i recently found this post http://forexfactory.com/showthread.php?t=69882 about drawing S+R properly (and aediaz1 makes some good points - this is in no way a shot at him) however when i tried to redraw his chart (chart1.jpg) i found i couldn't (chart2.jpg), at least not exactly (which makes a big difference to the way we trade).
notice the candle formations in comparison, especially around the larger candles (notably 1 feb) - id also like to point out "gaps", ive heard of people trading these "gaps", but as you can see again around 1 feb, gaps are only shown on my chart.
secondly look at the stoch from the 8feb onwards (ive used the standard stoch that comes with MT - i assume aediaz1 used the same) it matches roughly until that point.
around the 17 feb chart1 has a large up-shadow on the candle at the very top, chart2 does not - this may be due to timezones, if his 4hr candle closes 1-3 hours before mine it will effect the over all appearance. between time zones and broker feeds i often wonder if we all see the same thing. in the stocks there is a central feed like the FTSE so everyone sees the same thing, but alas we are on our own in the forex world. please take some time to compare your own charts with these.
FINAL NOTE - the highs and lows do seem to match quite well, which may be of some help in the future
notice the candle formations in comparison, especially around the larger candles (notably 1 feb) - id also like to point out "gaps", ive heard of people trading these "gaps", but as you can see again around 1 feb, gaps are only shown on my chart.
secondly look at the stoch from the 8feb onwards (ive used the standard stoch that comes with MT - i assume aediaz1 used the same) it matches roughly until that point.
around the 17 feb chart1 has a large up-shadow on the candle at the very top, chart2 does not - this may be due to timezones, if his 4hr candle closes 1-3 hours before mine it will effect the over all appearance. between time zones and broker feeds i often wonder if we all see the same thing. in the stocks there is a central feed like the FTSE so everyone sees the same thing, but alas we are on our own in the forex world. please take some time to compare your own charts with these.
FINAL NOTE - the highs and lows do seem to match quite well, which may be of some help in the future