Charting with Median Lines

Inter day chart

GBP/USD 1hr

GBP/USD 1hr

GBP/USD 1hr

GBP/USD 1hr

GBP/USD H1 (End of the week)

A picture is worth a thousand words

GBP/USD H1

I can see a lot of parallel and crossing lines all over that chart, touching every possible level. How do you determine your entry and exist? Also how do you determine where starting points should be and do redraw the channels are price action develops? I do understand how median line and channels supposed to work, you don't need to explain that.

Frame price action with median lines (which are the main price attractors) and the quartiles will also resonate accurately.
If you are an interday trader, the 1hr tf shows many opportunities, from ML to ML or quartile, s/r line, previous high/low... 40 pips here, 10 pips there.

Tim Morge, a top notch professional trader and instructor, has a webinar called: Entry, Trade Management and Exiting a Trade
https://interactivebrokers.webex.com...2Fframe%2Fg.do

He also wrote: How to Develop Your GPS for Chart Reading which will guide you in the right direction.

GBP/USD H1

Scalp trade over 50 pips

GBP/USD H1

The downward median lines aren't needed anymore.

GBP/USD H1

Scalp trades 3 x approx. 33 pips = almost 100 pips TL

GBP/USD H1

New direction... maybe.

GBP/USD H1

Price has an 80% probability of reaching the ML and it did here.

USD/JPY Daily

Location

With US elections coming up Tuesday November 8th, the market might get very volatile so be alert and on guard for possible flash crashes and other extreme price movements. Geopolitical events do affect the markets. For example, this year we recently witnessed the volatile moves from the results of the Brexit referendum.

So on the chart usdjpy you presented above, why did you not enter at 103.067 when the pair reached very bottom of the channel, as per your markings?

That relates to my previous question, which you did not answer: how do YOU personally etablish, which level to enter, if your channel crosses every posible level on the chart and how do you establish where is starting point of the channel?

Note: if you entered on your own markings, you would be -100 pips by the end of the day.

And that brings me to a conclusion that this method as any technical method by itself is doomed to fail. Doc you provided shows only couple cherrypicked examples, whch really proves nothing. I could find as many examples of failed entries with this method, including charts you posted before. Opening paragraph of that article paints very rosy fantasy about predicting future reversals... oh yeah ,)

You asked why I didn't enter the trade but if you had looked at that USD/JPY chart, you would have seen I entered 2 trades. It's there. On that chart!

You then assume I got stopped out after price dropped. This method can be daytraded or swing traded. Who is to say 100 pip stop loss is too big when your target is 7,000 pips away. It all comes down to a personal preference for each trader on how to deal with what is presented at the time.

You complained I didn't answer how I enter and exit a trade and I linked you to a webinar that would help you understand that in specific.
You stated previously: "I do understand how median line and channels supposed to work, you don't need to explain that." How can you understand it and still claim it doesn't work? It is very simple: bottom of channel buy, top of channel sell. If channel is downward, look for sells. If upward, look for buys. Good trade management skills are necessary.

You, I suppose, read Tim Morge's article and find nothing of value. That's a shame. It's almost a 100 year old method and you think it's fantasy. I don't think it is. This is a good method. There's no predictions here, only probabilites.

Your conclusion was that this method doesn't work. All I can say is lets agree to disagree.

Here are the day trades. 37.5 pips on one trade, 30 pips on the other. Total 67.5 pips.

That's a poor uneducated statement...Look at the professional Quants like Robert Carver and the like.. these guys consistently produce above benchmark annual returns..Totally automated trading..

As for Alex, I've known him for quite a few years now and he is a very competent trader...You might do well to listen to what he has to say ?.

I've just read some of your posts... Maybe if you approach the forum in a positive manner you may benefit more from it ?

Cheers and all the best ..

Hi J, nice to hear from you.
About this poster, he is new to ff. I've read some of his posts too and he seems to be falling into the category of a troll. Hmm...
If so, self help can work but only if he believes there's room for improvement. The probabilities are there and yes, there's hope.
Trolls seek attention. General advise is to ignore them.
Here's a short interesting article on trolls:
https://www.psychologytoday.com/blog...hs-and-sadists

Nuff said.

USD/JPY Daily