lukx zline trading log + cfabian p.35 + adaseb p.48
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- newark18
- rank: 500+ posts
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- Joined: Thu Mar 11, 2010 3:32 am
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- Real name: J
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MO,
Can you tell me if I am going in the right direction? I am starting to view the market as a battle between the pros and the herd. The pros try to create momentum and the herd merely reacts. One needs spurts of energy to generate enough momentum to cause direction. One needs a certain amount of energy to stop momentum of the herd. If I view the markets like this, I am better able to compare candles and sense direction.
If that is true, can I assume that momo is generally created by pros? So after a momo candle and retracement (resting), the subsequent S/R or MZ is created by pros? Initially, I thought it was the pros who created the retracement but I don't think that is the case anymore. It seems like a time when the pros rest, let the market come back and give a better price, cause traders to expect reversals, and then the pros go in the direction that they want.
Or I could be all off. But this is how I have been feeling the market otherwise one could fall into becoming too technical. I would appreciate any feedback.
Can you tell me if I am going in the right direction? I am starting to view the market as a battle between the pros and the herd. The pros try to create momentum and the herd merely reacts. One needs spurts of energy to generate enough momentum to cause direction. One needs a certain amount of energy to stop momentum of the herd. If I view the markets like this, I am better able to compare candles and sense direction.
If that is true, can I assume that momo is generally created by pros? So after a momo candle and retracement (resting), the subsequent S/R or MZ is created by pros? Initially, I thought it was the pros who created the retracement but I don't think that is the case anymore. It seems like a time when the pros rest, let the market come back and give a better price, cause traders to expect reversals, and then the pros go in the direction that they want.
Or I could be all off. But this is how I have been feeling the market otherwise one could fall into becoming too technical. I would appreciate any feedback.
Failure is an opportunity to learn.
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FXfreak wrote:dragon, which version of the ff-calendar do you use? there are a lot of different versions but none of them is working....
thanks!
This one works, don't forget to check allow dll imports!!!
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- FFCal_1.ex4
- (33.18 KiB) Downloaded 231 times
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- FFCal_1.mq4
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Trading is like cycling, first you need to learn how.
Two options: you either lose or win!
Two options: you either lose or win!
MO thank for your charts and explanations. Was thinking of your explanations and helped to get a small piece of the last "y". Now need to heed your other advice of staying in until price closes above a line. Once again thank you.
MightyOne wrote: It is called Price Reaching.
Mostly non-momo with moments of activity to get traders heading in the wrong direction.
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- eu.gif (47.2 KiB) Viewed 3541 times
Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO
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