In this segment, Marc Principato, CMT explains how he likes to utilize whole numbers as part of his price action analysis. Whole numbers like 1.3000 and 1.3050 can serve as potential support and resistance levels where trading opportunities can emerge. — Marc Principato, CMT Risk Disclaimer *No Relevant Positions
When The Price Action Changes–Facebook
Facebook had been an great swing short since Tuesday morning when it made a new post IPO low. It continued to make lower highs and lower lows. The definition of a “downtrend”. You were hard pressed to spot two consecutive green bars on the 15 minute chart and the few times that did occur there was very little volume and … Read More
My List: Some Ideas for Finding Tradable Edges
A wrap up to the series on randomness in markets, with some practical trading advice.
Randomness revisited: random levels?
Another look at randomness in markets… this time looking at random S/R levels drawn on real price charts.
Interpreting Price Action: Unveiling Support and Resistance
An important element of price action that can give a trader some insight into the probability of support/resistance holding or failing.
A blast from the past: A note from myself in 2002…
A very simple pattern that is the basis for all price action.
It’s the Price Action Stupid!
Borrowing phraseology from the Ragin Cajun and former advisor to President Clinton, James Carville: it’s the price action stupid! Why is the market going up with unemployment so high, consumer debt outrageous, an environment where taxes must go higher, energy 5xs the norm, housing still depressed, access to credit stunted, expensive war expenditures, the Greece failure, a weak dollar, and … Read More