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Thoughts on relying solely on price action for stock trades
I'm seeing a lot of new blood in here lately, and it seems like everyone's a pure price action guru. Don't get me wrong, I understand the appeal of simplicity and avoiding 'lagging' indicators. But honestly, for anyone looking at something like $ASML bouncing around its daily range (1732.81–1794.47 today), are you really saying a quick glance at the chart tells you everything you need to know for your entries and exits? Or even with something less volatile like $ATOM at 1.403, there's always an underlying narrative. Indicators aren't gospel, but they often confirm or challenge what you think you're seeing in the candles. Ignoring them entirely feels like trading with one eye closed. Change my mind.
1 comments · 3 points
Price action alone is like trying to drive a car by only looking at the speedometer; you might know how fast you're going, but you'll eventually crash without the windshield.