Profit is where readiness meets Opportunity
Charts, Charts, Charts! 1 reply
Few analysis methods 6 replies
DislikedAwesome thread.. lots of good things to learn here. I do have a few questions though.
First of all, in one of the earlier posts you write "I just try to look for correllations where there could be a reaction and try to profit from it." What sort of correlations are those and how to spot them? It would be awesome if you could post some charts explaining this.
Secondly, I'd like to learn more about the projections that you show on some charts a while back. Where would I get any info on that as I have not seen anything on the subject on the web?
My third question is in regard to the murrey math. What is your opinion of it? I do have some material on it, and would like to know what sort of thing I can expect from it from someone who's had experience trading it.
Anyway, I'll be following your thread carefully. Also, I'll try to post some of my own technical analysis charts and hopefully you can review and comment on that. Thanks
DislikedIn the attached chart, I've drawn some of the resistance/support levels that refer to the shorter time frames (15, 30 min) for intraday trades. The problem I have is there are quite a lot of them and some are really close to each other. How do I go about deciding which ones are major and which ones are less significant? Or do I leave all of them on and just observe which level will the price react to? These are some basic questions, and there is a lot of material on the internet on the subject, and yet I haven't been able to find anything that tells you what to do in such cases.Ignored
DislikedThanks for your answer Ghitz,
Here's my improved chart. We can see that right now there is some heave resistance 1.9719, and this is also where the pivot point is. Also, it is at the upper channel line. Let me know what you think.Ignored
Dislikedseems like you got it qute right. have a look at this chart. weekly chart. also look at the monthly chart. bar for january is currently a huge spinning top. fibs are from the high to low. put that together with a 4 hr chart. look at swing lows. look at price congestions on 60 mins. look at monthly and weekly open-closing levels, and you got your map.Ignored
Dislikedthanks for the info. just to make sure, you put the fibs from the high to low right? whats the reason for that?Ignored