hi, I always see that people saying that price and volume are the most leading indicators. Can someone please recommend a book to understand the relationship between price and volume. Thanks for any reply.
You don't need to read a book to learn about price and volume. Simply follow this journal, it will take you months and months to digest the contents, during the process you will be frustrated, ready to pull your hair out and somethimes have " aha" moments but eventually things will start clicking. http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=1496 Good luck
With the greatest respect to one of our ET mods, SCT seems to me to be about as far as you can get from the spirit of pure price/volume analysis, and simple is the last word I would use to describe it. Those charts you guys post up look like something out of Heavy Metal Meets The Matrix (I'm thinking of theose blue ones posted in your thread). The terminology alone would take you 6 months to figure out.
Charting the Stock Market: The Wyckoff Method by Jack K. Hutson The first one I've read the second I have not. How I Trade and Invest in Stocks and Bonds by Richard D. Wyckoff
This thread can take you quite a ways. http://www.elitetrader.com/vb/showthread.php?s=&threadid=29005&perpage=40&pagenumber=1
TraderNik, trust me, I felt like that many moons ago, I didn't understand what was going on no matter how hard I tried. To cut my story short one day Lady Luck looked at me and made it possible for me to meet Spyder! Thus my journey began, I met some good folks on the way, they often repeated, "keep doing it" meaning keep drawing channels then slowly I began to understand Hershey language. Now I believe I am fairly fluent. I consider myself lucky to have met so many generous people, who have helped me along.
Stickky Stock Charts, it will teach you basic technical analysis with the most important chart patterns and how to use volume with them. Very easy to use book.
You might also be interested in his book: http://www.trade2win.com/boards/313957-post.html There's also his thread on t2w: http://www.trade2win.com/boards/pri...-volume-support-resistance-demand-supply.html LC