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Is this the correct way to draw S&R lines?

  • #121
  • Aug 25, 2023 4:03am Aug 25, 2023 4:03am
Quoting Stevooo
{quote} that's my entry cause it closes above {image}
rule 4 is not close above.
rule 4 is 3 candle swing low (best to have 3rd candle close above middle or 2nd candle high)
totally missed out.
https://www.forexfactory.com/thread/...8#post14547968
ITB - Seeing Orderliness amongst 'Randomness'
  • #122
  • Aug 25, 2023 4:12am Aug 25, 2023 4:12am
Quoting Inthebox
{quote} rule 4 is not close above. rule 4 is 3 candle swing low (best to have 3rd candle close above middle or 2nd candle high) totally missed out. https://www.forexfactory.com/thread/...8#post14547968
1. Sorry for that i was looking at the one before
2. but that swing low candle breaks the retracement and even the old resistance. but it still safe because the 3rd candle close higher than the middle one right?
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  • #123
  • Aug 25, 2023 4:14am Aug 25, 2023 4:14am
Quoting Stevooo
{quote} 1. Sorry for that i was looking at this one. 2. but that swing low candle breaks the retracement and even the old resistance. but it still safe because the 3rd candle close higher than the middle one right? {image} {image}
right. there was my entry.
ITB - Seeing Orderliness amongst 'Randomness'
  • #124
  • Aug 25, 2023 4:19am Aug 25, 2023 4:19am
Quoting Inthebox
{quote} right. there was my entry.
1.so even the retracement closes above we still need to wait for 3 swing low candles right?
2. on the pic above we before the entry there was 2 big candles break the resistance, but we don't need to worry about it right? because i thought that the swing low have to closes above also
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  • #125
  • Aug 25, 2023 4:40am Aug 25, 2023 4:40am
Quoting Stevooo
{quote} 1.so even the retracement closes above we still need to wait for 3 swing low candles right? 2. on the pic above we before the entry there was 2 big candles break the resistance, but we don't need to worry about it right? because i thought that the swing low have to closes above also {image}
yes.
in all my charts there are 2 lines near my entry. one trend line and one support resistant line.
i don't have the time to look at other lines. only confuse me.
less and simple is better. only then your mind will be clear.
ITB - Seeing Orderliness amongst 'Randomness'
  • #126
  • Aug 25, 2023 4:49am Aug 25, 2023 4:49am
Quoting Inthebox
my current trade. after tp1 put to break even. go to my thread if you want to know more. however they are all advanced stuff. {image}
Hello, may i ask where is your thread, sir?
  • #127
  • Aug 25, 2023 5:21am Aug 25, 2023 5:21am
Quoting Inthebox
{quote} yes. in all my charts there are 2 lines near my entry. one trend line and one support resistant line. i don't have the time to look at other lines. only confuse me. less and simple is better. only then your mind will be clear.
i got a long here
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  • #128
  • Aug 25, 2023 6:58am Aug 25, 2023 6:58am
Quoting truongxx
{quote} Hello, may i ask where is your thread, sir?
you can click my name in this thread, click forum posts threads started.
the latest one is SRTLfd discussion.
ITB - Seeing Orderliness amongst 'Randomness'
  • #129
  • Aug 25, 2023 11:40am Aug 25, 2023 11:40am
missed this short entry.
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  • #130
  • Aug 26, 2023 5:49am Aug 26, 2023 5:49am
Quoting Inthebox
{quote} you can click my name in this thread, click forum posts threads started. the latest one is SRTLfd discussion.
Hey, mate.

