Another view.. Look the the places where u placed the two w.. Now imagine they are the bottom of a mega big w. how would u draw that mega w nowbanteka wrote:My second attempt in understanding this method.
This time in GPB/AUD
That would also explain the missing m at the top if u so wish as well
The trading timeframe matters a lot, how u trade a m15 vs a h4 is very different, so are the TP and SL targets. On a m15 u can have m and w all over the place, they may or may not enforce the higher timeframe moves. Even on higher timeframes, m or w can be planted to shake weak trades.
Those familiar with 10.x can stick to the h4, me I.m learning and mastering the m15. Reason being price will ding dong up and down. I dont see any particular reason to give back my 30pips just so that I can maybe earn 100pips later, this is because if they want to move price so much, it WILL retrace first before going that 100pips. When it retraces then I will reenter. If I miss that, well there's other ways to enter, 3 levels and 3 pushes, loads of opportunities to milk it later on.
For those familiar with trailing stop or jumping stop, doesn't this also explain why candlestick trailing stop works better MOST of the time
Trust me, once u understand these, all previous notions u have, s/r levels, pivots, moving averages, fibs will take on a new angle, u will understand how the fox uses them and them u can follow the fox as others becomes fox feed