Understanding price action

[wrbtrader]

NQurious is a lying sack of you know what.

I've only stated traffic coming INTO ET...not away. To be specific, traffic coming from Tradingview into ET.

Please update your reading comprehension skills.

Once again...traffic is leaving Tradingview and going INTO other social media sites like ET, Stocktwits and Twitter. In addition, I specifically stated I enjoy ET...its my favor place to hang out and have a beer.

You're now welcome to twist that above statement too into your own agenda or false narrative.

For the record, it was me that reached out to Baron to inform him of a medical situation to prevent a similar situation from happening again that had occurred back in 2016 when I suddenly (without notice) left the forum via no control of my own.

He then responded in kindness with concern and questions.

Yet, another attempt by you to create a false narrative. NQurious, try and have a good day...my last word on this issue.

wrbtrader

 

[NQurious]

NQurious is a lying sack of you know what.

I've only stated traffic coming INTO ET...not away.

Personally, Elitetrader.com is the last social media place I would post any education info about price action trading. Many years ago it was suitable for such like the early 2000's but things changed around the 2008 - 2010 global financial crisis and the rise of Twitter, Stocktwits and TradingView.

Elitetrader.com is now to me just as a place to hang out and drink some beers...that's a good thing too. Less crowded about trading issues...reason why I get my fill of technical trading from elsewhere

Have a good day...my last word on this issue.

My final word as well.

 

[volpri]

Well my carcass woke up early this morning....could have been the Erin debate wearing on me....anyways... Almost time for market open. I best make haste and get that first cup of coffee down my goozle so my brain will be working in 20 min or so.

 

[volpri]

The concepts of trading levels and order flow analysis has been around for years and years and the BAR BY BAR chart patterns DO confirm it (that was for Mickey) ...I hope he is in a better mood today.

What was “novel” about it, at least for me, was her explanation of it. She was approaching order flow from the standpoint of actual executed orders displayed graphically on a chart and correlating that with price levels leading to trading those levels. And her way of doing it is something I had not ever seen. Instead of the usual order flow analysis of the stacked bid/ask on a DOM. Many many games are played there. Some may be legal, others are not. However, actual executed orders...well ...it is what it is..kinda like time/sales data. Her analysis was based upon sales AND buys that DID take place not “potential” monkey orders on a DOM. In other words, she was building her case off “actual” footprints shown by the market and doing so, at least I thought, in a unique way.

EVERY BAR HAS A SENTENCE OR PARAGRAPH IN A STORY EVEN IF YOU CAN’T SEE, UNDERSTAND, OR BELIEVE STORY. SEE YOU MAY BE TAKING THE SENTENCE OUT OF CONTEXT. THE LARGER SCENARIO. THE BIGGER PICTURE. THE WHOLE. BUT THAT PIECE OF THE STORY IS THERE. IT CANNOT BE HIDDEN OR ERASED.

As a matter of fact order flow analysis software which can and usually does involve the DOM often also deconstructs the buy/sells with each bar and details it out into a graphical sort of footprint that ....well is supposed to...help with anticipation of nearby price movement. To the chagrin of many (I suppose because of their concept of noise in the market or SDS) it is easier to anticipate price movement out say 5 or 10 minutes than say a month or 6 months. Ask dozzy. Eventually dozzy will get it right and be vindicated. We are gonna get new ATH’s but do you as a trader really want to go through horrendous draw downs? Uh oh I missed the open. Bye

 

[volpri]

PS
SDS is Scalp Derangement Syndrome. FYI.
A term I made up.

 

[NQurious]

Sorry wrong thread

 

[savoir]

Why complicate basic economics?

Every transaction has a buyer and a seller. Therefore, it is incorrect to say that price goes up because there are more buyers than sellers and goes down because more sellers than buyers.

Price is merely the intersection of demand and supply. If demand is greater than supply, price will increase. If demand is less than supply, price will decrease. If demand and supply are at equilibrium, price will go sideways (over time).

The history of this demand and supply relationship can be displayed on a chart. Take your pick. Price bars of a specific duration are merely the aggregation of demand and supply fluctuations within that duration. That's all. If there is a story there to be told in every bar, it is in your own mind and not the chart.

 

[themickey]

Bars consist of price + time.
Every millisecond it changes.
Depending on the instrument, every second; price and time and actors and stories change.
Which bar is telling the story? The 5 second bar or the 1 minute bar, or the 4.5 minute bar.....?
If you trade a 5 minute bar, does the 5 minute bar have a story? NO!
Because the story at 4.5 minutes is different to 5 minutes because a whole pile of strangers traded and no-one has a clue on their motives.
Every bar is random.
It's only the culmination of bars where you can guess a likely outcome.
This thread has really driven home to me the cultist attitudes which prevail in trading.

 

[Sekiyo]

Much of these historical posts are no longer to be found, but she was a he, mutinicks as well, got banned finally but 'she' posted on ET for many months and sounded very convincing, many ET posters were in love with her, they just weren't aware of the hairy legs and armpits.
I believe Dest was the one who was mostly responsible for the great detective work.

 

[volpri]

Why complicate basic economics?

Every transaction has a buyer and a seller. Therefore, it is incorrect to say that price goes up because there are more buyers than sellers and goes down because more sellers than buyers.

Price is merely the intersection of demand and supply. If demand is greater than supply, price will increase. If demand is less than supply, price will decrease. If demand and supply are at equilibrium, price will go sideways (over time).

The history of this demand and supply relationship can be displayed on a chart. Take your pick. Price bars of a specific duration are merely the aggregation of demand and supply fluctuations within that duration. That's all. If there is a story there to be told in every bar, it is in your own mind and not the chart.

Birds of a feather flock together....