Trade what you see NOT what you expect | Page 1472 | Forex Factory

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Trade what you see NOT what you expect

  • #29,421
  • Jan 18, 2010 9:52am Jan 18, 2010 9:52am
Quoting cisco
Great illustration! Sometimes a pic is worth a thousand words.
  • #29,422
  • Jan 18, 2010 10:03am Jan 18, 2010 10:03am
Quoting cisco
Just a suggestion...for those having trouble with HTF S/R, maybe you could apply your higher TF S/R lines on your m15 charts so you'll be less likely to overlook them. I like to do that on occasion so I won't forget about them.
That's actually how I always do it. Take them from the weekly down to the daily, down to the 4h etc. Only problem being that sometimes on the lower tf's it's a bit difficult to make out where actually the sr comes from. Gotta loop back thru higher tf's then. Actually good exercising going back and forth thru all the different tf's.

Another thing: as we're usually taking our trades from the 15m I find it fairly cumbersome to also post higher tf's and elaborate on all the implications of the trade thru all different tf's. Also I believe in acticve learning. I'd be happy if somebody merely post a chart of a trade stating "35/50 reversal". Up to everybody else to analyze the set-up (on all relevant tf's) and ask questions if necessary. However, I find posting trades as soon as possible after they come up important as I find it important for noobies to see the set up unfold in real time. Real time is just absolutely different from looking at it with hindsisht. The difficulty is seeing it while it happens and reacting to it.

Just mho.
  • #29,423
  • Jan 18, 2010 10:09am Jan 18, 2010 10:09am
Quoting AnonYmos
That's actually how I always do it. Take them from the weekly down to the daily, down to the 4h etc. Only problem being that sometimes on the lower tf's it's a bit difficult to make out where actually the sr comes from. Gotta loop back thru higher tf's then. Actually good exercising going back and forth thru all the different tf's.
.
i am sure this is not an origional thought, i use different colour S/R for each TF
" When the ship starts to sink, don't just pray. JUMP "
  • #29,424
  • Jan 18, 2010 10:14am Jan 18, 2010 10:14am
Quoting Gladis Night
i am sure this is not an origional thought, i use different colour S/R for each TF
It may not be original, but it's still an excellent idea. Sharing small ideas can sometimes make all the difference in having a nice balance in the account...or not. Especially if you're new to the world of trading.
Hi, my name is Barry and you can keep your doctor...
  • #29,425
  • Jan 18, 2010 10:15am Jan 18, 2010 10:15am
Quoting Gladis Night
i am sure this is not an origional thought, i use different colour S/R for each TF
yep. good idea. but i'm one of the 30 or so % males color blind and all the different ma's already drive me bananas. if i use different colors for sr's in addition i certainly go - what's the escalation of "bananas"?
  • #29,426
  • Jan 18, 2010 10:18am Jan 18, 2010 10:18am
Quoting Gladis Night
i am sure this is not an origional thought, i use different colour S/R for each TF
I use fib red on weekly, blue on daily and purple on 4hr and take entry on 15 min around those level.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #29,427
  • Jan 18, 2010 10:25am Jan 18, 2010 10:25am
Quoting AnonYmos
- what's the escalation of "bananas"?
would that be a banana grove or banani ?
" When the ship starts to sink, don't just pray. JUMP "
  • #29,428
  • Jan 18, 2010 10:57am Jan 18, 2010 10:57am
Quoting AnonYmos
yep. good idea. but i'm one of the 30 or so % males color blind and all the different ma's already drive me bananas. if i use different colors for sr's in addition i certainly go - what's the escalation of "bananas"?
Maybe something you already utilize but some charting packages allow you to edit the line attributes (thickness, dotted, dashed etc.) so while it may not be as instantly clear as a colour difference there could still be differentiation between the various time frame s/r.

I personally have one colour for (what I perceive as) daily s/r and another for 4h s/r (on the occasions where the two aren't in the same area). I also use two different line thicknesses to differentiate between what I consider stronger and weaker s/r.

With my charting package all lines drawn on one time frame automatically cascade down to the next (lower) time frame so as long as a mark up my daily and 4hr charts they show up on my 15m.

