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Last modified by Drunk Monkey on 2022-12-28 09:56
From version 9.1
edited by Drunk Monkey
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edited by Drunk Monkey
on 2020-09-09 16:21
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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 +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 89  11*. Example marked out - daily GBPUSD Apr 7 2020 to July 27 2020:
90 90  [[image:Screenshot 2020-08-07 at 02.54.45.png]]
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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.
94 94  11. Weekly Highs & Lows
95 -11*. chart with the weekly and the monthly highs and lows marked out.
101 +11*. 4 hour chart with the weekly and the monthly highs and lows marked out.
96 96  [[image:Screenshot 2020-08-07 at 03.22.01.jpg]]
97 97  we are umore comments here
98 98  11*. We are using different colors to mark the highs and lows. (blue, high, red, low) as well as using different widths to differentiate between the monthly and the weekly points of interest
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102 102  11*. asdf
103 103  11. Session Highs & Lows
104 104  11. Notes:
111 +11*. Look at this chart here, 60m time frame, lows where the arrow is
112 +[[image:Screenshot 2020-08-07 at 03.50.09.jpg]]
113 +11*.
114 +11.
105 105  1. sdfgsdgf
106 106  
107 107  == {{id name="Part3"/}}Part 3 - How Would I Practice ==
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