It seems like you are right on point.
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What does Price Action Mean to you?
- Thread starter kevinmclark
- Start date
It seems like you are right on point.
Quote from kevinmclark:
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?
If you're interested in trading profitably, then price action isn't merely relative to the trader. Hint: Some entries are way better than others. Of course, timeframe can be a factor, also. But, I don't want to stray too far away and cause more confusion for you.
Again, do you believe that you understand the concept of support and resistance?
Quote from BSAM:
If you're interested in trading profitably, then price action isn't merely relative to the trader. Hint: Some entries are way better than others. Of course, timeframe can be a factor, also. But, I don't want to stray too far away and cause more confusion for you.
Again, do you believe that you understand the concept of support and resistance?
Yes, I believe I do.
Quote from kevinmclark:
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?
No, price is the only absolute in the market. All indicators depends on the number of price points input into the equation.
Volume is almost a completely ramdom entity.
Regards
Oddi
Quote from kevinmclark:
Yes, I believe I do.
Okay.....When you believe you know the location of S/R (and there are many who think they do, but they really don't.....but that's another story), watch very carefully what price does. For example, does it hesitate or does it fall right thru? This is one example of what is meant by "price action". Price action serves to give traders an idea what may happen to the security you are monitoring.
Hope this helps a bit.
Watch for wide range bars vs narrow range bars (ease of movement vs lack of movement). Watch interaction of price w/trendlines, channel lines, support/resistance. Watch for follow-thru or failure to follow-thru on breakouts and breakdowns. Watch for upthrusts and shakeouts. Note the position of the close w/in the range of the price bar - at the high, the low, mid-point? Watch for tests of "vertical" areas where trends accelerated.
H
H
Quote from hcour:
Watch for wide range bars vs narrow range bars (ease of movement vs lack of movement). Watch interaction of price w/trendlines, channel lines, support/resistance. Watch for follow-thru or failure to follow-thru on breakouts and breakdowns. Watch for upthrusts and shakeouts. Note the position of the close w/in the range of the price bar - at the high, the low, mid-point? Watch for tests of "vertical" areas where trends accelerated.
H
Hold up hcour. Don't give it all away. ;-)
Quote from BSAM:
Okay.....When you believe you know the location of S/R (and there are many who think they do, but they really don't.....but that's another story), watch very carefully what price does. For example, does it hesitate or does it fall right thru? This is one example of what is meant by "price action". Price action serves to give traders an idea what may happen to the security you are monitoring.
Hope this helps a bit.
Itâs the best definition Iâve heard to date. Thanks!
Quote from hcour:
Watch for wide range bars vs narrow range bars (ease of movement vs lack of movement). Watch interaction of price w/trendlines, channel lines, support/resistance. Watch for follow-thru or failure to follow-thru on breakouts and breakdowns. Watch for upthrusts and shakeouts. Note the position of the close w/in the range of the price bar - at the high, the low, mid-point? Watch for tests of "vertical" areas where trends accelerated.
H
Now we're getting somewhere. Thanks!