The Equilibrium, a key to success!

How do I increase the probability of winning?



Dear Traders,

If we compare trading with lottery games, there would only be 2 numbers in the lottery game. The number 0 and 1. The probability of winning would be 50%. The higher the probability to win, the lower the profit, because every lottery player would have the same chances. However, trading in the forex market looks a bit different. You press on BUY, the price initially moves up but suddenly the price breaks down and the stop prevents further losses.

Although the trader was right in the beginning, he now goes down with losses from the trade. The same rules of the game apply to all participants in the stock market, but there is a big difference if I'm on the market with $ 1,000 or $ 1,000,000 or $ 1,000,000,000.

In Germany, the most typed number in the lottery is the number 19. Why? Because people like to type their birth numbers and most players were born between 1940 and 1999. Likewise, many numbers between 1 and 31 are typed and fewer numbers from 32. The probability of winning does not affect this, but the win rate in case you win. On April 10, 1999, 40,000 players cheered over five correct numbers and each got $ 200 at the end. At that time it was about the numbers 2, 3, 4, 5, 6, 26. Particularly artistic were the numbers of October 4, 1997: 9, 13, 23, 27, 38, 40. "The crosses on the ticket looked a sign and 134 had six correct numbers.
But the absolute record holds the draw of 23 January 1988. 222 players had the numbers 24, 25, 26 and 30, 31, 32 checked. Of course, the payout was very low.

What can we learn from it?

Well, we can not influence the probability of a win, but the odds if we win. For that we have to type numbers that most people do not type.

The same applies in the forex market. To act differently than most people do. What are the consequences? We need to be guided by successful traders and study their behaviors. What do these successful traders do differently than anyone else? Let's just take a look at their trading screens



Do you see any indicators there, Heikin Ashi or Fibonacci lines? In principle only the pure price chart. Can this work successfully?
MACD, RSI, MA's and all standard indicators should disappear from the screen and pay close attention to the pure price chart. The less distraction there is, the more you can focus on the essentials. The main screen I recommend completely free to draw in your own resistance lines and support lines, which one works out of supply and demand of the market. In addition, I recommend creating your own dashboard. Currency strength, candle strength, trend strength, and the dollar index provide important information and possible projects you are working on.

Now you will say that the big players do not draw any resistance lines and you are absolutely right. But we must not forget an important point, the big players also determine the market. So why should they draw resistance lines if they are the only ones who determine the market.

We small traders do not have these options, so we have to go looking for clues. The big players leave their mark on the market, which can clearly be seen. We must evaluate these traces and use them for our purposes. A successful method for this is supply and demand.



Here is an example in the EURUSD in the 1H chart. I have drawn only a few equilibrium (yellow circle) and then drawn a line. Just look how the course behaves on these lines. Whether this is coincidence or not, derived from this one could have done some nice trades.

I do not know many traders who have geared up their trading strategy only for supply and demand, another reason you may want to consider in the future. I would like to give you 3 quotes in the weekend that are close to my heart.

"Cheap winds can only benefit those who know where they want to go." Oscar Wilde (writer)

"There are more people capitulating than those who fail." Henry Ford (American automaker)

"Be patient, all things are difficult before they become easy." French proverb

I sincerely wish you that you can establish yourself in this tough market.

Best regards

Progonosis 4 months ago and reality



Hello dear traders,


On the 23rd of January 2018 I published in this block (Post 14587) the following post:


https://www.forexfactory.com/showthr...0#post10700600



For many years now I am only following the POC principle.

The key "Equilibrium"

1. The price is determined by supply and demand in each market.
2. Any influence on the price will be returned from the price
3. Before the price moves up or down, a balance between supply and demand creates a balance.
4. If this balance is disturbed, the price moves in the direction of supply or in the direction of demand.
5. The price moves as long as supply or demand until there is a balance again. Then the whole thing starts from the beginning.
Most candles are where there is a balance. We do not want to trade there, when the price is not moving very much. So we have to act when there is no balance.


