Price Action Intro
Topic: Price Action Intro
You can find out the most important bit of information by examining daily open price.
According to daily open price, you can easily predict the trend direction for the rest of the day (downtrend, uptrend or sideway).
High and Low daily prices for a present day are not much of the help. You can’t know this info before the day is done, but what you can do is to look at the high-low from previous day. This way you can gain additional information about the price.
Since daily open price plays the most important role in technical analysis, thus the future price action, I am going to talk about it the most in the following part of the course.