Many people accustomed with "modern" indicators just ignore what market's action means. So here's a good ressource http://www.enthios.com/Primer-tloc.htm Joe Ross' "Law of Charts" is one of the best summaries of basic price action that I have come across. It takes every possible type or price movement and defines it in terms of the lowest common denominator. Great for understanding what the market is really made up of. This is courtesy of www.TradingEducators.com . Adobe Acrobat version here: http://www.tradingeducators.com/trading_philosophy/tloc.pdf