Disliked{quote} EVEN zones? I could keep thinking that way about indicators, but zones... Indicators at least process/calculate something. - Easy to define - you can backtest objectivelly - collect performance statistics (not in your head) Zones are drawn objects. Usually w/out consistent basis behind, by a naked eye. Zone as a start - price supposed to bounce or what? Zone as target - price suppose to go there? Does candlestick patterns belong to PA? Its easy to define them in first order logic and test. E.g. hammer on Hourly TF gonna give you 10 pips...Ignored
So many approach to trading the market but I personally talking about my own observation which represent my perception.
I may be wrong as well because No Trader is Absolute..
Sometimes ago, an old friend from Trinidad and Tobago was explaining about zone being one of the hidden secret but I did not believed. He thought me like a baby, sent chart, tutorial and so on... I did not understand until later that my eyes became opened.
See my current trade on GU, I am defending a zone not just indicator movement or candle print.. Apply indicator and candlestick while operating at appropriate zone... They are support turned resistance and viceversa.
Indicator would have taken me in and out severally today just like Moty.... Moty is also good but my own brain cannot be following prices up and down...
If interested in learning further, Check a free online resources by a guy from Australia, Timon Weller... He talked about structures, zoning and so on..
My perception...
Market Structure is the King.....
