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  #1  
Old 01-08-2018,
agneswe4 agneswe4 is offline
 
Join Date: Apr 2017
Posts: 0
Default Price Action vs Technicals

Hello.

Met someone that supposedly makes great amounts of money largely trading by price action.

Anyway he was kind enough to advise me on his trades last week.

Penny / micro cap stocks that were in play.

The problem was, i was observing this and it made no sense.
He would often trade against the intra-day patterns that were forming.

e.g. A bullish ascending triangle broke down on increasing volume, at which point he bought a lot more.

Another e.g. In another example a stock that was doing *nothing* , no trend, no patterns, just random erratic movements, no consolidation. He bought in, and the next day it gapped up +10%.


(i) Where can i learn how to analyze price/action? Any good books?

(ii) Volume can easily be faked, especially if the trader or syndicate is more than 1 party. How can you find dependable patterns observing the buy ups / sell downs?
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  #2  
Old 01-08-2018,
agrohimian agrohimian is offline
 
Join Date: Jan 2017
Posts: 0
Default

Hello.

Met someone that supposedly makes great amounts of money largely trading by price action.

Anyway he was kind enough to advise me on his trades last week.

Penny / micro cap stocks that were in play.

The problem was, i was observing this and it made no sense.
He would often trade against the intra-day patterns that were forming.

e.g. A bullish ascending triangle broke down on increasing volume, at which point he bought a lot more.

Another e.g. In another example a stock that was doing *nothing* , no trend, no patterns, just random erratic movements, no consolidation. He bought in, and the next day it gapped up +10%.


(i) Where can i learn how to analyze price/action? Any good books?

(ii) Volume can easily be faked, especially if the trader or syndicate is more than 1 party. How can you find dependable patterns observing the buy ups / sell downs?
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  #3  
Old 01-09-2018,
AgustinKasp AgustinKasp is offline
 
Join Date: Dec 2014
Posts: 0
Default

I trade price action but with the computer analyzing it. I consider price action to be a technical indicator. I stay away from trading low volume instruments, I find that the price action is less likely to be a good predictor the lower the volume is. The ES is my instrument of choice.

Cheers
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  #4  
Old 01-10-2018,
Ahjthonyclory Ahjthonyclory is offline
 
Join Date: Apr 2017
Posts: 0
Default

interesting - I meet loads of vendors claiming this as well .....still waiting for the concrete and audited proof though
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  #5  
Old 01-12-2018,
AhmadZhang AhmadZhang is offline
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Join Date: Oct 2017
Posts: 0
Default

To know more about he price action strategy you may refer to the neil's website which throws light on price action strategy. It may be helpful for you.
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