This one's better than the last chart imo.
One Trade at a Time
- Thread starter Chris_Anonymous
- Start date
And this one is the lower TF, but I've now got uniformity with channels being at the same angle.
As a result, I'm noticing price holds to the channels better.
As a result, I'm noticing price holds to the channels better.
Another chart, using Sierra Charts, but from my laptop, hence the different chart colors. Nevertheless, I'm starting to get the hang of using the same channel angles, and it's making more sense.
Another chart with my attempt at horizontal and diagonal lines.
I'm scrolling through each chart bar-by-bar in order to draw the channels and horizontal lines at the "hard right edge". If price does not adhere to my channels, I try to erase them. If a new channel appears, I draw it, and if at any point a channel does not hold well, I erase it.
The remaining valid channels are what is left on these uploaded charts.
I'm finding I am better at not holding a directional bias with the more drills I do, and switching between drawing channels and horizontal lines gets easier as well. In other words, it's getting easier to react to price instead of predict it. True test will be during sim-trading and real trading.
I'm scrolling through each chart bar-by-bar in order to draw the channels and horizontal lines at the "hard right edge". If price does not adhere to my channels, I try to erase them. If a new channel appears, I draw it, and if at any point a channel does not hold well, I erase it.
The remaining valid channels are what is left on these uploaded charts.
I'm finding I am better at not holding a directional bias with the more drills I do, and switching between drawing channels and horizontal lines gets easier as well. In other words, it's getting easier to react to price instead of predict it. True test will be during sim-trading and real trading.
Great job CA
Building consistent context â gives us a solid base (consistent reference) â from which to trade
iow;
We build the context, price does what â in reference to what weâve built (the same way each time) â we go along for the ride
====================================================
Learn to build em.., Come to trust em⦠Grow to exploit em
Your channels are golden
=============================================
Nothing worse than inconsistent context â built â in a totally uncertain environment (in the math world I believe they label that a random variable)
RN
Building consistent context â gives us a solid base (consistent reference) â from which to trade
iow;
We build the context, price does what â in reference to what weâve built (the same way each time) â we go along for the ride
====================================================
Learn to build em.., Come to trust em⦠Grow to exploit em
Your channels are golden
=============================================
Nothing worse than inconsistent context â built â in a totally uncertain environment (in the math world I believe they label that a random variable)
RN
RN,
Thanks!
I will continue practicing channel drawing, and remaining consistent in my drawings. I assume we'll move on after more practice? No rush, just curious.
Thanks!
I will continue practicing channel drawing, and remaining consistent in my drawings. I assume we'll move on after more practice? No rush, just curious.
Again I applied consistent framework.
I think drawing channels (although I never really liked them before) is a very easy way to provide a clue as to where price might go.
Here is the chart for Tuesday.
I think drawing channels (although I never really liked them before) is a very easy way to provide a clue as to where price might go.
Here is the chart for Tuesday.
Here is yesterday's chart.
And today's chart.
RN,
Today has been interesting because I was not able to draw channels too well until about 10:15 EST or so. I relied on horizontal lines to provide context, but I had trouble with channels.
Is this what you would have done, or was I not seeing the chart in the best, most unbiased way that I could?
Chris.
RN,
Today has been interesting because I was not able to draw channels too well until about 10:15 EST or so. I relied on horizontal lines to provide context, but I had trouble with channels.
Is this what you would have done, or was I not seeing the chart in the best, most unbiased way that I could?
Chris.
When you drive, you only use the odometer to get to your destination
Or do you use street signs, speedometer, other traffic, weather/ road conditions, and a myriad of other input
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The diagonal channels, as youâre learning them on your trading TF (this chart) - are not working
What about a channel on a higher TF, where is price, on this chart, in that channel
What about reading price on this chart, starting with the first big red candle (never forget - price trumps everything else)
What about your horizontal channels (AKA S&R areas/ AKA consolidation areas) = appears price is acknowledging those - so use them
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I imagine there are folks who can trade from a one dimensional view⦠I am not one of them
RN