TradeVulture

You Don't Understand Progression, So Why Are You Trading?

FX:EURUSD   Euro Fx/U.S. Dollar
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I annotated some larger time frame legs to signify what progression looks like. Progression is the process which price moves from either a level of support gained/lost within it's respective legs. I didn't mark everything, but you should get the idea. If you can first identify the leg price is currently retracing, you know exactly where price will go. There is no guesswork. Since this chart is a monthly view, technically, each monthly candle would represent a leg in itself, where you would see progression of support levels being gained and lost (exhausted) on a smaller time frame. Once those levels are tested, progression through the legs continues, creating what you might call trend. I color coded a leg and a corresponding leg that was used for retracement, to exhaust leg starts. Until you understand legs and progression, you probably shouldn't be trading.
Until you understand that there's hundreds or thousands of ways to be profitable in the market ... you probably shouldn't judge on other trading systems ;)
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TradeVulture Nico.Muselle
There are systems (largely bullshit) and then there is true structure of how price moves. Progression is the only 'system' of how price moves and reacts.
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Just wondering ... are you here to learn or are you here to share your knowledge ... Or is it just to make fun of others ?
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TradeVulture Nico.Muselle
Not interested in making fun of anyone. I want to stimulate your mind because I once struggled just like many others. It's an ongoing learning process, and I still struggle understanding the progression from time to time.
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In that case .. why don't you share instead of bashing other systems ? I'm sure it would be much more appreciated by other members here, including me
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TradeVulture Nico.Muselle
I haven't mentioned any particular system. Price progression is not a system. It is the manner in which price progresses on the chart. Look at the chart I posted, I highlight one of the most important concepts there.
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I see your chart ... and it tells me that you don't know what you can expect to happen next .. only that for every action at some point there will be a similar reaction on the opposite side ... And that according to your price progression the EUR should go down now ... but your two yellow boxes which should align are both with price action going up ... if it would follow your price progression scheme it should go down, right ?
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TradeVulture Nico.Muselle
refer to this chart I made the other day
EURUSD: First Touch of Support Lost

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I don't know how that is different from my prediction, which is here a bat pattern in this case. Different technique, same result.
Only ... time will tell if it will respect that structure or not, 1.1530 is a decision point ... I'm not convinced as you are that we are going down.
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TradeVulture Nico.Muselle
If you see the chart, you can see that we pretty much tagged the daily support lost, and because it was a first touch, we got smacked. the bigger time frames still tells us that we need to test the leg start which is indicated in the purple box.
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Shunyi TradeVulture
Hi sir, I agree with the progression concept, but I just wonder why do you think this 1.146x level was a first touch, and we are back down, instead of a first test on the bigger time frame support lost at around 1.2x?
Thank you!
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TradeVulture Nico.Muselle
Also, those boxes are just to highlight what a leg looks like, and how it gets retraced.
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By the way, although this approach might work on the (very) long term and is thus more for investors than for traders, I hardly see it work on shorter time frames. Not everyone has the capital/patience to use and benefit from this imho.
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TradeVulture Nico.Muselle
progression happens on every timeframe. logically, it has to. the smaller timeframe levels must setup to progress through the bigger. This is why the bigger is always the most important, and the most significant.
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So why don't you teach us? I'd like to add to my knowledge base!
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TradeVulture EverythingForex
You will probably have to unlearn everything you've learned so far. You willing to do that?
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(In answer to your question) I don't use your progression analyst. I trade because I enjoy doing it and make good money doing it.
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