I got interested in this strategy some time ago because it belongs to the group of classical analysis methods and because here you can use different settings in order to accentuate different levels and accordingly provide the most comfortable working conditions. I think this is really important for everyone, especially considering that our business is very complex and requires a lot of knowledge. I think you did the right thing too when you decided to use it in your daily work. I hope that every day you see exactly the results that deserve attention and give you a good profit. Everyone chooses exactly what allows them to be effective.
I got interested in this strategy some time ago because it belongs to the group of classical analysis methods and because here you can use different settings in order to accentuate different levels and accordingly provide the most comfortable working conditions. I think this is really important for everyone, especially considering that our business is very complex and requires a lot of knowledge. I think you did the right thing too when you decided to use it in your daily work. I hope that every day you see exactly the results that deserve attention...
Ignored
Hi Mossma,
very wise words.
I hoped to get more structure to my trading with respect to main direction. Unfortunetaly after a few month I experienced to be lost in "expected structure". Therefore I changed my approach to a simple trend count. All I'm doing right now is to answer the question whether I trade with or against current trend and whether current trend is in line with trend of higher levels:
Instead of being lost in complex countings I use my "gesunder menschenverstand" to decide whether the trend is exausted, where are potential S/R-Lines etc.
Thank you for sharing your updated approach! I completely understand the value of simplifying your trend analysis. Focusing on whether to trade with or against the current trend, and aligning it with higher time frame trends, is a solid strategy.
In my trading, especially during the London session open, I also emphasize identifying key support and resistance levels. This helps me gauge market sentiment and potential reversals right at the start of the session. By combining your "gesunder menschenverstand" with the insights gained from the London session open, we can make more strategic decisions about trend exhaustion and entry points.
Wishing you all the best in your trading journey!