On 15.01.2015 there was the franc shock


Let's take a look at what happened to the USDCHF.



The price slipped from 1.018 in seconds to 0.855 (1.600 pip). But already after 49 days the course came back into the POC zone. What happened? The price went down about 1,000 pip for the next 50 days.


Let's look at the EURCHF


The price dropped within seconds from 1.20 to 0.97. (2,200 pip)

Attached Image (click to enlarge)

The course has still not made it into the POC zone after 940 days. Now we are nearing a decisive phase. I think we will reach the zone relatively quickly. And then?

Now I recommend you to watch this zone as you enter the course. As it seems, the zone could push down the course and give us some good shorts.



Now let's look at the result 4 months later.




In the daily chart large overview the result looks so far as follows.





In the daily chart small overview, the course is clearer to see, the stop of 16 pip has been a small risk in terms of potential opportunity. So far you could win 270 pip with this information. As I find an interesting chance risk ratio.

How could I know that 4 months ago?
I could not know that, but due to the supply and demand I've been working on for over 10 years, the guess was obvious.
I do not want to express that I was right, but that one should deal with the subject of supply and demand. This information helps every dealer to significantly improve his performance. The principle of supply and demand applies in all currency pairs and can be applied easily.


I wish all dealers a nice weekend and a lot of success

best regards

Hello dear traders,

in short a little update. On May 17, 2018 at 17:00 CET(blue arrows), I posted new zones in the area of supply and demand. Let's look at how the course has evolved within these zones.



You can see that the zones are not always exactly caught, here new zones have to be drawn regularly on the basis of the current price course. But roughly, these zones help with a trade decision.
I wish you a successful week

Best regards

Is that the turnaround?

Hello dear traders,

On the 12th of May I once made an attempt to mark supply and demand zones in the daily chart. I assumed the course was turning at the latest at the lower blue line, as we have a strong demand zone there.



This zone has now been narrowly reached, but there is still the danger that the course could once again plunge into this blue zone.



On May 17th I posted the blue zones. The red zones I have drawn later, because the course changed so regularly. The lower blue line corresponds to the blue line in the daily chart. You can see that the line was touched only a little and the course was then immediately strongly rejected.
The thicker red line was twice as strong resistance, but the course has not been deterred. The next destination is the upper blue line. When this is overcome, and holds as a resistance, nothing stands in the way of a stronger uptrend. Then we are back in the range 1.20 and the next goal could be 1.28.
Let's take a look at the currency strength of the euro and the dollar.



The upper two lines green = Euro and red = Dollar indicate the currency strength including all currency partners.
The lower graph shows the current and more accurate strength of the euro = green and dollar = red. Unfortunately, the zero line is difficult to see here.
In the weekly area, you can see that the dollar is starting to weaken, but no specific euro strength is yet to be seen.



On the daily chart you can see very nicely that both dollar and euro are going down. That speaks a little for an Equilibrium. The euro has already tried to get the curve up, but has failed.



In the 4 hour chart you can see the Equilibrium better. Equilibrium means that the market is insecure. That's a good sign for a possible uptrend. Now buyers have to go into the market to raise the price above 1.20. If this zone is accepted as a resistance zone, we will enjoy a strong uptrend.
Until then I will draw in the smaller time units my zones and adjust regularly. Then it depends on how the course behaves in these zones. From this one can derive possible courses. The time is ripe for a strong uptrend, but unfortunately we have to wait and see when the big players will signal it.

I wish you much success
Best regards

EURCHF

Dear Traders,



As I already wrote 4 months ago I made a forecast in a very volatile sub-currency EURCHF, which has reached 420 pip. There are a few pullbacks, but in my opinion the price will continue to move down. From 1.13 there is again stronger demand, but the currently strongest demand zone is at 1.10.
If the euro should now strengthen again, the CHF would tighten so that the price falls further down. For high risk, this currency pair is quite suitable.

As soon as I have some time I will like to deal with the currency majors. If you have specific wishes, let me know. I will then be happy to locate supply and demand zones and then compare them to your zones.

