I often read comments posted by traders that say "I don't use indicators, but only price; or, price is the best indicator". What does this mean (candlesticks, volume, tape reading, etc...)? I find, these terms are often used, but rarely explained.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
What does Price Action Mean to you?
- Thread starter kevinmclark
- Start date
Quote from kevinmclark:
I often read comments posted by traders that say "I don't use indicators, but only price; or, price is the best indicator". What does this mean (candlesticks, volume, tape reading, etc...)? I find, these terms are often used, but rarely explained.
Rarely explained ???.
I have seen hundreds of posts here at ET where traders explain something about candlesticks, tape reading, volume, s/r analysis, pivot point analysis et cetera...
I've seen hundreds more with chart examples.
NihabaAshi
Quote from kevinmclark:
I find, these terms are often used, but rarely explained.
then don't use these terms. learn to watch price dynamics with your own eyes and in your own terms. otherwise you will never be able to understand what's going on in the market, even if you'll be an encyclopedia of terms like 'candlesticks' and so on.
look for what you understand and trade that. anything else will only eventually get in your way. you should understand THE MARKET. not TRADERS' TALK. you'll be surprised to find out that these are completely different worlds with very little connection between them, more often than not. in fact it's much easier to understand the market than to understand all the BS that traders are talking about.
Some examples.....
Stocks moving up on strong volume
Stocks consolidating with low vol
Stocks breaking down on strong volume
Relative strength within a sector, or index
Other examples are a sharp pullback within a intraday trend (counter trend move). Look to enter in direction of trend (usuallly you set a tight stop).
These are just a few.
Stocks moving up on strong volume
Stocks consolidating with low vol
Stocks breaking down on strong volume
Relative strength within a sector, or index
Other examples are a sharp pullback within a intraday trend (counter trend move). Look to enter in direction of trend (usuallly you set a tight stop).
These are just a few.
The term âprice actionâ is too vague, to me. When itâs used Iâm not sure exactly what to assume (candlesticks, volume, tape reading, etc.). I searched this board and others for a clear and concise definition to no avail. My intent is not to criticize, but to better understand.
Quote from kevinmclark:
The term âprice actionâ is too vague, to me. When itâs used Iâm not sure exactly what to assume (candlesticks, volume, tape reading, etc.). I searched this board and others for a clear and concise definition to no avail. My intent is not to criticize, but to better understand.
Kevin.....
What do you not understand about the words "price action"? Seems like you're trying very hard to overcomplicate matters here.
Do you understand the concept of support and resistance?
Quote from BSAM:
Kevin.....
What do you not understand about the words "price action"? Seems like you're trying very hard to overcomplicate matters here.
Do you understand the concept of support and resisatance?
What does price action mean to you? I'm beginning to wonder if it can be objectively defined. Is it just relative to the trader?