Looking to start a discussion on price action trading.
I am looking for people that only trade on price action, no indicators, no trend lines, no systems, etc. Just purely price action, support and resistance, and volume.
What to do you look for in price action to go long or short? Do you have any rules? or is it all by feel?
To me price action is looking at the bars themselves and volume and then determining market direction based on that.
Here are some of the things that I look at or for,
Long tails, bar range, volatility based on the range of the bars, volume either increasing or decreasing. Is there anything else you look at?
I am not interested in learning about candlesticks, I already know what they are and what they mean, but that is only one part of the story. I don't blindly play candlestick patterns, that is not the kind of price action I am talking about.
Just looking for people that share my kind of technical analysis, so we all can be better traders.
So for example right now on the DOW, I would be looking for larger ranging bars, volatility, or long tails, that quickly got sold off, as an opportunity to go short, right now it hasn't happened, but the volume is declining, and the market is going up, so the buyers are losing steam and the sellers haven't stepped in yet, I am just waiting to see when this market runs out of steam as an opportunity to go short. Also not sure how many people are going to be buying at these levels, we shall see.
I am looking for people that only trade on price action, no indicators, no trend lines, no systems, etc. Just purely price action, support and resistance, and volume.
What to do you look for in price action to go long or short? Do you have any rules? or is it all by feel?
To me price action is looking at the bars themselves and volume and then determining market direction based on that.
Here are some of the things that I look at or for,
Long tails, bar range, volatility based on the range of the bars, volume either increasing or decreasing. Is there anything else you look at?
I am not interested in learning about candlesticks, I already know what they are and what they mean, but that is only one part of the story. I don't blindly play candlestick patterns, that is not the kind of price action I am talking about.
Just looking for people that share my kind of technical analysis, so we all can be better traders.
So for example right now on the DOW, I would be looking for larger ranging bars, volatility, or long tails, that quickly got sold off, as an opportunity to go short, right now it hasn't happened, but the volume is declining, and the market is going up, so the buyers are losing steam and the sellers haven't stepped in yet, I am just waiting to see when this market runs out of steam as an opportunity to go short. Also not sure how many people are going to be buying at these levels, we shall see.
