Doing a weekly top-down technical scan and analysis of pairs ahead of each week is critical to effective, efficient and profitable trading. It helps the trader make the most of their time and spend appropriate time on the right things to do when the market is in session. What pairs to trade based on well-stipulated criteria, what to look for in tracking the market and what set-ups to best use are facilitated by proper planning and preparation which is enhanced by a thorough top-down technical analysis done ahead of the trading week, say, every Sunday.
One of the quotations I love in this regard is from Abraham Lincoln who said:
'Give me six hours to chop down a tree and I will spend the first four sharpening the axe.'
I am starting this thread because I want to share my weekly scan and analysis with FF members and I hope others who do such weekly scan and analysis based on a top-down technical approach will use this thread to share theirs with other members. However, this thread is not about any specific system and will not be used to teach traders specific techniques or strategies.
Posts on this thread should contain substantial narratives that describe the market structure, order flow context, key technical issues and significant price actions from the perspectives of the weekly, daily and 4-hourly time frames in that order. Then, appropriate charts to illustrate the narratives should be attached, at least covering the weekly and daily time frames. If the 4-hourly time frame helps bring out further insight, or clarifies certain aspects of the narrative, that should be included in the attachment.
Please, do not just post charts without narratives; in fact, the narrative should come first and then illustrated by the charts. Nevertheless, if your charts are well illustrated without being complicated or confusing, the amount of narrative can be reduced but the narrative should always come first.
Also, please do not post confusing, complicated or meaningless charts. The simpler they are the better.
The top-down technical analysis should be done ahead of the week and posted latest during the London open each Monday. Any mid-week update may follow and any post-analysis report or update during the week can be done but not for the purpose of show-off, ridicule or criticism.
Contributors to the thread should respect other contributors and abide by FF code of ethics. Personally, I will endeavour to post here twice a week.
Once in a while other items like videos, quotations, maxims and principles relevant to top-down technical analysis can be shared if they help foster consistent profutable trading.
Trade safe and well.
KP
I am updating this post to inform readers and contributors that effective January 2017, I will be incorporating the viewpoint from the monthly time frame where it is relevant to do so. The monthly time frame gives a huge context for the weekly technical outlook, particularly to get a broader outlook, potential targets and turning points, beneficial to swing and position traders. It may not be necessary to get the monthly viewpoint in all cases but when such a viewpoint is likely to make the analysis more potent or clarify certain aspects of price action which may not be captured effectively on the weekly time frame, the outlook from the monthly time frame will be incorporated.
Trade safe and prosper.
KP
January 1, 2017
One of the quotations I love in this regard is from Abraham Lincoln who said:
'Give me six hours to chop down a tree and I will spend the first four sharpening the axe.'
I am starting this thread because I want to share my weekly scan and analysis with FF members and I hope others who do such weekly scan and analysis based on a top-down technical approach will use this thread to share theirs with other members. However, this thread is not about any specific system and will not be used to teach traders specific techniques or strategies.
Posts on this thread should contain substantial narratives that describe the market structure, order flow context, key technical issues and significant price actions from the perspectives of the weekly, daily and 4-hourly time frames in that order. Then, appropriate charts to illustrate the narratives should be attached, at least covering the weekly and daily time frames. If the 4-hourly time frame helps bring out further insight, or clarifies certain aspects of the narrative, that should be included in the attachment.
Please, do not just post charts without narratives; in fact, the narrative should come first and then illustrated by the charts. Nevertheless, if your charts are well illustrated without being complicated or confusing, the amount of narrative can be reduced but the narrative should always come first.
Also, please do not post confusing, complicated or meaningless charts. The simpler they are the better.
The top-down technical analysis should be done ahead of the week and posted latest during the London open each Monday. Any mid-week update may follow and any post-analysis report or update during the week can be done but not for the purpose of show-off, ridicule or criticism.
Contributors to the thread should respect other contributors and abide by FF code of ethics. Personally, I will endeavour to post here twice a week.
Once in a while other items like videos, quotations, maxims and principles relevant to top-down technical analysis can be shared if they help foster consistent profutable trading.
Trade safe and well.
KP
Need to incorporate viewpoint from the monthly time frame
I am updating this post to inform readers and contributors that effective January 2017, I will be incorporating the viewpoint from the monthly time frame where it is relevant to do so. The monthly time frame gives a huge context for the weekly technical outlook, particularly to get a broader outlook, potential targets and turning points, beneficial to swing and position traders. It may not be necessary to get the monthly viewpoint in all cases but when such a viewpoint is likely to make the analysis more potent or clarify certain aspects of price action which may not be captured effectively on the weekly time frame, the outlook from the monthly time frame will be incorporated.
Trade safe and prosper.
KP
January 1, 2017
Do your homework, follow the footprints of smart money
