Disliked"Hi Jim i think what Shauny means is that the speed of the market on Euro has switched gears from 8 ema - which is considered fast to 21 Ema. which is still fast. But basically slower than the 8. "
Hello to all,
I have been following the thread for some time now and promised not to ask stupid questions until I was through the entire thread. I am only at page 149 from the start and have stayed up to date and current since about page 400. I have also followed Phillips lessons and Palmer's website. However, this thread is gaining momentum with all the new guys joining and trades being posted that I'm starting to panic as the pages and posts start to run away from me - just to keep up. This is of course a reflection on the work that Philip has done for us all.
So, before the thread runs away from me, and I haven't caught up with the answer............ I think I understand rhythm.........but I don't understand speed? What and how do you determine speed? What does it mean? What does speed tell us?
Thank you for your answers
iPipIgnored
speed of the market basically refers to the momentum the market is traveling. In this system, we have mainly 8,21,89 MAs. Each of them is a speedgear of the market. Look at your charts for EU, you will realized price has been traveling on 8ema(fastest of all gears), and recently touched down on the 21ema(medium gear), showing a slow down of speed, however we are still in a uptrend. Right now, the EU has not touched the 89sma which will be the slowest gear.. The speed of the market allows us to anticipate the momentum the pair is moving. When we see the EU starts to touched the 21ema, we know the speed is slowing down and we will be watching the next time round it touches 21ema, because it might form a TC and continue upwards. It gives you a perspective how fast is the pair moving and how are you going to negotiate the speed, by taking it from the 8 or 21.