while even my insufferable ego would love to do that, isnt it nice to know that there is a SMALL band of merry traders who enjoy the fruits of their labors, and perhaps DONT want to share with every johnny come lately, get rich quick honcho out there ?
still got that little devil sitting on my shoulder, with his pitchfork announcing his presence and i do recognize his presence !
just a thought
mp
ahhhhhhhh - - - -
what youre missing is the CONCEPT of differing charts (that would make a hell of a title for some book wouldnt it ?)
without wanting to get super tech on this, the daily and the H4 are your âoverviewâ charts â showing you the WHOLE world with each candle according to its TIMEFRAME ! ---- when you look at the H4, each candle represents FOUR HOURS, so there is a LOT of movement contained in each candle.
when you scoot down to the lower timeframes, you are basically xraying and looking INSIDE the 4 hour candle and as you get lower and lower on the times, the view of whats happening becomes narrower and narrower (or more and more magnified)
the one minute chart is showing you each movement in one minute incriments, while the H4 shows you 240 of those minutes, all jumbled into one candle.
so when youre looking at support and resistance on the different charts, they WILL BE DIFFERENT because each timeframe is independent of the next and at the same time, because each is a PART of the next, a part and parcel of the higher times.
while the lower timeframes can go up and down and up and down, ALL of that activity (which you cant see except by the range of the H4 candle) is CONTAINED within the H4.
so you choose your timeframe to trade, and obey ITS OWN support and resistance. you go to the HIGHER timeframes to determine the OVERALL trend, be it up or down, then go to the LOWER timeframes, which will be moving up and down like a demented chicken, and enter at the LOWEST price you can get, then you switch back to the 15 and watch how rich youre getting, after you set your tp point based on barrys, the bols and the LRC.
when hand drawing the LRC you use TWO points on a chart ---- first you pick the lowest and FURTHEST AWAY point, which will give you a good trend and then you pick the CLOSEST AND HIGHEST point which will give you another LRC that shows the minor move within the greater trend.
using the second LRC allows you to visualize where the price is going, for instance ---- we have an UPTREND in the major trend and the second trendline is moving down, and approaching the bottom line of the major trend.
at the intersection point of the major and minor trends, we note the price and set a tp there (or a bit above, just in case some bulgarian working for the swiss, set up in a bucket shop in the bahamas wants to cheat you out of two pips (LOL)
IF the price continues past that intersection, we re-enter (its not that simple, but essentially what we do if the indicators indicate such !) and ride the price down to the next support area, UNLESS we can visualize where the price may be heading, such as a close pivot point, strong moving average or a channel line in the SHI/LRC !
while thats a nutshell view, it takes a bit of working with to understand whats happening, but its well within the abilities of most men and women who are able to leap tall buildings in a single bound, stop locomotives with their bare hands and do a complete wardrobe change in a phonebooth with not a soul noticing !
LOOK â up in the sky - - - - - - - - â
mp
A little talk about the CCI and any other indicator (i team it with the stochastics)
UP is going the stochastics, past its lower lines, past the 50 point and now we know were solid as can be. Now if everything is kosher, youll see the CCI running up right alongside the stoch as if they were bosom buddies, BUT every now and again (LOTS actually), you will see the CCI out ahead of the stochastics ----
Now, you look over at your channels and barrys and see where the price is going (well, you will someday so just keep staring) but DAMMIT â price stops going up and starts to fall - - - - - - - - - you may even get one of those small chocolate dots the semaphore likes to spread all around your charts -------------- EEEEEEEEEEEEEK !
HOLD ON !
if the DSS and the stoch are still heading up, if that resistance area is still up there within reach (check the time â is it reversal time yet ?), sit back, light up a corona supra cubano de l rosita and wait for the CCI to drop to the bottom and COME RAGING BACK !
other interesting situation is to see your stoch starting up, AND the CCI is BOTTOMED, but moving up also â once you confirm (the two indicators pass their 20 - 30 value) you know its a good one !
the CCI can be likened to a âbuying strengthâ meter in that it shows the âpressureâ of the buying or selling (which is why i can use the accum/dist as well, and which is better for LONGER TIMEFRAMES than the CCI)
i think that says most of it
later
mp
do you agree sweetpips ?
Good job Husky and the rest of you who are cleaning house, and making pips ($s) hand over fist. I myself am in a learning retracement and hopefully in the next day or 2 will be able to have a bullish breakout on my LPC (learning progression channel)
You guys (many thanks) are the support and my pea brain (donors wanted as mine needs transplanted into a styrofoam cup) is the resistance.
