Advanced trading lessons - page 76
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philt i never thought i would say this but, your a good friend! i can just feel it! thanks philt
we are old pals!! trend changer, be patient. i will make this as clear as mud soon!!
philt your right again!! i will have to draw an illustration for the rules...
as i go more work but much clearer . k
more will be cumming soon
all traders are taught that old resistance becomes support!!!
it does happen!! if traders could not see it on the chart they wouldn't buy it!
it happens late in ending no real reword type swings.
it happens and often when it does that level is attacked at least two more times.
it happens with perfect kindness in UN-expected moves, early in reversals.
so millions of traders think this is true. they can see it's true because there eye is looking for it.
what they don't see is - it happens for up moves reversal under the umbrella wing of a down trend.
or they are short lived moves or the level is attacked, before the real move.
it usually means trouble.
support and resistance traders don't make money!! if they did we would all be rich!!
so when previous high in swing leg is tested like that then, that old resistance becoming support !!
that's a trouble sign!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!101 danger danger!!!!!
now when that same detail drawing i showed you happens during the steep swing, just around half way
usually of the swings range potential often you get that same sign. only this time the sign will become a range.
now that things have maxed out you have to change your mind set completely!
trading counter trend swings are not the same as trending swing. maybe i will cover that some day
but not in this week or month.
two more peaces and we are done. you will have everything you need to win.
some of whats left, can be difficult at first to learn, but the best part is so simple a child
could do it. just because one part is easy it actually is powerful.
so far in review 1. measure trending swings. and counter swings. i use daily!
2. find your next open time period, and measure time periods close by and average a range ( a time period range).
3.pay attention to slope in comparison to other swings!
4. look for signs of trouble. (with steep slope trends) and (week trend legs false breaking).
also.. proof. i already showed you the daily Forex chart now i will move the same chart
only change to the weekly... tomorrow.k