Libertarians take on trading

[MightyOne]

"Something" is both a line and an area.

On short term charts we trade away from "something"
On long term charts we hold if price closes beyond "something"



My "something" is the open of the current & next 2xCC.

[xXx]

It took me a lot of time to accept the "something" concept

[MightyOne]

I just want to say that you do not put the "Perfect Opens" indicator on the same chart as the 2xCC; silly rabbit. =)

[Libertarian]

I just want to say that you do not put the "Perfect Opens" indicator on the same chart as the 2xCC; silly rabbit. =)

[Libertarian]

It took me a lot of time to accept the "something" concept

Care to expand upon that xXx?

[Libertarian]

God damn it I hate this s**t. I was short the USDCHF. The Daily chart shows why I was thinking short and what I was looking at. Red line is the last stop for the BO traders that will zero them out. The green line is resistance become support become resistance and a BDP out of there. So I entered and price was cruising my way. On the hr chart I entered at the down arrow. I was scared at the X but survived. I saw big momo down into support and I sat and said I should hedge this sucker and get out, but I did nothing because I thought I'm aiming for a large chart and I don't want to miss it. Of course price comes back at W and closes over my momo candle so I hop out for a very small gain assuming it was going to make some kind of range and price proceeds to take off in my direction without me. That was my trade for the week.

[xXx]

It took me a lot of time to accept the "something" concept

Care to expand upon that xXx?

I was looking at MO's "Is it closing higher or lower than something"
I thought that the grey area it was something. It was not closing higher...
So I was selling. Then there was breakout and I was on the wrong side of the market (I know that there is no wrong side of the market - Position, Position, Position, Position... )
The something was the red line and it closed higher, and higher and higher...

[xXx]

It was closing higher than something

[Libertarian]

So you mean a defined S/R? What I am struggling is the open piece that he refers to in the above. I think like a lot of things this is something that I have missed the boat on. Not paying attention to the key "moving" pieces. I have never paid attention to the open of candles. I always thought it was about the extreme. I fear I was very WRONG.

[xXx]

MO says trade of Daily+ High/Low (now 2 days extreme I think).
Many guys here say that extremes are important as well.
I have got my trading system trading renko charts which I am testing and when I looked at my entries on renko charts and Dragon lines on candles I had an Eureka moments. Those lines are using the open/close and work very well and are real eye opener for me.