My Trading Plans by Sketching Price Action of EURUSD
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Thread: My Trading Plans by Sketching Price Action of EURUSD

  1. #1
    I found that when I draw on the chart by hand, it caused me to become more involved and much more accurate in being mindful of the fact of the price action.

    So that I'll be publishing my hand sketched price action with some notes and forming a plan to scalp when desired, and perhaps swing some of the position when I can.

    Let me know if you like this, find it helpful, or whatever. I figure I may as well post these sketches with notes and egies in case anyone may also use them.

    I focus mainly on EURUSD, sometimes GBPUSD, but I watch and sometimes trade USDJPY and EURJPY, watching them helps me shout short term with E/U.

    I'll give it a couple of days to check it out, whether it's discounted, I'll just keep it to myself. Happy trading.

  2. #2
    Quote Originally Posted by ;
    'm curious, and that I used to perform the following exercise myself. After all of the success of Livermore could be credited to him drawing charts by hand. Are you going to replie existing charts? Make your own? Will you draw candle sticks, ohlc bars, line charts, point and figure?
    Livermore, I did not know he did that. Maybe he needed to do that if they weren't printed anywhere? I'm sketching, so it's not accurate or scaled, it's a line, and only a sketch, but I realized it made me to spot more than only looking at screen. I'm short term so I feel an hourly and a 5m to zoom in. I did one last week, it's simple, simple, and a copy from what I see on my trading platform, not too cluttered, since I need to be fast enough to get thru the exercise and watch the market.

    I can do better than this but it's is the one that got me thinking about it.

    then I commented about the labels (a) (b) etc. also if I'm wrong people can comment

  3. #3
    I decided to place text on chart since I noticed when I scan threads with my eyes, especially when I do not have my glasses on, I concentrate on the picture charts and much less about the text, cluttered drawing, I will improve this finally

  4. #4
    This particular exercise, cluttered drawing of the price action, already assisted me today to see that these are smaller ranges, which means a wedge, a large one which will eventually come to a point at which time there will be a break, but probably some thoughts faking break(s) first, therefore needs to be quite quick and careful at that moment

  5. #5
    While I don't really like to own scalp break outs, I'd rather swing support areas, it is all there was at that moment, so that I did it. Tiny small pips of profits, but I had been lucky not to stop loss from it.

    About the psych side, I dealt real-time with a challenge to a psych difficulty I identified by watching the BBC documentary that I found again, after decades, it is seeing our psych issues and I realized that it definitely implemented to me!

    So with this in mind, I entered where I typically have a distaste for but it worked, so that's progress.

    I will go find that link to this thread and pop it in here. I'm out of nerve strength for now I think I need to stop for the day. GL happy trading.

  6. #6

  7. #7
    I have not sketched and published since I am still studying the man who did the research and wrote the article from the BBC documentary, fantastic stuff. Still watching market and scalping as usual.

    Looks like more term assistance short term resistance on EURUSD I am Searching for news events to reunite price back up to the range eventually

  8. #8
    Im interested, and I used to do the exercise .
    After all of the success of Livermore could be credited to him drawing charts by hand. Are you going to copy current charts? Make up your own? Are you going to draw cocktail sticks, ohlc bars, line charts, point and figure?

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