@Patterns Really enjoy seeing a new poster on here & one who is willing and brave enough to it seems:
1. Have a system that you are committed to
2. Be willing to share your thoughts.
This combination is unusual IMO.
For info I have been involved in TA for over a decade and I am first to say I have NEVER found a fool proof system. FWIW I rely on my own combo of TA involving:
1. Patterns recognition, (which really is just a sophisticated version of points 2 & 3 IMO)
2 Horizintal support & resistance
3. Trend lines (less so)
4. An absolute belief in RISK MANGAMENT (This has taken me years to fully accept & only last 2 years do I get a "sense of pleasure" when I sell a losing position because my risk has been exceeded, I have proved that the reason for entry was WRONG and I limit loss). Of course much more enjoyable when I hit sell after the REWARD level has been met.
5. A healthy dose of instinct.
So re your system I have a number of questions that you may be willing to answer. (& maybe not?)
1. Can you define why you believe "everything is either a dump and pump or pump and dump" ?
2. And what precisely you define as everything is either " a dump and pump or pump and dump"
3. "if price is moving down making lower lows and lower highs and suddenly we find higher highs on the inside then this is the start of the dump and pump setup." What timeframe are you talking her?
4. Can you explain what you men "The fun begins when weekly templates are introduced into the mix." and "The easiest money is made on Wednesdays and Fridays while learning the process and the hardest part is learning not to trade until a setup appears."
5. You say "AS far a Heiken Ashi goes I like it because it knocks out the gaps and it is easier to see trends because once we see a doji at the top or bottom" Do you always use H-A? (PS I am a big fan BUT fairly new to using it)
PS If you are willing to respond I am aware it might hijack the purpose of this thread and we could take discussion somewhere else??? I note that the XMD thread has been dormant for a few years & we could take the chat there? The XMD several years ago used to be used for sharing thoughts ????
Hope to hear your (& anyone elses) thoughts?
(20min delay)