[wasp]

Any other die hard traders about on this sunny bank holiday!!?

[myrtleturtle]

Originally Posted by wasp »

Any other die hard traders about on this sunny bank holiday!!?

no.
sunny?

[wasp]

Sarcasm is the lowest form of wit, but I can't help it! Of course it is pissing it down!

I'm just going to post a chart here for firewalker and then head to the chat lounge room in case anyone else is as bored as I!!

[myrtleturtle]

wasp, how do you draw your trend-lines?

I can see the levels, and am getting used to seeing them. I see them as tight Inside bars at extremes, waiting for an explosive break-outs.
I have begun to be wary of them, and over-ride my arbitrary MAs.

The trendlines I draw either by joining lows to lows, or highs to highs.
Havbe tried closes to closes, and get slightly variant lines, but nothing too different.

But, you seem to be joining closes to lows, etc.

I either use one method or t'other.

Have looked at your journal, but still not any the wiser.

I can see the 162.3 zone, and where we are now is the 50% retrace of that initial upmove.

EDIT: you have been very generous with your charts and views. You should demand that we show our working out first, just to check we are getting it right. Will try to post a S/R and TL chart soon.

[myrtleturtle]

GBPCHF. I dont trade it, but tis one you havent posted, so its all my own work.

Blue lines are 4-hr S/R lines. joining horizontally lines were most seem to hit.

the second chart is on 1-hrs. the yellow zones are tighter ranges relative to previous action, or outside bar with many bars action within it, also possible areas of breakouts.

the trendlines are high-high, and close-close. essentailly same angle, but at different places.

The ATR(4) is just to show low values, showing tight ranges.

sorry if I am going in different directions, but I reckon tight ranges indicate indecision, and likely places for decent breakouts, where I would set my MAs aside.

feel free to ridicule.

[wasp]

Sorry guys, somethings come up and gotta shoot but will be back later to reply...

[wasp]

Originally Posted by myrtleturtle »

wasp, how do you draw your trend-lines?

I can see the levels, and am getting used to seeing them. I see them as tight Inside bars at extremes, waiting for an explosive break-outs.
I have begun to be wary of them, and over-ride my arbitrary MAs.

The trendlines I draw either by joining lows to lows, or highs to highs.
Have tried closes to closes, and get slightly variant lines, but nothing too different.

But, you seem to be joining closes to lows, etc.

I either use one method or t'other.

Have looked at your journal, but still not any the wiser.

I can see the 162.3 zone, and where we are now is the 50% retrace of that initial upmove.

See chart attached.

Originally Posted by myrtleturtle »

EDIT: you have been very generous with your charts and views. You should demand that we show our working out first, just to check we are getting it right. Will try to post a S/R and TL chart soon.

I'm not doing this for you to copy me Myrtle! the intention was to rouse discussion and for people to poke holes in what seems to me to be technical analysis 101. I don't mind of course if you do do the same but don't take this as me trying to post the holy grail, just musings for what I look at.

Originally Posted by myrtleturtle »

GBPCHF. I dont trade it, but tis one you havent posted, so its all my own work.

Blue lines are 4-hr S/R lines. joining horizontally lines were most seem to hit.

the second chart is on 1-hrs. the yellow zones are tighter ranges relative to previous action, or outside bar with many bars action within it, also possible areas of breakouts.

the trendlines are high-high, and close-close. essentailly same angle, but at different places.

The ATR(4) is just to show low values, showing tight ranges.

Attached my view of GBPCHF and slightly different. Will draw lines all over yours shortly and post it back up... see how we differ!

Originally Posted by myrtleturtle »

sorry if I am going in different directions, but I reckon tight ranges indicate indecision, and likely places for decent breakouts, where I would set my MAs aside.

feel free to ridicule.

Tight ranges are nothing more than a lack of volume as its a public holiday here and over in the states is all. Just look at a larger view to see we are still closer to resistance (underneath) so as 9/10 price will go from level to level, EJ should still head for 162.30 imo.

I have also attached a view of the monthly charts of EJ using exactly same view plus an array or markets.

All use large frame supply and demand levels couple with shorter term trends for defining when supply/demand is taking over and getting the best entry possible.

[wasp]

At the moment, until a decent short trend line cross @ upper 163.04 region appears, I am still long from 162.73 as it became more of a solid level over the last few bounces...

Whilst larger TF's suggest down, I go by what the chart tells me so waiting for a break or rejection/crossover...