bertuah

Read "Master The Markets" by Tom Williams, "Trades About To Happen" by David Weis, watch Dr. Gary Courses (which is an amalgamation of the books mentioned) that you will learn how read the chart properly then using the HLC bars, volume and structure, there is nothing more to it. Understand the concept of the climactic action which is the main trap people fall for, strength comes in down bars of very high volume (usually bad news in media) and weakness comes in up bars with high volume (usually with good news in media). The springs/upthrusts and shakeouts are traps too, you gotta learn how to identify those. When you jump the gun you get trapped, don't bite the bait. You have to practice and master to pull the trigger at the low volume tests of those high volume bars (which are the anchor points of support and resistance lines) You know that when price touch those levels with low volume, it cannot keep going if in a previous touch it had more volume and bounced, there is no logic. If price breaks you also know it is suspicious, probably a trap, then it reverses closing firm forming a spring or upthrust. This is all chart reading skill, practice.

 

If had to add one more book would be "The Secret Science of Price and Volume" by Tim Ord.

 

Seriously, only after reading those books I finally understood what was going on and was able to read the charts properly.

Logicgate, that was well summarised and easy to understand...Thank you.