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start with a blank canvas
- Thread starter ammo
- Start date
http://i.imgur.com/XEfGnsT.png cash 75-71 res, test 59-56 for supp, 1840 below
http://i.imgur.com/1jIA8Wg.png dow hit supp yest but no bounce
http://i.imgur.com/NzVVKUt.png trans hit top of that nip yest and bounced 80,maybe retest and touch the 7682
http://i.imgur.com/o8DbUok.png russel 12-13 pt hns pattern
http://i.imgur.com/ghPZ104.png usd jpy walking down the stairs to 100 50-60 area
http://i.imgur.com/jl7XpWN.png ndx broke nip ,hit ledge back to nip,may be res, retest the 535 ledge and drop to 496-80
http://i.imgur.com/1jIA8Wg.png dow hit supp yest but no bounce
http://i.imgur.com/NzVVKUt.png trans hit top of that nip yest and bounced 80,maybe retest and touch the 7682
http://i.imgur.com/o8DbUok.png russel 12-13 pt hns pattern
http://i.imgur.com/ghPZ104.png usd jpy walking down the stairs to 100 50-60 area
http://i.imgur.com/jl7XpWN.png ndx broke nip ,hit ledge back to nip,may be res, retest the 535 ledge and drop to 496-80
Good stuff
anyone that wants to learn mp, get a $5 graph paper notebook, chart the es reg trading hours from 8 30-3 15,using 30 minute timeframe, within 6 months , your hand will tell you where the next letter is going, take that knowledge, apply it to the multi day,multi month charts, use several correlating indexes, watch how they work as teammates, they will be going into or out of sync and you will intuitively know where the market is going, not always but when it sets up,you can make a living
doing it in this manner will build the knowledge and trust in repetitive behavior needed , and it will force you to prove it to yourself, not something you read about that may or may not work
doing it in this manner will build the knowledge and trust in repetitive behavior needed , and it will force you to prove it to yourself, not something you read about that may or may not work
[url]http://i.imgur.com/jl7XpWN.png ndx broke nip ,hit ledge back to nip,may be res, retest the 535 ledge and drop to 496-80
On the NDX chart, what made you mention the drop to the 496-80 vs the nip in between the 535 ledge and the 496-80 one? I am trying to figure out what makes a valid nip/ledge/cleavage that support would hold. Sorry for the basic question, I haven't traded profile before.
http://i.imgur.com/o8wl1D2.png just the shape, there is a lot of to and fro between those points , it goes from point to point regardless of the to and fro in between,the hard part is matching volume and momentum ,looking at multiple timeframes, on the eve of a holiday, it will most likely respect the last 5 days movement, on a fed rate hike or drop, it affects the largest positions, globally , those two extremes and everything in between, but if you are day trading ,you need to know where the larger timeframe nip is,so if you are making higher highs,higher lows,rallying ,you know where the big ship and the dock are,the largest players that move the markets,
none of these explanations will make sense til you've hand charted, and very few who've asked and have been advised follow thru with that excercise, what i see , i can only crudely explain, but i know what i know, not how or why i know it, if that makes any sense, from doing the hand charting, you force yourself to apply day in day out, the repetitive patterns and you learn it through osmossis , not trying to say i know this or that, instead you just go with the market, you join it so to speak by handcharting and in turn recognize it's repetitive behavior
none of these explanations will make sense til you've hand charted, and very few who've asked and have been advised follow thru with that excercise, what i see , i can only crudely explain, but i know what i know, not how or why i know it, if that makes any sense, from doing the hand charting, you force yourself to apply day in day out, the repetitive patterns and you learn it through osmossis , not trying to say i know this or that, instead you just go with the market, you join it so to speak by handcharting and in turn recognize it's repetitive behavior
http://i.imgur.com/o8wl1D2.png just the shape, there is a lot of to and fro between those points , it goes from point to point regardless of the to and fro in between,the hard part is matching volume and momentum ,looking at multiple timeframes, on the eve of a holiday, it will most likely respect the last 5 days movement, on a fed rate hike or drop, it affects the largest positions, globally , those two extremes and everything in between, but if you are day trading ,you need to know where the larger timeframe nip is,so if you are making higher highs,higher lows,rallying ,you know where the big ship and the dock are,the largest players that move the markets,
none of these explanations will make sense til you've hand charted, and very few who've asked and have been advised follow thru with that excercise, what i see , i can only crudely explain, but i know what i know, not how or why i know it, if that makes any sense, from doing the hand charting, you force yourself to apply day in day out, the repetitive patterns and you learn it through osmossis , not trying to say i know this or that, instead you just go with the market, you join it so to speak by handcharting and in turn recognize it's repetitive behavior
That makes a lot of sense. In the past I kept a p&f chart by hand, it helped me get a feel for how long it was taking to fill in another block vs. just glancing at a historical chart that was already completed. You could almost get a sense of the shift of momentum.