My Skype name was registered, but inactive, but is now all good: 'greatwest1 ' is online.
Answers to the one question about a chart is: The items highlighted are all indicators:
Fibonacci extension, retracement, moving average line, and a Donchian channel .
What account balance did you suggest one start out with? I remember you said you expected
traders to make a trade when you suggest to trade ' CL ' .
I did not see any other quiz, sorry if I missed it.
The following user says Thank You to Greatwest1 for this post:
You have highlighted places on the chart where price had a higher probability of reversing.
The five things are:
The first small oval circles the huge bear bar which was likely climactic exhaustion.
The last possible traders sold, either dumping their losing long position in frustration, or new traders jumped in to short the market in the fear of missing the short move.
Both were holding losing opinions the moment the market printed a bullish bar and an opportunity to go long presented itself to go long when another bullish bar took out the high of the earlier bullish bar, though it was longing into resistance of the previous move.
The second oval is on a squiggly line on the chart.
The squiggly lines mean much less to me rather than what you are trying to pinpoint and hence is invaluable.
Price was clearly in a trading range at this point and the pinbar that followed the huge bear bar which probably had taken out all the stops of those long at the earlier oval, signaled a good opportunity to go long again!
The biggest oval marks distribution - it was a good place to look for short opportunities after two pinbars were printed and then a lower high made price to sell of rapidly. However though the oval was a good place to go short as the earlier bars lows were taken out, the end of the bear bar (last bar inside oval) was NOT a good short because waiting for a retest of the bull trend was the best thing to do at that point - the ABC move completed this requirement and the retest of the high of the range was a good place to go short confidently.
The Fibonacci extension oval - is something I don't like. However it again coincides with the other end of the trading range and is a good price level to take profits on any shorts.
The last oval marks the end of the two legged down move that reached the price level where your profit target should be and would have got you flat.
As a trader I understand that humility, above all, is the rock solid base of all virtues. I have no reason to hide behind PMs when getting mentored so posting this - also it was looking silly without the chart!
Eklavya sincerely sought the mentorship of Drona for learning the use of weapons and martial art. But Drona discouraged him from this aim and ultimately rejected Eklavya on account of his caste. However, out of respect for Drona, Eklavya embarked upon a program of self-study, using a clay image of Drona as his inspiration. Eventually, Eklavya achieves a level of skill superior to that of Arjun, who was Drona's favorite and most accomplished student (but belonging to the Royal Family of the Pandavas). The Pandavas come across the boy in the forest one day, and Eklavya tells them about himself and his deep regard for Guru Drona. In a shrewd move, Drona demands that Eklavya cut off his right thumb as a gift to his "teacher" (in Indian culture, a teacher's request cannot be denied). This would preclude Eklavya from being as skilled or even better than Arjun. Since Eklavya always trusted and respected Drona as his mentor, he agrees to the demand without hesitation, and sheers off his right thumb with his own weapon.
I probably crawled out of my mess and started my real journey when gary kicked my ass here: