PowerX Strategy "PowerZ"

[IgazI]

Why do I have lines on my chart?

Because I am asking a specific question: where is price in relation to the previous daily midpoints?

Not hocus pocus, not what happened last week on a Tuesday morning, not subjective nonsense, . . .

[kiwiarian]

I am surprised by how many people do not know that randomly picked 'monkey-dart' price levels are just as good as your hand-picked price levels.

Scammers use this 'cup and balls' bullshit to trick people into thinking they're special. . .

Try it for yourself:
- go back as far as you can into the past
- drop a line around the middle of the chart
- drop 5 lines above
- drop 5 lines below
- scroll forward to the present.

You're welcome

THEN
Randomly_dropped_in_past.png
NOW Oh me gosh. . .me sooo guuud!
random_lines_today.png

Yeah I watched a youtube video of random drawn lines a while ago and we can always make a story up about them.
Having said that Bambino shared this picture the other day that makes things click a bit for me, shorter lines/levels and has the same Up, Down that you mention a looooooooooooootttttttttttt.
I think its an old Mo production.

mo-linesUP.jpg (149.01 KiB) Viewed 793 times

[IgazI]

Yeah I watched a youtube video of random drawn lines a while ago and we can always make a story up about them.
Having said that Bambino shared this picture the other day that makes things click a bit for me, shorter lines/levels and has the same Up, Down that you mention a looooooooooooootttttttttttt.
I think its an old Mo production.

At the end of the current day, the close, price should either be above the previous high or below the previous low.

Until then we have a sort of clock where each black line represents 6 hours and the dashed lines widen towards the previous extremes:

The previous day closed above its midpoint so anything below the green dashed line is 'down'.

If price crosses the red line and then heads back toward the middle then it might be making its way back towards the green line.

Said simply:
- at the beginning of the day the green dashed line was at the midpoint
- anything above the green dashed line is up
- price above the high of 2 days ago is longer term up

You might notice that it is hard to tell exactly what is going on from a daily chart, and this is why you would have intraday charts going back 2 days and plotting the current day.

PS: if price is responding to something in the ancient past then it is still going to do all of the same things today:
- is above or below midpoint
- is above or below dashed line
- is higher or lower than an extreme

day_time_price.png (32.9 KiB) Viewed 759 times

[IgazI]

This is about what I expected out of today. . .

meh.png (118.48 KiB) Viewed 747 times

[IgazI]

A lot of selling pressure entering the market. . .

PS: I got an average of $0.40529 out of 25030 ADA.

So now what I do is just watch it from my exit price:
not sit in front of the chart all day "watch it", you know what I mean. . .

what_now_dis.png (75.41 KiB) Viewed 716 times

winter_2023.png (81.7 KiB) Viewed 694 times

[Yirbu]

I am surprised by how many people do not know that randomly picked 'monkey-dart' price levels are just as good as your hand-picked price levels.

Scammers use this 'cup and balls' bullshit to trick people into thinking they're special. . .

Try it for yourself:
- go back as far as you can into the past
- drop a line around the middle of the chart
- drop 5 lines above
- drop 5 lines below
- scroll forward to the present.

You're welcome

THEN
Randomly_dropped_in_past.png
NOW Oh me gosh. . .me sooo guuud!
random_lines_today.png

The funny thing is if you hide the price, by giving the line chart the same color as the background, then you draw the horis, and make price visible again.....lookie lookie, you have your S&R lines. "It's a miracle!"

[IgazI]

The funny thing is if you hide the price, by giving the line chart the same color as the background, then you draw the horis, and make price visible again.....lookie lookie, you have your S&R lines. "It's a miracle!"

It's a bad joke, isn't it?

I forget who said it, but someone once said that at some point a man needs to find religion. . .it might have been Thomas Dorsey. . .

by that he means that a trader must be grounded in facts, he must have resolve, and he must be able to act decisively as the word of god (the chart) is revealed to him.

[IgazI]

Today has been like. . .

[IgazI]

We'll see what it looks like tomorrow.

update.png (87.1 KiB) Viewed 613 times

[prochargedmopar]

I am surprised by how many people do not know that randomly picked 'monkey-dart' price levels are just as good as your hand-picked price levels.

Scammers use this 'cup and balls' bullshit to trick people into thinking they're special. . .

Try it for yourself:
- go back as far as you can into the past
- drop a line around the middle of the chart
- drop 5 lines above
- drop 5 lines below
- scroll forward to the present.

You're welcome

THEN
Randomly_dropped_in_past.png
NOW Oh me gosh. . .me sooo guuud!
random_lines_today.png

Been there, done that well over a decade ago.
Better yet. Drop some random lines on the highs/lows of monthly and weekly charts. 10-15 should do it.
Then drop to m1 and trade to your hearts content.

Same thing. heheheeheheheh

But DAMN if it doesn't trick the $h!t out of ya.