Revisiting 'Price Action'

yup - keep it going.

Nothing beats price action. You trade what you see the markets doing and trade with it. All our assumptions and analysis are useless to the market. Price action is the only profitable way to trade. You work with the prices and not against them.

Why do you say momentum is subjective? Can't it be measured precisely since it is the rate of acceleration in price or movement?

It is a well known fact that floor traders gun the stops and laugh about it. However, if any significant move must be made or inniated by "smart money" instead of normal market forces supply/demand..people..etc then the market IS manipulated every day as Taylor claimed it was. He also said the same manipulation is repeated and repeated in cycles. It is discernible. This could lead to "how" to discover the manipulation and capitalize on it. Which is really part and parcel of what you are talking about in the thread, I suppose.

I might add that volume is also a fact. I realize that this thread is about price action but to leave an element out that is also a fact...well..why would we want to do it??? Why wouldn't we consider the volume on which the price was made. We have 5 pieces of info. Open, high, low,close, volume. Any bar. Any time frame. Any day. Why ignore one of them?? Just asking!

But over what period of time? That's why it is subjective.

Can you tell me if volume is accurate at any given period of the day? Or is the EOD volume the only accurate figure (if it is).

Not looking for an argument. I'm, genuinely, interested in whether we can rely on the volume figures given us At present, I'm doubtful. Therefore I do not accept those figures as facts.

Same could be said for price.