does that difference mean…, what does that difference represent


==============

Work with what is present - 8 lines.., comprising 4 channels - 2 up move channels...., 2 down move channels


RN

I always agreed with the saying " everything you need is in the charts" but am realizing I didn't understand the full meaning of that statement.

Thanks for sharing some more of the nuances. I see these patterns and shapes all day but didn't really think what was behind them and the potential meaning of them.

To me at this stage of my progress, its like a sea saw, which way is it leaning, not a guarantee, but a probability.

I remember a teacher saying that you can look at something but not necessarily see it, thanks for helping me "see it".

 

[Redneck]

So RN is using volume at price a good place to start as far as looking for support or resistance?

First.., a comment about the terms S & R

====

S &R can come in the forms of;

a specific price / an area (horizontal range) / or a boundary (diagonal range - such as in the form of a channel)


From a trading perspective – they are the same – meaning they have similar properties…, and similar affect – on price

The only differentiator is price’s location / reference – to each

iow - the context



An area / price / boundary - above price – is typically called resistance… however.., once price moves above this area / price / boundary – it is then called support

==========

Please keep this is mind – as we discuss PA… and as you look for cues & clues…, you trade PA

===========

Okay…, on to your question

Volume – either present in abundance.., or noticeably lacking – are foot prints of the big boys (not all the foot prints – but two important sets)

The big boys create the S & R – albeit in the form of a price..., an area (horizontal range) / or a boundary / boundaries (diagonal range(s)) – via their action / inaction (trading)

We must always be cognizant of these


My long winded answer to your question is; absolutely



RN

 

[Redneck]

The only difference I see is the amout they travel from one end of the channel to the other

The difference is the width of the channels

Wider the width = more volatility

Volatility = indecision/ lack of control


Narrower the width = lack of volatility

Lack of volatility = predominance of control

=============

The narrower channel up = buying in control = move likely to keep on truckin

The narrower channel down = selling in control = move likely to keep on truckin


Whereas the wider channels equate to more indecision – likelier the move is nearing its end (at least for the time being)

=====================

All part of reading PA

Nuances matter a great deal in this business.., and will make all the difference

RN

 

[Redneck]

I always agreed with the saying " everything you need is in the charts" but am realizing I didn't understand the full meaning of that statement.

Thanks for sharing some more of the nuances. I see these patterns and shapes all day but didn't really think what was behind them and the potential meaning of them.

To me at this stage of my progress, its like a sea saw, which way is it leaning, not a guarantee, but a probability.

I remember a teacher saying that you can look at something but not necessarily see it, thanks for helping me "see it".

Yeah..., its a matter of developing one's eye

Similar to an art expert's - ability to differentiate good art from the bad - I imagine

(an art expert I am not by any stretch)

RN

 

[Redneck]

The difference is the width of the channels

btw.., not only is the width of a channel important.., and a cue/ clue

But so is the angle of said channel

It another important cue/ clue to add to the mix when reading / deciphering PA

RN