Thanks. I have a free trial trading view at the moment, so I can see it. I hope you'll talk about POC again in future posts.
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Thanks. I have a free trial trading view at the moment, so I can see it. I hope you'll talk about POC again in future posts.
Perhaps this could be a way to get me posting regularly again. I do really enjoy talking about this stuff but fear that much of what I say needs an explanation. Like CC for example. Did you understand what I meant by that? It is the 'Champions Channel' between 0.66 and 0.618 on a standard fib retracement where one can consistently see price changing direction. It is probably the most important tool in our box. This and volume. Hence the need to watch out for untapped or naked POCs, which are always marked on my chart as nPOC.
By the way, if you currently have access to the fixed range tool you should mark out monthly nPOCs too using the same trick as above. Needless to say they are much more powerful than daily nPOCs. Look specifically at December 2021. See if you can find the (very important) nPOC left from that month and I will let you know if you are right. That is a level you need to have marked on your chart.
Please, I would be interested to hear about CC (the guy from Chart Champions talk about it) and the nPOC in your next post. As for the chart, I am not sure I couldn't find the nPOC. Or maybe I made a mistake?
What you are looking for is the volume for the individual month as this is the only way to know if the monthly POC remains untapped. So you would pull the range not from today to the month in question (which is covering a large period of time) but rather pull the range so that it is measuring just the month you are looking at. So for Dec 2021 here is the POC.
When you zoom out you can see this POC remains untapped.
Mark it on your chart as 48700. Exochart data slightly more accurate.
Levels like this almost always see big reactions, though sometimes you will need to be patient before the move is confirmed.
Funny you know Chart Champions. Yes, Daniel who created Chart Champions is my mentor now. And he is IMO the best trader in the world. Despite his gleaming white teeth and bad jokes ;)
I got it. Thanks for your explanation.
It's great that you have Daniel as your mentor. He is quite handsome too, despite his not funny jokes. I have watched one or two of his past video that's available on the internet.
Thanks again, and looking forward for your next post🙏
Great! You got it now.
Make sure to always watch the free videos Daniel puts out on YouTube. You will learn a lot from these alone.
Sure, I will. Thanks.