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Trading with Deadly Accuracy

  • #1,561
  • Quote
  • Nov 17, 2011 11:44am Nov 17, 2011 11:44am
Golden gold analysis (recorded 15/11/11): http://www.bit.ly/vUR5Ve
Superb!!
I am usually Wrong
I missed this very easy, very obvious pullback to 1.5800 on GBPUSD because at some point I actually have to work!

I hope one of you got it.

CJ.-
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Quoting ZeeJay

because at some point I actually have to work!

CJ.-
yeah... gets in the way of my trading too.... I'm working on that....

dazz
dazz
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  • #1,566
  • Quote
  • Edited 5:58am Nov 18, 2011 5:51am | Edited 5:58am
One thing wmd teaches is.... "There is always a reason price reacted the way it did at any turning point. Your job is to analyse the chart, find the reason, understand it, remember it, and use that understanding in future analysis".

It's a good lesson. I was looking at the chart I posted above, thinking "I see they reason price reacted at that point. However, could there be another reason?"

By looking for this, the market may present new information to you. Information that may enhance you understanding of how price moves the way it does, and if understood, you can use that little discovery for future analysis to your benefit.

Looking at my previous chart of the cable, I looked again to see if I could find another reason.... and I beleive I found one.

Am I right? Who’s to say, but at the very least it is interesting isn’t it.

The lines I am referring to at the black trend lines. Also notice the beautiful symmetry.

(Also note that the upsloping blue trend line I show in the previous chart - my previous post) I have dimmed and dotted, so its not as obvious on the chart - but its still there)

Doing this exercise will yield results, bring a smile to your face and might just bring that “ah ha!” moment that takes you to the next level in your trading.

Give it a try.

dazz
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Quoting dazzdude
One thing wmd teaches is.... "There is always a reason price reacted the way it did at any turning point. Your job is to analyse the chart, find the reason, understand it, remember it, and use that understanding in future analysis".

It's a good lesson. I was looking at the chart I posted above, thinking "I see they reason price reacted at that point. However, could there be another reason?"
[color=black][font=Verdana]...
can u please tell me what software do u use to mark your charts with all this arrows?
Trade responsiblypatience is the key/Swing trader
Quoting Incrediblle
can u please tell me what software do u use to mark your charts with all this arrows?
my pleasure.. its free

dazz
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thanx
Trade responsiblypatience is the key/Swing trader
my take on EU
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Trade responsiblypatience is the key/Swing trader
one thing I am doing (I've been encouraged to do), which I am finding beneficial, is anticipating some options for price movement. Then look back afterwards and see if I right or wrong and what ever happens, try and learn something from that. It's a good exercise in developing an understanding on how price moves.

here is an example...

dazz
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Quoting Incrediblle
my take on EU
nice arrow :-)
aud

dazz
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Quoting dazzdude
NZ, expecting LTL to hold and reject

dazz
end of week follow on NZ post

dazz
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exploring options
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A hundred or so hours, and my first post in this great thread!
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"As Kids we believe Anything is Possible; the Trick is to never forget it!"
confluence... my favourite word

dazz
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Quoting teemo
A hundred or so hours, and my first post in this great thread!
lovely lines teemo

dazz
Thanks Dazz, Compliments on your charts and great contributions to this thread.


Quoting dazzdude
lovely lines teemo

dazz
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
something about this chart does not feel right.... but I do not know what it is.... so I am leaving it alone (but watching none the less)

aud$ feel better to me (would not suggest exposing yourself to both aud crosses) when that happens, pick the 'cleanest' chart.

chart 1: 4hr
chart 2: daily

dazz
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