If You Can Draw A Straight Line . . .
- Thread starter dbphoenix
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Price has left the congestion area and is moving up again at rapid pace.
SLV Daily:
It didn't come to my mind to alert earlier as this opportunity could have been used to add to position or initiate a smaller new position. Of course now it's a bit late and perhaps a retracement of price back down may provide another safer entry. Also note that because price has already moved higher these subsequent follow-up entries are higher risk and lower reward.
Gringo
SLV Daily:
It didn't come to my mind to alert earlier as this opportunity could have been used to add to position or initiate a smaller new position. Of course now it's a bit late and perhaps a retracement of price back down may provide another safer entry. Also note that because price has already moved higher these subsequent follow-up entries are higher risk and lower reward.
Gringo
forty,
when deciding on the range you're going to look at, do you typically keep the hourly charts as your highest time frame, or do you start with the daily and work your way down? I've been starting as high as the monthly lately. Sorry if you've answered this before, I just finished reading the thread and have forgotten if you did.
yes really. I am reading through again though. I see that forty typically uses the hourly chart to to decipher s/r areas as well as the midpoint of the range.
When he mentioned 3119.50 as the approx midpoint of the former 3090.75 - 3148 range, I had that drawn as a range on my daily chart. My hourly range inside of that range, was a little bit smaller though.
Dbphoenix,
Do you use moving averages at all?
Do you use moving averages at all?
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