I wish you a nice evening.

best regards

...Euro/Usd Sir. Bionics, what are your thoughts on that pair lately, the weekly is showing sings of return to the 1.19xx or 1.18, if it bounce on that red ema 100, tell me your thoughts if you please, thanks in advance....

sorry forgot chart.....I mean, I know all indis are uncertain but RSI can go lower, can he?

...Also as a coincidence monthly is also at a green ema 30, so could it bounce here, I duno, ideas welcome...thanks in advance...

...Peter Bain used to call it confluence of events, daily is pretty much oversold, based on MACD and RSI, both irrationals indis, but....sorry to explain my view with my strategy but I still studying yours but have not grasp it well enough to explain this true it, sorry....

Outlook 2018 EURUSD


Hello chonchy, hello dear traders

First of all, thank you for your encouragement and your kind words. I'm delighted that you like the supply and demand strategy and you want to know more about it.
I like to share my experiences and perspective.

Since you have been trading on the stock exchange for more than 10 years, or maybe even longer, besides winnings and losses, you have a decisive advantage over many traders. You have stamina and you are not too bad to take other ways. That's what distinguishes you. I did my first stock market transactions 30 years ago over the phone with my bank. To date, much has become more modern and efficient.

It is not the big ones who eat the little ones, but the slow ones are eaten by the faster ones. The high-frequency traders have noticed this long ago and, with their way of trading, make it hard for the big players in the market.

The entire market has changed enormously as a result of the various dealers that appear in the market. Many years ago I also started to analyze the market with the standard indicators and it has often worked. The MACD and RSI were also a life companion for me, but how many times was the market overbought and still the price went up.

If your competitor drives a 400 HP Ford Mustang, you can not win a race even with the best and fastest racehorse against him.

For many years I have dealt with the big players and analyzed how you do your business. There are no standard indicators and they are not used for trading. The big players know, however, that the small players pay attention to the indicators. Especially here in focus are the Fibonacci lines. These are good entrances for the high frequency traders to stop the small players.

10 years ago, this trend started slowly and I had to think about how I can have a chance in the market to survive in the future. I deleted all indicators from the screen and started over. In the beginning it was hell, because all aids (indicators) had disappeared at once. 5,000 hours later, the first findings came and another 5,000 hours later, the success was there. The road is tough, but it was the only way for me. Sometimes I have the feeling that the big players push the indicators forward to us small traders even better to be able to take the money. They know exactly that many traders hope for a change at the 61 retracement. A good point to stop everyone.

To be successful one should not attract attention and certainly not be predictable. A successful trader must be a perfect tracker to survive in the market.
If you can decipher the tracks of the big players, you know their next steps and can be pulled up or down nicely. You will not notice that as long as the amounts do not go well over $ 1,000,000. Because then you leave even small traces in the market. And the secret is to go undetected. That's why I do not trade with the crowd, but stay where few traders are. Only then will you remain anonymous.

The first step for this: All standard indicators go away and look for clues. I did not get any further with the market analysis, not because it is bad, but because it is not suitable for me. Supply, demand and equilibrium was finally the breakthrough for me. That's why I opened this blog many years later. The Equilibrium also does not always show the right way to a trader and I am also mistaken every now and then. But in more than 50% of the cases, I'm right and with a good Moneymanagement and a very good chance risk ratio, the ball is safe in goal.
Over the years, I've written 3 laws for myself that I've done very well so far.

News

Not the news, but market participants influence the market.
In 2016, Deutsche Bank and many currency experts estimated that the EURUSD would reach 0.95 at the end of 2017. It came completely different.

It is always fun in the evening at NTV (German news channel) to learn why the DAX or EURUSD has risen or fallen. Of course the economy is important in the individual countries, but not for me. For me, how investors respond to the news is far more important.

