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What You Should Know About Price Action
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[QUOTE="moonchild, post: 289620, member: 57467"] Price action refers to the movement of a market's price over a period of time. It is a key concept in technical analysis, as it helps traders predict future price movements based on past data. Price action can be analyzed on different time frames, such as daily, hourly, or even minute-by-minute charts. It is often depicted through the use of candlestick charts, which show the opening, closing, high, and low prices for a given period. One of the important elements of price action is support and resistance levels. These are price points where the security has historically struggled to break through, either on the upside or downside. If a security repeatedly hits a resistance level and fails to break through, it may indicate that the security is overbought and may experience a price reversal. Similarly, if a security repeatedly hits a support level and fails to break below it, it may indicate that the security is oversold and may experience a price reversal. Another key element of price action is trend analysis. Traders can use trend lines, moving averages, and other technical indicators to identify the overall direction of a security's price action. A security that is in an uptrend may continue to rise, while a security in a downtrend may continue to fall. Overall, price action analysis is a valuable tool for traders and investors looking to make informed decisions about their securities. By studying past price movements and identifying key technical levels, they can make more informed predictions about future price action. [/QUOTE]
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What You Should Know About Price Action
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