"S&R" Scalps

[BlowFish]

I think its possibly one of the simplest 'pure' ways to trade. These lines on longer term charts (a few weeks of hourly is pretty good) often mark major S/R. Especially if they have been tested a few times. Then you drop down to a lower time frame and either short if they hold or play the BO if they don't. I think most traders (me for sure) tend to try and over complicate things.

Cheers.

[dupaski]

	Quote:	walterw
	could you post a link to oattrader stuff ? I would be interested to take a look... thanks Walter.

I don't know where you would find the posts on the old Yahoo site, but here is the link to a description on NQoos's site:

http://www.trading-naked.com/Oatpoints.htm

[nycdweller]

Thanks Walter. I want to make sure I understand your comments. Are you saying that once a level is drawn it stays valid throughout the day? It doesn't matter if price passes straight through it the first time around, it could become provide support or resistance later on in the day? I guess my question comes down to knowing how long a level stay valid and when do you decide its time to erase that level off the chart? Sorry to bombard you with so many questions. I really like this topic. Thanks again.

	Quote:	walterw
	Nyc, the size of a pivot may vary... specially depending on the market volatility... spoting V`s its something I have been doing almost by instinct, so I am on the process of discovering how do I spot them... any way, a V should pop on your eyes... I will try to post as much possible here... Important levels is a diferent story, you can see a lonely pivot from 2 hours ago now being tested for the third time (example)... and if there was a great break from one of this level some hours ago and we are coming back to it, thats an important decision area... cheers Walter.

[walterw]

	Quote:	nycdweller
	Thanks Walter. I want to make sure I understand your comments. Are you saying that once a level is drawn it stays valid throughout the day? It doesn't matter if price passes straight through it the first time around, it could become provide support or resistance later on in the day? I guess my question comes down to knowing how long a level stay valid and when do you decide its time to erase that level off the chart? Sorry to bombard you with so many questions. I really like this topic. Thanks again.

Hi Nyc.. bombard as much you want ¡¡ the idea here is to grow together...

In this particular case on this trade I am actually exploring myself, what I do on a very instinct way, I want to see it in a very well formed method, it will take a couple of weeks really to get this with complete form...

let me answer with a video on next post... cheers Walter.

[walterw]

Here goes 2 videos on this.. hope this brings more light, its bringing it to me ¡¡ jejeje cheers Walter.

[nycdweller]

Hi Walter,

Thanks alot for the great videos. You have shared lots of ideas, I really appreciate it. What kind of moving average is the green line? Thank you.

Feel free to make more videos if you have the time. I really love this kind of information that is based on price action and support and resistance trading.

	Quote:	walterw
	Here goes 2 videos on this.. hope this brings more light, its bringing it to me ¡¡ jejeje cheers Walter.

[walterw]

	Quote:	nycdweller
	Hi Walter, Thanks alot for the great videos. You have shared lots of ideas, I really appreciate it. What kind of moving average is the green line? Thank you. Feel free to make more videos if you have the time. I really love this kind of information that is based on price action and support and resistance trading.

That green line is a vma from the vma research thread, I will post tomorrow this indis and templates for NT... cheers Walter.

[btrader2]

Hi Walter,

Great thread! Please continue with these videos. This is the area of Price Action we work on in an Ensign Windows Echat room I occasionally visit. Tests of the the last highs/lows and high/low failures (usually on a HTF setup chart). Then look for turns at those levels on the smaller tick chart.

[nycdweller]

Hi Walter,

I'm using Ensign software so the templates will not work. Do you know if anyone has designed a template of your moving average for Ensign? Thanks.

	Quote:	walterw
	That green line is a vma from the vma research thread, I will post tomorrow this indis and templates for NT... cheers Walter.

[Sparrow]

Hi Walter,

Great videos once again , I like that kind of setups.
Although the concept is simple, I am sure it takes quite some skill to become a master scalper like you.
Combining tape reading with price action could improve the setup a bit.

Thanks for sharing.

nycdweller: I believe you are out of luck with ADXVMA for ensign, I haven't seen one so far.

Cheers