Disliked{quote} @Merka -- thanks for your comments. However, I really don't understand why you @acetrader choose to use terminology that is unfamiliar to anyone who hasn't sat in a session with @George. I mean, @moodybot refers to looking for "unbroken levels" -- and then everyone understands what that means. What does "a lot of lines accumulated close to each other" have to do with "overstretched" or "unbalanced" or "pressure zones"? We understand the lines represent TOPS and BOTTOMS (i.e. Stop Losses) that haven't been taken-out. The current Ask/Bid price...Ignored
Keep in mind George was not looking at a level, not exactly as a standard trader would look at them. He drew levels yes, but what was the real reason for the level to be drawn. It was to show where the MM was attempting to convince everyone else where “support/resistance had a occurred. Hence it requires multiple visits, pseudo confirmation...A safe area of stops, fixed and trailing. They can’t just blitz straight through, that would give the game away, so they have to show a move opposite to the intended area of deceit...in doing so they create an area of further stops (cash deposit) ready for collection at a later date. All a psychological deceit.
In discussion with George earlier, take a look at Nihs picture of levels, HH’s and LL’s and the pitchfork...look at the pitchfork! With just about any indicator the MM can make the algo look easily beatable but what happens in reality, traders lose. The
psychological misinterpretation is astronomical in this game.
So to beat the game, we have to see the MM’s hand, that comes from a move to take out the stops, we have to see the move first otherwise it’s just a guess. George’s analysis has shown that for him the best way he could find to do that was to see a break of close together levels, a group of near misses, followed by confirmation of the TMA on a 1 min chart. Current range of the day, which session are we trading in, all comes into the analysis.
Are there other ways to trade profitably, no doubt, have I seen that in 10 years on Forex Factory to the same degree of accuracy, no.
Concentrate on finding the psychological areas, the rest will click.
George says its 98% psychological, I would disagree, it’s 99%.
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