The Bucking Bronco

Maybe I'm right... wait a minute!

Sold 918 the Hanging Man on m1...

Really unfair. Bulls are furious!

They want my stop.

Stop hit. Ciao. CU.

Be careful.

@8750 now.
I came back for a quick control of the charts and... she went down.
So I was right!
Great personal satisfaction.

If you study the life of the great Traders you will discover something that we can define as "Extreme Dedication."
Endless hours of meditation and concentration on pure charts trying to understand specific relationships and specific behaviours.
Gann, Livermore, Wyckoff, Schabacker have left us valuable lessons on how to relate to our charts.
Gann's autographed charts are an example of what I mean: god is in the details.

It is Saturday, the morning of another Coronavirus Day,
the sun has not yet come up and I am here studying my yesterday's charts and notes.
I examine every detail of the different fights and skirmishes: a day of war in fact contains several different battles between the two sides.
I review the levels, I see my mistakes and my reasons.
Where I went wrong I try to understand why.
Where I was right, I review and strengthen the applied Rule.
And I write. And write... comments, ideas, thoughts.

Study and Total Application are the key to success.
No pain no gain.
Ten years of (correct) work and things will become clear! ROFL.
Then the problem that remains will be only about Focus&Discipline.

No... @8750 I didn't enter the Market.
I just shook my head and smiled.
And I started writing my comments on the action!
Question of style and priorities.

There’s no ‘special’ information you need in order to start using Key Levels in your trading.
The charts are all a trader needs: they operate as a window into the psychology of the big players.

Pattern recognition
Support and Resistance
Fibonacci levels
The professional’s main asset is experience in interpreting where Key Levels lie.

(To the hell averaging down, hedging, wrong ideas of rescue, i-don't-know-how-many legged animals and all the other Losers' Mambo Jambo.
There is only one side of the market... THE RIGHT SIDE!)

The only think that matters is the sense and meaning of the move of Yesterday!
We are talking about 500 points up plus 500 points down.
The right attitude?
To take them all! (and multiply the opportunity by correct pyramiding)

How to build a proper, personal "Mental Road Map" – 29

A Refresh of the main concept. (Primarily considering the phisical quality of the move of Yesterday)

Good morning to you Jupiter, I am busy reading your thread " Back to the future " and all I can say just by reading the first couple of pages is WOW !. It will take me a very long time to digest everything and go thru all the links that you provided. Thank you for providing a lot of the missing pieces of my puzzle.

Gerald.

Study with passion and patience. And practice (the right things!)
As Gann would have said: Luke 11,1-13.

“So I say to you:
Ask and it will be given to you;
seek and you will find;
knock and the door will be opened to you.
For everyone who asks receives;
he who seeks finds;
and to him who knocks, the door will be opened."

All is about the correct interpretation of the words! One must be "imaginative".

How to become an Educated Trader?

Knowledge is power. That's the point.
Somewhat crudely, I would like to stress the importance of the individual effort to gain higher level of knowledge
whereby a trader is confronted with the complex aspects of price behaviour and trading.

please share some of your insights or works of chart-art - we all want to be scholars of the market.

what is a trader? someone who buys low and sells high. problem is, of course, which to do first. timing..
a trader has no personal interest at all in the product/asset he trades. is this possible? is it possible to trade on a chart without even knowing what instrument is traded?

what is the market? the chart in front of me. no, not the static image. the process, its unfolding in real time. the picture drawing itself. be part of this.

And what about "Buy high and sell higher" or "Price is never too high to buy "?
So it is not so simple...
better to avoid generalizations and comprehend the dynamics.

Yes this is exactly what I think (and mean).

Have a look to the yesterday H1. That was the primary Trend for me.
Try to see the different phases of the battle through the analysis of the Form.
1) An Inverted H&S at the base
2) the attempt by the Bears of building a Double Top as an answer
3) the Bulls attacking the second top forming (a bearish H&S in minor TF)
4) the success of the Bulls and the run toward Absolute High in full extension
5) the Bears building a second Double Top... victorious, this time...

What I'm suggesting is a way to read the terrain and the dynamics of the opposite Market Forces (Supply and Demand) on it.

true of course. for many reasons, if one starts to think about it; one of the reasons being that high and low are hindsight-concepts. but still i believe, this would be the most abstract and general description of any trading system and method. it allows for a million different approaches, but in itself is nothing more than lets say an algebraic formula where the variables are not yet filled with concrete values.

what, then is the central problem of a trader? catching (feeling) the dynamics?

The result of all those battle are in a single D1 candle.... (note the TL at the base)
If I join together the last two D1 candles I obtain an High Wave: market is absolutely confused.