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26 minutes ago, dmedin said:

How about practicing Elliot Wave?  

I can see the usefulness of listening to someone with experience in price action and chart structure on a five minute chart, but I doubt Elliot Wave would be useful. I will brave the idiosyncratic lingo of Al Brooks.

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Was interesting @PandaFace, even more so now as people realised Trump was only discounting the most severe response  to China (for the moment), not actually halting the 'trade war'. Bounce off th

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Dax pausing at the weekly R1 and Dow within striking distance of it's all time high. H1 charts;

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3 minutes ago, AndrewS said:

I can see the usefulness of listening to someone with experience in price action and chart structure on a five minute chart, but I doubt Elliot Wave would be useful. I will brave the idiosyncratic lingo of Al Brooks.

 

Well good luck with that, five minute charts are no use to me.

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6 minutes ago, dmedin said:

 

Well good luck with that, five minute charts are no use to me.

Look at it another way. If someone can’t spot something on a five minute time frame (and the type of analysis is useful for longer time frames) how good are they really?

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8 hours ago, AndrewS said:

Look at it another way. If someone can’t spot something on a five minute time frame (and the type of analysis is useful for longer time frames) how good are they really?

 

Is your 'Al Brooks' good?  And if so, why's he spending his time teaching and not trading on the five minute charts?

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8 hours ago, dmedin said:

 

Is your 'Al Brooks' good?  And if so, why's he spending his time teaching and not trading on the five minute charts?

I am not going to answer that, except to say that I have seen some of his videos and am confident I can benefit from seeing more.

There is also Bob Volman’s “Understanding Price Action: practical analysis of the 5-minute time frame”.  There is a lot of free introductory  videos posted here that look alright to me, but I don’t think I have much to learn from.

One of the difficulties beginners have is they can’t tell what they may not benefit from and is probably ****, hence all the You Tube advertisements I am getting while watching Brian Watt’s videos.

I got censored. 😀

Edited by AndrewS
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I'm not sure how or why, if you've already been profitable 1700 out of 1900 times.

A lot of TA education is cherry picking and showing you the awesome power of hindsight and isn't useful at all for trying to trade.

I imagine it's good money though, as you have lots of desperate and gullible people paying you money to receive 'training'.

Edited by dmedin
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FTSE 100 - now something like 53% of IG clients short, just a little while ago is was 60%+ long.  See how people get stopped out when it makes a false break down.  If they were looking at higher time frames and keeping deeper stops they would stay in their trades and make money.

969237560_FTSE100_20200720_07_38.thumb.png.a4411155ab036557c96ad266ff8f1bb4.png

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On 18/07/2020 at 21:23, AndrewS said:

Since the high of the Nasdaq and the consolidation at the recent highs the Indices have been going there own way somewhat. The Dow and S&P500 as well as the Dax and FRA40 have had low correlations. Actually the Dax and S&P500 resemble each other more than they do the Dow. But this is something one can see on the charts in real time. The Dax pulling ahead on its own to make a high for the week leaving the Dow behind  (perhaps because upbeat information was due from China in 12 hours time). To my eye, the Dax visibly resembles the S&P500 more than the Dow for a couple of months.

But I am not going to dump the Dow in favour of the S&P500 because of a one day loss in the last twenty days.

OK I am probably done for the day so I will post.

I am looking at the S&P500 more than the Dow now.

 

SPX500Daily.jpg.9681ff7236df271db27fea9bf5b6f469.jpg

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On 07/07/2020 at 11:49, dmedin said:

Looks like we're got months of more-or-less sideways price action to look forward to, boys and girls.  Lots of false breakouts and money to be lost :) 

:)

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On 07/07/2020 at 11:49, dmedin said:

Looks like we're got months of more-or-less sideways price action to look forward to, boys and girls.  Lots of false breakouts and money to be lost :) 

:)

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