It does not matter which news is about the ticker. The market is moving because people and computers are pushing the button BUY or SELL. And why are they pressing on BUY or SELL? Because they have an opinion. And this opinion often has nothing to do with the economic data.
Why does Apple share fall even though Apple released a sensational quarterly balance sheet? Well, maybe because investors believe Apple will not be able to make such profits in the next quarter or peak the stock. Anyway, we'll never know.

News causes storms on the stock markets, it often goes up and down. I prefer to wait, because sailing is simply no fun in a strong storm.


Indicators

An indicator does not care if the price goes up or down. It is trailing and less accurate than the price chart. Many traders need security and believe the indicator tells them where the market is going. But the market influences the indicator and not the other way round. That's why I work with auxiliary indicators, which I do not pay much attention to. If I can not trust myself, how should I trust indicators?


Opinion

Since about 97% of all traders are wrong, this means that 97% of all opinions are wrong. That's not bad, because since humans exist, he's wrong. Much more important it would be to set the 3%, whose opinion is correct. But finding them is a challenge. One solution would be to look at what opinion the majority has and then do exactly the opposite. So we should not listen to the crowd, but to ourselves.

Trading is a pure chance game, nobody knows where the journey is going. But with mathematical probability calculation I can beat the coincidence in my favor. The big challenge of trading is not to win, but to behave properly when you are in loss.


Let's come to the specific question of how I see the EURUSD in the future.


At the beginning of 2018 I posted an overview



The estimate for 2018 is bullish to 1.399



The possible price course from my point of view in 2018



The resistance levels in my view in early 2018



So far, these have been forecasts that have so far worked well. In addition I have already posted some contributions.
Let's take a look at the daily chart.



As you can see from the yellow arrow, there was still a strong supply market in this zone, so the price has fallen sharply.
If we switch to the weekly chart, we have a better overview.



In the green line, there was a strong pullback in the week of January 18, 2015. The green line represents a strong resistance zone for me. This zone could signal a change upwards. However, this is always dependent on the market and pure speculation.

I also posted on January 1, 2018, that the price opened at 1.199. He opened at 1.20. I guessed the course runs to 1,249 and then turns. The course even ran to 1.255 and then turned. My estimate was in the lower range at 1.179, the price has even gone up to 1.164. So you can see that you can not always estimate exactly, but about.

As a scalper, this assessment is not quite as crucial as I operate in smaller time units, but a long-term view is always important to the current situation.
What happens next? Now I keep the individual resistance zones in view and now pay more attention to possible buyers. I think there will be a big boost, but the market will be dominated by the big players and they will not buy until the market has served all the sellers. The time could be imminent.

I wish you all a good start and a rewarding exit.

Best regards

Stock market wisdom, are they still valid today?

Attached Image (click to enlarge)

Dear Traders,


In recent decades, the investor market has changed drastically. Laws that were still in force 20 years ago are outdated today.

The stupidest forex market wisdom in the world

 

1. Risk and money management is what boring people, not traders.
2. Always use the full leverage (leverage), because that's what it's made for.
3. Divest profits as fast as you can and run losses.
4. Never look at charts because that's information from the past.
5. The market is your enemy, show him who's the fittest.
6. Double your position after a loss trade to get the lost money back quickly.
7. Always listen to analysts and trade based on their recommendations because they understand the market best.
8. Buy every low / Sell every high because the market keeps coming back.
9. Buy it as soon as the market hits you - every 10 pips.
10. Act according to the motto "As long as a loss is not sold, it is not a loss."

Since the stock market, there are losers, winners and self-proclaimed professionals who could tell you in retrospect why you won or lost now.
Let's not fool ourselves. The stock market is pure gambling and has nothing to do with math or formulas. You can neither calculate the courses in advance nor can you make valid statements about a possible price course.

Prices rise as a larger number of call options outweighs a smaller number of put options (demand dominates supply) and prices fall when a larger number of put options outweighs a lower number of call options (supply dominates demand). Since you can draw as many lines as you want, take all the indicators to the aid, there are only two results in the end. You were right or you were wrong.

