NITRO Scalping for serious traders 863 replies
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Reading......and reading....... 21 replies
DislikedDo you see 235.50 coming before the Asian open?
Thanks, Still trying to learn.Ignored
DislikedMomentum is a leading indicator, I use it and it works like a charm when you combine it with everything else.
235.50 will come soon.. go get dinner and have no worries chick.Ignored
DislikedOh contrar! Any indicator that needs past price to calculate its present by definition is a lagging indicator. This includes stochastics, macd, rsi, cci, momentum, moving averages, et al.Ignored
DislikedThe way I read it, I can tell where price might go, anyways I'll keep my crystal ball to myselfIgnored
Dislikedkarmostaji, I
am not trying to be argumentative, just stating that the momentum indicator is in the class of lagging indicators. If you can use it to trade, good for you. With the crack down my the NFA, if you ever desire to manage accounts for others or to offer any services, such a statement that "momentum is a leading indicator" would be seen as a cause for censure.
While I was working as a broker, a fellow in my office did something of this sort with a client. The client complained to the governing bodies and the broker lost his right to advise for six months. This was in the early 1980's with much more lax rules enforcement.
It may seem a technical point, which it is, but caution in the precision of language when speaking of such things is prudent.Ignored
DislikedI would love to learn more about the Time price points. Can you point me in the right direction with a website or something?It seems very interresting.Ignored
DislikedPipChick,
There is a website by forexfactory's own Akuma99 that would be a good start to the study of time. Because of forum rules, it may be best to private message me for that information.
While most traders study price action or indicators as a basis for their trading decisions, some have ventured into the study of the other axis: time. Gann as been oft quoted, "when time is up, change is inevitable." For example, you pull your fib retrace tool on a particular significant high and low. You are given area of price s/r. But, will a currency go to the .382 and continue on its merry way, or will it retrace to the .50, how about the .618, maybe the .764 or how 'bout 1.00 or 1.27?
If you have a grasp of "time for change" the above levels become much clearer. Few master the trading of time because it is not something readily accessible. No one, that I know of, who has studied it extensively writes because it is costly to gain that knowledge. Many claim to have the knowledge, but it is easy to figure out those that do and those that don't. I have not taken away for any book an understanding of the subject and I have read thousands of them.
Gann had such knowledge, but he did not give it away. By studying that which is available you can begin to put the pieces of the puzzle together. Ultimately, you will spend time chasing many rabbits down into their holes (some of those holes are really deep), but you will end up choosing a technique from here and there to create your own. When the time is right, you will be able to trade time.Ignored
DislikedHere is a continuation of what I've been seeing on the charts which has worked out absolutely perfectly so far
I'm expecting G/J to rise to the top upward moving yellow line, but we may see an attempt at the 2 closest lines to the downside. I doubt there will be a break of those lines so I'll wait for a bounce off of those areas and if there is a confirmed break of those two lines then 231 is my next target (third line to the downside). Otherwise I'm seeing a stronger upside bias pointing towards 236Ignored