newscalper wrote:Karma wrote:newscalper wrote:Charts re what I was talking about.
Top line is weekly/daily bottom current H4
Now I have to say I didn't trade this one, this is just what I would be seeing
Trading pure price action. It hits the 4h "something" is rejected a little and then plummets down. If it's not trading up it's going........
As far as that particular something is concerned
I don't even see it on the chart
[highlight=red]just because there is "something" in the way
doesn't mean that price can't break it[/highlight]
Which as I said blows the entire theory of looking at higher TF zones as point of entry out of the water unless they are failed ones.
Is it a problem if they fail? You can trade them when they don't fail too
I actually assure you on that
Because we are just drawing lines on a chart, no one else knows they are there. So I don't draw them, then I don't expect reaction at something that may or may not exist
I look for a reaction and trade away from whatever caused it
just because I know where to expect a reaction doesn't mean I blindly believe I'll get one
and some times the reaction signals that it's going to break through said area