well. it depends if he has initiative or not
if he’s willing to put in effort and pump a few ideas and experiment , he should notice a small improvement in his trading and less losses say out of every 30 trades
i think (Based on gut feeling and what i’ve read so far) yeah… i reckon he probably will get something positive out of this and improve to a degree
but as i asked him that question, after i said, i’m not going to spoon feed him, i’m interested to see if he figures it out. now… i’m not going to tell him, i want HIM TO WORK IT OUT, but if he doesn’t , it’s not really a biggie, because intially he needs to learn to be safe, and i think this will educate him on that to a degree and make him understand that he was upside down and that’s why he loses at times
yeah, i think he’ll get something out it and i think i’d like to check back in a week and then a fortnight to see his thoughts and progression on the subject
but i think he’ll do something with this, that’s my gut feeling.
and also thank you for letting that one out of the bag HEHE
i was purposely putting emphasis on the weekly and trying to trap him into focussing on weekly to see if he would be smart enough to look on monthly
so yeah, basically super high resistance on monthly
Exactly
and they need to learn that
and they need to learn what to do in those WHO KNOWS Times
i would say they would go Short in anticipation of a rally up , but , that’s a guess and i usually don’t like to do that,
also i really trade more US2000 and EUR AUD than i do EUR USD, but i do dabble in EURUSD if i see opportunity
LOL Roadkill bat
yeah… and then he can test those cheat sheets and see how far that gets him… right
I agree with that - Publishing your trades and logic ahead of time is a great way of creating a lasting journal.
Also @Hikaros, There are a zillion ways of trading and “Patterns” are one of them, which some use to good effect.
If geometry is your thing, try looking up “Sacred geometry” - That as I remember from 15 years or so ago had some quite impressive results.
There was also a book called PAttern price and time which came out 15-20 years ago, which was quite good - but I can’t find it on Amazon. There is one there, but it’s not the one I mean and the one star review seems to be from someone who DOES know his “Gann” - I’ll diig it out of my “library” and give you the author later.
[Edit - sorry it WAS by the same author, just the earlier version with the blurred “clock” on the cover - I just had a flip through it and it Does talk about “Squares” - Whether it is quite suited to your wants tho’ I’m not sure, but if you can get it cheap, it may help some. ]
my BB’s are telling me this is A POP to the high side
My HA’s are telling me there is no sign of slowing down just yet
but we have not exceed that Downtrend line yet… BUT IF WE DO i expect to see it go to around 1.3957
then perhaps a retracement to this level again
it broke the upper trend line. so now My H.A.s are telling me that there is a pull back,
i’d be waiting until they slow down and also i would want to see if it breaks the lower trend line, although i doubt it
one could be gutzy and rack in around 40-50 pips if they short it from here
although i wouldn’t recommend a sell at this point
my feeling is , it hasn’t popped through the top of the box, but it has reached the top and has turned around
now,it’ll be interesting to see where it opens at on monday, but i think the overall direction is headed up.
My HA’s on the H4 are giving strong indication that it’s going down now, so sell possibility
i would personally be waiting for it to break the bottom trend line and then enter below the blue line and i would BUY and rid it up to the mid line or between the mid line and the blue line and rinse and repeat hehe
i don’t think it’ll go as low as to break the bottom trend line though, but i do think it’s going up and this is just pull back on the short term.
that’s my 6am Assessment of it ok
now i need some sleep
Thank you guys for your time.
You really opened my mind.
I would never have seen the Monthly resistance there. I used to look max to D1.
Lesson learnt! ALWAYS check ALL timeframes.
Really useful material Martin.
I will read again and again to make sure I get everything!
Thanks!
I bought EUR/USD at 1.23800 and just closed it at 1.2450.
I was waiting for it to go 1.24200 but US market is closed today so there is no movement at all.
25 pips not bad.
From my recent experience, some news do not affect the overall trend.
There are some economic events that change support and resistance areas on the higher timeframe which I consider. At the moment, the markets are in low volatility and most likely the next big mover is the GBP average earning index which will change support and resistance levels on the higher timeframe such as the day chart. I use this situation to consider my new market trend to create myself a high probability trade and keep me focused on the overall trend.
Combination of fundamental and technical analysis is the only way to trade!
EUR/USD went below 1.23000 because of the FOMC meetings, paying no respect to S/R, trendlines or any other technical analysis.
Then, price went up with respect to the H4 trendline, continuing it’s bullish trend!
