s/r shooting

GoldenMember · Dec 20, 2012

Quote from TheMagican:

Buy yourself a fucking loupe and re-read the OP's concerns.

NoDoji has done nothing but contribute and assist newbies.

OP's post was vague. Nonetheless NoDoji gave it more attention and constructive comments than anyone else, including you... btw
[edit: just noticed RiffRaff just posted- also constructive comments]

I agree with her comments about ET being inundated with clueless dreamers. It's also full of trolls, wannabees, losers and negative individuals. Your post confirms my beliefs.

riffrafffpatrol · Dec 20, 2012

Quote from TheMagican:

To the OP.

Just keep 2 of them on your chart:1)Support,at the lower edge of the chart.
2)Resistance,at the upper edge of the chart.

You don't need anything else.Come and thank me in a while,I wouldn't mind

Seriously Magic?

You have the balls to flap your trap at NoDoji... yet this is your contribution...of which you have added ZERO content and addressed NOTHING of the OP's Qs!!!???

HurricaneUS · Dec 20, 2012

I take offense to the title of this thread in light of all that has happened in the past couple of weeks. OP should strongly consider changing the name of this thread.

wrbtrader · Dec 20, 2012

Quote from clarodina:

how you guys deal with overshoot or undershoot of support and resistance level? How to know whether price would overshoot or undershoot?

That's not suppose to be an issue because support/resistance levels are NOT trade entry signals. Thus, it really doesn't matter if price doesn't reach a s/r level or passes through a s/r level unless you're already in a trade and you're then using the s/r level as a profit target (exit signal) or stop/loss protection.

Therefore, you should be using an entry signal that's independent of your s/r analysis. Simply, if your trade signal appears at the s/r level...you take the trade. If it does not appear when the s/r level is reached...there's no trade.

As a reminder, s/r levels are not trade entry signals.

Keep it simple...this isn't rocket science.

sledgeyum · Dec 20, 2012

Look at next s/r..

Quote from clarodina:

how you guys deal with overshoot or undershoot of support and resistance level? How to know whether price would overshoot or undershoot?

limau2 · Dec 20, 2012

Quote from clarodina:

how you guys deal with overshoot or undershoot of support and resistance level? How to know whether price would overshoot or undershoot?

in CL, over/under shoot SR level will happen more in choppy mkt.
You'll know it if a line can't be drawn properly and you need to rely more on patterns. If not sure what patterns to look for , stay out as the risk is much higher when this happen.

piezoe · Dec 20, 2012

Quote from clarodina:

how you guys deal with overshoot or undershoot of support and resistance level? How to know whether price would overshoot or undershoot?

You don't. Trading is gambling sweetie.

Lucrum · Dec 21, 2012

Quote from Tonkadad:
First of all you will never "know".

Quote from EON Kid:
You can consider things like momentum & volume...

I agree

Quote from wrbtrader:

That's not suppose to be an issue because support/resistance levels are NOT trade entry signals. Thus, it really doesn't matter if price doesn't reach a s/r level or passes through a s/r level unless you're already in a trade and you're then using the s/r level as a profit target (exit signal) or stop/loss protection.

Therefore, you should be using an entry signal that's independent of your s/r analysis. Simply, if your trade signal appears at the s/r level...you take the trade. If it does not appear when the s/r level is reached...there's no trade.

As a reminder, s/r levels are not trade entry signals.

Keep it simple...this isn't rocket science.

Very good point.