DislikedOH MY GOD.... we're on page 666!!!
HAHAHA...
Enjoy the weekend fellas (and ladies!).Ignored
Thanks to all who have participated. I am still taken back a little every time I come here.
Silent room 2 replies
Silent Success of Patience 10 replies
My silent journal 4 replies
bo7a method... method for GBP/JPY 205 replies
Seeing Through the Silent Crash 4 replies
DislikedOH MY GOD.... we're on page 666!!!
HAHAHA...
Enjoy the weekend fellas (and ladies!).Ignored
DislikedPersonally i know nothing about trendlines apart from a little experiment i saw some time ago.
Same chart given to 5 traders to draw TLs.
5 fairly different results. Some of them radically different.
Thats why i dont touch them.
Fibs - Ppz, horizontal SR lines. They're ubiquitous. Everyone draws the same lines pretty much. And thats probably why they work so well. It seems like the big fishies that drive the market use theseIgnored
DislikedThere is a recognised way to draw classic trendlines which is rock solid and cannot be drawn any other way, however very few that i've seen in this forum know how to draw them.
Would you like to know?
By the way, do you only pay attention to 50% ? the AUD/CAD (which i do not trade) has some great reactions to 61.8%.Ignored
DislikedPersonally i know nothing about trendlines apart from a little experiment i saw some time ago.
Same chart given to 5 traders to draw TLs.
5 fairly different results. Some of them radically different.
Thats why i dont touch them.
Fibs - Ppz, horizontal SR lines. They're ubiquitous. Everyone draws the same lines pretty much. And thats probably why they work so well. It seems like the big fishies that drive the market use theseIgnored
DislikedYep definitely. But the thing is, its such a huge move that the 50% retrace may not hold exactly. Its usually +/- 10% of the 50% retrace.
Id usually wait until both bosses are driving in the same directionIgnored
DislikedThere is a recognised way to draw classic trendlines which is rock solid and cannot be drawn any other way, however very few that i've seen in this forum know how to draw them.
Would you like to know?
By the way, do you only pay attention to 50% ? the AUD/CAD (which i do not trade) has some great reactions to 61.8%.Ignored
DislikedThere is a recognised way to draw classic trendlines which is rock solid and cannot be drawn any other way, however very few that i've seen in this forum know how to draw them.
Would you like to know?
By the way, do you only pay attention to 50% ? the AUD/CAD (which i do not trade) has some great reactions to 61.8%.Ignored
DislikedThats another reason I like MA's they are what they are and you can't mess with them and everyone can see them.
I also read somwhere that the big boys only use the 100,200, no idea if thats true but everyone sees the same thing.Ignored
Dislikedtui on daily. what appeared to be a breakout resulted in a pinbar. closing under the resistance.Ignored
DislikedYes defeintely - everyday is a school day!
I do draw in the 61.8% and 38.x%.
But i dont believe in the theory behind the numbers. I dont think there is a mystical sequence behind it.
What i do think is that the 50% retrace of a move is one of the strongest points of SR you'll find. And down to human error, diff TFs, different brokers etc there is a +/-10% error zone around the 50%. So that gives the 61.8 and 38.2%.
Right or wrong it doesnt really matter. What matters is that the levels hold frequently. Or course all these lines coincide...Ignored
DislikedAttachment
Attachment
Not pretending to be some kind of guru, it's just something i know AND can share as well, if you have something to show me please do.
Ok for a TL to be valid it must make a new high (on an uptrend) from the last low point, which you'll only know after it did it, which means you need minimum two points and i'm always looking for the third, and vice versa for downtrend.
Of course you can always draw them any which way it suits you, there's no rule that says you have to follow any rules!
You will see...Ignored
DislikedHi all,
TLs are obviously valued very differently from trader to trader - I would like to do a poll though on the following:
What is the lowest timeframe upon which you would consider a TL relevant?
Personally I have not really used TLs much below the daily TF to look for the workings within a weekly trend.
Appreciate your thoughts.
Cheers.Ignored