Bobby's Homework Assignment3.28.23 The whole video Deals with one chart on gold . There are two horizontal lines and one ABCD pattern.I spent the whole video on analyzing market behavior for yesterday and for today even though we still have a lot more time left today. It's very important to understand the thinking behind the market dynamics as I would call it Looking at support and resistance and the Dynamics of market action when the bars change direction . There are rules for how you should deal when bars change direction... and how this changes your opinion about the market when you thinking terms of buying gaps and selling gaps. If the terminology Is unclear to you , then look at the video and slow down the video and think about it... and then you can call it anything you want. When I get to the part when I say you have to think in terms of what the market does, And also what it doesn't do... and that this is critical to your thinking.... stop the video and think about it and then call it anything you want..... use your own vocabulary but understand the premise so that when you're actively looking at a market you will take into account the Dynamics which are very easy to see on this chart.... and then work with it to develop your sense of comfort..... and it may take some time, But if you actually do this homework... you may have a lot of questions, But if you actually persist you have a strong chance of developing your ability to read the market and make money from trading. I know this is not the end all and guarantee..... but I would bet that most beginning Traders and Traders with a lot of screen time Are completely in the dark about what markets are doing much of the time... and I would guess that if they were pressed in real time to make a decision about the market, They would have nothing particular to say and in effect have no opinion or An incorrect bias because they Are not focused on certain Dynamics about the market... they may be focused on something that's more emotional... as opposed to Dynamics Based on the chart itself. Some of this you'll have to decide on Your own... as there's always A chance that you will have some decisions that are more biased and less objective than you would like them to be.... this is Trading. It is not an accident that I talked about a hypothetical when I was looking at the ABCD pattern and I gave you an example of how the market might have changed my opinion on one bar.... this did not happen.... and the graphics weren't that clear because it was a hypothetical that never happened and I didn't have time to make it clear on a short video.... go back and listen to it and put that piece of information into your mind and just think about it because the markets can always give you information that will cast doubt and may influence trade decisions and this is important to acknowledge. Generally. I tend to avoid the very small time frames because they generate more trades, more losses, More lost opportunity and more stress... in general for me... and I'm guessing the same is true for many Traders. Study the video.
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