Understanding Price Action: Practical Analysis of the by Bob Volman

By Bob Volman

Realizing expense motion is a needs to learn for either the aspiring dealer who search to acquire a deeper figuring out of what's ordinarily known as "trading from the bare chart". With countless numbers of examples commented on in nice element, Volman convincingly issues out that just a handful of expense motion ideas are chargeable for the majority of fluctuations in any industry session—and that it takes good judgment, even more than mastery, to place those necessities to one's gain within the buying and selling game.

The strength of the publication lies within the remarkable transparency with which the ideas and buying and selling recommendations are positioned forth. along with providing the reader a finished learn on fee motion mechanics, integrated inside of is a chain of six months of consecutive classes of the eur/usd 5-minute. Containing approximately four hundred totally annotated charts, this part on my own harbors a tremendous database of intraday research, now not present in the other buying and selling guide.

Written with a razor-sharp eye for sensible element, but in a hugely absorbable demeanour, knowing fee motion breathes caliber from each web page and is certain to turn into a vintage within the library of any dealer who's thinking about his education.

About the Author
Bob Volman (1961) is an autonomous dealer operating exclusively for his personal account. he's the writer of foreign money cost motion Scalping, a e-book extensively acclaimed by means of lively scalpers for its ingenuity and functional usefulness, and in regular call for considering its first book in 2011. realizing rate motion is his moment quantity on cost technical buying and selling, containing all of the insights and practicalities any dealer may well ever desire to discover inside of a unmarried buying and selling advisor.

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Additional info for Understanding Price Action: Practical Analysis of the 5-minute time frame

Example text

Situation 2 in Figure 2 . 6 nicely demonstrates what exactly it is that we aim to avoid when waiting for buildup. The downtrend a-d is basi­ cally a mirror image of the earlier bull trend in Situation 1 , but this time the pullback reversal played itself out a little differently. Techni- 24 Chapter 2 Price Action Principles-Theory cally seen, the level of b once again presented itself as the most likely candidate for a possible turnaround (a 50/60 percent retracement in an area of former support, now resistance), but an immediate short at point e would have put an aggressive bull in serious trouble before the actual turn set in.

To minimize the disturbance of having to flip back and forth between chart and text, effort has been made to present the charts at the top of the left page (a few exceptions here and there) . What will certainly aid the absorption of discussions below them as well is to spend a few moments to examine each chart example first, so as to already obtain a general idea on the technical topics ahead; this will surely get easier with every new chart that is introduced. Later on in our recap series in Chapter 8, with all the concepts and principles already well ingrained, the discussions will be shortened to fit a two-page format, which will keep the charts in view throughout.

Such can be the self-fulfilling nature of price action. Observation has it that this magnet-and-bounce principle is not just the prerogative of the typical trend/ pullback situation, it is basically present within any seesaw motion in the chart, even within in the tini­ est of technical shapes. This then leaves us to discuss how we can put these mechanics to our benefit in regard to future operating tactics. For this purpose, let's have a look at the technical test's more subtle cousin, the ceiling test.

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