Just two things.
If anyone is wondering why i didn't talked about indicators, it's very simple...
Who have studied lagging indicators, who understood them, how they work, what their results mean... Do not need them after a while.
I'm not trying to sound like a wise guy but believe me, anyone who can't look at a chart and understand what the MAs are telling or even worst, who can't look at a MACD and understand what does a divergence looks like in the candles, simply will never suceed just by trusting on indicators.
A divergence for example, is simply extensions in the price getting smaller.
Price retrace... price extends/rise 100 pips... Price retrace... Price extends/rise 60 pips... price retrace... price extends/rise 40 pips.
Price is rising in a whole, but the macd peaks(extensions tops) are getting smaller.
Still rising, less strengh in every rise. Thats divergence.. how hard is that to understand without looking at macd?
Regarding top interpretations, i still think that many ppl are still confused on this point.
Yes.. there are a few tops right now, and the probability is that the price might retrace. But what im trying to say is that, i only see hourly tops... not major h4 tops. Hourly tops end up in retraces(that we usualy wait to buy). Four Hour Chart tops end up in corrections (that we short). Big diference. If we look at this amazing rally, even with all of the strenght we saw, we can spot spikes acting as hourly tops and nothing big happened.
So, until i see the price droping at least 50 pips from the previous top without getting back immediately..
..In that moment i will call it another top. I will not call it because it looks like it will be.
Anyway.. the thread is not about knowing if there is a correction coming this week. Is about knowing what to do if it really start. I think i made my point.
Thanks.
If anyone is wondering why i didn't talked about indicators, it's very simple...
Who have studied lagging indicators, who understood them, how they work, what their results mean... Do not need them after a while.
I'm not trying to sound like a wise guy but believe me, anyone who can't look at a chart and understand what the MAs are telling or even worst, who can't look at a MACD and understand what does a divergence looks like in the candles, simply will never suceed just by trusting on indicators.
A divergence for example, is simply extensions in the price getting smaller.
Price retrace... price extends/rise 100 pips... Price retrace... Price extends/rise 60 pips... price retrace... price extends/rise 40 pips.
Price is rising in a whole, but the macd peaks(extensions tops) are getting smaller.
Still rising, less strengh in every rise. Thats divergence.. how hard is that to understand without looking at macd?
Regarding top interpretations, i still think that many ppl are still confused on this point.
Yes.. there are a few tops right now, and the probability is that the price might retrace. But what im trying to say is that, i only see hourly tops... not major h4 tops. Hourly tops end up in retraces(that we usualy wait to buy). Four Hour Chart tops end up in corrections (that we short). Big diference. If we look at this amazing rally, even with all of the strenght we saw, we can spot spikes acting as hourly tops and nothing big happened.
So, until i see the price droping at least 50 pips from the previous top without getting back immediately..
..In that moment i will call it another top. I will not call it because it looks like it will be.
Anyway.. the thread is not about knowing if there is a correction coming this week. Is about knowing what to do if it really start. I think i made my point.
Thanks.