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

  • #141
  • Edited 9:31am Aug 28, 2023 9:20am | Edited 9:31am
Quoting Inthebox
{quote} 4 or 5 candles group together messy. you want clear 3 candle swing up and down. would you choose to trade here? {image}
It is hard to tell if it is going to break up or down I would not trade there
without patience how can you be a trader?
  • #142
  • Aug 28, 2023 9:24am Aug 28, 2023 9:24am
Quoting Inthebox
{quote} 4 or 5 candles group together messy. you want clear 3 candle swing up and down. would you choose to trade here? {image}
IMO, this is the real MESSI...

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Success = Practice + Patience + Persistence
  • #143
  • Aug 28, 2023 9:25am Aug 28, 2023 9:25am
Quoting Inthebox
{quote} 4 or 5 candles group together messy. you want clear 3 candle swing up and down. would you choose to trade here? {image}
I was analyzing it like this but yeah, it's not good due to ranging today
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  • #144
  • Aug 28, 2023 9:38am Aug 28, 2023 9:38am
Quoting fxpider
{quote} IMO, this is the real MESSI... {image}
messy but planned well ahead for retirement.
https://indianexpress.com/article/sp...i-mls-8868185/
ITB - Seeing Orderliness amongst 'Randomness'
  • #145
  • Aug 28, 2023 9:40am Aug 28, 2023 9:40am
Quoting Inthebox
{quote} 4 or 5 candles group together messy. you want clear 3 candle swing up and down. would you choose to trade here? {image}
but lets add 5m candles together = use 60m chart and depending how it closes,
and maybe we have short setup on 60m
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I might be wrong , I have been wrong before
  • #146
  • Aug 28, 2023 9:43am Aug 28, 2023 9:43am
Quoting Mandariin
{quote} but lets add 5m candles together = use 60m chart and depending how it closes, and maybe we have short setup on 60m {image}
quite obvious the 2 big bearish candles shouting to short.
if above 50% of last move, then it's good to short.
ITB - Seeing Orderliness amongst 'Randomness'
  • #147
  • Aug 28, 2023 9:50am Aug 28, 2023 9:50am
Quoting Inthebox
{quote} quite obvious the 2 big bearish candles shouting to short. if above 50% of last move, then it's good to short.
That way I use MTF setup D,30m,15m,10m and 5m
Mess in 5m but clear setup on 30m chart
I might be wrong , I have been wrong before
  • #148
  • Aug 28, 2023 11:08am Aug 28, 2023 11:08am
Quoting Mandariin
{quote} That way I use MTF setup D,30m,15m,10m and 5m Mess in 5m but clear setup on 30m chart
i should notice for the news of gbp today. normally the volume of gbp it's quite big but today quite shjt
  • #149
  • Aug 28, 2023 11:21am Aug 28, 2023 11:21am
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 think should add volume to make the trade, if the volume is low and ranging, i won't make a trade
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  • #150
  • Aug 28, 2023 11:43am Aug 28, 2023 11:43am
Quoting Stevooo
{quote} I think should add volume to make the trade, if the volume is low and ranging, i won't make a trade {image}
up to you.
i don't need volume indicator.
your chart indicated a lot of rising volume at the last part, but how far the price moved?
in the middle when price moved down and then up, how come no high yellow volume appear.
how do you determine when there is real volume and when there is no real volume?
when there an engulf candle, i know there's volume there, without looking at volume indicator.
when there momentum candle, i know there's volume there.
i don't need lipsticks all over my chart.
ITB - Seeing Orderliness amongst 'Randomness'
  • #151
  • Aug 28, 2023 12:12pm Aug 28, 2023 12:12pm
Quoting Inthebox
{quote} up to you. i don't need volume indicator. your chart indicated a lot of rising volume at the last part, but how far the price moved? in the middle when price moved down and then up, how come no high yellow volume appear. how do you determine when there is real volume and when there is no real volume? when there an engulf candle, i know there's volume there, without looking at volume indicator. when there momentum candle, i know there's volume there. i don't need lipsticks all over my chart.
sounds reasonable, hmm i quite discoraged after the lost today. Neeed to practice to see more about the market everyday. Didn't think gbp was so bad, euro was fiine. I got a long and very good one, but i want to ask to make it clear about the swing low and high. I thought on gbp is a good swing low? Lowest wick and the 1st and 3rd candles close above the 2nd one and vice versa with swing high right? Did i identify it right on the3rd pic?
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  • #152
  • Edited 1:02pm Aug 28, 2023 12:49pm | Edited 1:02pm
Quoting Stevooo
{quote} sounds reasonable, hmm i quite discoraged after the lost today. Neeed to practice to see more about the market everyday. Didn't think gbp was so bad, euro was fiine. I got a long and very good one, but i want to ask to make it clear about the swing low and high. I thought on gbp is a good swing low? Lowest wick and the 1st and 3rd candles close above the 2nd one and vice versa with swing high right? Did i identify it right on the3rd pic? {image} {image} {image}
you switch to a line chart and think about it again.
i mentioned before you should not be trading gbp today.
https://www.forexfactory.com/thread/...8#post14552808
ITB - Seeing Orderliness amongst 'Randomness'
  • #153
  • Aug 29, 2023 6:06am Aug 29, 2023 6:06am
europe open trade
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ITB - Seeing Orderliness amongst 'Randomness'
  • #154
  • Aug 29, 2023 6:09am Aug 29, 2023 6:09am
Quoting Inthebox
{quote} you switch to a line chart and think about it again. i mentioned before you should not be trading gbp today. https://www.forexfactory.com/thread/...8#post14552808
which environment do you want to trade in?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #155
  • Aug 29, 2023 11:23am Aug 29, 2023 11:23am
Quoting Inthebox
{quote} which environment do you want to trade in? {image}
this is just random stuff i want to learn, for time frame we can all see that we just looking for short. However, there is a support line that i draw, just want to ask that at swing high 1 it doesn't have the retracement right so we can't take the trade. But it swings high 2 has retracement and good candle too short, it seems the price go against the short. is there anything i did wrong? this is just another situation i want to learn
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  • #156
  • Aug 29, 2023 12:04pm Aug 29, 2023 12:04pm
Quoting Stevooo
{quote} this is just random stuff i want to learn, for time frame we can all see that we just looking for short. However, there is a support line that i draw, just want to ask that at swing high 1 it doesn't have the retracement right so we can't take the trade. But it swings high 2 has retracement and good candle too short, it seems the price go against the short. is there anything i did wrong? this is just another situation i want to learn {image}
"this is just random stuff i want to learn"
no short here.
is the support from htf?
why do you still want to short? why do you want to fight against a brick wall?
therefore learn how to read the higher time frame.

