Any professional trader wants to help me with this? I'm only about 60% right.
I know there must be better techniques out there,
Thanks.
I know there must be better techniques out there,
Thanks.
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Disliked{quote} I use basic instincts, but yeah, feels like i'm being stabbed when my prediction fails. I just look at the charts from the left side and see if the level held before, and how fast the price is moving, when getting closer to a level. It is not very logical... I know there are better ways out there.Ignored
DislikedAny professional trader wants to help me with this? I'm only about 60% right. I know there must be better techniques out there, Thanks.Ignored
DislikedMomentum is the key. Decreased momentum as the S/R is approached indicates possible reversal. You might also see a divergence. Increasing momentum at the level indicates probable breakout.Ignored
Disliked1. look at higher time frames 2. look at Dollar index if your trading a usd pair. 3. look at correlations with other markets.. Such as Dow, SPX, Dax, Oil, Gold, copper, hong kong, japan stocks 4. Time of day.. Asia pretty weak.. London a little stronger... USA/London overlap Very powerful can break levels easy 5. Data releases can break levels 6. Structure of the market above and below the S/R 7. Make sure your drawing s/r correctly 8. Is it the first retest of S/R or 2nd or 3rd.. Each retest level gets weaker.. Best is always first retest. 9. Quick...Ignored
DislikedVery interesting question. No bodies knows which fibs level gonna hold. But as a trader the good strategy is about finding which fibs level has the highest probabilty of being a strong support. Usually the fibs level that has a cluster of other supports other than fibs level has the highest probability. Because fibs level is only one method of finding the support are resistance. Other supports means - there are 4 dimesions in market analysis. Momentum, price , pattern and time. If you are hoping certain fibs level gonna hold, first you got to do...Ignored
DislikedAny professional trader wants to help me with this? I'm only about 60% right. I know there must be better techniques out there, Thanks.Ignored
Disliked{quote} Most hedge fund managers are right about 50% of the time... (That's with 2 reward to 1 risk roughly) So if you are right 60% of the time then you are beating the pro's.Ignored