I just draw on charts and make pips don't know anything else.
Enter on shorter time frames such as Daily/4HR for precise entry points and let the trades run.
Risk no more than 2% of account.
COUNT PIPS COUNT PIPS COUNT PIPS NOT MONEY.
Key Day support level of 24250 held, price currently heading towards a key Day resistance level of 25450. Looking for price to climb to level and fail before looking for short opportunity.
One more Comment,
Strong USD is worth investigating today, the US Wall Street 30 Index trades at 25259.5 level today, which is below yesterday's close , If you bare in mind the strong up Trend (view chart above), as well as the fact that we got 4 consequent up days the following summery should be considered,
summery: Based on our trend following strategy we may...
There is a resistance ledge that seems to be failing on the weekly time frame of the US30.
Why do I think it's failing? I see three candle wicks in the ledge, which informs me that there is serious bear pressure in what is a bear market (at this time). Am I saying it is going to fail and go south? No - I'm not saying that.
What I am saying is that the greater...
Financial news is something I avoid in general. However, the major events in the news like talk about war is one that I pay attention to. Wars generally sends markets south for a few weeks to months.
The markets have been very nervous of late as there has been the beating of war drums, to launch an attack on Syria. I'm not interested in whether there will be a...
In this video I show what I think is a pattern that creates a greater probability for the south.
I explain more on how I draw my trend lines, which may not be what the gurus teach people to do.
The main feature is a contracting pattern on the 4H which stand to be beaten by the big trend from the Daily.
I'm not saying the pattern will break soon. Price may...
Wall street and many other stock indices are at critical positions.
In this video I drill into the action today, from the monthly down into the 5 min time frame, approaching end of the day's session.
The GER30 is in a critical position and fighting hard to stay afloat. It rules the world.
In general the GER30 does not like a strong EURUSD. And the US30 does...
3-minute video. I look over a number of trends on various stock indices, pointing out some interesting situations.
The challenge with trend lines is to spot them early enough and to believe your own eyes.
In this vlog I explore mainly the shape of the younger Bitcoin parabolic correction with the much older and seasoned Wall Street (US30).
The emphasis here is in the nature of the struggle to avoid correction and the similarities in form .
The parabolic struggle seen in Bitcoin on the daily time frame, could well be reflected in the US30 on a weekly time...
The VIX is called the 'Fear Index'. That's for a good reason. In times of high volatility what do you do? People in general stay out i.e. they sell off and keep their powder dry, or look for safe havens. They fear for their money, even if they don't admit it.
As a trader you're told 'volatility is good for traders'. But really - is it? It depends on how extreme...
After a record breaking run, US30's price action has taken a break - and found itself in a tight range. This might indicate a break to the upside is on the cards.
The price appears to have found a support zone, and is still hovering well above the rising 72 period simple moving average.
Furthermore, the US 10 year bond yield ( US10Y 1.21% ) has risen, indicating...