and the other thing is do you know US news event will be out very soon. don't gamble.

so you made 2 major mistakes.
1. trading at the wrong location. wrong price level.
2. not taking notice of major news event.
ITB - Seeing Orderliness amongst 'Randomness'
  • #157
  • Aug 29, 2023 12:18pm Aug 29, 2023 12:18pm
Quoting Inthebox
{quote} "this is just random stuff i want to learn" no short here. is the support from htf? why do you still want to short? why do you want to fight against a brick wall? therefore learn how to read the higher time frame. and the other thing is do you know US news event will be out very soon. don't gamble. so you made 2 major mistakes. 1. trading at the wrong location. wrong price level. 2. not taking notice of major news event.
1. just want to double check chat we avoid to trade near the htf resistances/ supports right?
2. no placing order for before big events/ news right?
  • #158
  • Edited 1:08pm Aug 29, 2023 12:21pm | Edited 1:08pm
Quoting Stevooo
{quote} 1. just want to double check chat we avoid to trade near the htf resistances/ supports right? 2. no placing order for before big events/ news right?
correct.
avoid sell near htf support,avoid buy near htf resistant.

with experience, you sell at htf resistant, buy at htf support.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #159
  • Aug 29, 2023 8:02pm Aug 29, 2023 8:02pm
Quoting Inthebox
{quote} correct. avoid sell near htf support,avoid buy near htf resistant. with experience, you sell at htf resistant, buy at htf support. {image}
noted boss!
  • #160
  • Aug 29, 2023 8:52pm Aug 29, 2023 8:52pm
Quoting Inthebox
{quote} correct. avoid sell near htf support,avoid buy near htf resistant. with experience, you sell at htf resistant, buy at htf support. {image}
sorry boss, i want to ask about the double maru, i want to ask and learn about it, can u give me examples about it? long and short position pls, i read on many websites and videos but they didn't clear
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