DislikedBigMike, it seems you have factored in static analysis along with the COG which is what I was trying to do but you are doing it so much better. Yet I wonder how you determined that you shouldn't go short at the red line (~.6260)? Because I couldn't resist the temptation to go short there but later on I reversed my direction due to static analysis. Thank you for the detailed reply by the way. Also it is a long way between .6459 and .6718
rbIgnored
Here are some ideas, but I don't want to go in details, I'm not patient as a teacher.
Check the volume, pivots, sma's and you will get the feel of it.
COG is an active indicator, some bozo's say it repaints. Of course it repaints it's an active indicator adjusting to the last 180 bars !
Don't listen to anybody, do your own observations. Just like me sometimes you will be right, sometimes you will be wrong, but who cares, as long as you cash the market, milk the cow and sponge every penny out of it.
If you feel as a trader that it will drop, go ahead, pull the trigger.
The more you watch charts, the more you will get a feel of price action.
Here is a tip and game that I never give, (just because rb, aser and a few are not morons and respectfull):
- Setup your charts in a correlation pattern in the same row or columns: eur, cable, kiwi, aussie, etc...
- Another row with inverse correlated: swissie, cad, etc
All on same page (screen), I use 3 screens but it works with only one.
Then practice your eyes by looking where the market is going at a glance. Try 30-45 seconds, then 20 sec, 15 sec.... And close it.
If you did not feel the market you either looked at it too long and your brain got mixed signals or you looked at it too briefly to get the picture.
One exception is when it's totally sideway or on short uncorrelated periods (it happens). When that happens, hide the trigger, go watch the paint dry, count the raindrops, whatever and come back later.
This works only on long term TF.
Have fun cause this is such a boring job !
I'll put up one of my calls before facts, starting from scratch in the next few days if I feel like it, if one of the charts "speaks" to me, so you can understand better what the hell I'm talking about !
Yes I'm a "Chart Whisperer" (trademark), you know like the horse whisperer ! Let the trade come to you, don't make it up.
Pip it Up !
BigMike