The Really Useless Thread

Negatory. Let me know if you find one, though...sounds cool.

try this one ...

can do maybe send u a razor too

Thanks Ally

hello bro. nice trades

euro heading 3000 i think but lets see

Hmmmmmmmmmmm.

Nope. Don't get the reference.

Ah well...nice gesture, I'm sure.

How're you doing buddy?

She'll cut through 1.2930 like cheese....easily...me thinks

maybe he's referring to your hair? .... LOL (avatar)

Its off to a fine start! 1.2985 may catch my eye for a sneaky short. Should be pretty overbought if it carries on like this when It gets there.

8HR TL comes in about 2944. may pause

You're a genius GM!!!

New avatar...forgot all about it!

Out on the spike to H1 200...



Will reset below somewhere...maybe closer to 1750, though.

different levels and different entries but same result

3 X 12

will post chart at LDN close

a tip: try to pick a momentum candle for entry, often you will hit TP before the candle close or very soon afterwards

momentum candle: forming in the desired trade direction making a new high/low , the momentum candle will often be a bigger range candle because the underlying price momentum driving it

updated 12hr. pass 2944 and should hit 1.3

looking at 2964 to cap if 2936 gives way

intraday outlook only

Ally following our conversation,

Sorry for the confusion ...let me rephrase....this just refers for the levels and not how to use them.

From a strictly TA point of view, what you are assuming/betting (with or without noticing) with your levels is a certain intraday pattern (usually algorithmic). In general you are "dividing" a grid every 20 (sometimes 40) ticks/pips and using these areas not only for trigger but also to "pace"/"take the pulse" of the intraday ebb & flows (2 beat up 1 down, 3 up 1 down, or whatever).

What I was referring in my previous post is that modern (and most) indicators use the same parameters either to identify a range of to use them in the calculation for their indis. Typical examples are TA that use fib numbers (in whatever form), others they divide in the classical 1/3s (Dow theory, etc), others in 1/4 like you (modified Dow), others 1/8 which is (mostly Gann) or higher like 1/64 (Murray Math), and etc etc, etc.

My point is not judging the validity of these assumptions or if this works or not but was to highlight that you can define these levels way in advance without waiting for London, etc or whatever else if you use a defined daily range. For example in your case. The obvious option will be to just plot a grid every 20 ticks to find the levels (00,20,40,60,80,100) but as you noticed those values are not that solid (because they are 2 obvious maybe?).

So you are waiting (I don't know the exact technicalities of what you are doing for this but is irrelevant) for a confirmed range to see 2 levels at least holding in combination with the London opening range (40 ticks at least or etc) to validate that range and then after start considering trading.

My point was that if you use the daily range (this is very basic TA in my books) you can define those levels before hand. It just struck me because the last couple of times you posted that you don't have the dustbin levels yet (or that they are not working, etc), I checked the intraday charts and they were already in charts... Look I don't trade this so I don't know much about the details.

Just check if the daily range has extended (on the last roll). If not you keep the same levels (a.k.a inside bars), if they have, mark from that prev extension to the 1st retrace intraday (it will happens +/- before Tokyo opens) ...and there you have your dustbins) use proper intraday TF (not M1) at least M30 but not more than a couple of hours (otherwise you may be defining the weekly dustbins instead of the daily ones)....

As you know and as with any TA tool, the money is not in defining levels but in knowing how to use them properly (as you can see in this thread with, just ask Glen for Dustbin or Gator for a mofu or PTL for a mid, and the list can go on ..).the money is somewhere else. The point was only about TA and giving you my 2 cents that you can have the levels very well defined before you start your trading ...

I hope it helps and is not 2 confusing.

sisse

mornin ... you been dustin? i had to test myself to see if i could count higher than 12 so i took one trade that worked out ok. will post chart at LND close too

Out on the spike to H1 200...



Will reset below somewhere...maybe closer to 1750, though.

Sorry for late reply...FocFac took a shit on me.

Ooooops...double post. At least the chart is there this time.