This thread will be about what I refer to as trading levels. Trading levels have been around as long as there have been markets. Nobody invented them and nobody has a patent on the right values.
These are not the holy grail and like any other method or tool, sometimes you get the bull...
and last clarification .. the earlier chart and call on 6C ... that was taken on a touch of the weekly lower level based solely on the prior week confirming an upward bias. It was the ideal entry point to go long, not a place to go short as I think some would have used their levels.
Last...
I get that Mav, I think people are projecting how they use their levels and just assume I am using mine the same way. I dont see that as my issue.
Using NG as an example, my signal to go long (if I was actively trading NG) came early last Wednesday. I dont know if that ranks early or late...
Thanks but no thanks. I have been using these levels for quite some time and have been very profitable with them so while I am always looking to tweak, I haven't found anything better. I am a software developer and have coded and tested thousands of variations as Im sure many have. This is...
LOL ... I didn't know you were the keeper of all levels. I have made some live calls this week showing my levels, trading real money, not throwing out a generic "making an A-Up in so and so".
Geez ... I have started several posts by saying this is "my" take on it. What is your deal?
Another take on Nat Gas ... no doubt the monthly, quarterly, and yearly levels are in play in the very short term, but we may get a pullback here off the weekly level.
I am neither short or long NG, just one of the many things I keep my eye on.
Just checked and got filled at the weekly level. Targets already stated in previous post. Will re-evaluate and most likely step up and buy again if we should happen to fall to the monthly pivot, based on other confirming conditions.
Going long 6C on a pullback to the weekly level of 1.0095 if we get there ... 1/2 target at yearly and 2nd half quarterly above that. Will buy again if we drop to the next level and other confirming indicators line up.
Canadian dollar bouncing off the yearly upper level Friday and this morning. Target is the monthly upper level but if it breaks above this level and holds, the quarterly upper level sits above it. I think both levels are in play, one or both this week, the other by next week.
And staying with the coffee theme ... sbux bounced off the quarterly upper level 2 weeks ago, bounced off the upper level monthly and weekly levels last week, the fell to the lower weekly level on friday and bounced off of that level. sbux has provided som clean signals this month.
My 2 cents on coffee ... retreated off the yearly lower level (cyan) within a few ticks on Wednesday, then fell to the lower weekly level (yellow line) Thur / Fri and bounced off that almost to the tick.
and soybeans ...
Soybeans closed way above the weekly upper level and appears headed...
Re-visiting the thread and saw the soybeans chart / levels. Interesting to see the different levels of other players.
I have soybeans just recently rising above the weekly and monthly levels with the quarterly level up above at around 1540.
You did well considering the action today. I really thought we were going to make one more run down to 96.42 but it petered out at approx 96.60.
The weekly level has been a magnet all day.