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A thread on Price action and how to identify stocks showing strong price action.
For me price action is when you answer the What,When,Why,How and Where of price movement of any underlying.
Its a language you use to communicate with the underlying.
Key Parameters thread
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For me price action is when you answer the What,When,Why,How and Where of price movement of any underlying.
Its a language you use to communicate with the underlying.
Key Parameters thread
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Short term price action is judged when the underlying is crossing precious day high or low. Why last day action is important?Because there are enough short term traders who act at these levels,especially if that day had lots of activities showcased by volume and delivery.
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Monthly high, low, close are again important as the stocks are typically evaluated on monthly basis for mid term performance. Operator building large positions will react when market breaches these critical levels.
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