I humbly disagree with that. I canot "predict" TLs, I have to see at least 2 points for a line. TLs, as S/R levels can be visited many times. Example bellow. This triangle was a setup - break-pullback-continuation on any side. This morning - entry long from 5545/5550, up to Yesterdays high at 5588/5590.
AS expected from such a evil, stubborn level the last time we encountered it: the 1.2520 bounced the eur/usd...for now...anyways.
Don't like it now
1.2950
1.2800
1.2650
1.2570
1.2550
1.2500
1.2455
1.2445
1.2440
The one at 1.2500 is supposedly quite large.
speculators with trillions look for liquidity at that spot? i have a cursory familiarity with "order flow" trading methods...i am not adept at it to postulate potential spots for stop hunting.
#2. My setup charts entry lines are all on h4 and above....i am very fastidious about that. Have i used trendlines on lower time frames? YES--for the purpose of fine tuning entry points on my entry chart. I have a setup chart and an entry chart.
Absolutely no way i am interested in trendlines within higher TF consolidation with all sorts of interfering...
) I just wanted to point out that specific situation when price didnt reached TL - wihtout context (all the horizontal levels and etc...). SO when talking only about micro TL's under angle, as you marked on my chart - there is two or three touches and bum - micro trend changes, then again - two touches and bum - changes again - if you want to trade it you must catch that very first or secound touch!
Is the EUR/USD reacting again to the evil 1.2520 area? again? not again!
ahahahaha.
Love him too. Farage is great. I think he was trading for like 20 years, so he actually knows what he is talking about. (although as a polititian he is only trying to get votes).
T
Ranging could kill trend trader, but not scalpers
Ranging could kill trend trader, but not scalpers
2586 - 61.8 of that big red daily candle + 88.6 from another swing.
I'm shorting at 2586/2
Yep. Got my hammer ready. Need PT and co.
