Support and Resistance

 Need to take note on Support and Resistance

1. Find 2 points same level floor  and 3 points same level roof or

Vice versa. (common on diagonal)

2. Look on Daily to identify Maximum level
   Loof for same bar level
   4 hours same bar not the tip

          1 hr tip  ( identify the thickness)

Structuring

https://www.youtube.com/watch?v=3Geg64pmED4&t=232s

Thickness of support and Ressitance

https://www.youtube.com/watch?v=_G3saHpvpKo

Backbone of my analysis (support and Resistance) 

part1
https://www.youtube.com/watch?v=w_NumAJKdeE
Part 2
https://www.youtube.com/watch?v=Fmzd9Bu9CWs

Why patterns fail (talk about support and resistance)

https://www.youtube.com/watch?v=w51Mst-xPlg

Requirements of ABCD pattern (talking about the importance of support and resistance)

https://www.youtube.com/watch?v=Mu0boUX033U&t=194s

Double tap (anything that reject on the area of thickness)

https://www.youtube.com/watch?v=hatuVzpifB4

Motivational video

Dont quit
https://www.youtube.com/watch?v=n7i9uHtd56U
Hardest skill
https://www.youtube.com/watch?v=WM4SftLsuDQ

I fail many times
https://www.youtube.com/watch?v=hvOdnNSuZD0

Pls answer the following (lets talk about this on next meet up)
1. Why need to identify High and higher high or Low and lower low

2. How to avoid false break out. Or how to identify false break out

3. Why is it possible you will be able to identify the area price of the market

In identifying support and Resistance pls do not use any indicator (must)
Watch first all the video before making the exercises

 

1st Exercise Daily time frame
Eur usd aug 14 2018  to dec 5 2019
Plot major support and resistance (daily only)
Both horizontal and vertical

Requirements
1. Different collor for 1 day horizontal line

2. Different color for 1 day vertical line

3. Print screen it and submit

4. No use of indicator

2nd Exercise Eur usd Jan 10 2019 to march 8 2019
Plot and identify support and resistance horizontal and diag

Thickness of resistance plot it

(Question)
what causes false break out on march 08, 2019

Requirements
1. Different collor for 1 day horizontal line

2. Different color for 1 day vertical line

3. Print screen it and submit

4. No use of indicator

Follow up exercise will be given after plotting the 2 given exercise

Trading is Boring

withdrawal and the problem I encounter

Turtle Trading On Boost

The approach  is focus on Risk and Exposure and the Goal for the week and month

Weekly goal is 10% of capital per week or 20% of capital per month..
in which if ever I had profited more than 10% last week my capital base is only the capital plus 10%

Example

Capital $100 profited $20 on that week so total of $120
Since my goal is only 10% gain per week so my book keeping ledger will only be $110 Dollars which the other $10 will be used to boost next week trade giving higher percentage to move around the trading...

benefit on this is
1. to make room of adjustment and create scalping trading.
2. Maximize trade size without compromising the goal percentage
3. Increment fully
4. easily obtain  weekly goal
and many more

Turtle trading On boost.

for the current trade since i do have extra $10 from last week trade i manage to increment it by scalping and currently i do have $17 extra which im going to use this money to increase my trade size on the Plan i have made which is the head and shoulder... This extra will give extra pips for risk or extra trade size it depends on the formation of the market.

thus if by any reason market wont allow us to trade I already manage to earn 7% goal leaving another 3% until the end of this week.

Easy way to Spot Head and Shoulder Pattern

Using Candle Stick Pattern in 1 Day time Frame you can easily spot Head and Shoulders in lower time frame

Requirements
1. Able to find Support and Resistance on 1 Day time frame

Candle stick pattern that you are looking is this

Make sure you can I identify the  Support and Resistance

By just looking at 1 day time frame the potential of finding
1. Pattern (head and shoulders)
2. Divergent
3 Consolidations

can be identified on lower time frame (1hr and 4hrs)

watch of the Youtube videos for more of this tips
(video uploaded soon)

Trust Your System

Hoy Uling you have 3 years of supporting document regarding you claim HEAD AND SHOULDERS untill now kabado ka pa rin Juice colored ka talaga

Trust the System  
by doin that you already win even if you have loose trades 

On my previous post I have created analysis regarding Gold which i based it on the oversupply of OIl
My analysis is simply going down with 400Pips (what i mention on the video) ... gues what here is what it look like after the weeks trade

A whole week of trade considered to be Swing trade. I manage to get my weekly goal which is the 10% of my Capital (220 Pips total) . what i did didnt get is whole amount of what i should get which is around 350Pips traded with 10 cents trade size i should have created 35 dollars thats almost 180% of my weekly goal.

by the way here is the link of the analysis video created 3day ago 

Will the oversupply of Oil affect Gold and Silver?

Journal April 13 - 17

Problem with Consistency??? you manage to boost your account 100% however on the next trade you lost more than you boosted??

The solution for that is Journal..
Why??

how can you assess your way of trading if you dont have data to look at.? Through journal you will be aware on what to do for the next week trade or next day trade. ON my experience trading without journal I always repeat the mortal sins of trading

1. Over trading
2. Trading without Plan
3. Trade Size.  and etc

below are the example of Journal that you might want to pattern



comment Below to so that i could give you the spreadsheet of this journal