In last week 4M class, I talked about this topic for students to consider “if you have only one bullet left, which trade would you choose?”
Students were asked to select one trade that they would take and send in their analysis for that trade.
It was interesting to see what they sent. But one thing that I observed: a high percentage of students sent in charts of all type of trades but little meeting the criteria that they were taught initially when they attended Tflow® course. *Surprised…
So I went back to basic and asked them to focus on using boxes and spotting strategies taught in Tflow® course – Big Move, WRMB, H4R, H4T. Note that, reason why I always encouraged students to attend Best Practice class (whether you are new or have graduated some time ago) is that BP class reminds and drills you with important concept that you should never forget in your analysis. Not only that, there are fixed steps for you to analyse and these steps are steps differentiating a winning versus losing trades.
Let me recap how to analyse AUDUSD (which was a trade that I sort of ‘forced’ students to look at during 4M class, in fact all AUD trades).
Big Picture planning
H4 boxes analysis using Big Move (BM) and WRMB
Therefore, during 4M on tue, we were looking for a short. On Thurs a short came in as a bearish expansion. On thurs, it also closed below many boxes high (marked red). On friday bearish expansion, it closed below many boxes support (marked blue)
If you apply boxes too, then it’s logical to see some support coming in at 9300-9320 and 9180-9120. Isn’t it?
And did you forget the basics taught to you already?
If you have, then it’s time for Best Practices class to drill in things that you have forgotten.
See you this thursday 14 Nov if you have not registered for Best Practice Class!!