ledges are areas where there is at the moment a 2876 bid that 's been continually hit and held,won't last so a break of it is a short,works differently once you are using longer timeframes than a day,so in short you watch those three things(nip,cleave, and ledge) to get long,short, target the next price and aim for it,watch these as keys to what comes next...the widest nip ,where the most trades took place holds the most respect(that white rectangle denoted on the chart....watch em for awhile and come up with your own analysis is the best way to learn it,but having 3 things to concentrate on shortens the analysis conundrum
Should also throw in its been doing a rather lovely lower low and higher low pattern the past couple of weeks.. Im currently sitting short looking for either a retest wave or a lower low again I liked the analysis ammo.. never heard of it worded that way, I never really got into all the indicators etc.. just some tick charts and line drawings
it made this bell curve and is now working back down..couldn't get into all the abbreviations either so use obvious easy terms
Very interesting chart analysis where do I go first to learn more about it? Is it your own analysis? I've never seen anything like it before this.
No choice but take the change I can't set decent stops yet (I don't know where to put them), I was tired needed sleep.