Surfers understand the mechanics of every wave. So yes to be a good surfer you need a trained mind to spot small changes in the behavior of the wave
I dont know why everyone keeps giving exactly opposite of what im asking I just want to know how do you break down the chart movement whwn you look at a chart. You cant tell me that you look at a chart and magically buy and sell based on your feelings or based on some lines alone without understanding the mechanics of the chart movement Its not a difficult question. Yall overthinking the answers
Backwards. You should change your nic to why9003 Every topic you start with .... why, why, why and end with .... no that is not it, you are all wrong.
Not before doing a proper amount of stats, holmes. May as well be specific. Here's a link to a chart that was posted on et earlier. https://www.tradingsetupsreview.com/3-useful-tips-intraday-price-action-trading/ It presents a hypothesis that you could test and find out whether in YOUR hands, based on YOUR stats, there is enough evidence of edge to warrent figuring out whether you have the chops to trade it to a profitable month. The better question might be "Can YOU, 9003, look at a chart and buy and sell based on ... understanding the mechanics of the chart movement."
Do a zigzag drill and map out swing points on 3 TF’s. Observe how, faster TF’s reach for the swing points in the higher slower timeframes. That will get you started.
Price obviously go up because there are more buyers than sellers. Conversely, price drops when there are more sellers than buyers. It's that simple. But you ask why is that so? It's due to perception. Some people think the market will go up due to some fundamental reasons (eg. better than expected earnings) while some might trade based on technical reasons (eg. oversold). Now, just as it's up to the surfer to "train his mind to spot small changes in the behavior of the wave", it's up to you, as a trader, to discover the subtle nuances of price action. And that takes a long time. Unfortunately, some traders never find out. Unlike surfers you've mentioned above, however, traders don't easily reveal their edge for obvious reasons. But they do give away in piecemeal fashion here and there. So it's your job to piece them together.
You don't know much of anything, trading related, yet somehow you think you know someone's reply is wrong. Knowing ... why *everything* is not the path to trading successfully. Knowing probabilities is.
An Excerpt from Trading the Measured Move: A Path to Trading Success in a World of Algos and High Frequency Trading (2014) The legendary Jesse Livermore (1877–1940)—the one they called “The Boy Plunger” for the fortunes he made shorting the markets before they crashed in 1907 and 1929—was notorious for his tape-reading skills. But years before he had his own ticker-tape machine in his New York trading office, Livermore had learned to follow price action by keeping the flow of numbers in his head. Edwin Lefevre’s book Reminiscences of a Stock Operator (John Wiley & Sons, 1922) tells the story of Livermore’s life from his earliest days as a 14 year-old quotation-board boy at the Paine Webber brokerage in Boston. Young Jesse’s job was to listen for customers to call out prices spit out by the ticker and to write them on a big chalkboard for all to see. He said, “(The prices) couldn’t come too fast for me. I have always remembered figures. No trouble at all.” He went on: Those quotations did not represent prices of stocks to me, so many dollars per share. They were numbers. Of course, they meant something. They were always changing. It was all I had to be interested in the changes. Why did they change? I didn’t know. I didn’t care. I didn’t think about that. I simply saw that they changed. That was all I had to think about five hours every day and two on Saturdays: that they were always changing. (Emphasis added) Spoken like the supreme technical trader that he was, Livermore didn’t think about the reasons for price action, only about the price action itself.