support and resistance
Posted 08-13-2008 at 09:25 AM by wasp
They are the pinnacle. End of. I know that but...
I would and should have made 640 pips of this drop and should still be in. I have actually given back 2 weeks of gains. Why?
In a nutshell, I had misdrawn my S/R. I see also how a smaller timeframe could compliment and help but the vital part I need to perfect is my S/R levels, especially when the prior S/R is so far back.
Had I placed the levels 5 points higher on each level, it would have been sweet. Now, is that the luck of the draw or is it my fault?
The question for myself is...
Do I reassess the levels and how I use them, despite the success over the last few months?
Do I use a shorter timeframe as a filter?
Do I carry on as was and take this week as a kick in the knackers and carry on regardless?
I would and should have made 640 pips of this drop and should still be in. I have actually given back 2 weeks of gains. Why?
In a nutshell, I had misdrawn my S/R. I see also how a smaller timeframe could compliment and help but the vital part I need to perfect is my S/R levels, especially when the prior S/R is so far back.
Had I placed the levels 5 points higher on each level, it would have been sweet. Now, is that the luck of the draw or is it my fault?
The question for myself is...
Do I reassess the levels and how I use them, despite the success over the last few months?
Do I use a shorter timeframe as a filter?
Do I carry on as was and take this week as a kick in the knackers and carry on regardless?
Total Comments 1
Comments
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Good questions and since I have experienced the same issues with misdrawn S/R, I'd interested to see how you go about solving the problems that arise from these misconceptions.
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