A Simple Charting Technique

These days some individuals are inventing new terminologies and new concepts for the Price Action of things. But fortunately, most of these new ones still depend completely on the assumptions and tools of the Technical Analysis practise, though some are completely out of line. Nonetheless, as a discretionary trader, I like to keep this things simple and conventional too. Kindly, note that my Fundamental Analysis side of things I work the most to figure out how participants react to different market  developments, while my Technical Analysis practises remain crucial for the timing of price entries.


A way of Charting

This charting Strategy is primarily on Natural Price Action, but not on some secondary indicators which generate their data from price movements. This is not to say such indicators are bad, it's just that I believe in Price more than I believe in them, because price do not only precedes all certainly, it clearly shows on itself some natural indicators which are sufficient for quality decision making. Some of my clients might have noticed this from the way I mark my charts. 

First, with the consideration of historical key price levels, I choose the most decisive set amongst all the  potential trend lines, support lines and resistance lines to mark out some price patterns-  Triangle, Channel, Trend, Head and Shoulder, Double Top, Double bottom, Range, Wedge, Cups or others. The outcome of this is a fairly large area that is a make-up  of enough candlesticks which usually take some time to buildup- mostly 24 to 48hrs.As a result, I have a fairly large area to discover the relationship between the patterns, candlesticks, present and historical key prices. This does not only provides me with enough indicators to support my predictions of a price direction, also it provides a fairly large area for my potential target price. In other words,  I maintain some degree of certainty while I ride a long price move.
 
.           Some Primary Predictors

 Furthermore, I do Candlesticks Analysis fractionally and broadly to measure the likely direction that price may take from within an identified pattern. This can help to guess the momentum of price direction even for an insignificant price move- as small as a one Candle Stick price move. I do this, because it is important that I have a Fractional predictor (Candle Stick) to support the revelations of a Primary predictor (pattern) while I investigate  for a prevailing bias. In other words, I use an identified pattern to cover its fairly large area and do a candle stick analysis within this space fractionally to conclude on a bias. Both biases add up to give a resultant bias for the direction of price; I just must be able to know what direction price wants to take before I find an entry price.

               Some Fractional Predictors


In summary, we can clearly say I start my anticipation of possible price movements when prices are within a pattern or are on the verge of forming one.The result is astounding when I consider my candle stick formation and historical price levels.Simply, this can help you break the Bank Of England again like a George Soros have done, trust me.


Want me to be your Mentor? Call  +2347067408224, +2348180811029

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