In trading or even investing, understanding price movement can be very beneficial. It can give you that added edge you need to be on the right side of the trade most of the time.
"Price is king", many traders proclaim and they are right. All indicators, and averages are derived from price. So these indicators and averages lag price. There are folks out there who do not use indicators at all. Price is the only instrument they use to make trading decisions.
If price only gels with your thinking process and character then go for it. Study about it as much. Some folks still need indicators but even if you use indicators some understanding of price movement or behaviour can help.
Studying price movement doesn't have to be a complicated task. It can be very simple. Study price patterns (reversal and continuation), support and resistance techniques, major candle stick patterns like long tails, dojis, inside and outside patterns, etc.. Elliot waves (OK, this one is on the advanced side), Fibonacci, and basic trend line analysis.
There is an interesting article on FXSTREET.com by Mike Baghdady, an Online Trading Academy instructor, on "The Study of Price Behavior". No one can predict price movement he said but you can have expectations of price movement. You can expect price to go up, go down, or go sideways. It's a good read.
"The Study of Price Behavior"
TradingMarkets had an article on "Combining Price and Volume to Predict Price Movement"
Here is a site that has a video, to download (swf format), on Swing Trading. In it the speaker talks about price cycles and understanding them.
http://forum.equis.com/forums/thread/13770.aspx
Happy Trading
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