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| CHFSGD H1 |
Pretty much stated everything I wanted to say in the journal entry. Again do notice how sharply and quickly price shot up the compressed down leg to the origin of the compression. This is because pro money has removed all the supply on the way down and there was no supply at all until the origin of the down move. As such there is nothing to stop price from shooting up. In fact there're a few other compression examples in the same chart, can you spot them? :) Compression has changed my trading, seriously it is such a powerful tool to have. There are some more points I want to add but I think I'll mention them in my monthly review post as they are stuff I've been thinking a lot about which deserve a post of its own.
Hi Myst,
ReplyDeleteCan you define some of the acronyms you use. I know they are probably from J16, but I and maybe others aren't familiar with them.
BUOB -
BEOB -
Also you seem to monitor a lot of cross pairs. I have never even heard of CHFSGD. Could you write a post about how you scan the charts or how many you follow on a regular basis.
Thanks
Hi you can refer to the James16 acronyms here: http://www.forexfactory.com/showthread.php?p=6571742#post6571742
ReplyDeleteDecided to create a separate post on how I monitor charts as I realized I was typing too much, do refer to it and hope it helps!
Thanks, that helps. From what I see the James16 is similar to RTM and AG except they use divergence. Is that the main difference?
ReplyDelete