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Have a look at This post and that one, before you go further.
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TEMPORARILY REMOVING THIS FIRST POST
DislikedNice thread WDays, sorry but I have to ask : Is this anyhow related to ICT ?Ignored
DislikedHello. I also use what I learned from ICT's videos in my trading. I used to follow him on Youtube but he is now doing mentoring and not posting any more. Such a shame! It is obvious, from the last post, that some will not be reading the posts or the underlying concepts but will only want some-one to provide signals. I trade the GBP/JPY, EUR/JPY and the USD/JPY as well as the one you mentioned. Regards.Ignored
DislikedLet's see if we can tell anything about these highlighted lows as they relate to prior market action...? {image}Ignored
DislikedBasically we're looking at naked chart trading, but instead of using classic price action patterns, candlestick patterns, inside bars, engulfing patterns and all that crap that works only when it does, we're basing our trades on predictive analysis. Contrary to popular belief, you CAN predict what price will do next. The idea is to show that there are signs of something being conjured up, and things happen for a reason on our charts. It is monday, so I am looking at a daily USDx chart. Let's see if we can tell anything about these highlighted lows...Ignored
Disliked{quote} Its developing a lower lows hence showing a bullish pattern. I also see a flag forming as well. Thats my observationsIgnored
Disliked{quote} I have FXCM's USDollar index on one of my MT4 platforms, they are not my broker, and their candles/prices are different to yours. Mine doesn't show the nice incremental increase in price like your chart does. It is for this reason I also like to look at Tradingview charts or go to Investing.com for their chart.Ignored
Disliked{quote} Yep, good eye. It's making higher lows, which is supposed to be a sign of a bullish trend. But look closer - why did it drop and why did it stop where it did? The answer: magic! {image}Ignored
Disliked{quote} Think of those areas as demand. The reason markets can't just keep going straight in one direction is because they need fuel. I look at things this way: The dollar started the rally roughly from 92.00; moved all the way to 95.95 and lost some of its steam. It then fell until it reached a stack of buyers piled up over at around 93.00 before thrusting up and reaching 97.55. Markets are like a pendulum. They oscillate up and down. There is nothing random here. {image}Ignored
Disliked{quote} To put it in context, while the dollar is rallying, the euro and pound should be declining. Like I said, magic. {image}Ignored