Magic Mondays
- Thread starter SLT
- Start date
Well me, and a couple of others around this forum from what i have seen, use the Monday as a kind of weekly CDR along side of the Asia range CDR, using the weekly CDR as a kind of reference point locating a weekly high or low. I look at the Monday either being a part of the consolidated or impulsive part of a cycle. Also making it easier to locate monthly tops and bottoms at times. It is mostly a visual thing for me.
At times the Monday range will provide support, resistance and or a Block
At times the Monday range will provide support, resistance and or a Block
GdayFx said:
1. As I understand it, the Asia range and the CDR are completely different concepts and there is no Asia range CDR. So I'm not entirely sure what you are trying to say here.
2. It looks like you are saying the Monday range has a high probability of containing the weekly high or low. If a week trends this is logically likely to be the case, given that Monday is the start of the week. You seem to see value in focusing on the Monday range to help identify direction for the week, it would seem. That's fair enough and makes sense.
3. This just doesn't appear to make any sense unfortunately. Are you trying to say that Monday is in some way indicative of future change in market character? Every day is either part of consolidation or an impulsive phase. That just means static or moving: it must always be one or the other. I get the sense you're trying to say something here that I'm just not getting. Maybe you could elaborate.
4. How does it make it easier to locate monthly tops and bottoms? Hmmm, let's see. Are you saying that because of the tendency in 2 above, given some other factors such as support and resistance levels for instance, you would tend to anticipate these monthly turns or be especially watchful for them on a Monday? I'm not sure that would be helpful but it would make sense.
5. At times any day does this. I gather you are suggesting that Monday has greater significance. If you highlight any day of every week you can draw interesting support and resistance levels from it, just like those on your 'Mondays' charts.
Dan, thanks for taking the time to provide this thread and for your posts. I can see that clear expression in writing of complex ideas does not come easily to you. That's just an observation, not a criticism.
Answering questions and responding to feedback can help you to think through what you are trying to communicate so you can more effectively share the ideas you have. Sharing them can help others and taking on board honest feedback and considering thoughtful discussion can in turn help you to clarify your ideas and maybe improve them. This requires effort and trust but the result is win:win.
