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.