As they say, history repeats itself. We've seen a lot of stocks and even currency pairs gone through the same exact cycle.
Humans act, react and overact in similar ways to certain situations which are repeated over and over again.
This is why exists today.
As we all understand, emotions are our biggest enemy in trading. This is why you must recognize the enemy and take action to avoid it.
Anytime you recognize emotions influencing your trade actions, you should always take a step back and refocus your attention on price action.
This is the main reason why I'm a profitable trader today!
Finally, an understanding of the crowd psychology can help you gain an emotional advantage over traders who thinks only of their own actions.
*This methodology applies to weekly, daily or even a 4-hour chart.
I liked "This is the main reason why I'm a profitable trader today!". It would be great and beneficial to us "newbies" if you make a webinar or a YouTube video to talk about your success, beginnings, what mistakes you did, what hardships you faced, and how you could tackle 'em. We really need to learn from other's experiences!
This isnt a "new" idea, its been around for a looong time