PICKING TOPS & BOTTOMS (PART A)
Read this section carefully as the skill presented here is crucial for most of the
scalping techniques that will be presented later.
Take a few moments looking at the following chart. Look at the
characteristics of the tops & bottoms of the waves.
When you will finish reading this section you'll have the understanding
needed to be able to "pick" the tops and bottoms of waves like you see
above. What this means is that on the chart example above you would have
been able to capitalize on virtually all the pips that the market went up. You
could have entered at about 1.2130 and rode most (if not all) of the moves
having a final exit at about 1.2185 (55 pips). Even more amazing is that you
could have captured even more pips than that because you would have sold
near the tops and re-entered near the bottoms thus gaining twice through some
of the same prices.
Would knowing how to do what was stated above be of any interest to
you??? It is not magical, but simply a skill that you can cultivate!
I've spent some time pondering how I can teach this subject to you. I've
come to the conclusion that this is a difficult subject to convey to you but I'll
do the best that I can. I have also realized that there are two specific
challenges in being able to teach this to you but have also come up with a
solution to each.
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