I’ve been wondering myself why they called those lines trend lines.
[B][I]SanMiguel[/I][/B]
If you do what everybody else is doing…you get what everybody else get’s.
Here you get something different…it’s called an edge…
Who said you have to stay in that box…? 
Yes, of course. However, the more trendlines you draw, the more likely something is going to bounce off that area by coincidence. That is why we then use extra confirmation such as bollinger bands and the slow stochs but stochs have their own inconsistencies also.
That’s a good point, I was thinking that too. I’ll attach a chart. price moves through fan lines, but you can see it kind of consolidates and follows along them some too. Also I have a few traditional trend lines drawn.
Well, that’s where judgement comes to play…your own judgement that is…
Why don’t you just draw them up…those [B]fan lines = Advanced Trend Lines[/B] I mean…and add [B]only[/B] trendlines from higher TF’s and 4h…?
And then observe PA…1h & 4h TF…amazing what you can see…if you care to look carefully that is.
STOCH, 1:2BB, regression lines…that’s for confirmation. The more you’re looking for confirmation the more you distrust your own judgement based on what PA tells you in the first place.
Here’s a pic of my chart. I don’t actually trade off it, just a visual aid to get an idea of where price may go. Orange lines are more traditional trend lines. Red and Green fan lines.
hope it’s not too hard to see, I need to go back and read the ‘how to post pictures’ thread.
Cas I’d like to see a picture of yours, to see if we are seeing the same things.
I [B]do[/B] “manually” trade of mine. For me it’s not a “visual aid”…whatever that is in the first place.
to see if we are seeing the same things.
Well…we are not. But that’s beside the point.
You trade what you see and I trade what I see. Not gonna run before you learn to walk…
Those were just some extra trend lines I was looking at, not the fans.
sorry Cas, different strokes for different strokes, thanks anyway.
guess I always have seen things a little differently from everyone else anyway :rolleyes:
SanMiguel, is trying to ‘get it’ so hope I’m not leading him astray if I’m off base with my lines. That’s all.
just noticed, I took those 2 lines off my chart. had them on earlier, pretty obvious those.
I wouldn’t worry about that, I’ll look at both to start with. Generally, stochs aren’t my thing but I’m open to confirmation indicators.
You using fib fans or gann fans?
I know you’re sharp enough not to be led astray, didn’t mean it to sound negative.
hand drawing the fan lines. Although I have noticed that if you then put a fib fan on there and move it around a bit that some of it’s lines will closely match the hand drawn lines. Somewhere back I posted a conjecture on why that may be. But I think hand drawn lines are better because they are based on your little gray cells and actual price, rather than a calculated line.
Not to beat a dead horse, but I am having a bit of a difficult time drawing the trend lines for this strategy.
If convenient, could someone post a pic of their GBPUSD chart with the appropriate trend lines so I can compare them with mine? Thanks!
Not time tonight but am looking for a break short.
I note thats a weekly chart… you might be waiting some time.
PA has been ranging since June but that range is 500 - 1000 pips. Its perfectly possible to collect pips on the 4h, 1h, 15m and 5m.
R.C. I haven’t made it to the dailies yet, much less the weeklies !
do you still draw fan lines on your chart? Do you draw new ones as time moves on? I tried drawing some new ones but the old ones still seem to be effective in giving some direction to price.
[B][I]R Carter[/I][/B]
GU 4h highest high is latest PA.
Drawing trendlines from recent lower 4h highs are not accurate enough for entry selection I found.
Do you go 1 TF up…1d…to select a higher high than most recent 4h highest high in order to get accuracy back for entries…?
Or what do you do…? Something entirely different…perhaps…?
Thx.
[B]CAS[/B]
4h is getting pretty over cooked… dont see it getting much higher than the 1.6835 area in the short term. I see a break south sooner rather than later. Hmm… daily chart looks promising for a longer up trend but its too rich for my blood… I mean what sort of stop are we talking here?
I have a 4h short at 1.6803.
Data compression has no effect on price. 4h, 1h, 15m and 5m are all the same. The only difference is how much time is “stuffed” into each candle. I prefer to wait for price to go “on sale”. That is when you can enter at the best time to collect most of the range you mentioned.
People change their minds as to what price is “cheap” vs. what price is “expensive”. That is the reason you see price oscillate. The chart above shows that shift in perception.