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from one of the 95 people losing money, to the 5 traders who make profits consistently each month. Then I read about Elliotwave methology and it piques my curiosity, so I decided to try several different service provider at the beginning. Again, when drawing my support and resistance levels, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels. Unfortunately I was disappointed as these service didn't provide me any good market insight and I still continually failed. Allow for slightly higher high before the larger degree downtrend resumes. How I draw strong support and Resistance.
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EWF really transformed my mindset as a failed retail trader to a professional one. I have to admit that my starting point as a trader was pretty bad as I did all the beginner mistakes one can possibly do and received several margin calls on prior accounts. It has been on the back burner for a while and it remains a possible count to keep in mind. I am adding a Food For Thought section at the end of todays analysis. At this workshop, Jody will reveal her favorite setup that you can use immediately after the workshop. View Wave Counts Charts. Support and resistance system should only be used in a higher timeframe chart, like one hour and above. Before I call a level strong, the same level must met the following conditions. In fact, I was ready to quit from trading if it didn't work out. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage. Cable extended its advance as anticipated and so far its 3 pips away from reaching the cited target.
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