mp6140
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=======================================================Good. If you can call market direction..THAT IS THE MARKET KNOWLEDGE REQUIRED. Just use S+R for low risk entries.
like most things in life, there are those who agree and those who dont, but ive gotten more than a small number of newbs on this site to suddenly start making money by "watching" what price action does when faced with the LRC, demark trendlines, or even normal trendlines.
calling the market is kinda simple in that the "masters of the universe" will be moving the price IN THE OPPOSITE DIRECTION to where it will really go ----- since banks and brokers pretty much already KNOW what the news release will be (they have VERY large research depts, not to forget a "possible" mole somewhere good !) and once they KNOW then the news is already "priced in" Now, priced in means different things to different people, but to those WAY UP on top of the totem pole, it means taking the price to the H4 top resistance (or dropping it to H4 support) so the pros now have THE MOST ROOM TO MOVE THEIR PRICES !
if the news is going to be bad, they RUN UP the price to enable the most effective SHORTs available, and the opposite for good news --- theres more too it than that, how they move the "dumb money" around by their collective noses, but thats the "quick" version.
By watching what news is coming up, and watching price action from 2 days to 5 mins before the announcement, one KNOWS where the price is going --- have you ever watched BAD NEWS suddenly spike the price up, or even move it up more slowly --- THE REASON is the "smart money" didnt get the price high enough for their liking and now move it fully UP, so they can now short like Crazy !
thats how one "feels" and reads the marketplace, while the channels simply show how they move in a very visual manner !
then of course there are the zigzags, which correctly identify "waves" and offer grand places to take your fib measurements from !
takes a bit of time, but with experience and your head screwed on in the direction of learning whats happening, its far from impossible for normal humans to follow the action and actually be ahead of it !
now s+r for proper entries and exits --- MUST be an echo in here !
enjoy and trade well
mp