It is quite simple: Imagine sitting in a room 100 people you do not know. Everyone has two buttons in front of them Buy and Sell. Now you have to predict if Buy or Sell wins. You decide to buy. The chance that more people hit the buy button is now 50%. If you're right, that does not mean that you're a professional. You were just lucky. Now you have to predict how many people will hit Buy and Sell. You're guessing that 40 people press buy and 60 people sell. The probability that you are right now is now much harder. But exactly this point is crucial. The more people decide to buy, the more the price goes up. If exactly 50 people decide to buy and the other 50 people to sell, then an equilibrium is created.

The stock market is unpredictable, but that's exactly what makes it predictable for some professionals. We can never predict how many buy or sell orders are coming to market, but we can quickly identify equilibrium. And that's our only real chance we have. Equilibrium means uncertainty because the buy orders are roughly equal to the sell orders. It means that there are as many buyers and sellers on the market.

This equilibrium can be a turning point in the market, but need not. Now, if you focus on the equilibrium and analyze it in the market, you know exactly at what time an uncertainty in the market has occurred. This uncertainty occurs in certain price levels again and again and ensures in certain places again and again for a change of course. From this, possible reaction patterns can be derived. This is still no guarantee that you are right or can predict the prices, but it does help to turn the odds in your favor. And 51% (with a chance risk ratio of 1: 1) is enough to earn more than to lose.


You can not be better than the market, the market is always right

No matter what you invest as a small trader, in the long run your own portfolio return will equal the overall market return. An active action can thus bring no advantage. So you do not have to make an effort, trades are what dreamer.
If there are people who are worse than average then there must be people who are better than average. However, the argument often only aims at an upper limit, while nobody seriously doubts that one can be worse. That's why this wisdom may apply to a majority, but not to all traders.


Inside information is worth gold

Suppose you know exactly what information the Fed or ECB will announce next, then it will not do them any good. Why?
If nobody in the market knows at the moment which news the ECB or FED has in their hindquarters, then a market can not react. He only reacts when the "bomb bursts". Until then, the market can react very volatile and unintentionally stop them. And even if the bomb explodes, they still do not know how the market reacts.
That's why I do not necessarily see inside information as an advantage.


Academics are the better traders

The investment is not science, it is a craft. Or have you perhaps observed that academics in particular are good investors? That's not the case. Academics act just as well or badly as people who have not studied. So, if you make that statement, you're either too theoretical about forex, too academic, or simply not aware that there is a gap between general theory and solid practice. Since academics act as well as non-academics, the theoretical advantage seems to be a disadvantage rather than an advantage.


Back and forth bag makes empty

This saying is always used when someone comes up with the idea of introducing a trading approach. The commentators then want to prevent someone from trading already bought currency pairs (from time to time). Because only the passive holding of currency pairs brings in their opinion the highest return. And a trade also costs fees! Back and forth bag is empty "is in the sense of the above opinion just a blanket statement, which testifies to little knowledge about the subject of trading. But even the most fundamentally-positioned investor has to dispose of an investment from time to time. Scalpers in particular only live on being invested in a currency pair for a short time. Of course, if I put on the corrections in a downtrend, this back and forth can quickly lead to significant losses.


"If you have a lot of money, you can speculate; those who have little money must not speculate; If you have no money, you have to speculate. "

If you read this saying somewhere, it is often used in a diffuse trading context. One wants to teach a trading beginner with a small account the fear. He should save even better as long as he has only a few thousand euros. But that is definitely wrong.
Someone who claims this has no idea of the distinction between speculation, trading and investing. Mostly those are beginners who do not think outside the box. They believe trading would be a fundamentally unfluent or even reprehensible endeavor. For a rule-based trader speculation is out of the question. to make money means to make a bet. And you can only bet if you consider your bet as play money or if you have no choice but to take the risk, because there is no money. But if you have to budget, you should not bet. He should act strategically and bring the probabilities to his side instead of putting too much bet on a big but unlikely profit.


