Diagram practice article.

BINOTRADER

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21 Feb 2021
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This article will be a follow-up article.
We can talk about appearances of formations but also suggestions of movements in them.
I will upload a set of formations and you can watch them through it ΙNVESTING.COM and study them but also express opinions.
You can give those you deal with and your own formations to watch.
 
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BINOTRADER

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21 Feb 2021
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THEO-007
JPG.jpg
 
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BINOTRADER

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21 Feb 2021
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THEO-007
Some professors of the genre say that when we have an upward formation when the price comes out of the channel it will always be with the trend.
I had to eat my face several times to reject this paparazzi.
From anywhere the channel is broken, just a confirmation candle and a command with a stop loss and that's it.
Take a look here.
I have a profitable transaction because I do not always listen to what is taught but I observe myself.

JPG.jpg
 

BINOTRADER

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21 Feb 2021
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Yesterday we had a discussion about the chart below.

JPG.jpg


There was a claim that in the diagram we have the head-shoulder formation in the circle.

JPG.jpg

Is the formation correct though ... ?????
Is it an optical illusion or otherwise a false formation .... ????
 
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BINOTRADER

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21 Feb 2021
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JPG.jpg


These are the characteristics of the formation that exist in an article in here.
The first 4 checks we are absolutely interested in and I personally do not use the filter at all, of course others can use it freely.
The third check is the key here, that is, "the neckline should have a downward course for us".
The person in charge of writing the article has written the same instead of writing the other way around.
This is to get a taste that if the mind does not work do something better.
In the diagram below, the course of the neck tension line is upward.
So it does not confirm formation.

JPG.jpg

Besides, this fly is not even considered a trend line.
 
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BINOTRADER

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Take good care now ..
Our chart is on time schedule.
We are transferred to a 4-hour schedule, ie a click to reduce and compare the plans.

JPG.jpg


We automatically see that the original hourly head-shoulder formation is knocked down but a new head-shoulder formation appears.

JPG.jpg


The neck tension line is down.
We see the two shoulders in the red circles and the head in the circle with the X.
Now we are sure that the head is raw and we enter with an ascending command since we are very sure that the price will rise sharply.
So we enter with a command at the breaking point of the trend line and we come out victorious up to a point.
So we believe that the price will reach an upward level to the green level.
So we leave the order free to win happy for a great profit transaction since we are already winning.
We are so sure that we will leave it uncovered without stop loss and we will see it again after 1-2 weeks.
 
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BINOTRADER

Active Member
21 Feb 2021
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THEO-007
You know something dear friends.
The biggest mistake was made and you know what it was.
That we examined the 4-hour chart, that is, from the hourly rate we went only one click above but we did not examine two clicks more, which is the right thing to do, that is, to go to the daily schedule.
We left the order alone and we enter after several days to happily close the order and take our profits.
And miraculously.
We see the following drawing where the green line is where we wanted the price to go and in the circle is the head-shoulder formation.
JPG.jpg

The fatal mistake was made and it was that we did not look at the daily schedule but we looked at the 4 o'clock.
Instead of using 2 click reduction we used only one click.
Above you see the daily chart that firmly confirms that the raw head formation we found was wrong, commonly it was a pseudo-formation.
So the price has gone downhill and we have lost the world's money.
and the advice is one that very few will tell you because we said they want you to lose in order to sell signals.

WE ALWAYS LOOK AT TWO DIAGRAM OVER WHAT WE ARE THE SHAPING WE DISCOVERED

BE SURE THAT IT IS NOT A FORMATION IN SUCH A LOW SCHEDULE BUT MAYBE THE BEGINNING OF A FORMATION

Large formations are missing from the hourly chart below.
Especially the watch is worth only for application of tools and is a trap for finding formations.
The best schedules for formations are the 4 hour and the daily.
The rest are words of the air taught by the great professors of forex.
Vangelaki, if you had gotten there, you would have been left with the lining of your pants only .... hahahaha.

GOOD MORNING
 
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vaggosalonika

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20 Oct 2019
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hahaha you forgot to say that I would be more in if you count the money from the subscription I would give for courses etc ..., Well I read the article I want to say the following briefly what I saw that looked like an upside down head and shoulders was wrong because the neckline had an upward trend correctly; on an upside-down head with shoulders the neckline should be down correctly;
 

vaggosalonika

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you said pseudo-formation, that is, in the daily routine you did not show yourself for a head with shoulders again;
 

BINOTRADER

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21 Feb 2021
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THEO-007
Absolutely no relationship. There is no suspicion of head-shoulders. Formations always come out at the highest or lowest point of the big schedules.
 

vaggosalonika

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20 Oct 2019
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Nor what you put is head shoulders. There is an article with examples of formations in here. Not in.
the arrow I put is not head and shoulders I just wanted to say what you said IF it was head with shoulders it had to be at that point right? why did you say "Formations always come out at the highest or lowest point of the big schedules." so the lowest here is the arrow I put
 

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