The above plan is all well and good, but the image of the five-minute NZDJPY chart below illustrates how knowing that you want to buy or sell is not enough—that having measures which tell you exactly when to get in (and when to get out) is absolutely essential...
Numerical Price Prediction Daily Analyses
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- Start date
According to newly modified lower-term chart setups containing what are believed to be three major corrections, a number of foreign currency pairs have day-to-day trends that might possibly be reversing from bearish to bullish, but which have yet to be confirmed by the longer-term charts. This entry will note which assets are included so as to validate or invalidate the the new configurations. They are:
AUDJPY (just getting started)
AUDUSD
CADJPY (just getting started)
EURJPY
GBPJPY
NZDUSD
NZDJPY (just getting started)
Unlike the other yen pairs, USDJPY has not quite yet initiated a turn, and USDCAD presently looks to be attempting to go from slightly bullish to slightly bearish.
AUDJPY (just getting started)
AUDUSD
CADJPY (just getting started)
EURJPY
GBPJPY
NZDUSD
NZDJPY (just getting started)
Unlike the other yen pairs, USDJPY has not quite yet initiated a turn, and USDCAD presently looks to be attempting to go from slightly bullish to slightly bearish.
At this point (three hours into the new week) only EURJPY and GBPJPY are still hanging on to their potentially bullish signals from last Friday.
Sunday / August 2, 2020
On your "optimized" chart setup from Thursday, you have an envelope that falls between what you might characterize as the daily price range envelopes (not pictured) and the hourly price range envelopes...
In just now extrapolating a four-hour baseline from the moving average underlying those hourly price range envelopes, you discovered that the resulting associated/corresponding four-hour price range envelopes match the envelope that fell between the daily price range envelopes and the hourly price range envelopes almost exactly...
Theoretically, trading with this new (but not new) four-hour, one-hour, five-minute perspective ought to enhance your profitability by providing you with a very orderly arrangement for conceptualizing exactly what the market makers (or rates) are up to at any given moment.
It should be fun seeing if this pans out during actual trading.
On your "optimized" chart setup from Thursday, you have an envelope that falls between what you might characterize as the daily price range envelopes (not pictured) and the hourly price range envelopes...
In just now extrapolating a four-hour baseline from the moving average underlying those hourly price range envelopes, you discovered that the resulting associated/corresponding four-hour price range envelopes match the envelope that fell between the daily price range envelopes and the hourly price range envelopes almost exactly...
Theoretically, trading with this new (but not new) four-hour, one-hour, five-minute perspective ought to enhance your profitability by providing you with a very orderly arrangement for conceptualizing exactly what the market makers (or rates) are up to at any given moment.
It should be fun seeing if this pans out during actual trading.
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I don’t recall. I have essentially stopped experimenting and am more-or-less convinced most all of my settings have been optimized for success, and since I might at some point want to try "scaling" the income I can generate from what I’ve learned by finding a way I to let others in on how to use the system profitably, I’ve decided to cease being open with details.
At this point I’m just using the journal to check on the accuracy of my forecasts by comparing what I think the market is going to do with what actually happens, or to record how my success rate changes if I alter this or that, or to post images of chart setups so I can return to them in the future to see if I’m still doing the same thing, or something similar, or something totally different.
I added one more envelope and might have entered this position prematurely in that the new (greenish-blue) envelope has not yet hooked to the south...
I did indeed execute this trade way too early. So, based on this event, it would seem I should have waited for candlesticks to begin forming beneath the purple moving average cluster before entering a short position...
This next trade was executed in a more timely fashion, and as a result, it is already in profit territory...
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If you don’t mind me asking, what “convinced” you that your “settings” have been optimized for success? Don’t gotta give details just an overall birds eye view of how you worked out the kinks in your strategy?
What convinced me is that "predictions" forecast after interpreting what the charts were telling me panned out as anticipated. And the "read" always made sense. The "story" unfolded as the graphics indicated it "should."
For example, take the pair from earlier today—the one that I shorted too early...
The chart told me...
- That I should look to sell the pair, which had a bearish bias.
- That I entered the trade too early.
- Exactly where I should have executed the trade (gone short).
- When the sentiment began to turn bullish (when to start looking to buy).
- Exactly where to get out with a profit before the pair could turn against me.
- Where to enter a long position (buy the dip).
- Where to pocket my gains from the long position.
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Why did you enter the above position too early?
I was focusing on the notion of trading with a four-hour, one-hour, five-minute perspective, and in the process, neglecting other aspects of the market along with other measures that appear on my more detailed charts...
But now that I've seen what I needed to see, I will again broaden my "view"and simply integrate the four-hour, one-hour, five-minute perspective in with everything else, so that this same decision-making error should not occur again...hypothetically.