I don’t believe that the daily start time matters.
One start time may result in a smaller range compared to another and then that same shift may then result in
a larger range than the other; I believe that the parts add up to a larger whole no matter where the periods are “cut”.
It is true that certain start times will result in doji/weak closes where as others result in the more favorable close near the extreme.
Who trades yearly extremes? I do!
Often the majority of the yearly range will fill in the first 5 months or so (+2) leaving me with the rest of the year to further compound profits; for this reason I prefer 6-month extremes over the yearly.
There is profit to be had in: establishing a position during uncertainty, fading the obvious, picking up (positions) where traders leave off, & holding extremes of long term value.
Where/What is truth?
Simplicity that is certainty such as: there being only one highest high in a given range, the distance that you can expect price to travel over a given period, price not trending lower without closing lower, larger periods contain larger corrections than smaller periods, etc
"I don’t believe that the daily start time matters."
This sentence was solved a few my problems.
You write that S&R are line/place where price dont close above/below that line. OK this is clear. But if we use only D1 interval (wick on D1 is only wick but on interval m1-H1 it is nice S&R) and we dont change to lower time frame, and if we have situations like that:
3 green candle D1 in row closing higher then previus high,and on 4 candle we have HH but candle close RED. We look on chart and see new highest high but follow what you write we should drawing S/R from green wick because ( S&R are line/place where price dont close above/below that line) and that line is still active…
“I don’t believe that the daily start time matters.”
After that sentece I can deduce that to determine the H or L on D1 chart we need to change color candle or get HH / HL / HH price action patern.
This can be stiupid but i think if price reaches new HH and this 3xCC change color we simple entering in transaction :31:
to increase our chances we should do that near W1/MN/D1 extreme?
"there being only one highest high in a given range, the distance that you can expect price to travel over a given period, price not trending lower without closing lower, larger periods contain larger corrections than smaller periods, etc"
There is a chance that you will show this on the chart
“One start time may result in a smaller range compared to another and then that same shift may then result in
a larger range than the other”
“One start time may result in a smaller range compared to another and then that same shift may then result in
a larger range than the other”
Goodness no
I am just saying that you shouldn’t worry about the start times unless you are trying to do an advanced chart study
involving comparisons between time shifts.
And yes, position yourself at long term extremes or swings IF you plan on holding onto a position.
I am just saying that you shouldn’t worry about the start times
Im confiused. If i want create 3xCC with H1 candle using indactors, this indactor automaticly create 3xcc box using my time zone on platform. But if you doing this same using diffrent time zone you will have diffrent 3xCC H1 candels.
I was notice that if we create 3XCC we have only 3 combinations.So this can means we should write D1 box -2H,-1H, YOURTIME ZONE.:EDIT: DONT READ THIS THIS IS MADNESS
I have idea to start create 3XCC using rectangle in MT4 but starting from the candle reaches LL/HH.
There is an indicator that already does what you want:
Google: II_CC_LITE
Apply the indicator 3 times to the chart (might have to change the object layer), pull the lines so that the CC overlap into a 3xCC, adjust the settings to draw from the extremes, and then save the template.
Now im only have to understand this box. Its look simple… box close above/below your line. So simple that im die:D You SwordOFManagement only need to draw line and past screenshot here hehe:)
Mabye you have right BUT you and me know that your line is better than my
SwordOFManagement honestly say there is small chance by people like me to dicover what this something is realy are ?
Or this is not exalcy point normal see on chart. Chart have only 4 point like you say, OCHL, but this can be evrything. 1/3 or 1/2 from H to L,mediana. Almost evrything.
I willbe study your chart you post above. I think this post have all information. Good idea is to like i see observed larges body and pattern on High/Low— Close above/under this something. then we willbe see
Thx for your comment. I realy dont know why you share it with all this things. for severals days you complitly change my point of view. Now this is Blue point I will see if i can be the GREEN point $$$ of view
that im die:D You SwordOFManagement only need to draw line and past screenshot here hehe:)
