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The Illusion of Price Action Looking at a chart without a defined vocabulary is like reading a novel without knowing the alphabet. You see movement, but you cannot decipher the message. To move beyond basic chart reading, you must adopt the lexicon of institutional players. This vocabulary is not just for show; it is the framework for risk management. Defining Market Structure The first concept to master is market structure. This refers to the directional bias of the market. You must identify if the market is in an uptrend defined by higher highs and higher lows or a downtrend defined...