What is Best Practice?
Best Practice is a support class held in the evenings which consists of a cycle of 4 classes each focusing on a single strategy, Big Move, WRMB, H4R & H4T.
The aim of Best Practice is to allow students a systematic process of analysis and kept repeating Best Practices in trading till it sinks into us
In this article, I will illustrate a Big Move strategy and how it can be use for your analysis.
How to identify & use Big Move strategy?
Using the recent WTI chart, let’s see if we are able to identify the strategy and how it can help our analysis.
- Looking at the boxes, its a Down Trend, so we know we’re looking for a trade to Sell
- Price went through a period of consolidation for 3 weeks. Suspect a possible BigMove setup coming
- In week 43, there was a Bearish Expansion that closed below all these boxes. This confirms and fits the criteria of a BigMove
- Looking for 1234 becomes easier as you know exactly what and where to look for it
Checking on the Big Picture
On the higher timeframe, we can see that this trade is line with the big picture
Using the Best Practice steps help simplify analysis process for clearer decision making.
Our next Best Practice class held on 14th Nov 2013. We will be looking for Big Moves trades in the class!
Last time, many things that I wanted were just dreams, now I see them as possibilities. I’m looking forward to own pent-house suite in Manhattan overlooking Central Park because forex trading with Tflow® makes it possible. Find me on Google+