Not all eggs in one basket, lack of diversification is dangerous

There are people who believe that it is important to spread their money widely. And they also try to suggest to anyone who does something with stock market. Everything else is really dangerous, it can always lead to a crash!
For years, I have been dealing with the majors primarily with the EURUSD. Secondary currencies leave me outside and also with oil, silver and stocks, I hold myself rather in the background.
Diversification in the EURUSD alone is greater than one would initially assume. Of course, this is primarily the euro and the dollar included, but these currencies are also dependent on other currencies. That alone creates an enormous diversification. For equities, however, that looks different. If you're told it's unprofessional to just handle the majors, let them talk.


Conclusion:

Many stock market quotes have a true core and are helpful in many cases. But the market has changed significantly in recent decades. We must meet these changes by adapting to the circumstances.

Listen to her inner voice and do not let others unsettle you. No matter if you are an academic, a professor, a worker, a merchant or a school dropout. The chances to win more than to lose are 50%. Now it's up to you to find a strategy that will improve your chances.

That was my approach then and with the help of the Equilibrium I was able to improve this opportunity in my favor. Maybe you will find this way, I'll help you with it.

Good luck in the coming week

Best regards

Hello dear traders,



As you can see from the weekly presentation, there is a strong supply market up to the purple line. There is a strong resistance.
Under this line, the strong supply market continues, meaning if the price should break the purple line and accept this line as a dragback pullback that could go further down.

However, first of all, the strong supply market (points 3-5) speaks against it. In the last 3 years, the course has tried again and again over the purple line to come and failed. Only with the points 3, 4, and 5 there was a strong buyers market. That speaks in any case for a strong resistance of the purple line.
At the beginning of the year, I also assumed that the price goes up to 1.179 and then turns again, but if you look at the weekly chart, a lot of things become clear again. That calms me. Learning from this one can just keep track of the monthly and weekly charts. It is also very nice to see how strong the individual weeks went by. Nevertheless, I believe that a strong turnaround could begin. Now we have to pay attention to how strongly the course in the purple line is rejected. There is still room for further downward movement.



Here we recognize very nicely that the dollar comes and falls from above. The real weakness, however, is currently triggered by the euro, as it falls more heavily than the dollar. However, the euro is already in a relatively weak phase. Maybe this situation could change quickly. The euro still has some catching up to do. If the dollar continues to fall, a stronger euro would have a good chance to rebalance. That would bring the price up sharply.
I still believe in a bullish year and see this correction as necessary to mobilize more buyers in the market.

We see it is exciting and at the same time nerve wracking. Many hope for a change, or a stronger correction to at least a willingness of the bulls to recognize.

I wish you much success
Best regards

Pullback or trend reversal

Dear Traders,

In the last 2 days there was some pressure from the bears with 220 Pip and one wonders inevitably if this pressure has led upwards the turnaround.
Actually, the question is wrong, because in the overall trend we are still in an upward trend.
Let's take a closer look at the monthly chart.



It is very easy to see when supply dominated demand and when demand dominated supply. Since 1971, we have had 3 uptrends and 3 downtrends. Now we are in the 4th uptrend since January 2017. Since then the price has gone up 2,300 pip, the current correction is quite normal.
In the middle of the chart image, I have drawn two green lines that once appeared as a support or even resistance.
This line could also act as resistance in the current price case and push the price further up.

So I still believe in the long-term uptrend, but we know that the price is always zigzagging up or down. Likewise, we know that there are different trends within a price history. The different time units are decisive for this. So it is also normal that the price after a rise of 220 pip, is now in a downward phase again. The art is to determine the trend direction in the time units in which we act.

When I act in the hourly chart, the subordinate trend 5 M and the higher-ranking trend D are a decisive factor for me. This information of the different trends helps me in the decision-making process.

The statement that one should always act with the trend thus always depends on the time unit in which one is.
As a Scalper you are rather short-term oriented and happy about every trend change in smaller time units.

This makes it clear that each trader must draw in his time unit individual lines that may mean a turnaround for him.

Equilibrium is an excellent option.

