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Now, 2 patterns of market behaviour happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
If price is NOT making a new low then it must be reversing from the low.
TRADING IS SIMPLE.
DO NOT MAKE IT COMPLICATED.
The nHL multimeter tells me when PRICE is making a new high or new low.
The gauge tell me where price is RELATIVE to the high/low.
And YES, I AM REPEATING MYSELF.
GOOD TRADING IS REPETITIVE - YOU DO THE SAME THING OVER AND OVER AND OVER AND...
Can you help answer these questions from other members on NexusFi?
What is the fascination some traders have with SQUIGGLY LINE indicators?
I see people spending a lot of time on them.
DON'T YOU REALIZE THEY ARE A MYTH?
SEE PRICE.
SEE PRICE MOVE.
SEE PRICE MOVE UP.
SEE PRICE MOVE DOWN.
THOSE ARE THE ONLY WAYS THAT PRICE MOVES.
SEE TIME.
WHAT TIME IS IT?
WHAT'S THE PRICE?
WHAT TIME IS IT NOW?
WHAT'S THE PRICE?
DID PRICE GO UP OR DOWN?
IT IS ALL RELATIVE!! WHAT DO YOU THINK A SQUIGGLY LINE INDICATOR IS GOING TO TELL YOU THAT YOUR EYES CAN'T TELL YOU? DO YOU BELIEVE THERE IS SOME MAGIC FORMULA THAT WILL ENABLE YOU TO SEE THE FUTURE?
Most things are a myth except for the high of the day....? If trend is a myth probably the high of the day is too. A high would be relative just like trend. New high over what time period. Is that the high of the session, last 12 hours, last 24 hours? Forex is a 24 hr market... Is a certain high time of the day more significant? Like 420? Using GMT, CMT, etc.
IS PRICE MAKING A NEW HIGH?
Ok I'll buy that. Good question. But relative to what?
TRO posts 291 posts, something like 15 posts/day, and I still don't understand what he wants to tell us.
Maybe it's because my english is no very good, and maybe because I should read carefully all these posts with my eyes more open.