Okay,
now to the practice.
D1 AUDCAD:
H1:
So we should expect a retrace and then another push down to complete the h4 cycle, which is the first level in d1?
Thanks for working with me waza
Nick :hi:
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| Years too late but still interested https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=5914 |
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| Author: | waza [ Sun Oct 18, 2020 11:14 am ] |
| Post subject: | Years too late but still interested |
ok i'll post my chart and show you what i mean when levels are within levels. |
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| Author: | waza [ Sun Oct 18, 2020 11:17 am ] |
| Post subject: | Years too late but still interested |
as you can see level 2-4 has a 3 push level one inside it's 3rd push up. |
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| Author: | DerNick52 [ Sun Oct 18, 2020 11:40 am ] |
| Post subject: | Years too late but still interested |
This seems clear to me. I'm stumbling at things like this. I know that a fast retrace after a 3 push move happens, but I don't know how to identify if this move is part of a level or only a retrace. That's why my counting get's off. In the future it becomes clear, but in the moment where it happens it's very confusing. But I remembered, like you said, that a big part is to watch where price ranges. CJ pointed this out often like this. Nick :hi: |
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| Author: | DerNick52 [ Sun Oct 18, 2020 11:49 am ] |
| Post subject: | Years too late but still interested |
This how I look at this |
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| Author: | waza [ Sun Oct 18, 2020 11:55 am ] |
| Post subject: | Years too late but still interested |
i would say all that is in the 1st pick is for the highertime frame to get in sync with the move. they can't keep moving it that quick, so they do false breakouts and take it back to where it was with a retrace. this is to catch people out and get their stop losses etc. |
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| Author: | DerNick52 [ Sun Oct 18, 2020 12:17 pm ] |
| Post subject: | Years too late but still interested |
Okay, now to the practice. D1 AUDCAD: H1: So we should expect a retrace and then another push down to complete the h4 cycle, which is the first level in d1? Thanks for working with me waza Nick :hi: |
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| Author: | waza [ Sun Oct 18, 2020 3:05 pm ] |
| Post subject: | Years too late but still interested |
No Probs Nick glad CJ method is still going, but i'm not to sure you have the 1hour right, to me that looks like the 4hr chart you've done. |
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| Author: | waza [ Sun Oct 18, 2020 3:11 pm ] |
| Post subject: | Years too late but still interested |
ok i'll tell you what cj said to me about the 1 hour cycle and this might help you a little. it takes around 3-5 days for a cycle to complete for the 1hour. |
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| Author: | DerNick52 [ Sun Oct 18, 2020 3:38 pm ] |
| Post subject: | Years too late but still interested |
Ah, I've read about the 3-5 day cycle but didn't know that this is the h1 cycle. Around 3 weeks should be than the h4 cycle and around 10-12 weeks the d1 cycle I guess. Helps to clarify the counting  Nick :hi: |
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| Author: | waza [ Sun Oct 18, 2020 3:40 pm ] |
| Post subject: | Years too late but still interested |
yip correct. well if you look at the 15 min that's a day, i used to scalp on the 5 min with this method, but you can only look at a few charts as it's a bit too fast. |
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