easy 150 pips on AUDUSD this morning..
j/k. I have to start using those pending orders and my Eastern Europe time is playing tricks on me and im always late, always lol
Hi Birdt,
I would punt a long on the energy coil, targeting the zoomed median line.
Gann said it was time that was the most important factor, not price. Sloping trendlines and different manifestations of these predictive support and resistance lines can do an excellent job. I guess this could be explained by people discounting value as time goes on. For instance, if I said to you I'll give you $10k this time next year, or $5k now, you might have to think about it, even though $10k > $5k. So we might expect that groups of traders perceptions of value within a market (and where there orders are based) might also be discounted by/for time and a diagonal expression of support/resistance would appear to a most logical way to represent this. Don't get me wrong, horizontal S and R do a great job, but there are other things you can look at too, although these may be better discussed elsewhere.
). Lets keep it simple, otherwise in no time we will start using indicators again...
