Hi Mike/jim,
I have drawn the PPZ lines on EURUSD. Starting from Monthly to Weekly to Daily
Monthly : Dark Green color
Weekly : Gold color
Daily: Black color
Method used: Zoom out on monthly and put the chart in line graph mode. Draw lines where the price has both acted as support and resistance. then going to Weekly and then to daily.
Now I need to wait for price to come to these levels, look at the PA, wait for ret at fib level and then fire the trade.
Its been only a week but I have stopped staring at the terminal and watch price like stupid...I spend most of the time reading this thread which makes me occupied and not look at the charts.
I have opened a demo account and will only take trades if prices comes to me (SR level with PA) . no more 5mins chart nor 4hr charts for me...Ok enough talking
Please let me know your feedback.
Thanks,
Amar
I have drawn the PPZ lines on EURUSD. Starting from Monthly to Weekly to Daily
Monthly : Dark Green color
Weekly : Gold color
Daily: Black color
Method used: Zoom out on monthly and put the chart in line graph mode. Draw lines where the price has both acted as support and resistance. then going to Weekly and then to daily.
Now I need to wait for price to come to these levels, look at the PA, wait for ret at fib level and then fire the trade.
Its been only a week but I have stopped staring at the terminal and watch price like stupid...I spend most of the time reading this thread which makes me occupied and not look at the charts.
I have opened a demo account and will only take trades if prices comes to me (SR level with PA) . no more 5mins chart nor 4hr charts for me...Ok enough talking
Please let me know your feedback.
Thanks,
Amar