Simply basic price patterns can make you an absolute fortune in this game - look at the one above on GOLD!
This is 100% why I advocate using swing files - you get to see the market in a different perspective
The chart is UK: WWH - the spread is way to wide to trade this
The 2 high Lows trade to the left of the chart, worked, but you'd of broken even on the trade at worst - This is WHY money management is crucial in this game!
There's nothing special to this trading method - It's also an Elliott Wave (EW) method too, but often if you employ strict EW rules you wouldn't take the trade.
TIP: If you have software that can search for Elliott Waves, then set it to look for Wave 4's
the blue W4 box on my software tells me that price is in the perfect price AND time zone for a EW 4
If price CLOSES below the #3 low then it would CONFIRM a bearish swing low
For simplicity all we want is for price to validate the trade by trading LOWER than #3 and we'd be in the trade
Again simple money management rules - Stop = 25% of the 50 period ATR (20pts) / once up 2 x risk (40pts) stop goes to break-even +0.1 to ensure some sort of profit and then protect 40% of any open profit
Opportunity, excellent R profit potential, excellent risk management = As good as it gets, doesn't guarantee a wining trade though
Just to remind you there was and is no pandemic.
As shown in previous posts the 5 year rolling average of deaths from flu and associated pneumonia is around 35,000 per year in the UK (NHS data) so this covid year looks like being just above average. Always the seriously ill end of lifers.
But the distribution curve is standard so a few others are caught out every year.
Also posted above, of the 40,000 who are listed as dying from flu (covid) the total number of healthy people under the age of 60 who died was around 250 (no pre-existing conditions, NHS data), sad but also about average.
Meanwhile the cost of Lockdown is still ahead of us, govt reports estimate over 200,000 deaths from undiscovered health problems (missed cancers, heart problems etc).
There will be the collapse of thousands of businesses and millions unemployed once the govt handouts cease.
And the loss of liberties, you won't be getting them back any time soon as Johnson says the second flu spike around Dec/Jan/Feb could see 10s of thousands more flu deaths.
Yes, about 35,000, - the ***** rolling yearly average!
You've been had.
Still, lets keep this farce running now the masses are cowered and completely subservient.
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