Ok, so it's plain to see that the bearish price action I referred to earlier that I said I wanted to see is happening. It's not time to SHORT anything just yet. But it's starting to look that way. I'm still re-analyzing this thing from scratch to see if I can tell what the chart is telling me here but the price action is giving clues to a SHORT trade soon. Not now. Soon.
Here's that previous chart for comparison:
I also want to point out that the MAJOR SR Structure is NOT a price point or a specific line on the chart. It represents a ZONE or AREA of support/resistance! I think I've been around long enough to know that there's no such thing as a LINE of support/resistance, thank you very much to those that keep pointing that out to me! But it is useful to use a line to REPRESENT support and resistance.
But to the point, in fact, prices ENTERED the ZONE of resistance and came back out of it. It never broke above it so in effect, there wasn't a "break" of structure here. Just look at this DAILY chart and see. Don't mind the wave counts. That's my work in progress.
Yes - I think that abbreviations should be kept to a minimum. It only takes a few seconds more to type out a whole two words. Tha's not too long I hope.
EverythingForex
⋅
Sorry, but I use abbreviations not just because it's easier but also because it save typing space as the length of typing space TV allows in a post is limited. And since I have a habit of writing a lot (my teachers hated me for this back in school 'coz I always wrote too much and they would have a hard time grading my essays!) and always run into that darn character limit, I use abbreviations too much. I'll try to limit my use of them but I am trying to be thorough in explaining myself in my posts and I often assume that I am writing for somewhat knowledgeable traders and not complete novices. I guess I shouldn't assume that as my posts are meant more to help those that are in need of it most.
Captain_Walker
⋅
Thanks for acknowledging and acting on this.
As observed elsewhere: "One of the big problems new traders may experience is a communication gap between them and expert traders who teach, explain or share knowledge. Experts who train may find that their message is not getting through, because their language, methods and their speed are so far advanced. Expert traders need to be very sensitive and recollect what it was like to be a ‘novice’." newtrader.club/2015/10/10/skill-acquisition-and-training/
EverythingForex
⋅
MAJOR SR Structure = Major SUPPORT & RESISTANCE structures.
Jebanese
⋅
Thanks Sir for your PRICE ACTION lessons
Kadhijah
⋅
I'm sorry, what about the PA?
Thank you sir
EverythingForex
⋅
Are you asking me what does PA mean? PA = Price Action
Mian_Hidayatullah
⋅
Hay Sir , Kadhijah asking you about PA , So you tell him PA mean is Price Action , Okay So Now plz explain the second diagram where you drown some Trend Line & specify with some names like bearish PA , Bullish PA , Channel Break etc , So Why we used this kind of Trend Lines..??? Whats the benefit to study this kind of Trend lines...???
Thax A lot In advance , I am completely New In the field of Forex So If i mistakenly asking a wrong question from you so plz don`t mind.
Thank You
Kadhijah
⋅
uh price action, lol aha, please don't mind.
I'm sorry for looked silly here to look and follow your work.