bredin wrote:tman,
the reason I asked about how wide the line is is that if it is 1 pip there will always be precisely 1 bounce from the line, except by coincidence, and will be broker dependent for that coincidence. If you count a bounce from +/- 20 pips you will get more, but as you want to allow the lines to migrate over time, counts of past bounces become a waste of time, imo.
In that pic we run the risk that from what we can see of the line we have 5 bullish and 3 bearish bounces, does it actually tell you anything?
G. (getting my head around this, slowly)
Bredin, spend a few minutes with these ideas.
In that pic we run the risk that from what we can see of the line we have 5 bullish and 3 bearish bounces, does it actually tell you anything?
It tells me there is opportunity. I'm looking at all this zoomed out on the weekly, trading the daily time frame. Price responds to these levels. I need to simplify my request, I'm making it into more than it really is.