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DoNotFollowThis

  • #481
  • Oct 1, 2017 11:26pm Oct 1, 2017 11:26pm
Quoting maverick2017
{quote} "Drawn by hand. Each one you see on that chart has been drawn after each pullback showing that none were crossed until the last at the top." Not crossed the trendline to begin a downward movement? But why from the same level?
Simply to not draw the line at a steep angle thus eliminating false break-outs & taking the trade too soon suffering large DDs or stop outs.
Conventional trading is for losers
  • #482
  • Oct 1, 2017 11:27pm Oct 1, 2017 11:27pm
I should give myself charting home works
A trade should be based on an assumption based on facts
  • #483
  • Oct 2, 2017 12:09am Oct 2, 2017 12:09am
Quoting Ralffe
{quote} Simply to not draw the line at a steep angle thus eliminating false break-outs & taking the trade too soon suffering large DDs or stop outs.
Do you mean that false break outs are found at an steep angle.
I've been thinking about this angle of a rally for a while now.
A trade should be based on an assumption based on facts
  • #484
  • Oct 2, 2017 12:30am Oct 2, 2017 12:30am
Attached Image (click to enlarge)
Click to Enlarge Name: UJ M1 analysis 6.png Size: 27 KB
A trade should be based on an assumption based on facts
  • #485
  • Oct 2, 2017 12:42am Oct 2, 2017 12:42am
Quoting maverick2017
{image}
Unless you are very good at scalping, I would keep away from charts under 15min. In fact I have eliminated the M1, M5 & m30 from my charts.
Conventional trading is for losers
  • #486
  • Oct 2, 2017 12:43am Oct 2, 2017 12:43am
Quoting maverick2017
{quote} Do you mean that false break outs are found at an steep angle. I've been thinking about this angle of a rally for a while now.
The steeper the angle the more chance of price breaking through then coming back at you.
Conventional trading is for losers
  • #487
  • Oct 2, 2017 12:49am Oct 2, 2017 12:49am
Quoting Ralffe
{quote} The steeper the angle the more chance of price breaking through then coming back at you.
Like this
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 35 KB
Conventional trading is for losers
  • #488
  • Oct 2, 2017 12:54am Oct 2, 2017 12:54am
Quoting Ralffe
{quote} The steeper the angle the more chance of price breaking through then coming back at you.
I don't understand the meaning of "prices coming back to you".
A trade should be based on an assumption based on facts
  • #489
  • Oct 2, 2017 12:56am Oct 2, 2017 12:56am
Quoting Ralffe
{quote} Like this {image}
yellow line has been crossed multiple times :|
A trade should be based on an assumption based on facts
  • #490
  • Oct 2, 2017 12:58am Oct 2, 2017 12:58am
I think i'm good enough at scalping but cannot trade the bigger swings.
A trade should be based on an assumption based on facts
  • #491
  • Oct 2, 2017 12:59am Oct 2, 2017 12:59am
Quoting maverick2017
{quote} I don't understand the meaning of "prices coming back to you".
Coming back to hit SL or large DD
Conventional trading is for losers
  • #492
  • Oct 2, 2017 12:59am Oct 2, 2017 12:59am
Quoting maverick2017
{quote} yellow line has been crossed multiple times :|
That's in the past. Just look at where it is positioned now.
Conventional trading is for losers
  • #493
  • Oct 2, 2017 1:02am Oct 2, 2017 1:02am
Quoting Ralffe
{quote} That's in the past. Just look at where it is positioned now.
So, it is not a trend line?
right now it looks like an intermediate trend line
A trade should be based on an assumption based on facts
  • #494
  • Oct 2, 2017 1:14am Oct 2, 2017 1:14am
Quoting maverick2017
{quote} So, it is not a trend line? right now it looks like an intermediate trend line
It is, but not a trend line as most people draw them. It does however show when the trend has been broken.
Every time frame has it's own trend so this can be used the same way on any time frame.
Conventional trading is for losers
  • #495
  • Oct 2, 2017 1:18am Oct 2, 2017 1:18am
Quoting Ralffe
{quote} It is, but not a trend line as most people draw them. It does however show when the trend has been broken. Every time frame has it's own trend so this can be used the same way on any time frame.
Okay.
The line has been crossed by a candle once and then line is acting like a support line.
A trade should be based on an assumption based on facts
  • #496
  • Oct 2, 2017 1:24am Oct 2, 2017 1:24am
Quoting maverick2017
{quote} Okay. The line has been crossed by a candle once and then line is acting like a support line.
Correct.
Conventional trading is for losers
  • #497
  • Oct 2, 2017 1:26am Oct 2, 2017 1:26am
Quoting Ralffe
{quote} Correct.
while drawing the line first point can be seen but where is the second point to draw the line.
A trade should be based on an assumption based on facts
  • #498
  • Oct 2, 2017 8:57am Oct 2, 2017 8:57am
Lot of wicks
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 5M analysis 1.png Size: 24 KB
A trade should be based on an assumption based on facts
  • #499
  • Oct 2, 2017 10:37pm Oct 2, 2017 10:37pm
No support, no resistance. Only retracements and consolidations.
A trade should be based on an assumption based on facts
  • #500
  • Oct 2, 2017 10:50pm Oct 2, 2017 10:50pm
Sometimes it feels like "market made me take this trade".
A trade should be based on an assumption based on facts
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