I wish you a nice rest week
best regards

I use CCFp for my daily trading and I find your article very interesting. keep it up Bionics

Which time unit is ideal?

Hello dear traders,

For a long time I searched for my personal time unit, in which I prefer to act. We know the standard time units 1M, 5M, 15M, 30M and so on. Those who were not satisfied with the standard time units had a much larger selection of time units with the Meta Trader 5, but there are still too few brokers who have the MT5 in their program.

So in the end, only the MT4, especially since the supply of support indicators there is significantly larger. As Scalper, the smaller time units have a clear advantage, so I only got M1, M5 and M15. The M1 is too volatile and too inaccurate for me. Since I would like to have a look over 2 days in a time unit, the M1 is out of the question.



With the M5 we have the same problem, the bars are just too small to get an overview over 2 days.



The M15, on the other hand, is too big again, an equilibrium can be identified much more difficult here, which often makes the drawing of the lines impossible.

I was not satisfied with that, so I was looking for an optimal combination. The middle would be the M10, but just this time unit was out of the question for me.


It may sound strange now, but my preferred time unit for trading is the M8 and not the M10.


I would like to show you once the difference between the M8 and the M10. As an example we take the last 2 trading days in the EURUSD.


On the left side you see an M10 and on the right a M8 Chart. Compare the points 1 and the points 2 together.


What is striking?

In the 10 minute chart we see stronger wicks than in the 8 minute chart. Especially the Wicks are often important to identify an Equilibrium. The bigger these Wicks are, the harder it will be to draw resistance lines. Now you might think that this chart image was just a coincidence, so let's take a look at the next day.


Again, you can clearly see that the Wicks in the M8 are significantly smaller than in the M10. If you look again at the M5 chart (slide 1) you will notice something. Curiously, we also have very big Wicks there, although this time unit is clearly smaller than M8 or M10.


Big Wicks are therefore counterproductive to see at a glance if supply dominates demand or demand dominates supply. So you have to find the time unit, which gives you an overview of the price history within seconds. Of course there are bigger wicks in the 8 minute chart as well, but compared to the 5 minutes Wicks they are usually smaller and the overview is much better. With that, I have created a good basis in the 8 minute chart to capture my personal equilibrium in the short-term, which shows me future resistance. To throw this 8 minute chart on your screen, proceed as follows.

You open a chart in the M1. Under Navigator you open the Period Converter under Scripts and enter the number 8 under Period multiplier factor. This means that the 1 minute chart is multiplied by 8. Now go to File: Open Chart offline. Now look for the EURUSD M8 and open this chart. Please note that you must not close your 1 minute chart, so that the 8 minutes offline chart is not interrupted. Of course, you can also insert saved templates into the offline chart.

Equally interesting is the 8-hour chart, which you can create on a H1 chart with the period multiplier factor 8.

Just try it if you can handle it better. The only thing you can lose is time, which is precious, but if you can use it more efficiently, the time spent is worth it.

I wish you a nice weekend
Best regards

Hi Bionics, i have an question about the CDF's .Tthis only go to up or is my impression?

Hello LoganX

Thank you for your support and approval. The CCFp is a very good help indicator for the individual currency strength. Of course, like all indicators, it also trailing, because the price moves first and from this the currency strength is derived. However, if one looks at this indicator in all time units at the same time, one can deduce possible consequences from this. That helps a bit in the decision-making process. I am glad that the ideas help you and I would like to continue to post my experiences.

I wish you a successful trading day

Best regards

Hello palpite,

I hope you are fine and I am looking forward to hearing from you. Thank you for your question, which I would like to answer, but I'm not sure if I understand you correctly?

Tthis only go to or is my impression?

Could you please explain to me exactly what you mean by that?
I wish you a successful trading day and I look forward to hearing from you.

Best regards

Dear Bionics, do you have any info or insights on put and call option and its expiry, how it effect price e.g. on EURUSD. tq

Hello okshop,

look at Trading View, there you have to find everything.

https://www.tradingview.com/symbols/EURUSD/

I hope this helps you.

Best regards