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Hi traders, would like to become a really good at reading charts? If so, then here is a free tip: Take everything off of your charts, remove even the moving averages, and keep on your charts only bars and volume. Forget about divergences, they often fail, and even more importantly, you can get far more accurate warning signs of potential price reversals directly from price and volume itself. To become a good trader, you need to learn to react to what is happening with the price and volume. Keep it simple, and don’t clutter your charts and mind with any indicators. Just price bars and volume, do not even pay any attention to any news (except for upcoming earnings), and you’ll become a better trader.
I used to have hundreds of indicators/oscillators/butterflies/triangles/rays .... until I could hardly see the candlesticks. Now I use a bare chart. A few years ago, no one used indicators (EXCEPT MA) because computers were not invented. Anyway, different people trade differently and they have different things on their charts.
Be nice to the sponsor, we need sponsors to support this site. Those that do not know the obvious will need some indicators as a clutch.
And there are some traders who don't even use a chart. Guess they would say don't even watch PA and volume because it doesn't work. Some should stick to talking about what does work in topics they open, instead of what doesn't work according to them, in other topics.