DislikedHi Foggy,
Just reviewing this week and I have a question. On post 243 of the aud/usd can you tell me what the numbers 0.91761, 0.9085, 0.8927, and 0.88270 represent and how you chose them to highlight. Thanks again for all the help.
DJIgnored
The levels you are looking at are daily and weekly thrust supports turned resistance.
I use daily, weekly and monthly thrust levels to decide when it is appropriate to trade a specific pair. If you mark the first and last thrust bar in each sequence then you will see how the price reacts to these levels, the higher the timeframe the more important. For example, you may find that we have three bullish thrusts in a row then price tests that last bullish thrusts low a few times before finally removing it to a close. Once it is removed to a close that now provides you with your resistance level and you then zoom in to lower timeframes and look for opportunities on approach to this level.
Just bring up a plain candle daily chart and mark these levels and see how price reacts to them and you will quickly train your eye to spot them, its quick simple really but very powerful.
Hope this helps,
Cheers
Foggytrader