I ask this question
did these past tape reading traders see and understand somthing most here today are missing , and what that might be.?
they certainly understood the power of collective knowledge of futer event. Livermore was probably the most prolific in understanding this.his understanding of the way price gave indications of the participants of whom subconsciously and collectively often knew the events yet to unfold and behaved collectively in a chaotic herd . He was able to read this psychological trait . It’s build into the unfolding price .the way in which that price reads.he was trading the knowledge that something was going to change .
Let’s use a simple example of this
cable was buying throughout yesterday if you were short as an intraday trader there was no way out no reasonable pullbacks just up all day .this was supported by the expectation of cpi today which was forecast to favour selling dollers.
now the pure price traders watching the way price developed and traded would have seen the telltale signs of unstable structure.subconsciously and collectively the participants were right albeit unaware
now it does not really matter wether you believe it’s manipulated or deeper the simple fact is it has tell tale signs printed in front of us
if you take the time to read it as Livermore and co done its advantageous
I traded short before the announcement and scored a 120 pips the price can be read and the more we read it the the better we get
but this is not about me I’m merely stating that basic price structure still has a huge amount of information within it
did these past tape reading traders see and understand somthing most here today are missing , and what that might be.?
they certainly understood the power of collective knowledge of futer event. Livermore was probably the most prolific in understanding this.his understanding of the way price gave indications of the participants of whom subconsciously and collectively often knew the events yet to unfold and behaved collectively in a chaotic herd . He was able to read this psychological trait . It’s build into the unfolding price .the way in which that price reads.he was trading the knowledge that something was going to change .
Let’s use a simple example of this
cable was buying throughout yesterday if you were short as an intraday trader there was no way out no reasonable pullbacks just up all day .this was supported by the expectation of cpi today which was forecast to favour selling dollers.
now the pure price traders watching the way price developed and traded would have seen the telltale signs of unstable structure.subconsciously and collectively the participants were right albeit unaware
now it does not really matter wether you believe it’s manipulated or deeper the simple fact is it has tell tale signs printed in front of us
if you take the time to read it as Livermore and co done its advantageous
I traded short before the announcement and scored a 120 pips the price can be read and the more we read it the the better we get
but this is not about me I’m merely stating that basic price structure still has a huge amount of information within it
Attached Image (click to enlarge)
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