Hourly Trendlines

thanks GC

i want to do what others do (strength in numbers). I see it all the time with pivot points, and most huge breakouts have TL's running through them.....i just need to shave off some of the fakeouts, staying with the trend helps me do that.
 
I think i like drawing just horizontal lines for the S/R.......drawing diagonal "trend lines" end up confusing me too much. and pretty much every TL break has a nice horizontal line that could have been used instead....there is a certain price level that people jump in at and i think the horizontal lines are more accurate in that sense.

example of my horizontal lines and how kickass hindsight is..
what do you think?
 

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Quote from superstephen:

I think i like drawing just horizontal lines for the S/R.......drawing diagonal "trend lines" end up confusing me too much. and pretty much every TL break has a nice horizontal line that could have been used instead....there is a certain price level that people jump in at and i think the horizontal lines are more accurate in that sense.
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I agree.
 
cnbc seems to be mostly garbage/pointless blabbering....like the older heavy-set guy who cohosts in the mornings, he acts like there is no point to finance, as if he hasn't learned anything after the years of hosting and interviews that he has done.

but if i watch it in the early morning, listen for the probably direction of the day according to the headlines....i find myself on the right side of the market often, and that i shoiuld enter if the "news" that morning will help the market continue its current trend.....entering on an hourly S/R break and exiting near a pivot point
 
The market will tell you its direction just play your set ups.

How is the 5 point stop working for you. It seems a little tight for 1 hr charts?
 
5 point stop seems to be working pretty good on NQ. if i get stopped out price usually just goes nuts the other way....

sometimes i stretch it to 6/ 6.5 ish to keep it past multiples of 5 on price cuz i notice a lot of pullbacks on NQ get within 1/2 point(above and below) of a multiple of 5
 
Quote from duhmentor:

The market will tell you its direction just play your set ups.
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thats a good quote. im listening to the news and following the trend....i think im doing what you said.

i have been trading NQ, but i think ES plays with the pivot lines better.
i think it MIGHT be "safer" for me to get in a couple points past the line and to exit atleast a point early. this sounds good today but im not in love with it.
im still looking for hourly S/R line breaks in the morning.
here is another nice hindsight trade for today on ES
 

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