Hello all,
I have not been posting for various reasons lately (massive go-live for my project). I have been reading and appreciate everyone's generosity.
Background:
My full time job keeps me from day trading as much as I would like. I'm learning the market for my investments. I have gone through the journey of looking at indicators and believe that price action is where I need to focus.
My wife has become interested in day trading. I am going to teach her price action, candlestick reading, and trend lines. We will work together on entries and money management to develop a trading plan for her.
I've taught her about how the market trends, consolidates, then continues or reverses. I have her mark price action so she can begin to see the trends and consolidations and reversal areas.
We use:
HH-Higher High
HL-Higher Low
LL-Lower Low
LH-Lower High
SH-Similar High (I picked this up from some book I read instead of double top / bottom and now it is a habit)
SL-Similar Low
She marks up the chart and then we discuss it. I don't go back and have her make changes if I disagree. We just move on to the next day or task. Sometimes I send her a "pop quiz" where I pick a random instrument and timeframe for her to mark up. The point is that price action transcends instruments and timeframes.
I will begin posting her progress.
We have been doing this for a few weeks but didn't save the charts until recently. Attached is a chart from July 15 she marked up.