Thank you fxgroup !
Here is a EURGBP WEEKLY chart, which we studied under your guidance some time ago, with the clear box RM structure. I thought it might be quite educative for the people studying your method, as it shows how important it is to wait for confirmation once a breakout out of a RM / Box happens.
We can see how there was a breakout down, then a bullish candle ( probably taking out all the stops of the early sellers ). Now it seems to resume its downward course, but yet again I want to wait for a weekly close.
One question : you use the ThinkorSwim charts from TDAmeritrade, would you recommend them as a demo application ( which is free I think ), or do you use the real account in order to get realtime data ?
Just asking, because it can be quite expensive for most people, if they have to signup for esignal, Metastock etc. and all the rest of the overpriced datafeeds.
Any suggestion welcome - it might be useful, as I have quite a lot of friends who are just starting out and on a low budget, or students etc.
Best wishes to all !
Mike
Here is a EURGBP WEEKLY chart, which we studied under your guidance some time ago, with the clear box RM structure. I thought it might be quite educative for the people studying your method, as it shows how important it is to wait for confirmation once a breakout out of a RM / Box happens.
We can see how there was a breakout down, then a bullish candle ( probably taking out all the stops of the early sellers ). Now it seems to resume its downward course, but yet again I want to wait for a weekly close.
One question : you use the ThinkorSwim charts from TDAmeritrade, would you recommend them as a demo application ( which is free I think ), or do you use the real account in order to get realtime data ?
Just asking, because it can be quite expensive for most people, if they have to signup for esignal, Metastock etc. and all the rest of the overpriced datafeeds.
Any suggestion welcome - it might be useful, as I have quite a lot of friends who are just starting out and on a low budget, or students etc.
Best wishes to all !
Mike
Be like water.