forexjake80 wrote:this looks like charts on drugs, but it is just to tempting for a friday night. gonna give it a try and report back.
Its not. It tells me alot about where the impt SR levels are. The key is to know that all SR levels are extreme zones from previous waves. SignalBender in my hands has evolved to a point it does the following :
- Calculate SR zone sizes
- Plot waves from multiple timeframes into a single chart
- Plot SR zones from multiple timeframes into a single chart
The higher the timeframe the extreme came from, the stronger the SR.
If a lower timeframe and a higher timeframe is sharing the same SR area at the same time, its a very very strong SR.
If an SR is broken, its role is reversed.
This tool is combined with every good tool/advice I've came across :
- Sound money management
- SR price action squeeze play (RedSword)
- Round number Psych Zones
- Flying Buddha (PipEasy)
- Rat Zones (TRO)
- Always trade off extremes + trade the hourly bodies (MO)
- Best entry = D1 extreme, Next best entry = Price crosses over a certain line (MO)
What I've created is an semi automatic tool to identify all this and trade it. Everything I've learnt the past 3 years does fall into place nicely.
Look at what the waves + SR lines + psych + current price are trying to tell you. Coincidence? I think NOT! Trading has now became so logical and simple to me.
These guys do it manually : http://masterforex-v.su/forex001002002.htm
I don't! =D!
The only thing I will never be able to 'solve' is bank intervention and news; banks and price movement by news do not play by these 'rules'. Their game and rulebook in the markets are different. Here, I am still forced to watch the market with discernment. See http://masterforex-v.su/001_015.htm
. Anything else, I look at the indicator.