...i've been thinking this too...to get a better feel for decision making within the DZ before entry (especially on the 5min setups) would be great to see more or less as it happens....also appreciate the demand on time to do this and the thread may not be the most practical medium to use.
Good work Islander
Hey Islander, if I may ask a quick question, just to see whether I've got the basic principle here...
Assuming the "main swing" is the one going DOWN, the current rally a retracement, is this chart laid out correctly and will we move to 138.2% after 50% retrace according to all this skunnybobosizzlizingbarbequesteaksfibos stuff?
That 50% => 138.2% stuff is what I've learned from another fella on J16, so I'm wondering whether we're not all doing the same thing in the end after all
Right. So we've demystified 2-4 thread's worth with a few thousand posts to "In forex, price often likes to retrace before moving on. Possible targets for that move include, but are not limited to extension, s/r and other techs also influence price." if I understand correctly.
That's really all I (and some others it seems) tried to figure out in almost a dozen posts now - what the whole stuff is supposed to be about
According to many of the professional and ex-professional traders, trading is simple. The retail forex industry mistify's it and many "experts" have an interest to protect - be it an income stream or their "secret" or reputation.
There are many illuminating posts in FF by true professionals and IMO the underlying message is one of simplicity and interperating price action - naked - and getting several thousand hours of real time experience! Peter Crowns's posts are a good example.
What I put on my charts is fairly KISS and at this stage of my trading it helps me and I post to share these ideas with others, hoping that they may find it helpful.
As for input, at the moment I'm stumped as I'm opinionated strongly bearish carry, yet it's doing the opposite and disconnecting itself partly from stocks. So all a bit weird. We'll see how the daily bars end.
GM Issy. Ressurection eh?
