You were right on when you said you have to come to these conclusions yourself to really free your mind. I feel like its such a simple reason why, but I just can’t see it.
Also, in the waves frequency distribution statistics, you are calculating the ranges of the waves for each TF correct?
Also, last question I swear, did you come up with “impulse wave” and “correction wave” yourself? Or are these theories that I can read about somewhere?
Ok Rel. I think in simple terms. It looks to me like at the close of New York and Open of Sydney (17:00 New York time) if you go long you are almost assured at least a 20 pip profit. So my question is how should you trade this based upon these numbers alone? Stop Loss etc? I am thinking that you would open two positions and when your TP reaches 20 close it out and let the other position run pulling your stop to break even. I am just wondering how to set the initial stop?
Red Candle
Winners wick = top
Losers wick = bottom
Think about as the open line as a ‘battle line’ between ‘bulls’ and ‘bears’
Winners enter early enough (right near the topwick) or just on time (at the open) knowing they will eventually win.
Loser enter foolishly even they are losing (against the body direction) / the battle is ending soon, too late (bottom wick).
Simply amazing Rel. I want to personally Thank You for posting your findings and statistics. I see the market in a different way now. Now my trading has turned around. I hope you never go away, please stick around and help make us better traders. I now feel like I am telling the market what to do instead of it working against me. I still don’t fully grasp your entire system but I have got enough to REALLY TURN MY TRADING AROUND. Thank You Rel. 1000 times over.
i guess from ur statictics one needs to identy the winners wick and diffrentiate it from the loosers wick in a chart how to do that well …let me keep on researching
Can you please post the chart above with the volume spikes in a form so we can have a detailed look by zooming… are the spikes identifying the large volumes that turn the trend ?! I think you mentioned this earlier and I have been using the H4 to trade rather than H1. There seems to be more stable view of the trend here… and given my situation I need not keep monitoring the changes continuously (helps my present lifestyle)…
Relativity, I see something that I have not really seen before. Tell me if I am right or maybe this is temporary. The Eur/Usd is the king of the road in forex. It seems like most of the other pair follow the pattern of this pair several candles later. (any timeframe) I was looking at some other pairs and it seemed like when the eur/usd made a high or low the other pair would follow suit unless they are an opposite correlated pair like usd/chf. It would do the opposite. Any thoughts on this. Trust me, I am open to being wrong, I have thick skin.
