The truth of Price Action and Ranges

OK...

Im using the last range A-B and using this from point C

Looking at my spread sheet and 100% of the last rage is 15006...

A is the low
B is the high
C is the price

All in the long direction

next low.

Ok so the low came in and started to reverse.. is it a low? I like to know if a target has been meet.

1) it did 100% with in 3 pips but if you average 100% 14994 and 150% 14988 this equals (14994 + 14988)/2 = 14991 low 14991

the low.. ok target hit and holding, will look to take to take next long..

charts

next high

next short

next long

ok.. all this percentages and calculation are fine and dandy maybe.. but what do u do when things go wrong?
fakeouts!!!!.. there gonna be there no matter what.. u can't avoid them.. and its like catch 20/20.. meaning that if u try to avoid them by fine tuning false signals then on other hand u will miss some long rides (runners).. so i I found out i be better off to makeout with the fakeout.. lol.. enteries are a way to test the market to see if that swing will develop.. at best an a entery got a 50/50 chance of winning either u like it or not they got some randomness in'em.. so, it falls mostly back to your expectancy of how to trade manage it.

also on my reviewies on your chart I noticed some of your fcr's are hallucination of ones.. some of them don't exist and some of them are simply countinuation of price which falls under 123 S/D.. and they all are different animals since u got to have different defensive approach with each.

Thanks anyways Duke..

Fx,

I called all entries FCR to make it simple for others.. anyway I thought it might be of interst.

cheers
Duke

Hi Duke,

I've used ur spread sheet and entered the trades.

The red and yellow bar highlights the Low and High. I keyed in the price for short and base on 50%, i inputted the TP.

Short
High150314 50 150185
Low150136 100 150096
Range1781 50 150007
200 149918
Price150274 250 149829
50% range150225

Subsequently, when PA reaches the low, at the 2nd red bar, I was getting ambitious and putted a long order.
Long
High150350 50 150240
Low150138 100 150346
Range212 150 150452
200 150558
Price150134 250 150770
50% range150244

However, I still put a SL and a pending sell order in case price breaks the resistance level and goes south.

Still trying to figure this out. How does that trade look at the moment?

Would be very interesting to have a indicator of this strategy.....

Its like 1-2-3 system

Thanks for the detailed explanation! Got it now!

When do you know it´s time to get out? Target met? You project a likely target, but how would yo know it hits 50% or 100% or more?

:-)

What are the two lines on your charts that look like moving averages?

any update?