Roadmap - A Way To Read Markets

Quoting oluwagbenga

Disliked

{quote} Great template, Can you share the template with us, thanks

Ignored

Quoting turnip15

Disliked

{quote} Couple of shorts off that High maybe ? Now broke above - so wait ? {image}

Ignored

Quoting forexjedi1

Disliked

How far is too far? I am still studying the thread and the other related threads and this may have been discussed already. If so, i'll find it. Is there an objective measure for how far price/channel has moved from the 200SMA before the trade is invalid? Is there a percentage of the ATR or ADR that says don't trade? Does it remain a visual interpretation that is up to the discretion of the trader? Russ

Ignored

Quoting LauraT

Disliked

{quote} Hi It's a good question but one that unfortunately I cannot give a mathematical answer to. The further away price is from the SMA, the more chance it could spring back toward it (or stall enough for the SMA to catch up). Armed with that knowledge, it really depends on the risk tolerance of the individual trader (and the look and feel of the individual trade). {image} A random chart example, showing the approximate distance from the SMA to the bottom of the channel. Notice that, each time, price retraced toward SMA. But the value...

Ignored

Quoting OAPDave

Disliked

{quote} Hope your keeping well mate, bit of a bummer with no footy, do you ever bump into any of the old gang

Ignored

Quoting LauraT

Disliked

{quote} Hi It's a good question but one that unfortunately I cannot give a mathematical answer to. The further away price is from the SMA, the more chance it could spring back toward it (or stall enough for the SMA to catch up). Armed with that knowledge, it really depends on the risk tolerance of the individual trader (and the look and feel of the individual trade). {image} A random chart example, showing the approximate distance from the SMA to the bottom of the channel. Notice that, each time, price retraced toward SMA. But the value...

Ignored

Quoting bettervolume

Disliked

hi laura ..i really like the simplicity of your trading .....my daily open line is 40 pips away from urs ...do u trade chds obn mt4 or futures???

Ignored

Quoting OAPDave

Disliked

{quote} Yer, bang on Lem, you never know how long I have got left in today's world, so maybe it just might be a parting gift. Joking aside, you know how long its been my standby indicator ( not easy to grasp at times) but no matter what anyone says its been very kind to me I just look at it as another form of RSI or any other type of OB/OS indicator ps its free to the nice guys but a million pounds to the indicator collectors Lem love your style and attitude, spot you posts in a few places

Ignored

Quoting handy148

Disliked

{quote} Hi Dave - yes gets boring with no footy. I'm in regular contact with your mate north of the border plus a couple of others. Interesting system this.

Ignored

Quoting lemercenaire

Disliked

{quote} Quite right, Dave. Life's too short. If you have something that works for you and you know will always have your back, then wth shouldn't you use it any chance you get?! I have to say, that I too now have a chart that is set aside for your Special Sauce and it's always worth a look see. Enjoy every sandwich! - Warren Zevon

Ignored

Quoting OAPDave

Disliked

{quote} See you just prove me right, You are a nice guy and sensible now, if you have got a magic sauce chart set up hahahahaha Thanks Lem Keep well, keep safe my friend Dave

Ignored

Quoting LauraT

Disliked

{image} A pretty standard channel cross trade. What I wanted to point out on this one though is that my logical target (daily open line) was exceeded. It's worth watching price action when an instrument reaches your target (assuming you are able to be infront of the screen). As you'll see from the chart, price eventually burst through the daily open line with a very strong candle and I was able to make a few extra points just by sitting on my hands.

Ignored