wtg Higgs and never truer words - if it was easy like anything worthwhile it starts out looking impossible, then you start to set to grips with it, then it simply is up to you as to how high you set your goals. Impressed you put the effort in and came back to say so
LOL Higgs - impressed you put the effort in and now you got your reward. The pea soup clears slowly and returns several times as you add more TF's or indicators. But once you start to catch on the breakthrough process will continue -at the price of effort and an open mind - both of which you have proved you possess. On an aside, a friend of mine is a programmer and hopless discretionary trader. He spent a few month being mentored by Bill on indicator set-ups and wrote a programme that I have to work my butt off to beat.
sorry guys my ET has been playing up and I lost all the first post to Higgs. Went into ET to make sure it was not posted and sure enough it was not. So i dilligently retype another message and then find I've posted two Huh!
V Important pattern signal. Most traders can't trade the fine details so look for the patterns which are usually B/o's... this is different coz it's a clean target and reversal instead of B/o
Now that is interesting. Done a lot with EOD data over the years but only recently started testing intraday stuff. Encouraging to hear someone else has made it work.
thought I'd post this, you can file it away and return to it someday... 1st the simple bit - when I said the swings were easy to trade here's what I mean. Perfect structure. We can get an ATM downmove that is mush and can't be counter traded - this one can. 2nd the more advanced bit - the false break up (yellow arrows) is balanced with a similar reaction to the downside. This is cycle interference. If you learn Hurst Cycles you'll understand and not get caught out. The horizontal was drawn in realtime and my expectation was, and has been, down, down, down. Balance is something you need to learn to be an excellent pattern trader or you'll get faked out. Brian Millard's software is the best to learn how cycles relaay work but it's only EoD. Our friend using Sigma waves should have this perfectly balanced on either side if his trading bands if he can use 1 min charts
The main problem by big longer term players /big banks/ is now that at present time on daily price is hidden between common used moving averages /20,50,100 and 200/. If the price will climb over all of them this is change from congestyion/downtrend to clear bullish situation. Price is above averages = we are attacking. If you look than since the price sink in net of these averages all attempts climb on top were defended with ease. But on contrary we have down some support lines - therefore hesitation. Big players probably need clear situation between themselves where to push the Euro. We small just need follow the winning group. But we must not forget that primary target of both groups it get as much money as possible from small traders/investors. Therefore lot of fooling can be present right now. To go above 550 will be necessary gain a lot of momentum - break the barrier will be not that easy.