DislikedPerhaps stepping back a moment and recalling what this thread is all about, will help. By that I mean that the basis of all we do here is Support and Resistance.
So. The \"inside\" of the bucket wants to be either a recognizable support level or a resistance level. And as always, this level is stronger when it is confirmed by another S/R level, especiually one that can be seen on a higher time frame and has historical significance. A Fib retracement or extension level that coincides with this inside of the bucket would also be a plus. Some confirmation, then, will increase the probability that the level will be respected by price, when price next encounters it.
The bottom line, IMHO, is that not all buckets will give an edge to our trading. Only those that truly are legitimate support and resistance levels.
SeattlerustIgnored
- Post #4,481
- Quote
- Oct 20, 2008 1:55pm Oct 20, 2008 1:55pm
- Joined Apr 2006 | Status: Member | 1,459 Posts
- Post #4,482
- Quote
- Oct 20, 2008 1:56pm Oct 20, 2008 1:56pm
- Joined Apr 2006 | Status: Member | 1,459 Posts
- Post #4,483
- Quote
- Oct 20, 2008 1:59pm Oct 20, 2008 1:59pm
- Joined Apr 2006 | Status: Member | 1,459 Posts
- Post #4,484
- Quote
- Oct 20, 2008 2:01pm Oct 20, 2008 2:01pm
- Joined Apr 2006 | Status: Member | 1,459 Posts
- Post #4,485
- Quote
- Oct 20, 2008 2:11pm Oct 20, 2008 2:11pm
- Joined Apr 2006 | Status: Member | 1,459 Posts
- Post #4,486
- Quote
- Edited 2:23pm Oct 20, 2008 2:13pm | Edited 2:23pm
- Joined Apr 2006 | Status: Member | 1,459 Posts
- Post #4,488
- Quote
- Oct 20, 2008 2:51pm Oct 20, 2008 2:51pm
- | Joined Sep 2008 | Status: Lucky Man | 2,267 Posts
forget about tomorrow, just steal away into the night
- Post #4,489
- Quote
- Oct 20, 2008 2:56pm Oct 20, 2008 2:56pm
May the fish in your stream of life always bite.
- Post #4,490
- Quote
- Oct 20, 2008 3:12pm Oct 20, 2008 3:12pm
- Joined Apr 2006 | Status: Member | 1,459 Posts
- Post #4,495
- Quote
- Oct 20, 2008 4:54pm Oct 20, 2008 4:54pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
One Chart is Worth Ten Thousand Words.
- Post #4,496
- Quote
- Oct 20, 2008 5:49pm Oct 20, 2008 5:49pm
- Joined Mar 2007 | Status: ~~~~~~~~~ | 3,692 Posts
- Post #4,497
- Quote
- Oct 20, 2008 6:03pm Oct 20, 2008 6:03pm
May the fish in your stream of life always bite.
- Post #4,498
- Quote
- Oct 20, 2008 6:10pm Oct 20, 2008 6:10pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,886 Posts