Dbrown101's Training Wheels

This is what Im looking at now. big news coming up so lets see. No trades atm.

Hourly seems to be entering an area of selling interest with a rounding top-like structure.
{ personal information deleted by staff, per request }

15 minute looks like a head and shoulders. The head and the right shoulder are actually double tops so not quite sure if that makes it a non H+S pattern. Either way theres two lower lows with the hourly looking rounded so plenty of bearish signals.{ personal information deleted by staff, per request }

3ks looking like a USD bull push...{ personal information deleted by staff, per request }

Edited: Big Eur bull push north due to FOMC and FFR news. so waiting to see what happens next .

here are the charts from post #141 that I had redacted. I noticed they were not cropped like I had intended. So here they are in order of original posting

Following yesterday evening demonstration and conversation...

Now, it is the turn of the Master of Charting to speak to us.... W.D.Gann.

“FORM READING:
Eighty-five per cent of what any of us learn is from what we see.
It has been well said. "One good picture is worth a thousand words."
That is why FORM READING, or the reading of various formations at different periods of time, is so valuable.
The future is but a repetition of the past.
The same formation at TOPS or BOTTOMS or intermediate points at different times indicates the trend of the market.
Therefore, when you see the same picture or formation in the market the second and third time,
you know what it means and can determine the trend.”

So Patterns Recognition...
Analysis of the terrain conditions we are facing.
Survey of the enemy trenches: Support&Resistance.
Reconnaissance of the Troops deployment and movements on that specific terrain: Supply and Demand.
etcetera.

Hoping to do something useful for those who need to deepen some aspects or reinforce their basic formation,
I propose three links.
They are a good start, absolutely fundamental and foundational... just to immerse yourself in the water of correct study.

Steve Nison on Candlesticks: https://candlecharts.com/candlestick...tick-patterns/

Thomas Bulkowsky, The PatternSite: http://thepatternsite.com

Elliott Wave Theory (Robert Prechter) - https://www.elliottwave.com

Those are the two Patterns in discussion about the above example charts.
Start here.
Learn how to recognize them on your historical data charts...
Learn what to expect in their POSSIBLE Formation/Evolution and how to trade them in each possible phase.
Study in the correct way. Build your Model and your personal Mental Road Map.

You could find The correct Analysis of an H&S Pattern starting from Chapter 6 - Important Reversal Patterns -
of Edwards and Magee - Technical Analysis of Stock Trends.

Take your time. Don't rush anything.
"Time spent in study is money already in the Bank!"
Remember... Market is an artist in variations and improvvisation...
you will find thousands of shade of different colours in those Patterns developing in real time... etcetera.
Study with love.
Immense love for being here: on, in and with the Market.... Remember that Market is always Right, not your opinion!
Bye

Almost everything is OK in the video... (for example the Necklines not always respect the shadows of the candlesticks...!!!!)
More over.... Of course on Forex we have the question of "Volume".
To discuss the possible use of "Tick Volume" I would need a whole thread... but I think it's almost OK!
In any case we can well do also without that fundamental element.
Yes. But use your Stop.
(Yes, again: that's my view of the matter - take it or leave it -... Just do not use the automatic Stop order offered by your platform.)

Here's what Im looking at currently...

descending triangle on EUR/USD


3'ks looking like Its bullish USD

be aware that GBP is in buyers area and JPY is in sellers area on H1.

....look at jpy stuff + eurgbp + aud and in general Ro3K... shows what is going on too


Alex

Complex Head and shoulders formation on the Hourly USD...two left shoulders and at least one right shoulder

scouting for feel....first trade of the new demo account

sell 1.1340 x .01

waiting for possible retrace to load up an attack. if retrace doesnt come i will let scout run. just trying to raise some foreign cap

price is in hourly buyers zone so must be nimble

squared @ 1.1323

something interesting to note....

the above complex head and shoulders had also formed a broadening top/assassin formation as well. both showing bearish implications.

notice the "rule of 5" being played out. broadening tops consist of 5 waves (the first wave being the first corrective move against the preceeding trend)that breach the previous high or low and create a broadening shape.

darn she's runnin' south. both sigma and vega increasing.

Nothing is random in the Market. Nothing.
Each Effect has its own Cause.

Good morning franco! hope you are dancing well...

Very well thanks.
Both on DAX and EU.
If I may, dbrown101... don't force your TrendLines when you draw them: respect the shadows.
Let the candles talk to you.
More often that not we see only what we want to see.

Euro is now testing the Bulls. We'll see what's going to happen next.
This is my H1.

I will! I just drew those hastily. I will be mindful

Murphy...