Never Candle Again

[IgazI]

I've attached a picture describing how to trade a chart.

Human_vs_Zombie.png (19.39 KiB) Viewed 3192 times

[aliassmith]

Sets vs Lines.

They are not even close to being the same thing;

both are trying to summarize the movement of the slices (the columns), one is better at it than the other.

The candle chart is going to do the same as the line chart; skip most of the data and then pretend to know what's going on.

line_chart.png

No I wouldn't think they are the same. I was thinking more about every time the line plots it locks in a close. From my understanding you group x amount of closes to make your boxes.

[TheRumpledOne]

These columns are 40 minutes and the sets are 2 hours.

Each box is like snapping a photo of paint drying; how often do you need to take a picture to observe what you desire to see?;

that's all you are doing when selecting a chart period.

MULN_M40.png

Way too funny!!

[TheRumpledOne]

TRO001.png (51.55 KiB) Viewed 3040 times

Does showing the highs and lows that have not been crossed show the same? Trying to understand.

[Don_xyZ]

Well, I struggled with setting my SL if I don't use those extra info.
How do you suggest setting the SL with line chart?
Also, how do you know how strong a candle is if you don't have the wicks?

[IgazI]

TRO001.png

Does showing the highs and lows that have not been crossed show the same? Trying to understand.

If price does not cross your lines higher then price will not close higher.
If price does not close higher then it must close lower.
If price closes lower then it is going down.
So, sure, TRO, it makes sense. but it is not 'the same'.

Don had a question about stops. . .

if you enter because price touched a line then you should exit because price touched a line.

If you enter because price closed over a line then you should exit because price closed over a line.

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[IgazI]

Well, I struggled with setting my SL if I don't use those extra info.
How do you suggest setting the SL with line chart?
Also, how do you know how strong a candle is if you don't have the wicks?

A wick is weakness, not strength.

When did price ever rise on wicks or steadily move lower without closing lower?

I do not use line charts. I use frames.

Yes I use closing prices, yes closing prices can be used to make a line chart, no I am not making a line chart.

I trade price moving from one frame to the next, similar to a Darvas Box.

[IgazI]

This is just a little reminder of what the topic of the thread is

onTopic.png (22.65 KiB) Viewed 2990 times

[IgazI]

Removed.

[IgazI]

A chart has movement (letters), bars (pages), and frames (chapters);

dividing is how your brain digests information.

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