DislikedHi, I read a post that was written awhile back by jarroo that says to have pre-drawn levels on your charts, and wait for price action to manifest on these levels. the problem is, there are so many pivot levels, if I wanted to, I can use a daily chart or a H4 chart, and draw 10+ lines on my chart, and have levels of pivot every couple of 100 Pips, this often makes me think that ANY TRADES would have no space to run.
how do you guys take care of this problem? jarroo? how many pre-drawn pivot levels do you have on your charts? sometimes, I feel...Ignored
Dislikedyeah this is a problem most people encounter at 1 time or another. i think the answer lies in the prioratization of the levels. there may be many Minor levels you can draw on your chart but not so many major ones. Usually the strongest show up on the higher TFs, and as you go down the TFs they tend to be more intraday levels.(good for helping with trade management but not good for taking trades from) This is also a big generalization though. Remember that although you can see a level on your chart doesnt necessarily mean you want to be trading from...Ignored
Hey halfstep . . this post from jon is great . .I couldn't have said it better . great post jon-o . . .
Indicators show the past. Price Action "Indicates" the future.