| Re: learning to read price action with p/f charts 
ok...so everyvbody getting the gist of what i am saying....
next thing,,,is what to look for when you think the trend might be reversing
a chart of the dow.
1 min data plot..we are in an uptrend.price got rejected at resistance.a minor downtrend has formed and we are in a midzone.does the uptrend continue or does the downtrend /minor continue
a tip i learnt from holygrail on elitetrader...wait for consecutive signals.ie another double-top or a triple-top to go long.many times you will see a double-top in a downtrend.we need reliability of the signal/a confirmation
we will see how this one plays out |