I am thinking about starting my own thread to compete with the proposed 600-900 pip a day thread. It would be something like âHoliest of Holy Grails Found - Come learn with me for 1 Pip a dayâ
the EURO at 4pm, est on a 60 min chart
we call it pingpong played against the major lines
now looks like a bounce off of the prior high (red) and ABOVE the prior close and todays open, so shall we assume the bulls(albeit smelly) shall triumph today ?
rotsa ruck
mp
just dont retrace past 23% sandpiper â we dont have enough rope to pull you back !
mp
eu15(2).zip (616 KB)
Wizened One,
If this non bailout âbailoutâ gets passed whats that going to do with our lovely dollar? Any IDas?
â[I]The 10 most terrifying words in the English language are: âWe are the government, and we are trying to help.ââ modified RR quote[/I]
mp,
when u said,
âwhen using MT4 for the same situation, i am highly dependent on barrys for my exits, along with the bols for what will be a âfinalâ exit when i see the one minute getting ready to reverse for real !â
when u are using barrys and you are long and price is moving upâare you looking to left of the chart looking for a previous res area or r u waiting for barrys to form a new res. area to tell u to get out.
going to post a chart to hopefully clear up my mess of words above
i feel like i am trading the channels in a way that makes sense basically like a described before, but when it comes to the 1 min and what you have said about scalping i just donât feel like i am looking at what you are looking atâ and i also feel like i am using barrys a different way than u are.
what you are showing here appears to be support jaybird, not resistance. If it were resistance, the price would move THROUGH it on the way up â here it DROPS and rests, which is support ! (i thought of a good joke, but wont !)
see the difference in my EU chart for one minute â i use the LRC, barrys and the ziggies (of course, the indicators) to enter and exit â the stoch will tell you when the move is over !
on the last move, note that we got a âcontinuationâ dot on the semaphore and a number 3 DOWN BELOW ---- imagine thats the direction of the move by the time its finished
EDIT â in the second jpg, see what happened ? thats what those green circles and stuff usually indicate.
other thing â how come youre charts and text are HUGE â is it only me, or do you have your computer set to make everything appear as if you were a real MANLY MAN ?
LOL
mp
Hey I am a bit confused here ----is not a # 3 semaphore supposed to mean a reversal is imminent? So why say âimagine thats the direction of the move by the time its finishedâ???
[QUOTE=mp6140;89576]what you are showing here appears to be support jaybird, not resistance. If it were resistance, the price would move THROUGH it on the way up â here it DROPS and rests, which is support ! (i thought of a good joke, but wont !)
lol
??? where i have the #3 right on the barrys red circles u would consider that supportâ it may become support but as barrys is painting red circles above u----it would have to be resistance.
I guess an easier way to ask my Q is do you look left for previous red barrys circles as you are trading to the right or r u waiting for barrys to paint a new red circle to tell u that u have reached a new resistance.
see the difference in my EU chart for one minute â i use the LRC, barrys and the ziggies (of course, the indicators) to enter and exit â the stoch will tell you when the move is over !
on the last move, note that we got a âcontinuationâ dot on the semaphore and a number 3 DOWN BELOW ---- imagine thats the direction of the move by the time its finished
other thing â how come youre charts and text are HUGE â is it only me, or do you have your computer set to make everything appear as if you were a real MANLY MAN ?
LOL
i can post smaller charts if it is making everyone feel inadequateâ
i like big charts when i look at a post---- i never sleep cant see anymore----lol
I am long at 1.2980, t/p at 1.3015
my post was written about the FIRST jpeg â the second shows what happened a minute later
I just covered bottom of channel from way up yander----15minâtook forever-
looking to get in long e/u somewhere in this area as soon as we get a up move and a pullback into support
still short e/j and g/u
Pardon me I am still at lossâI donât have those green ringed circles-But I get the small brown dots and the big one with a #3 and when that appears, it usually means the trend is about to end and it will retrace nowâŚis this a true statement?
Also one day when you have time I will like to know how the semaphores (the dots) are calculatedâŚ
Thank you!
TEX
unless something happens like a true reversal off of the prior close (price already below the pivot), being long is not exactly the greatest idea here
later tonite, but looks like down from here
mp
looks like a good retrace on the H4 back to remove all of todays gains
with a lot of prayer, could reverse back into the 2970âs if it does it now
but also looks like a continuation of the upside after midnite est
out of g/u near bottom of channel
covered half e/j at midline
this is not phretty 
true indeed,
my thinking is it goes up on the overnite, but this dont look good
mp
pm me
No, no its not.
Were you long too?
I am in 80 pip loss currently!!
