Stalking GBPJPY and AUDUSD.
The chart with annotations below shows some interesting possibilities.
Price may or may not reach the striking zone in the charts below. They don’t mind if the prey escapes and moves on for a while; they’ll catch um another time!! Good snipers wait in the ‘bush’, stalking their prey for a high probability ‘kill’ conditions. Snipers know that there is a chance that they can miss, that’s why they wait on optimal conditions.
How it works:
- Human eye used to spot the trend or trend change.
- EMAs give an indication of the trend.
- Trend lines show areas of possible support or resistance.
- WVF gives and idea if there is likely to be a bounce.
- OBV tells the volume in the system.
- RSI tells where price is overheating or over-cooling.
There is no fixed formula for working it all out. In some situations. Various combinations the above lead to various weightings on each of the above. In AUDUSD scenario above, there could be an early trend change – and we can’t see what may happen in the future. Prepare to lose – at the trend line.
What people want is ‘guarantees’ of a win. Sorry!! This is a business where your guarantee is a 60 – 80% chance of losing!
Conversation with a failed trader
Today I met a chap who is a failed trader. This was a rare opportunity.Read More
Bitcoin: Investor, trader, gambler or idiot?
In the last few months we’ve received inquiries from several about Bitcoin and various similarRead More