PowerX Strategy "PowerZ"

[IgazI]

We draw horizontal lines, but S/R is more like an area of horizontals with gaps between them:
this is important because, if you think of S/R as just one price, the oscillations around that price are likely to confuse you:

When you're trading "away" from support or resistance, sometimes you're still well within the range of that S/R; you're not "wrong" or "early", you're just not free

If you look at the H4, you might instead think:
- S/R tends to form around closing prices.
- a 'pattern' is not a 'breakout', and a breakout is not a pattern.
- price can break a pattern in either direction.
- S/R tends to occupy two or three places (red circles); SSS or RRR.
- I need something on the H4, some reason to flow in a particular direction.

S/R helps us to target low-risk areas to merge into larger pictures, and larger pictures are the result of all the decisions that were made within the smaller pictures; larger charts bring everything into focus.

Now you can see why it is so easy for you to get stopped out when trading a price level, and why you need to either take profit quickly or scale into your hold.

If you know how support and resistance usually takes SHAPE, then that will add confidence to your holds.

sav.jpg (113.29 KiB) Viewed 2631 times

[BambinoFlex]

We draw horizontal lines, but S/R is more like an area of horizontals with gaps between them:
this is important because, if you think of S/R as just one price, the oscillations around that price are likely to confuse you:

When you're trading "away" from support or resistance, sometimes you're still well within the range of that S/R; you're not "wrong" or "early", you're just not free

If you look at the H4, you might instead think:
- S/R tends to form around closing prices.
- a 'pattern' is not a 'breakout', and a breakout is not a pattern.
- price can break a pattern in either direction.
- S/R tends to occupy two or three places (red circles); SSS or RRR.
- I need something on the H4, some reason to flow in a particular direction.

S/R helps us to target low-risk areas to merge into larger pictures, and larger pictures are the result of all the decisions that were made within the smaller pictures; larger charts bring everything into focus.

Now you can see why it is so easy for you to get stopped out when trading a price level, and why you need to either take profit quickly or scale into your hold.

If you know how support and resistance usually takes SHAPE, then that will add confidence to your holds.

sav.jpg

You say it's usually "SSS" or "RRR" but I see it like this - From my understanding, it's AFTER the breakout, that the Top becomes "S"
Is that what you mean or what am I missing?

[BambinoFlex]

Or Are you saying support is the whole thing?

igazi2.png (225.18 KiB) Viewed 2520 times

If so, do these 4 patterns fit inside the whole thing to create SSS in the support scenario?

support.png (13.66 KiB) Viewed 2520 times

[IgazI]

Or Are you saying support is the whole thing?
igazi2.png


If so, do these 4 patterns fit inside the whole thing to create SSS in the support scenario?
support.png

The three areas are one 'thing'.

Don't overthink it, just start with dividing the chart into patterns and breakouts.
and when you see one of those scenarios, recognize that you are in a familiar situation.

Many times, a fast move that retreats will have stopped short of the actual S/R level, so keep an eye out for that as well.

shape_of_support.png (20.14 KiB) Viewed 2458 times

[BambinoFlex]

Or Are you saying support is the whole thing?
igazi2.png


If so, do these 4 patterns fit inside the whole thing to create SSS in the support scenario?
support.png

The three areas are one 'thing'.

Don't overthink it, just start with dividing the chart into patterns and breakouts.
and when you see one of those scenarios, recognize that you are in a familiar situation.

Many times, a fast move that retreats will have stopped short of the actual S/R level, so keep an eye out for that as well.

shape_of_support.png

Yes, the patterns are my Zen . The breakouts are my

- I need to overthink it...so I can later simplify it. -

This is how I see the patterns

"D" is one I normally wouldn't draw - I would consider it a smaller time frame pattern to add to my trade in expectation of getting out at "B"

shape_of_support.png (29.02 KiB) Viewed 2452 times

[IgazI]

**CAUGH**

https://www.kitco.com/news/2023-10-17/M ... rency.html

[IgazI]

Yes, the patterns are my Zen . The breakouts are my

- I need to overthink it...so I can later simplify it. -

This is how I see the patterns

"D" is one I normally wouldn't draw - I would consider it a smaller time frame pattern to add to my trade in expectation of getting out at "B"

shape_of_support.png

It's really difficult, for me at least, to explain things on a forum.

It's probably better that you explain things to yourself, as you are the one who has to see 'the things'.

I see a tall bar closing in the first red (), and then a break lower followed by a break higher in the following candle:
the previous close was the "pattern", the "not breakout", and price stopped at a resistance within an expected range from that pattern.

If you look at "shape" chart, price proceeded to take the shape of a c-like pattern.

Price reacted to the previous level in the green '()', but, just as with a Ross hook or fractal pattern, 'resistance' doesn't mean "sell".

The "IDK?" is just price returning to the "D" level.

I try to explain things as simply as I can, it just never seems to work out for me

[bb01100100]

**CAUGH**

https://www.kitco.com/news/2023-10-17/M ... rency.html

Wow that’s a coincidence.. (but if you’ve read UNSONG by Scott Alexander, then you’ll know there are no coincidences, heh)

[BambinoFlex]

Yes, the patterns are my Zen . The breakouts are my

- I need to overthink it...so I can later simplify it. -

This is how I see the patterns

"D" is one I normally wouldn't draw - I would consider it a smaller time frame pattern to add to my trade in expectation of getting out at "B"

shape_of_support.png

It's really difficult, for me at least, to explain things on a forum.

It's probably better that you explain things to yourself, as you are the one who has to see 'the things'.

I see a tall bar closing in the first red (), and then a break lower followed by a break higher in the following candle:
the previous close was the "pattern", the "not breakout", and price stopped at a resistance within an expected range from that pattern.

If you look at "shape" chart, price proceeded to take the shape of a c-like pattern.

Price reacted to the previous level in the green '()', but, just as with a Ross hook or fractal pattern, 'resistance' doesn't mean "sell".

The "IDK?" is just price returning to the "D" level.

I try to explain things as simply as I can, it just never seems to work out for me

You're doing great Igazi. It's from the my side that things get scrambled.

I know you said that it depends on the viewer, but I want to understand what you see. You're probably aware, but "in's"/Patterns are every where. I can make them as small as I want or as big as I want. As you've mentioned, the closes, anchor the optics. For me, it's usually a "Close - Wick" pattern that creates the "in" for the chosen time frame.

Just trying to get my eyes right - is either option here close to what you're trying to say?

[IgazI]

I think that I'm going to buy another 20-25 grams of gold tomorrow. . .
I'm way too heavy on silver and platinum.

And the gold chart is looking pretty sexy, if you ask me.

GOLD.png (7.48 KiB) Viewed 2209 times