Quote from NoDoji:
Five people interpreting a chart differently doesn't invalidate technical price action trading. Each trader may have different objectives. For example, among day traders, a micro-scalper has a different objective than a price swing scalper (who may trade both directions even in certain types of trending patterns), who has a different objective than an intraday trend-follower who scalps price swings only in the direction of a trending move, who has a different objective than an intraday trend follower who holds through retraces (and possibly adds to a profitable position during retraces), who has a different objective than a counter-trend scalper who only trades contrary to a strong directional price move.
So here are five traders who may all use an analysis of technical setups (price and/or indicator patterns on a chart) to enter into trades that each believes has a higher probability of reaching profit A before hitting stop loss B, based on extensive research of their chosen trade setups (technical patterns).
Here is an intraday candle chart with time and price removed. I invite any technical price action traders who see a potential trade setup at the hard right edge to let us know what would have to happen next to trigger a trade entry, the direction of the trade (long/short), the level at which the odds of success would diminish enough to exit (stop loss level), and the minimum level at which a profit will taken (and why, if you want to share that).
Since there are no price levels, you can assign any price to your entry and assume each grid line marks a 5-unit move (5 ticks).
Quote from marketsurfer:
Yes, price doesn't drive price as TA folks apparently believe. Price drivers drive price. Dats a fact jack.