I keep on getting good quotes from Rick (@tweeterTrades) so I don’t have to dig into my reserves ;-):
“Price is the only truth in the market, anything else is a lie, a damn lie or statistic.”
I am sure this will be another good one for discussion and to a certain extent, I have to agree.
I really believe that most traders would improve their performance by taking a lot (if not all) of the indicators they have on their charts off and focusing on price action and support/resistance. Please note that I wrote ‘have on their charts’ and not ‘use’ …
3 thoughts on “Thought of the Day…”
Support and Resistance are great places to take your profits They Give you the pathway of least resistance Towards ones target , as for indicators well Most of them Do the same thing and are based on an average of what price is Doing so Price really is King .
Exactly, all you need is price and the support/resistance are just reminding you of previous intense price-action fighting zones > price, price, price!