DislikedIt's interesting how even though our methods differ, we tend to come to the same conclusions about price movement. Even some areas of support and resistance. You monitor GU and UJ like I do. And you seem to have a very pivot oriented approach, which I might be starting to catch on to . . .Ignored
Yes, we seem to always be on the same page with our analysis. . .
I follow your analysis and many other senior members on this thread such as Karmo, Aus, Zoran, Gene22 M2B and others and really have learned a great deal from all of you. . .
I mostly use monthly, weekly, daily and 4hr charts to guide me where price is going. . . Once I establish that then I monitor lower time frames and use 1hr, 4hr and daily pivots method for a good place to enter/exit.
If going long I wait for a retrace to lower price, if going short I wait for prices to hit R1, R2 and somethime R3 for entry. . .
Now, UJ and GU tells me potentially how far we could go up or down depending on how weak or strong each are. . .
If UJ and GU are weak GJ could hit lower resistance levels if going short and vise versa if going long
If UJ and GU are going in opposite directions then GJ is limited to the downside and may bounce off a 1hr/4hr S or R level oppose to a major daily level like today.
I use the below to monitor pivot points throughout the day. It also gives you a visual where price has been and could be headed. What I've notice is that it always comes back to these levels shown no matter how strong the momentum.
http://www.actionforex.com/forex_ana..._200603215764/