Are you guys making first the PPZ Levels and wait for the PA or are you drawing this Levels then when the PA has been formed?
I think most of the advanced traders draw them before PA shows up. But as you get better you certainly don't have to draw each one of them because you can spot them in the blink of an eye just by looking at a naked chart.
Here is a nice exercise I do (inspired by the great Dr. Pinbar
) and that helps me a lot with spotting PPZ and doing chart analysis:1. Take a random chart and put only BRNs and PPZs on it.
2. Then add numbers where you see something relevant.
3. Describe/write down exactly what it is you see at each number (e.g. S/R behavior, price pressure, PA indication, what does the mass of traders probably think and do at certain points, etc.)
Here's one I'm doing at the moment. I go through it bar by bar. Everywhere I see something relevant happen I put a number and write down what I see and expect there. Just do one chart and you'll have a totally new perspective on price behaviour in general.
Hope this helps
Hans
Thanks J16, Sam Seiden, Udine and Jacko
(self-reliance, self-discipline, goals helps tremendously to help keep one on the right track --- these have helped)
), just checking if price has momentum to go up.
