Supports, Resistances, and Doji
- Thread starter metabolicpanel
- Start date
Not sure what you are trying to show since there is not context or even text, but some things:
1) There are far more than outlined AFTER the fact.
2) Realtime is the only actionable value
3) Even after the fact, you missed the actual ones that were tradable, like the 5000 level.
4) Do you know how candles are made? Seriously, combine any two and get a new one. Where does that leave the "analysis".
Bottom line. Sorry, but worse than useless. If you took the "rules" if there are any, and applied them without hindsight knowledge, I would estimate the false positive rate is about 80%. Hence worse than useless because it would take tremendous trade management to make this tradable.
But maybe that was the point? Hard to say.
1) There are far more than outlined AFTER the fact.
2) Realtime is the only actionable value
3) Even after the fact, you missed the actual ones that were tradable, like the 5000 level.
4) Do you know how candles are made? Seriously, combine any two and get a new one. Where does that leave the "analysis".
Bottom line. Sorry, but worse than useless. If you took the "rules" if there are any, and applied them without hindsight knowledge, I would estimate the false positive rate is about 80%. Hence worse than useless because it would take tremendous trade management to make this tradable.
But maybe that was the point? Hard to say.
Here we go again schooling people. Support and resistance levels don't exist.
What do you have in common with @Scataphagos?
What about demand and supply? Do they exist?
1. Speak up!
2. Simply remove all those horizontal lines.
If you really must draw SR lines,
only draw significant S and R lines.
My forex trading coach (a professional talker, not a professional trader)
drew millions of horizontal lines until we couldn't see the candlesticks.
Of course they exist...but not in zones or levels that can be derived by simply looking at previous zones or levels.
Give it up, Mr. Hindsight.
Never once I saw you post a trade in real time. It's all about if this, then that. Actually, that's worst than hindsight.Give it up, Mr. Hindsight.
What are you talking about? Just look at my spreads versus butterfly thread. I'm literally trading a swing in a triangle that you punters haven't even recognized as a triangle yet. Lol
Or look at my Bitcoin charts where I projected 3 months in advance where price would be to almost the day.
Or my home Depot projection where I derived from the chart that they were going to miss.
I'll post the links later.
By the way, have you ever posted a chart? Nothing memorable if you have.
Hey, don't ebb his flow, he's my next "Guru".Give it up, Mr. Hindsight.
Keep going please @wxytrader I'm trying to see if theres anything I can learn off you. So far I haven't, but I'm patient.