Especially appropriate in today’s climate: How to determine market clarity?

Determining the clarity of a pair’s price movement before setting up a trade is key to reliable support and resistance reactions as well as the first step to pair, time frame, and ultimately entry strategy selection.

In this video I walk you through how I do with with the daily chart offering me insight into Directional Bias and then fine tune what I see with the GRaB candles, 34EMA Wave, and the way in which the 34EMA Wave is moving.

Questions? Comments. Please leave ’em here for me at the Chartology blog! I will be happy to answer them personally.

– The Queen

  • SwordOfManagement

    Just my 2 cents:

    The easiest way to tell which way the market is moving is to ask if price is generally closing higher or lower than ‘something’. Pull out your rectangle tool, size it to 10-12 pips and place the top of the box where you see price generally closing above it; as long as price is closing higher than the box then price is probably not moving lower. This is known as drawing a ‘line in the sand’ as price can only cont. to move higher or lower than ‘something’ defined. Once you know which way price will likely travel then it is simply a matter of finding good stop placement and taking an option traders perspective to an outright positions: 1) limit risk, 2) maximum profit potential at expiration (the close of the long term range), 3) adjust break even points as necessary (position size up/down). -Let the chart fade into the background and just focus on maximizing your lot size. If price reverses and is generally closing lower than ‘something’ then reduce your lot size to drive back your B.E. point/position/stop.

  • Chris Laski

    Queen,

    Wow! you have a great teaching style. gobbling up your messages on Youtube. I have been on it four hours a day. obsessed. I wanna be good. your the real deal. I know that. Thats one thing I can spot. rignt now no one else really interests me. Nice resume as well. Maybe in 50 years I can be like you. this isn’t little league. everyone doesnt get a trophy. so I doubt it. Its all free too. I don’t quite understand why its free but thank you! I Sorry about the spellng errors but I gotta hit youtube.