Intraday FX Player

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looks like we could be having a rev head and shoulders here on the 5 min, a few tails on the 30 min, we need to get above 665 though.
 
Quote from yoohoo:

2 things to learn - the 5 min chart - and how a big move can turn just before the obvious place - the prior bottom. That's what I mentioned in the Stochastics thread if you read it about using a MA to predict a turn when others are expecting a double bottom/top.

sweet pp here
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Hope things are better over there by now -

Which Stochastic spread (title) please??
Because I didn't get the point yet how to use MAs price- and timewise as you have mentioned it within this thread.

Thanks.
 
one more question regarding double horns yoohoo, what's the optimal point to enter them, is it as soon as price breaks the midpoint or is it as soon as it breaks the extension of a trendline you draw from a previous low and the midpoint. (hope I'm making myself clear here).
 
That Amazon chart looks like a good example to analyze and study..... ...I would imagine looking at resistance levels,and understanding strength levels, the strength of the different trend waves,and seeing the shorter cycle within the longer cycle for timing and changes...
If the 'double horns' indicate some sort of a drop...the next question is how far down..... I would imagine trendlines would show a better picture. I'm learning that S/R levels and trendlines are really remarkably accurate.......(except when they get broken thru..lol)...but it seems like 80 % of the time the PA moves right to the exact s/r points on the trendline.
 
Some general thoughts......... seems to me, that two things are necessary to do in preparation for trading,ongoing intraday trading..... One is to always draw complete and accurate trendlines,and S/R lines,...and Keep them current....and the second thing is to Watch the PA carefully and to do these two things simultaneously.....and have the picture clear before entering a trade.... such that when you can see the PA moving into a triangle terminal, and you know there's going to be the big movement coming soon.... the trendlines pointing down will show what is likely If its going down...and the other trendlines up will show that direction...and from that perspective, while waiting for the big move.... my own personal plan (intraday,trading off the 5 and 15 min.chart)...would be looking to jump on board whichever way it goes.....but at least one can 'see' what the possibilities are....indicated by those trendlines.
 
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