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- reddog19 replied Mar 21, 2009
In reply to a recent PM about choosing the precise S/R number, Strat replied to me ..."It's not a calculation - it's on the chart. Forget equations it's something that's been on there since the first price chart was drawn." I decided to start at ...
- reddog19 replied Mar 20, 2009
It appears to be a potential major reversal area. All MA's converging (after downtrend) and HH's & HL's. Assuming that we need at least 3 CLOSING prices to draw the first trend line, then it couldn't have been drawn till the close of the bullish bar ...
- reddog19 replied Mar 19, 2009
Sorry, I meant when you entered 10 hours ago, was your entry price determined from the 1 hour chart?
- reddog19 replied Mar 19, 2009
Hi Haribon, Did you enter that 2nd buy off the 1H? What is you S/L?
- reddog19 replied Mar 19, 2009
[quote=Baba G;2614716] Thanks Baba, Even though it is hindsight, once I brought it up on my screen I think I can see what you mean Market has been going sideways within a range for several months with a bullish sentiment over the last 2 weeks. The ...
- reddog19 replied Mar 19, 2009
No I hadn't forgotten. That is precisely why I mentioned the large S/L. So I gather you would just pass this trade and wait for a better opportunity.
- reddog19 replied Mar 19, 2009
Baba, Could you go into a bit more detail? Thanks RD
- reddog19 replied Mar 19, 2009
So how would you play this? Enter at 10 pips above the high (.6825) with a S/L at the low (.6563)? With the overhead resistance much closer than the 260 pip S/L, would you still take this trade? Or has the midnight express just pulled into the ...
- reddog19 replied Mar 19, 2009
Ichimoku Kinko Hyo — Apparently an "all in one indicator" popular in many Japanese trading rooms. The Tenkan and Kijun are similar to a 20 and 50 weighted MA crossover system. The Kumo (clouded area between Span A and Span B) acts as support ...
- reddog19 replied Mar 18, 2009
I've re-read as suggested. My problem is that many of my charts appear to have too many weekly S/R zones. When I noticed your chart with weekly and daily coinciding S/R..... Back to the bottom of the learning curve!
- reddog19 replied Mar 18, 2009
Hi Strat, Are you saying that I can weed out a lot of the weekly S/R lines by using a monthly filter? It stands to reason that a monthly S/R line will also qualify as a weekly one.
- reddog19 replied Mar 17, 2009
Haribon, What time frame are you using and what PA? Can't see anything on my data.
- reddog19 replied Mar 16, 2009
EURGPB — Thinking of long for the following reasons Last Thursday's spinning top showed indecision Friday and yesterday showed more selling than buying pressure but still ended up equal with the bulls. Also declining volume. 20 crossed 50 and ...
- reddog19 replied Mar 16, 2009
I'm not crash hot on that sought of stuff but would be more than willing to give a hand. Do you mean something like that index on James16 that has links to relevant posts under a series of major headings? Or are you contemplating a full blown word ...
- reddog19 replied Mar 15, 2009
Sunday Bar — On my data feed, the sunday bar is actually the first couple of trading hours of the Ausralian/Asian zone (till 00:00GMT). Do you ignore this bar altogether or would you still use it with adjoining bars if it showed say a double ...
- reddog19 replied Mar 14, 2009
I'm really looking forward to your S/R revelations. All the weekly charts I've practiced on seem to end up with too many lines. I'm well into the J16 thread, but I am still looking for a way to filter out some of my S/R lines. After watching some of ...
- reddog19 replied Mar 14, 2009
For the BEOVB, isn't there are more aggressive entry point when the BEOVB bar passes the first bar's open. Also for the PA in early January, there was a large gap down which was then filled before retracing down. Is there a strategy to take ...
- reddog19 replied Mar 12, 2009
MA Questions — Thought I'de have a go at some of Strat's questions. GBPUSD The 20 & 50 are both down and the gap between them is widening. This would suggest a continuation of the down move. However there is very major resistance at 1.37ish ...
- reddog19 replied Mar 10, 2009
So when you are drawing S/R lines and trend lines you only use the CLOSE? Also for Fibs? What about setting your S/L? Do you set it above/below the CLOSE of a recent swing high/low? Does it affect how you see price action? Thanks Strat
- reddog19 replied Mar 10, 2009
Thanks for your reply Chris P, I can appreciate what you are saying but isn't the "technical" direction of the trend determined by whether it is making HH's & HL's or LH's & LL's? Also, if we digress to the equity market, then every major stock is ...