Bobby's Homework Assignment

1.23.23 Dollar on the Futures market: The dollar is at the support area. There is a battle between buyers and sellers at this area. This is also A double bottom. This might imply that the market is going to go higher since it is at a double bottom. This is not necessarily true. I spent some time on ABCD patterns. I am guessing that these patterns are probably used more to find targets comma as opposed to finding reversals. Maybe confusing if you have not thought about it in the past. The problem with using ABCD patterns as reversal patterns Is that this process can be much less reliable...especially when you were looking at very long-range projections. There will be plenty of examples to clarify this issue. In general, Start using the line tools to get used to them. Start thinking about support/ resistance Lines. Get used to the drawing tools, and then the nuances fall into place.