The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jul 28, 2016 2:35 am

MightyOne wrote:Just charts discussing channels...


Know what I mean Mr Bean?

This is a chart with updated prices for the people who downloaded the channel file.



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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jul 28, 2016 4:49 am

GBPCHFM1.png
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anikazahir
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Re: The ideas that I trade by:

Postby anikazahir » Thu Jul 28, 2016 11:16 am

Cheers from bangladesh.

Dear Sir but how to trade this?
1. From 'pattern' to 'pattern'?
2. From 'pattern' to breakout?
3. From breakout to 'pattern'?
4. From breakout to breakout?

When and how initiate trade? What is the trigger?
Can you Sir give some examples how to trade this?

:smt058 Your Anika.

salezyakuku
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Re: The ideas that I trade by:

Postby salezyakuku » Thu Jul 28, 2016 1:29 pm

anikazahir wrote::smt058 Your Anika.

Kiss saved the situation ... :lol:
"I only see my goals, I don't believe in failure 'Cause I know the smallest voices, they can make it major"

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jul 28, 2016 3:52 pm

anikazahir wrote:Cheers from bangladesh.

Dear Sir but how to trade this?
1. From 'pattern' to 'pattern'?
2. From 'pattern' to breakout?
3. From breakout to 'pattern'?
4. From breakout to breakout?

When and how initiate trade? What is the trigger?
Can you Sir give some examples how to trade this?

:smt058 Your Anika.


I look for the simple answer in P&F and then look to the bar chart for further guidance.

Each point represents the line that is above & below it so that trades are triggered within an area.

Up-channels go up, down-channels go down.
If price is in the top half of a channel then it wants to go up or if it is in the bottom half then it wants to go down.

A beginning poker player plays his cards differently than the skilled player because the skilled player can read patterns and come to logical conclusions based on what is happening at the time.
Ask till he blue, the beginning player receives no benefit from the skilled player until he can put 2 with 2.

Trading is the same. Everyone uses horizontal lines and has simple systems and strategies (they know how to play their cards), but a few observant players can detect the numerous nuances of a chart and adjust their strategy to the situation (they play the player).

Best of luck Anikazahir.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jul 28, 2016 4:00 pm

15 degrees is 15 degrees as 15 miles is always 15 miles.

There are two rules that are followed when drawing angled lines:
1) price bars must cover 95%+ of the chart from top to bottom.
2) you must scale fix your chart after angled lines are drawn.

If you haven't seen by now that 15 degrees is the soul of Steve Jobs, it just works, then I can't help you.

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Re: The ideas that I trade by:

Postby MightyOne » Thu Jul 28, 2016 5:47 pm

The 'congestion'/'pattern'/'angle'/'channel'/'something', whatever you want to call it, IS BEHIND THE BREAKOUT.

Do you know what a breakout looks like? Do you know what congestion looks like? Then what is the problem?

Have a little faith in yourself...

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Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu Jul 28, 2016 6:46 pm

MightyOne wrote: Ask till he blue, the beginning player receives no benefit from the skilled player until he can put 2 with 2.


So true - also why keeping perspective is important - when simple works, why go for complicated? Most often, it's just a more complicated way to lose money.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jul 28, 2016 6:57 pm

On larger charts, usually larger than H1, drawing through weak closes creates a similar picture to drawing through the congestion of small charts.

I intentionally made the space between the bars as large as possible to show that it does not dampen the power of the 15 degree angle...it is magic, what did you expect?

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Re: The ideas that I trade by:

Postby MightyOne » Fri Jul 29, 2016 2:57 am

A spread of 63% of a line is a bit high...

The blue line is something that TRO is working on; he mentioned it briefly in one of his recent trading videos but I don't see any posts talking about it so hush hush for now, I guess.

I normally do not extend lines, it works but I usually just use the most recent data (the last down channel and draw a new up channel after that). I have, in the past, extended channels for days and watched as it went through the top of the chart and returned to respect the channel...so, yeah, do what you want.

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