The Price Action Journal 2

schizo said:
the original The Price Action Journal

Hope to bounce around good ideas relating to PA
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`Price` !Action!
Trading just by following orders of prices....is only a small part of the overall trading, success, equation storm.
All those, rather, blind and simple indicators work -- Until it doesn't. Then you're back to Square 1, trying to solve the market mystery puzzle, while looking at your losing or breaking-even trading account.
Cheese-o, Schizo
 
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First touch of return to S/R line drawn off WR impulsive breakout/breakdown candle:-
!ES610.png
 
SunTrader said:
Not nice commenting without looking at the link provided.

Topic is about ideas. Not dik measuring.
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ideas may abound but performance data is non-existent and remember: a thing that has not been measured cannot be understood.
 
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schizo said:
Can you elaborate on how you came up with those lines, especially the bottom channel line (or support)? That is, what constitute them as support, which I don't see?

View attachment 294292
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Look to previous reversals or consolidation zones and find the WR breakout/breakdown bars. Forgot in previous post to mention key price is the open of WR candles, although more like a zone around open price is future potential reversal spots (maybe only a bar or two, sometimes a lot more).

Understand now?
 
The much better question should be: Could you please draw support and resistance right now right here for future price levels. It seems obvious why he draw the lines as he did, those price levels were touched a second time. Even a kindergarten kid can do that. Let's see how things look without the benefit of hindsight...

schizo said:
Can you elaborate on how you came up with those lines, especially the bottom channel line (or support)? That is, what constitute them as support, which I don't see?

View attachment 294292
More...
 
SunTrader said:
Look to previous reversals or consolidation zones and find the WR breakout/breakdown bars. Forgot in previous post to mention key price is the open of WR candles, although more like a zone around open price is future potential reversal spots (maybe only a bar or two, sometimes a lot more).

Understand now?
More...
No, not really. I still don't understand what purpose the lines with ??? serves.

Anyway, good to know your thoughts.
 
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