What do you think of Nick Shawn's strategy? This is my take: you do NOT have to be right most of the time. In fact, if you would be right 20% of the time, you'd still come out in profit if you don't over-risk.
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You basically buy at the resistance and sell at the support, and if shit hits the fan, you hedge till the next zone. Is it really that simple?
  • #131
  • Aug 27, 2023 7:05am Aug 27, 2023 7:05am
Quoting ObadaAdel
{quote} Hey, mate. What do you think of Nick Shawn's strategy? This is my take: you do NOT have to be right most of the time. In fact, if you would be right 20% of the time, you'd still come out in profit if you don't over-risk. {image} You basically buy at the resistance and sell at the support, and if shit hits the fan, you hedge till the next zone. Is it really that simple?
i don't know about nick's work.
i just went to see 2 of his videos.

no, hedging is not that simple. it is discretionary.
depending on your position sizing, and strength of support resistant.
if having the knowledge before hand that coming to a strong resistant why would one still buy and hedge later?
if your position size is big, how many times can you hedge?
if on the other hand, if position size is 0.01 of $10k account, then hedging is not a problem.
even layering of 10 sells, one sell every 50 pips upward move is not a problem. you won't bust your account.

"You basically buy at the resistance and sell at the support, and if shit hits the fan, you hedge till the next zone. Is it really that simple?"
in your chart i highlight the problematic resistant and support zone area.
you would have buy at resistant and hedge till next zone.
that zone lasted for 6 weeks. i don't know about your outcome.

for me, i would sell at resistant and buy at support.
but not just any support and resistant. you must know before hand the reasons for choosing those.
you have to look left, every buy and sell got to have reasons before hand.
yes the power of mult time frames analysis.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #132
  • Aug 27, 2023 10:10am Aug 27, 2023 10:10am
Quoting Inthebox
{quote} i don't know about nick's work. i just went to see 2 of his videos. no, hedging is not that simple. it is discretionary. depending on your position sizing, and strength of support resistant. if having the knowledge before hand that coming to a strong resistant why would one still buy and hedge later? if your position size is big, how many times can you hedge? if on the other hand, if position size is 0.01 of $10k account, then hedging is not a problem. even layering of 10 sells, one sell every 50 pips upward move is not a problem. you won't...
Wow. Thanks mate.
  • #133
  • Aug 28, 2023 7:09am Aug 28, 2023 7:09am
Quoting Inthebox
{quote} you can click my name in this thread, click forum posts threads started. the latest one is SRTLfd discussion.
today i got the short position but it seems like the position doesn't safe, followed the rules but quite weird.
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  • #134
  • Aug 28, 2023 7:22am Aug 28, 2023 7:22am
Quoting Stevooo
{quote} today i got the short position but it seems like the position doesn't safe, followed the rules but quite weird. {image}
I think you didn't have "2. resistant break"
  • #135
  • Aug 28, 2023 7:48am Aug 28, 2023 7:48am
Quoting pensulo
{quote} I think you didn't have "2. resistant break"
the blue point is the point that support broke
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  • #136
  • Aug 28, 2023 8:38am Aug 28, 2023 8:38am
Quoting Stevooo
{quote} today i got the short position but it seems like the position doesn't safe, followed the rules but quite weird. {image}
today gbp holiday. so very easy manipulated.
looks like you are doing forced trading outside of europe/london session.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #137
  • Aug 28, 2023 8:59am Aug 28, 2023 8:59am
Quoting Inthebox
{quote} today gbp holiday. so very easy manipulated. looks like you are doing forced trading outside of europe/london session. {image} {image}
which session is the best one to trade? Can u tell me pls?
and what signal that very clear? But why is that messing? Tell me pls!!
  • #138
  • Aug 28, 2023 9:03am Aug 28, 2023 9:03am
Quoting Stevooo
{quote} which session is the best one to trade? Can u tell me pls?
london and new york sessions.
just a guide.
ITB - Seeing Orderliness amongst 'Randomness'
  • #139
  • Aug 28, 2023 9:09am Aug 28, 2023 9:09am
Quoting Inthebox
{quote} london and new york sessions. just a guide.
but can i ask why that group of candles are messy? Are they have a lot of wicks?
  • #140
  • Aug 28, 2023 9:12am Aug 28, 2023 9:12am
Quoting Stevooo
{quote} but can i ask why that group of candles are messy? Are they have a lot of wicks?
4 or 5 candles group together messy.
you want clear 3 candle swing up and down.
would you choose to trade here?
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ITB - Seeing Orderliness amongst 'Randomness'
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