A simple price action approach

[crazyAtrader]

Quote from nakachalet:

All your channels drawn on several charts by different traders looked just perfect.

Would love to trade with them any time, any day, any market and in any country for that matter.... Cheers

Would just love to have one or two or all of you to demonstrate on real time charts as to.... how to draw and trade your channels.... as you demonstrated herein....

on the real time euro, gold and crude charts when the market reopens on Tuesday....

Would really love to see some of the more experienced traders in action trading my favorite markets in real time, using either real money or sim.... which does not really matter much at this juncture.

Would just love to see how trendlines are affectively drawn on a 3, 5, 15, 30 or 60 minutes chart.... in order to execute almost perfect trades as shown in previous graphics attachments.

I am so very envious of your abilities and intelligence to be able to draw such perfect trendlines and to execute such perfect trades....

With all my admiration.

You are right, I will cease trading this subjective method that only works in hindsight.

Back to our regular MACD program....

Crazy A

 

[baro-san]

Quote from nakachalet:

All your channels drawn on several charts by different traders looked just perfect. ... With all my admiration.

Thanks. You can see what followed from the time that chart was posted, and you can try to figure the next three legged sequences.

 

[nakachalet]

Quote from baro-san:

Thanks. You can see what followed from the time that chart was posted, and you can try to figure the next three legged sequences.

There was no date nor timeline on the chart which makes it difficult to decipher the direction.... sorry.

Perhaps, you could do much better....

what is the s and r when market reopens on Tuesday pls?

and what do you expect the entry and exit points to be for Tues pls?

Do not wish to put you on the spot though.

You really do not need to do it, if you are squeezed for time really, OK?

 

[1a2b3cppp]

Aww snaps, it totally just blew through that downward trendline that everyone was talking about.

 

[eudaemon]

Quote from nakachalet:


I am so very envious of your abilities and intelligence to be able to draw such perfect trendlines and to execute such perfect trades....

With all my admiration.

+233

 

[Xspurt]

Quote from 1a2b3cppp:

Aww snaps, it totally just blew through that downward trendline that everyone was talking about.

It sure didn't care for it in your market - so what does that tell you?

Meanwhile it sure didn't like it on mine - there was a 90 point reversal. What does that tell you?

PA breaks or reacts to trend lines. Goodness, if a trend line never broke what a perfect world it would be

 

[baro-san]

Quote from Xspurt:

It sure didn't care for it in your market - so what does that tell you?

Meanwhile it sure didn't like it on mine - there was a 90 point reversal. What does that tell you?

PA breaks or reacts to trend lines. Goodness, if a trend line never broke what a perfect world it would be

Volume helps. Higher time frames (weekly) help too.

 

[1a2b3cppp]

Quote from Xspurt:

It sure didn't care for it in your market - so what does that tell you?

That price is random and cannot be predicted

Meanwhile it sure didn't like it on mine - there was a 90 point reversal. What does that tell you?

Wait, what? Not on the S&P...

PA breaks or reacts to trend lines. Goodness, if a trend line never broke what a perfect world it would be

I'm just taking the piss. Someone in this thread said TLs don't count until price touches them three times... so that one was touched 3 times (thereby becoming a legit TL) and then it failed.

Of course, it was a weird gap up hammer so which might be a fake trendline break or something and tomorrow it might be down like crazy thus actually respecting the trendline and then all the TL followers will be like "SEEEE DOOD I TOLD YOU SO!!!!"

Anyway, I'm up on my long position so I'm happy

 

[baro-san]

Quote from 1a2b3cppp:

Aww snaps, it totally just blew through that downward trendline that everyone was talking about.

http://www.elitetrader.com/vb/attachment.php?s=&postid=3198084

Another possibility of drawing those trend lines.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3198317>

 

[baro-san]

Quote from 1a2b3cppp:

That price is random and cannot be predicted ...

To me price doesn't seem random. You don't have to predict it; try to trade what you see (where the market is: long or short), and let the market carry you wherever it goes.

Suggestion: if you want to make it in this or any other field stop clowning around, and start doing the work.