TG, EurUsd daily timeframe. As you can see clearly, the mighty Euro is already respecting my call at the 161.8% level. Of course it factors in that the 200-day is also right there. So all the more reason to watch for TP at the first sign of trouble in the short. If all goes well and she flies south after kissing the 200-day passionately like she is doing right NOW, then she's on her way to 261.8%. Dig? See the target at 1.0834? Hahahahaha, TG will you allow yourself to make this kind of dough? Yes you will.
dont die! i would like to meet you: i have thought like you when i started 25 years ago. take care and keep in touch
Keep eye on Daily and 1H in Euro because I've yet to see the elasticity of the 200-day fail too quick. Its like in the superman movie when Zod said to the fellow who kneeled before him, "nobody who led so many would kneel so quick" So this springboard type of effect can produce a rocket move north that will be huge on your 1H and esp. 5-min. So watch for these types of scenarios
I do mostly position/ long term investing... so I try to use the following to get better prices. I call it Situational Analysis. It's a combination of the following: - value, which assets are yielding better.. in my view equities are a no brainer at the moment. Stay away from bonds; - value, based on growth - QQQ has returned 12.75% per year since the day it was born.. do the math with a simple savings calculator, even if you earn only medium income, if you can set aside a reasonable percentage into the QQQs, you will reach millionaire status fairly quickly... much better approach than pissing away money in short term trading. - price action, typical W formation stuff, I have caught almost all of them for great entries since 2009. - price action combined with earning cycles; public sentiment (retail trader long short ratio, ongoing stories pushed by media, AAII sentiment, youtube like/dislike ratio, what not). Trading is like the ocean... you have these movements - the ocean current. this is predictable, so is the upward drift in the SPY and especially the QQQ... we are in early innings of a major technology revolution - AI, block chain, self driving cars, quantum computing, IoT.. - the tidal movement, this is also predictable... so is the earning cycle/seasonality in the market. - then there is the random ebb and flow, such as most of the random moves in the market. The market is NOT fractal... it has it's own natural rhythm.. news events unfold in a certain tempo that you can take advantage... it's meaningless to manually try to beat the algo robots unless you build a better algo.... otherwise, just take it easy and play the long game.
Pick your weaponry carefully. Technical, Fundamental, tape reading, star gazing, voodoo, whatever. When you're sitting on the right one for you, you'll feel it, know it is for you. That's the weapon you ride the horse with. That's where you start. It is only the beginning.
Of course a lot of people do long term. But it requires a lot more commitment financially and emotionally:not everybody can go bravely against the crowd. Technical analysis may be rubbish. But even rubbish has some value......and a lot of rubbish means even more value. i use a lot of rubbish in my trading and extract value from it,if you want to know how much check my journal
what is hog wash and what is technical analysis? technical analysis says that the market moves faster in one direction than the other.This is not hog wash it is common sense.