Hi guys, so just a follow up of the Friday price analysis discussion.
If anyone wants to fully understand I think its essential to go back to one of the previous series of price analysis sisse shared before. If you need it find his 11,116 post. It was the Dissecting the market, Bar 1: The Forgotten, Bar 2: Two to Tango, Bar 3: Three to Swing, Three to Swing: Waves, Support & Resistance Levels, S&R Zones, and Trendlines (Continuation)
Sisse, by now would you share some more on this series, please? I really took a few hours this weekend to study it well and again discovered some gold stuff it these basic principles.
With those posts in mind just wanna show you my outcome (for potentional criticism as Im not sure if I understand everything well)
Chart 1: this is the mid term range on E/U - it was chop so its hard to analyse but by using the concept of swing high and low (= high defined as a 3 candles with lower high - swing high - lower high X low as higher low - swing low - higher low) I see this.
It nicely shows you that the MT range is formed with !!short term swings and chops!! with multiple highs and lows.
Chart 2: If we go lower = we move to see the leg between last Swing high and low of previous chart (recent MT leg we trading) =) it now forms a well developed MT leg acros the whole MT range - unfinished as we have not moved out of the range to finish it yet.
as u can see it is formed by a one short term leg down with violent pullbacks and now a prolonged ST chop.
Chart 3: now we add supports and resistances as defined by the ST legs.
Chart 4: now we can move oven lower into the ST range
Chart 5: and even lower
Thats it for now im mentally dead after this Im not suggesting anything. Just showing a try how to work with it. May be wrong all the way.
P.S.: its insane how much you can get just from the price itself without any other indicators or anything.
P.S.: I dont know if you can see it but its fascinating how the legs fold into each other and how the S/R are cumulating in similar areas of course like Fib confluences.
Have a great day. Any comments welcomed.
If anyone wants to fully understand I think its essential to go back to one of the previous series of price analysis sisse shared before. If you need it find his 11,116 post. It was the Dissecting the market, Bar 1: The Forgotten, Bar 2: Two to Tango, Bar 3: Three to Swing, Three to Swing: Waves, Support & Resistance Levels, S&R Zones, and Trendlines (Continuation)
Sisse, by now would you share some more on this series, please? I really took a few hours this weekend to study it well and again discovered some gold stuff it these basic principles.
With those posts in mind just wanna show you my outcome (for potentional criticism as Im not sure if I understand everything well)
Chart 1: this is the mid term range on E/U - it was chop so its hard to analyse but by using the concept of swing high and low (= high defined as a 3 candles with lower high - swing high - lower high X low as higher low - swing low - higher low) I see this.
It nicely shows you that the MT range is formed with !!short term swings and chops!! with multiple highs and lows.
Chart 2: If we go lower = we move to see the leg between last Swing high and low of previous chart (recent MT leg we trading) =) it now forms a well developed MT leg acros the whole MT range - unfinished as we have not moved out of the range to finish it yet.
as u can see it is formed by a one short term leg down with violent pullbacks and now a prolonged ST chop.
Chart 3: now we add supports and resistances as defined by the ST legs.
Chart 4: now we can move oven lower into the ST range
Chart 5: and even lower
Thats it for now im mentally dead after this Im not suggesting anything. Just showing a try how to work with it. May be wrong all the way.
P.S.: its insane how much you can get just from the price itself without any other indicators or anything.
P.S.: I dont know if you can see it but its fascinating how the legs fold into each other and how the S/R are cumulating in similar areas of course like Fib confluences.
Have a great day. Any comments welcomed.
5