NZDUSD Long Trading The Repeated Market
Hey Guys,
When people say history repeats itself in the market..
All they mean is that when people buy before they buy again.
That is simply what makes money. Buying at preferred cheap prices and selling them at preferred higher ones (hence visual price rejection).
As I often say in my posts, if you don't believe me, all you need to do is open practically any chart on any timeframe and just scroll through. You will notice things occur and then re-occur various times throughout the days months and years.
This is why price action rules and is king. It's just because its the only REAL visual way you can see what is going on. You can of course read about market news and sentiment via things like COT reports, but looking simply at a chart is so much easier.
Think of it as an indicator in itself. Normally, indicators are built off algorithms and collections of data and then represented via a line or some kind of illustration / drawing / gauge on your screen. Price, really, is no different. It is built of the same price data, only it is displayed as ONE CANDLE.
If you use an MA / Stoch / RSI you are normally visualising a range of data over time, rather than a singular one i.e. a high on a daily candle or a low on a 1HR candle. This one piece of data can be far more valuable than a series of candles put together over a sustained period of time (50/100/200MA).
So to ignore Price Action is very, very unwise and it will sting badly.
Trade LIGHT as we may further DCA on further falls if they occur.
When people say history repeats itself in the market..
All they mean is that when people buy before they buy again.
That is simply what makes money. Buying at preferred cheap prices and selling them at preferred higher ones (hence visual price rejection).
As I often say in my posts, if you don't believe me, all you need to do is open practically any chart on any timeframe and just scroll through. You will notice things occur and then re-occur various times throughout the days months and years.
This is why price action rules and is king. It's just because its the only REAL visual way you can see what is going on. You can of course read about market news and sentiment via things like COT reports, but looking simply at a chart is so much easier.
Think of it as an indicator in itself. Normally, indicators are built off algorithms and collections of data and then represented via a line or some kind of illustration / drawing / gauge on your screen. Price, really, is no different. It is built of the same price data, only it is displayed as ONE CANDLE.
If you use an MA / Stoch / RSI you are normally visualising a range of data over time, rather than a singular one i.e. a high on a daily candle or a low on a 1HR candle. This one piece of data can be far more valuable than a series of candles put together over a sustained period of time (50/100/200MA).
So to ignore Price Action is very, very unwise and it will sting badly.
Trade LIGHT as we may further DCA on further falls if they occur.
Note
Entered long semi light.Note
Maintaining position. Will look to lock in gains IF and WHEN impulse.Note
Still Long.Note
Eyes on RBNZ in a few HRS. Definitely a good time to be around to manage entries and exits.Note
Maintaining longs.Note
Further maintaining ^Note
Into Monday; Further DCA on fall, or continued hold.Note
Still maintaining long bias.Note
Still DCAing also.Note
Long entries applicable.Note
exited Prev longs higher, Light longs appropriate with major under PREV low at next key Support (M)
Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.