What is Past Price Action?August 24th, 2021
According to Raffi Sosikian, principal of Pinnacle Quant LLC, Past Price Action can be defined as, “what happened to price in relatively recent history… on particular trading days during particular times”.
In his recent webinar, Use Current and Past Price Action Stats to Place Trades, Sosikian said that it is important to remember to compare alike timeframes. That means you want to compare Monday to Monday, Tuesday to Tuesday etc. According to him, it is a mistake to assume that Monday will trade the same as Tuesday – or any other day.
“If we’re going to study Monday,” he explained, “we’re not going to just look back the last twelve weeks or the last quarter, we’re going to be specific about it. We’re going to be granular.”
In this short clip, Sosikian defines Past Price Action in more detail.
If you are interested in learning more about Price Action, be sure to check out Sosikian’s full webinar. And if you enjoyed this clip, be sure to watch these other market-analysis webinars: Spot Trend Setups with Institutional Price Action Zones with Kris Lassen of Lizard Indicators and Discover a Core Trading Strategy with Paul Bratby of Trade the Fifth!
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