You see that bearish hammer, move that line to its close instead of its low, then reanalyze. You shall get a valid head and shoulder

Cheers

Eryyy92:
Is this a valid head and shoulder?

GabsonFX:
You see that bearish hammer, move that line to its close instead of its low, then reanalyze. You shall get a valid head and shoulder

Cheers

Eryyy92:
It's printed on a resistance zone

GabsonFX:
Having this valid pattern is now different from your 1st picture, because the previous could be wrongly analyzed.
Now, you see that the presumably tested resistance has not actually been tested in the new head and shoulder. You would have thought of shorting from the Resistance in your previous picture whereas I would have waited on my end here.

Thus, a valid head and shoulder does not equate a valid entry - you have to carefully analyze

GabsonFX:
Having this valid pattern is now different from your 1st picture, because the previous could be wrongly analyzed.
Now, you see that the presumably tested resistance has not actually been tested in the new head and shoulder. You would have thought of shorting from the Resistance in your previous picture whereas I would have waited on my end here.

Thus, a valid head and shoulder does not equate a valid entry - you have to carefully analyze

Let me repeat the same message I was passing across the time you asked me.

Resistance and support levels are not actual lines or prices but zones between the close and lows or close and highs. it is always better to start by using a channel to denote the zone and not just lines. If after you master using the channel, then you can comfortably use lines only like I do.

There are situations where the guy could be right drawing it the way he drew it, and for sure, I would also have drawn it that same way in some situations; but to avoid stress, just use a channel. Again, resistance and support levels are not lines but channels.

Theyoungmaster:

Kpk! so in other words, you take Your zones of importance (say support and resistance) from the close and not the highs and lows?

I remember asking you the same question months ago but you didn't give me a straight answer. I don catch you today. lol

GabsonFX:
Having this valid pattern is now different from your 1st picture, because the previous could be wrongly analyzed.
Now, you see that the presumably tested resistance has not actually been tested in the new head and shoulder. You would have thought of shorting from the resistance in your previous picture whereas I would have waited on my end here.

Thus, a valid head and shoulder does not equate a valid entry - you have to carefully analyze

GabsonFX:
You see that bearish hammer, move that line to its close instead of its low, then reanalyze. You shall get a valid head and shoulder

Cheers

Kaesyrn:


New Week...✅✅

New Month...✅✅

Catching pips...

Not feelings... ❌❌❌

GBPUSD Should comfortably move up to 100 pips today

Took 50 from London session gonna take 50 from NYSE

GabsonFX:


Let me repeat the same message I was passing across the time you asked me.

Resistance and support levels are not actual lines or prices but zones between the close and lows or close and highs. it is always better to start by using a channel to denote the zone and not just lines. If after you master using the channel, then you can comfortably use lines only like I do.


There are situations where the guy could be right drawing it the way he drew it, and for sure, I would also have drawn it that same way in some situations; but to avoid stress, just use a channel. Again, resistance and support levels are not lines but channels.

GabsonFX:


Let me repeat the same message I was passing across the time you asked me.

Resistance and support levels are not actual lines or prices but zones between the close and lows or close and highs. it is always better to start by using a channel to denote the zone and not just lines. If after you master using the channel, then you can comfortably use lines only like I do.

There are situations where the guy could be right drawing it the way he drew it, and for sure, I would also have drawn it that same way in some situations; but to avoid stress, just use a channel. Again, resistance and support levels are not lines but channels.

NetValueFX:
infofirst
Where is the login details to be sent? I have asked this last week and you didn't reply.

Theyoungmaster:
My view on DXY this week.

klinksd:


Just PM @infofirst via Nairaland. He was a little busy in "za oza {other} room", but he is done, I just saw my own reply some minutes back.

NetValueFX:

I tried sending him a message but it seems it was via mail.
I don't think nairaland has PM. Haven't used such function before.

klinksd:


Lol...it does. Go to his profile and click on " Send E-mail message to infofirst "

A model message that is uneditable will load on the next page....just click on " Send E-mail ".

He will see it as an email and reply through the e-mail address you registered on Nairaland. Reply him through that path...that's all.....

NetValueFX:

I have done that already but no reply from him. I don't consider that a PM when compared to what PM is right from 2010.

Kaesyrn:
15 Pips SL for 50 Pips TP...

Shorting GBPUSD in London session....

30 Pips gotten 20 more to go...

BREAK IN MARKET STRUCTURE (BMS)

Took just 40 Pips...

We muevvve at NYSE

CopyJoe:
Is the peak loss also drawdown?

infofirst:



Yes

Elliotwaveforec:


Good job!

CopyJoe:


Thank you, boss. It means I need to work more on my drawdowns.

Theyoungmaster:


One leg down has been printed.

Scenario 1; I'd be expecting a bump to test today's high and subsequently the 91.42 zone before a dump to last week's low at 90.31
Scenario 2; Break of 91.42 exposes further gains to the upside

Elliotwaveforec:
@infofirst, the peak loss isn't the true measure of DD. Example, 1,000 capital; profit of 100; equity 1100; I now lose 165 which is peak loss of 15% with a balance 935.

I now struggled and build the balance up above 1200. Do you know that the initial peak loss 15% would be erased?

That's what happened in the last contest. Think about it.

Advice: Just use the initial 1K as the basis for calculating DD. Simple.

infofirst:



It is not always erased and the initial 1k has always been the basis. Check the rules again. The only issue is when you experience the losses and the account is not sync