Just another personal preference; I know some s/r stays in play over long periods of time (months, years?) but in an attempt to keep my charts relatively uncluttered I rework my higher time frame s/r every day and only have on the ones above and below current price that are likely to come into play during the upcoming day(s) whichever way she decides to go, up or down. Keeps the levels fresh in my mind that way too.

Macc
  • #29,429
  • Jan 18, 2010 11:07am Jan 18, 2010 11:07am
Quoting macc
I also use two different line thicknesses to differentiate between what I consider stronger and weaker s/r.

Macc
hi macc, Good idea hadn't thought of that ( now I know why i need you guys )
" When the ship starts to sink, don't just pray. JUMP "
  • #29,430
  • Jan 18, 2010 11:08am Jan 18, 2010 11:08am
With my MT4 platform, I can set what TF's a line should appear on. So I set my S/R for all TF's and set them to display only on them (except my 4H I set to show on the 1H too). Then just by simply switching between the TF's, I see the relevant S/R's.

You can set any combinations of TF's to display them on that you want to.
Ghost Rider - WWTBMD?
  • #29,431
  • Jan 18, 2010 11:14am Jan 18, 2010 11:14am
just found my pole dance pic for cisco
" When the ship starts to sink, don't just pray. JUMP "
  • #29,432
  • Jan 18, 2010 11:15am Jan 18, 2010 11:15am
Quoting Gladis Night
just found my pole dance pic for cisco
....OOOH BABY!!

They sure would look good on the floor boards of my bike!
Ghost Rider - WWTBMD?
  • #29,433
  • Jan 18, 2010 11:17am Jan 18, 2010 11:17am
Quoting Gladis Night
hi macc, Good idea hadn't thought of that ( now I know why i need you guys )
It sort of came about because I was conscious of the fact that some people's higher time frame closes (4h & Daily specifically) were out of synch with my own so I started marking s/r areas that corresponded with both candle closes and wick extremes.

Obviously, if you're not careful you could end up throwing lines everywhere so it still requires the same principal of looking for areas of repeat interest/reaction (whether on a candle close or wick extreme)

Macc
  • #29,434
  • Jan 18, 2010 11:18am Jan 18, 2010 11:18am
oh fooey. Don't ya just hate it when your head gets chopped off in photo
" When the ship starts to sink, don't just pray. JUMP "
  • #29,435
  • Jan 18, 2010 11:23am Jan 18, 2010 11:23am
Quoting macc
It sort of came about because I was conscious of the fact that some people's higher time frame closes (4h & Daily specifically) were out of synch with my own so I started marking s/r areas that corresponded with both candle closes and wick extremes.

Obviously, if you're not careful you could end up throwing lines everywhere so it still requires the same principal of looking for areas of repeat interest/reaction (whether on a candle close or wick extreme)

Macc
I actually use a line graph to mark mine as it's the close I'm interested in knowing. A bit easier on the eyes too...
Ghost Rider - WWTBMD?
  • #29,436
  • Jan 18, 2010 11:25am Jan 18, 2010 11:25am
Afternoon everyone!

Gladis, it's great to see you teasing us and I'm sure you are just revealing yourself slowly, one pic at a time...
Cap
  • #29,437
  • Jan 18, 2010 11:28am Jan 18, 2010 11:28am
Good afternoon Captain. I hope you are well and had a great weekend
" When the ship starts to sink, don't just pray. JUMP "
  • #29,438
  • Jan 18, 2010 11:35am Jan 18, 2010 11:35am
Quoting Gladis Night
Good afternoon Captain. I hope you are well and had a great weekend
Yes same to you.. It was a good one. Lots of drinks!
Cap
  • #29,439
  • Jan 18, 2010 12:02pm Jan 18, 2010 12:02pm
Have a good afternoon /evening everyone, leave some pips for me
see ya all tommorrow
" When the ship starts to sink, don't just pray. JUMP "
  • #29,440
  • Jan 18, 2010 12:07pm Jan 18, 2010 12:07pm
Quoting Gladis Night
Have a good afternoon /evening everyone, leave some pips for me
see ya all tommorrow
Have a good one Gladis

Macc
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