What’s good guys…
So over this weekend guys, take the time to study the movement of XRP..
One of the images above were taken from the video that I uploaded to you guys called “Understanding Retail Traders”
Pull up all the confluences that occurred.
Highlight your entry zones,
Discuss the behavior of the EMAs…What were they doing whilst the move was developing?
This play by XRP is text book…
Study this move over the weekend.
Try and go back in time to see if you can find the same confluences that showed a move similar to XRP.
The purpose of this exercise is to help you understand how to project the behavior of the market makers.
Dive into the lower time frames and see if you can find confluences on the 5m 15m,
When considering an entry, add caution to caution.
This is a universal move ladies and gentlemen.
Go and look at Dollar Yen, I can guarantee you would see similar behavior.
Every day, try and do the exercise above. This will help you keep your mind refreshed and always factoring the idea that anything can happen.
This is one of the goals i have with the repetition i deliver in the streams.
Be ok with uncertainty…That way you do not become emotional when a surprise move happens.
Please send me your submissions to firstname.lastname@example.org…
Also, you have the MT4 backtesting software homework to do….
So please send me the same to the email also.
Then i will pull out the best submissions and will do a video and discuss each person’s decision-making process. Of course, i will keep things anonymous.
Will speak to you guys later.