Price should not move out of a zone/range until all the profit is eliminated.....correct?
There may actually be a sliver of profit remaining below the large blue space at the top - should mark off the top of this trading range. - Just noticed a price gap - not sure if this is an artifact or actual -something to investigate
Insight, insults and gifts are always welcomed. I promise that once I start getting better at this, I will write in more abstract, zen terms............
PS........and a close of a momo bar in to a zone (and preferably beyond an earlier momo bar inthe same direction) that had previously zeroed out indicates the potential for a countermove rather than a correction (price didnt come back to a previous high before going the other way) and then the zeroing out process has to start again.
razorboy wrote:actually, I think it is much less risky than going for 75 pips. I am all about the "+" side of 75 pips...................
75 pips a week tells me you are using a system and probably scalping with huge leverage and big stop losses and not really "reading the market" (hey, if you can do this week in and week out, all the power to you). 650 pips a week with 100 and 200 pip stop loses playing the daily charts a la the james16 group isn't exactly my cup of tea.
650 with a small amount of risk, means you know how read the market properly and have patience to sit and wait for the right time to buy.
I have the patience........still learning how to read things....
The disasters come when I think I have thought that price has stopped going one way, and it hasn't or I think that price is going to go further and it doesn't. Must separate knowing from knowledge as some may sayMightyOne wrote:If you don't want to make 75+ pips per week then there is nothing for me to say now is there
You say that it is more risky, but I am risking less than 19 pips per trade just like every one else here.
Risky is putting your self in the position to lose 19 pips more frequently than is needed to achieve the same daily or weekly result.
"some days I hit those big moves spot on and other times a disaster" -Razorboy
All I can really tell you is that price does move a hundred or hundreds of pips from the daily extremes within & every 24 hours.
Think about that for a second...
Price is doing some thing EVERY DAY and you are missing out on the moves why?
Price will make higher highs and price will make lower lows, but eventually price will not and eventually price will circle the world 9 times heading either North or South.