Hello, I am Oleg Alexandrov, Market Analyst. I do market research for private clients, trade on my own account, and provide daily market overviews for the Tradunity.com project.
In this thread, I will share my approach How to Read the Charts as a book.
What is Chart Reading
This is reading the Story of the neverending battle between buyers and sellers. By analyzing price & volume relationship, Chart Reader extracts the latest data of balance between Demand and Supply. Thus, he becomes capable to understand the Current Character of the market. Playing in harmony with the Market Character - this is the way to decrease risk and increase profits.
Warning. The main goal of the Market is to make as many fools as possible. Bernard Baruch.
So:
In this thread, I will share my approach How to Read the Charts as a book.
What is Chart Reading
This is reading the Story of the neverending battle between buyers and sellers. By analyzing price & volume relationship, Chart Reader extracts the latest data of balance between Demand and Supply. Thus, he becomes capable to understand the Current Character of the market. Playing in harmony with the Market Character - this is the way to decrease risk and increase profits.
Warning. The main goal of the Market is to make as many fools as possible. Bernard Baruch.
So:
- when majority expect pump - market dumps
- when majority expect dump - market pumps
If you want to know the real reason for market moves - study who lose the money.
Focus on the Causes, trade Effect. Chart Never Lies.
Thanks for your interest.
Used Acronyms
- ND — No Demand; NDW, or ND-Wave — No Demand Wave
- DB — Demand Bar; DW, or D-wave — Demand Wave
- SB — Supply Bar; SW, or S-wave — Supply Wave
- NS — No Supply; NSW, or NS-wave — No Supply Wave
- SLK — Stop Loss Killer; SLKT — SLK at the Top (bearish sign), SLKB — SLK at the bottom (bullish sign)
- EVR — Effort versus Result; EVRW — EVR wave; EVRT — EVR at the Top, EVRB — EVR at the bottom
- SOS — Sign of Strength
- SOW — Sign of Weakness
- ZOS — Zone of Strength
- ZOW — Zone of Weakness
- SFDB — Support from Demand Bar
- RFSB — Resistance from Supply Bar
- TF - TimeFrame (period)
- Cha Cha - Change in Character