[thalestrader]

Originally Posted by MidKnight »

I am struggling with this approach, and that shouldn't be possible if it is a 'simple' method.

Originally Posted by forrestang »

I would say with your comments though, that has been my one criticism of the thread from the beginning...... The REASON, or more appropriately the CONTEXT of the trade. ... Thales, I know you don't go through and find S/R levels in the manner maybe some of us do. I.e. the day prior. But would you say that ALL of your trades are initiated in an area of some form of S/R?

Let's see if we can determine the source of the struggle and frustration. Let me ask you (and this is for MidK, Forrest, and anyone else who cares to answer) what do you think of the long GBPUSD trade I posted this morning? Forget about the fact that it was a winning trade. If you were watching, did you see it as I did? Would you have taken it if you had seen it? Why or why not?

Best Wishes,

Thales

EDIT: PS In other words, do not focus on what happened after the trade triggered. Let's focus on what happened before the trade up to the moment of decision.

[Dinerotrader]

Quick look at 6B - British pound.

[MidKnight]

Originally Posted by thalestrader »

Let's see if we can determine the source of the struggle and frustration. Let me ask you (and this is for MidK, Forrest, and anyone else who cares to answer) what do you think of the long GBPUSD trade I posted this morning? Forget about the fact that it was a winning trade. If you were watching, did you see it as I did? Would you have taken it if you had seen it? Why or why not?

Best Wishes,

Thales

Yes I saw it, but there was no S/R to act upon plus I was short gbp/chf at the time. I saw the pattern happening on gbp/chf, but again there was no specific support to act upon and I was working off the assumption that once R is tested, it will go to next S.

With kind regards,
MK

EDIT: Thales, while you may call that testing support, the zone is too large for me to trade off and it is only the 15m support view. Sure sometimes this view is valid, but is it reliable? Is it more reliable looking at the more obvious bigger picture S/R? I had thought it would be....

[Gabe2004]

Originally Posted by thalestrader »

Let's see if we can determine the source of the struggle and frustration. Let me ask you (and this is for MidK, Forrest, and anyone else who cares to answer) what do you think of the long GBPUSD trade I posted this morning? Forget about the fact that it was a winning trade. If you were watching, did you see it as I did? Would you have taken it if you had seen it? Why or why not?

Best Wishes,

Thales

EDIT: PS In other words, do not focus on what happened after the trade triggered. Let's focus on what happened before the trade up to the moment of decision.

I would not have taken the trade because there was not enough separation between the L-H-HL.

For some reason I was under the impression that there has to be some bars between the L bar and the H bar and between the H bar and the HL bar to make it a valid setup.

Gabe

[thalestrader]

Originally Posted by MidKnight »

Yes I saw it, but ... I was short gbp/chf at the time. I saw the pattern happening on gbp/chf

That's something for you to think about, perhaps.

Originally Posted by MidKnight »

Yes I saw it, but there was no S/R to act upon ... again there was no specific support to act upon and I was working off the assumption that once R is tested, it will go to next S.

EDIT: Thales, while you may call that testing support, the zone is too large for me to trade off and it is only the 15m support view. Sure sometimes this view is valid, but is it reliable? Is it more reliable looking at the more obvious bigger picture S/R? I had thought it would be....

Well, here is a series of charts of the GBPUSD. I have kept comments to a minimum. You know what the rectangles represent to me when I draw them.

What do you think of what you see here?

Best Wishes,

Thales

[thalestrader]

Originally Posted by Gabe2004 »

I would not have taken the trade because there was not enough separation between the L-H-HL.

For some reason I was under the impression that there has to be some bars between the L bar and the H bar and between the H bar and the HL bar to make it a valid setup.

Have I said that somewhere? I'm not saying I didn't, but it doesn't sound like me. I'd like to see the example in which I said that t see why I would have said that.

Best Wishes,

Thales

[sw9]

Originally Posted by thalestrader »

Let's see if we can determine the source of the struggle and frustration. Let me ask you (and this is for MidK, Forrest, and anyone else who cares to answer) what do you think of the long GBPUSD trade I posted this morning? Forget about the fact that it was a winning trade. If you were watching, did you see it as I did? Would you have taken it if you had seen it? Why or why not?

Best Wishes,

Thales

EDIT: PS In other words, do not focus on what happened after the trade triggered. Let's focus on what happened before the trade up to the moment of decision.

Yes I would have taken the trade:

Price just bounced off higher time frame support near 1.6666

Formed a higher low in the direction of the trend.

Next larger time frame resistance near 1.6740


Steve

[MidKnight]

G'day Thales,

Thanks for all the charts. I'm not sure what you are alluding to in recap4 over what is shown in recap3. The same goes for recaps 7 & 8 with the light blue rectangle.