Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader
Reading Price Charts Bar by Bar will help you become proficient in the practice of reading price action―through the use of trendlines and trend channel lines, prior highs and lows, breakouts and failed breakouts, and other tools―and show you how this approach can improve the overall risk-reward ratio of your trades.
Author’s Introduction:
Reading Price Charts Bar by Bar is a comprehensive guide to understanding price action and is directed toward sophisticated traders and market professionals. However, the concepts are useful to traders at all levels. It uses many of the standard techniques described by Edwards and Magee and many others, but will focus more on individual bars to demonstrate how the information they provide can significantly enhance the risk-reward ratio of trading.
Most books point out three or four trades on a chart, which implies that everything else on the chart is incomprehensible, meaningless, or risky. I believe that there is something to be learned from every tick that takes place during the day and that there are far more great trades on every chart than just the few obvious ones, but to see them, you have to understand price action, and you cannot dismiss any bars as unimportant. I learned from performing thousands of operations through a microscope that some of the most important things can be very small.
Contents:
- Price Actions
- Trendlines and Trend Channels
- Trends
- Pullbacks
- Trading Ranges
- Breakouts
- Magnets
- Trend Reversals
- Minor Reversals: Failures
- Day Trading
- The First Hour
- Detailed Day Trading Examples
- Daily, Weekly, and Monthly Charts
- Options
- Best Trades
