I guess its just a preference hehe
do you trade stocks?
I forgot to say something... I trade mining stocks (pennies) ... perhaps thats why I think its more important... because theres no room for movement. And in FX, we would agree that movement isn't a stranger...
What are the Market Makers thinking?
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newschool wrote:I guess its just a preference hehe
do you trade stocks?
I forgot to say something... I trade mining stocks (pennies) ... perhaps thats why I think its more important... because theres no room for movement. And in FX, we would agree that movement isn't a stranger...
i scalped stocks around 10 years ago---- haven't traded them since
the way i see it is --- it moves between s/r to and from--- and then s can become r and vice vrsa
thats the good thing about the market---- there is no right or wrong way to trade it----
Bend over and assume the position for another 4 years of hope and change.
es/pip wrote:the way i see it is --- it moves between s/r to and from--- and then s can become r and vice vrsa
yes thats the definition of s&r.
My point was that in smaller TF, there is much more s&r created because of the high movement in Forex, wich we cannot find in small stocks
thus you can be wrong many times
theres also the fact that part of the s&r definition is an accumulation of "Volume by Price" wich is ambiguous in forex because volume is in ticks not in lots (shares)
newschool wrote:es/pip wrote:the way i see it is --- it moves between s/r to and from--- and then s can become r and vice vrsa
yes thats the definition of s&r.
My point was that in smaller TF, there is much more s&r created because of the high movement in Forex, wich we cannot find in small stocks
thus you can be wrong many times
theres also the fact that part of the s&r definition is an accumulation of "Volume by Price" wich is ambiguous in forex because volume is in ticks not in lots (shares)
but if s/r is true over any time frame --- which it is in my mind---- then it is trade-able no matter if you are looking at m5 chart or a daily
the more it moves the more s/r that is created= more opportunity
Bend over and assume the position for another 4 years of hope and change.
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es/pip wrote:but if s/r is true over any time frame --- which it is in my mind---- then it is trade-able no matter if you are looking at m5 chart or a daily
the more it moves the more s/r that is created= more opportunity
thats where our opinions differ
for me a true s&r is related to a fundamental aspect, a "feeling" the investors think price is not worth , or is at least worth. Thats why I believe there should only be few s&r, and by the nature of forex, there are many...
still maybe you are totally right, but you know for now I don't base my trades on s&r in forex. you probably look out for a conjuction too , with MZ for example.
newschool wrote:es/pip wrote:but if s/r is true over any time frame --- which it is in my mind---- then it is trade-able no matter if you are looking at m5 chart or a daily
the more it moves the more s/r that is created= more opportunity
thats where our opinions differ
for me a true s&r is related to a fundamental aspect, a "feeling" the investors think price is not worth , or is at least worth. Thats why I believe there should only be few s&r, and by the nature of forex, there are many...
still maybe you are totally right, but you know for now I don't base my trades on s&r in forex. you probably look out for a conjuction too , with MZ for example.
not a matter of who is right and who is wrong-----
i just cant see fundamentals = to true s/r points
take this for example
did the fact that it stopped right there and reversed have anything to do with the fundamentals of that country's status?
but when you say-- " a "feeling" the investors think price is not worth , or is at least worth"--- that is what i see happening at all the different s/r points-- based on nothing more than just what has happened in the past via PA.
Bend over and assume the position for another 4 years of hope and change.
thats a gap being closed, its a different situation
you quoted exactly what I said, that in that M5 chart, I dont believe the s&r are important
well if I think about it, we can have 2 definitions :
- a s&r in its purest form is a level where price bounces
- and theres also a fundamental s&r , wich is linked to the value of the asset. if you pay 5$ for a burger, you wont pay more unless it tastes really better, if theres a real difference. in that case we have a fundamental resistance...
you quoted exactly what I said, that in that M5 chart, I dont believe the s&r are important
well if I think about it, we can have 2 definitions :
- a s&r in its purest form is a level where price bounces
- and theres also a fundamental s&r , wich is linked to the value of the asset. if you pay 5$ for a burger, you wont pay more unless it tastes really better, if theres a real difference. in that case we have a fundamental resistance...
Last edited by newschool on Sun Mar 21, 2010 11:23 pm, edited 1 time in total.
newark18 wrote:1. Who are the pros?
2. How important is volume in trying to discern what the pros are doing? i figure that only momentum with good volume is an indication of what the pros might be doing.
1. the guys with all the money moving the market to the places they want it at
2. volume has its place---- i dont use it though
Bend over and assume the position for another 4 years of hope and change.
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