How about a little game.
Let's see how many can predict where these are going.
Consider you are looking at these as potential setups. Now I know you're restricted to the information that you see on the chart but the real purpose is not to make those big beefy predictions but to learn how immediate action to the left can be used to determine short term targets and trouble areas to manage the trade off of.
What you need to be doing is simply by looking at the bar itself and other available information make an educated guess where you think price is headed straight away, where you think it might find trouble and what your potential trade plan would be based on the market either holding up at your designated trouble areas or blowing past them.
So for example it could go like "This is where I think the trouble areas are (a chart) and I'll be taking x% off at the trouble area A as I think its important, and look to take full profit at B"
DO NOT FEAR GETTING IT WRONG. This getting wrong, will eventually help you learn to get it right when it would really matter.
I will be posting the answers once we have some decent feedback.
PS Don't cheat by scrolling down and taking note of others predictions and thoughts. They don't matter and are not important. What's important and beneficial for you as well as others is your genuine opinion on the two setups.
g.
Let's see how many can predict where these are going.
Consider you are looking at these as potential setups. Now I know you're restricted to the information that you see on the chart but the real purpose is not to make those big beefy predictions but to learn how immediate action to the left can be used to determine short term targets and trouble areas to manage the trade off of.
What you need to be doing is simply by looking at the bar itself and other available information make an educated guess where you think price is headed straight away, where you think it might find trouble and what your potential trade plan would be based on the market either holding up at your designated trouble areas or blowing past them.
So for example it could go like "This is where I think the trouble areas are (a chart) and I'll be taking x% off at the trouble area A as I think its important, and look to take full profit at B"
DO NOT FEAR GETTING IT WRONG. This getting wrong, will eventually help you learn to get it right when it would really matter.
I will be posting the answers once we have some decent feedback.
PS Don't cheat by scrolling down and taking note of others predictions and thoughts. They don't matter and are not important. What's important and beneficial for you as well as others is your genuine opinion on the two setups.
g.
I believe . . .