Can Banks Still Be Trusted?
For this purpose, the author recommends to study the problems unsolved by the “the classicists of Forex” – such as D. Murphy, T. DeMark, D. Swagger, E. Neiman, etc. (see the previous chapters). Below the author enumerates the problems concerning the slanted channel technique, unexplained by “classicists of Forex”. In addition, the author demonstrates how these problems are solved within Masterforex-V Trading System. The first difference between the approaches of “Forex classicists” and Masterforex-V Trading System to the slanted channel technique consists in applying different timeframes. In Masterforex-V Trading System, it is recommended to work within the timeframes to start from M1 and up to W1. This approach permits us to settle down certain contradiction.
The latter is mentioned by E. Neiman. According to this specialist, trend lines and models examined in various timeframes can differ. For instance, the weekly trade can look as the “bull’s one. At the same time, the daily trend can be regarded as “bear”. In addition, the author of this book would like to emphasize the following. Within H4-chart timeframe a flat can occur. Within H1-chart timeframe, a trend is possible – and so on – up to M1. Thus, the reader must understand that there exits a certain correlation between trends of different kinds (within M1¸W1). An individual who works within the only timeframe does lose his game for sure. As it had happened before, at least 19 of 20 traders had lost their money. Such traders had confidence in basic plots of Forex – in D1, or H1, or M1.