response to: A simple price action approach, for beginers

I have not been very active recently. However, I have been busy. My issue is that not only have my simple basic questions been answered, I have also realized that there is no information around about many of this stuff. If there is, it is often contradictory. So there is no exact science to this. Yet, they are used in a very precise way.

How can one point be chosen over another when both points are so similar. And when a lot of our art has a vagueness to it.

This brings in question this hole system. I remember some one posted on my journal. he wrote something like, if you have the capability to analyse on your own, then to stick to that.

I thought, well there so much info here why reinvent the wheel ?
maybe i can learn some things quickly here and then add new ideas i develop on my own.

Any ways all this aside, I am taking a new route. If any one wants to take over this thread they may. I can't be bothered to try to find answers to questions that don't exist.

I may still post here, but not in the same way. But, once i post picks with high confidence, you can be assured that I will be one of the top traders on this site. That is a personal guarantee.
 
Quote from killingtheta:

Okay so there is the setup. Confirmation lies in price breaking through the minor trendline and exceeding the signal bar by one tick. That's where we put in our stop order to buy. When our order gets filled, so does the stops from the bears and the momentum quickly sweeps us up to the next level of resistance.

I've read that some traders would prefer to just enter as price hits s/r and all that confirmation is a waste of time, but so far, during backtesting, using confirmation has added 12% to the win/loss ratio. Seeing it in realtime drives the point home. You can see price stall around support, slowly approaching the confirmation then pulling away, back to the confirmation and trigger. Price gets shot out of a slingshot right to the next level where the bears are waiting to defend that area.
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I love that setup and I also trade it with confirmation. Confirmation = slightly wider stop loss, but a much higher probability of success on the trade.
 
here is my first pick . not expecting much this on took me all day to do. Unfortunately it may be a bit more long term


I know it looks like its easy. but as you all know trading is never easy or luck. this was based on 12 hours of research ( and strategy development

hope it come out a winner

go long, go short and take profits triggers are on the chart
 

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sorry i forgot i put this prediction here, i followed it a bit but will have to look in to it i did however save it at some point and though im not sure how it played out it is amazing to see how price behaved !!!

i oculnt believe my eyes when i saw this, and i did something like this on anoter chart and i put spot that i thought the chart would hit as dots and they were all hit, some points were out of the range of the previous day low and high,, but i dont think i postd that one .. any ways here is this one for you guys to see, sorry for the delay
 

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does this work, it is what i used to use and found that after 2-3 touches there is an anomaly. since it takes 2 points to make the trend line your 3rd is ony touching say 50% of the time you have not really increased your odds,

that is at least what i have found , but if you like you can pick a stock and we can both plot our trend lines and see how things unfold
 
Quote from xiaodre:

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At a glance, this seems to be a good way to draw a trend line.
It is missing some aspects to it but the fundamental thought is correct FOR ME.

I'm sure some one that has studied it and used will like it better then my lines and that is fine, Its nice to see some thing that looks like it makes some sense as opposed to earlier things I have posted about.

With this system, like many others you have to be careful. It is one of those things that always makes sense when you look back on a chart. But when you try to trade it, you may get very different results.
 
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