I put up the 60* line way before and look where price is right now. I think I might have been able to predict this one since there is no indication of price slowing down into the 30* channel.
Is it going to correct back into the 30* channel? That's my guess.
MO's MBT Micro
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- Braathen
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If you in your us u have me included.. i hate to break it to you but.. i would have taken that trade lines or no lines.. in no way did i base that long on those lines. Was purely based on a daily chart. Here is a much simple version of what i did just to clarify
I was just expecting a bounce at the marked area.
I was just expecting a bounce at the marked area.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-
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- newark18
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MO, is it possible just to trade with DOP without using anything else like horizontal lines?
Also, I am not going to post another picture but guess where was the next resistence? That's right, the top of the 30* channel.
MO, can you please tell me if I am going in the right direction? I would like to know if I am crazy or not.
Also, I am not going to post another picture but guess where was the next resistence? That's right, the top of the 30* channel.
MO, can you please tell me if I am going in the right direction? I would like to know if I am crazy or not.
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newark18 wrote:MO, is it possible just to trade with DOP without using anything else like horizontal lines?
Also, I am not going to post another picture but guess where was the next resistence? That's right, the top of the 30* channel.
MO, can you please tell me if I am going in the right direction? I would like to know if I am crazy or not.
You saw price rising at 60* and had the idea that price would move back into the 30* channel (within which was equilibrium).
And that is the point, to see in angles.
It is not about drawing diagonal lines but FEELING price action...
WHICH YOU DID!
Again, you are not trading off of a line per say but are getting an idea in your head of what price may do.
You take that information and apply horizontal lines while looking for price action that aligns with your idea.
Lastly I will say that you should only have 1 line on your chart at any given time. This means that you must use learn to see the angles with your eyes and continue to feel the price action.
GJ Newark18, I am making a note of huge success:
http://www.youtube.com/watch?v=MznxaqH1 ... re=related
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