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Last modified by Drunk Monkey on 2022-12-28 09:56
From version 12.1
edited by Drunk Monkey
on 2020-09-08 15:43
Change comment: Renamed from xwiki:Forex.The Inner Circle Trader.If-I-Could-Go-Back-and-Tell-Myself-What-I-Know-Now.WebHome
To version 13.2
edited by Drunk Monkey
on 2020-09-09 16:25
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1 -Forex.The Inner Circle Trader.WebHome
1 +Forex.The-Inner-Circle-Trader.WebHome
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84 84  you will lose trades - doesn't matter.  Focus on the re-occurring setups
85 85  
86 86  1. Where do steady setups form?  Focus first on the following because everything else is a distraction.  If you understand how prices flow around these various areas, you will always be able to find setups that will lead to profitable trading.
87 +\\There are 4 areas that we need to examine:
87 87  11. Monthly Highs & Lows
89 +11. Weekly Highs & Lows
90 +11. Daily Highs & Lows
91 +11. Session Highs & Lows
92 +1. In detail:
93 +\\The open/high/low/close for a period needs to be focused on.  
94 +11. Monthly Highs & Lows
88 88  11*. Look at the last 3 months - mark out the high and the low and then study how the market reacts around it.  Ignore standard support and resistance crap because that will lead to loss.
89 -11*. Example marked out - daily GBPUSD Apr 7 2020 to July 27 2020:
90 -[[image:Screenshot 2020-08-07 at 02.54.45.png]]
96 +11*. Example marked out - daily GBPUSD Apr 1 2020 to July 10 2020:
97 +[[image:02-hwis-01.png||alt="Screenshot 2020-08-07 at 02.54.45.png"]]
91 91  11*. What are you looking for?  Focus on price, the open, high, low and close of any interval.  The intervals are the monthly, weekly, daily, sessions
92 92  11*. Mark out the monthlies and extend it out into the future.
93 93  11*. What's happening and is happening as it reacts around that price level?  Is price heading for an old monthly high?  Low?  Where is it aiming?  Has it recently gone below an old low? and rallying up? If so, it's probably just ran stops.  If it ran sell stops, then it'll probably run for the old monthly highs.
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