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I frequently hear people talk about the importance of reading price action or reading tape. But I never see any specifics about how to learn this method. Any suggestions other than "time and experience"? |
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Wow old thread having said that an interesting one. To me reading PA and the tape are kind of different things, though related. To me PA is about
how price moves. Higher highs/lows, ledges, ranges etc. I think in the past I have posted a whole bunch of references. But a couple of quick (free) ones of the top of my head...check out Joe Ross' law of charts and The first couple of Fibonacci trader journal entries about Gann swing chartist. 'Buffy' did an article for Ensign Software too.
Theres a whole bunch of stuff by market 'old timers' (like Dunnigan for example) that are of value and 'grandfathered' this stuff.
If you want to learn about the 'tape' (which rolls volume into the mix) then as DB says Whycoff is the guy to start with. To be honest I would start with 'plain' PA as its somewhat more straightforward.
Cheers