Whats the difference between just a normal s/r and a KHL?
What would characterise a KHL?
Whats the difference between just a normal s/r and a KHL?
What would characterise a KHL?
Hi Dudest,
Yes, I have been on the quite side for a while. Thank you for your kind reply which I highly appreciate. Yes, I do see the pinbar at a swing high ( I feel so anyway). I also think that the opposite double pinbar on weekly had a stronger impact (which I didnât see till later). It is certainly very helpful to know my mistakes. Thanks again
Hallo G,
KHL (key horizontal level) refers to a MAJOR S/R, as opposed to just any S/R on a chart ( in context ).
Ideally, the normal one/two S/Râs we draw on our charts are KHLs ( thatâs why they are on our chart, they are the key levels )
The differentiation becomes stark especially when a chart is choppy, and there are several S/Râs on the chart, and one wants to highlight the major ones.
For example, in a ranging market, the KHLâs would be the TOP and BOTTOM of the range, with other S/Râs in between being the minor ones.
Hope that makes sense!
Cheers
PS:
Iâm guessing your next question would be: how to identify KHLs (?)
And the answer to that would be:
â> the main two levels on your chart are the KHLs.
â> the STANDOUT ZONES on your chart are the KHLs
Nothing to get confused about
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So now the importance of staying with your plan becomes evident [ regardless of what dudest or anyone thinks about your trade ]
Cheers!
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Analysis:
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Thank you again
I always draw my S/R lines too high or too low
Thanks you for your review. My 1st reason to enter was for the previous daily candle pb. But you learn from your mistakes and no matter how long you have been trading for you still make them as we are only human.
On a plus note my gold and silver trades hit there tp and made back all the losses I have had. So now I have learnt an important lesson and Iâm no worse off.
Yep I stayed in and it hit my tp. I was also riding gold too. Yay.
Is it me or does the silver chart look like a double bottom?
The AudCAD is climbing to the VBRN of 1.000. Looks like a great place to short. Iâll be watching this like a hawk!
Yaaaay! :35:
@double bottom: doesnât quite look one to me⌠though I normally donât place much premiums on double-bottoms and such (and donât have them in my trading plan)âŚ
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Uhm, not true, your S/Râs usually look good to me!
The key here was to remember that gaps tend to act as S/R, and not mix TFâs (âweekly gap has not yet closedâ). Also to see what the wicks of the previous candles were doing ( i.e, that the candles where not able to CLOSE BELOW the level )
Cheers!
And if you donât do what he said, you will make Uncle Dudest really sad.
Dudest, thanks indeed for your support.
As newbie, I miss with some abreviations. Some reference guide to help me?
i took profit on Gold around 120 pips. i dont plan to let the trade run too much on reversal trade
Talk of prophecies!
Good on you Johnathon, hope you pocketed plenty cash.
Or maybe you are riding it further down. nonetheless enjoy the triumph.
Cheers
i only take it into consideration and once i got home and looked at the silver chart it didnât look like a good double bottom to me either.
Wow! you must have a cape and wear your pants outside your trousers! I can never seem to run a profitable trade this well. Congrats
this was actually my best trade pip wise( i know it doesnât really matter as gain is what counts) to date on my live account
203 pips whoop whoop. lol
I might say it was a âgolden tradeâ⌠heh he.:34: