ER2 charts
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Humble1
Thank you for your faithfulness and posting your charts with lines daily. This is a big help. I will begin following your example next week. Perhaps we could talk over the phone so you can explain to me what is going on. One thing I really like, is your charts don't have any "squiggly" lines.
Jeff in VA
Flew home from Pirates Cove, AZ
yesterday
Thank you for your faithfulness and posting your charts with lines daily. This is a big help. I will begin following your example next week. Perhaps we could talk over the phone so you can explain to me what is going on. One thing I really like, is your charts don't have any "squiggly" lines.
Jeff in VA
Flew home from Pirates Cove, AZ
yesterday
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO
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flash9911 wrote:Humble1
Thank you for your faithfulness and posting your charts with lines daily. This is a big help. I will begin following your example next week. Perhaps we could talk over the phone so you can explain to me what is going on. One thing I really like, is your charts don't have any "squiggly" lines.
Jeff in VA
Flew home from Pirates Cove, AZ
yesterday
I use simple chart patterns as described in Edwards and Magee "Technical Analysis of stock trends" you can get the book here. http://www.edwards-magee.com/
You won't see any squiggly lines because all indicators use fixed inputs and yet price action demands a dynamic approach as the market unfolds.
If you have any questions, post them here and I will answer them as I can. Thanks.
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this chart shows where a previous resistance level was broken and then used for support, also shows a new resistance level has broken, and shows where to expect resistance again. this is normal action as the trading encounters each level of resistance after a sell off, the old resistance will turn to new support if the bulls are gaining strength. stops are set just under the last minor bottom { LMB} each top and bottom are confirmed using the 3 bar rule. 3 candles must trade above a low or a high in it's entirety to confirm tops and bottoms. Breaking a level of resistance or support doesn't mean anything without some sort of confirmation. Tactically trades can be taken before there is any confirmation, but risk is higher than those trades that do offer good confirmation.
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here is a good example of price action and reversals
this works in any time frame. the key is to identify the reversal points and to deal with them. no prediciting.
http://blog.afraidtotrade.com/the-sweet ... e-targets/
below is a diagram of the trend change setup, it was drawn decades ago, yet the method is the most dynamic of anything I have ever seen. Lots of work, and never seen anyone code it yet. That doesn't mean it can't be coded, just I haven't seen it.
if I am correct, the market is working on confirming breakout of the base and is now at point K just above the sweet spot in the data for the 3000 tick chart. we will see.
http://blog.afraidtotrade.com/the-sweet ... e-targets/
below is a diagram of the trend change setup, it was drawn decades ago, yet the method is the most dynamic of anything I have ever seen. Lots of work, and never seen anyone code it yet. That doesn't mean it can't be coded, just I haven't seen it.
if I am correct, the market is working on confirming breakout of the base and is now at point K just above the sweet spot in the data for the 3000 tick chart. we will see.
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