-
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?
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
Forum Rules