Why support becomes resistance

Again IMO, only trading off charts, you will get chopped to bits without understanding 1. Participants - what they are trying to get done, and 2. Context- an objective framework to observe your market
 
Quote from BobbiDigital:

Again IMO, only trading off charts, you will get chopped to bits without understanding 1. Participants - what they are trying to get done, and 2. Context- an objective framework to observe your market
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The charts will always tell you all you need to know about the market and its participants.

They never lie.

Now if you know a better and more profitable way to trade and make money, we are all ears.
 
After 5 yrs I truly believe trying to visualize a pattern through completion is a futile battle. Therefore knowing where volume occurs in a range is worthless as is analzing any price pattern for an end result. You don't know if current price is going to be a double top on a short timeframe or the midpoint of a higher timeframe only pausing before the next leg higher. Not to say charts or PA are worthless. Price is very readable, but not predictive.

BD
 
Thread is heading into classic ET.

Lot of words but no real substance.

Imagine the game of ping pong, but replace the ball with ego, some just can't help themselves.
 
Quote from BobbiDigital:

After 5 yrs I truly believe trying to visualize a pattern through completion is a futile battle. Therefore knowing where volume occurs in a range is worthless as is analzing any price pattern for an end result. You don't know if current price is going to be a double top on a short timeframe or the midpoint of a higher timeframe only pausing before the next leg higher. Not to say charts or PA are worthless. Price is very readable, but not predictive.

BD
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Allow me to rephrase your comments the right way:

"After 5 yrs I, BobbiDigital, am still unable to find a way to consistently profit from simple chart patterns. Therefore, knowing where volume occurs in a range seems worthless to me as is analyzing any price pattern for an end result, because I, BobbiDigital still have no clue how to do this.
I don't know if current price is going to be a double top on a short time frame or the midpoint of a higher time frame only pausing before the next leg higher, because I am still learning.

Not to say charts or PA are worthless. Price is very readable, but not predictive....because, again, I, BobbiDigital, still do not how to decode (and profit from) these charts patterns. So if I (BobbiDigital) cannot do it nobody can."
 
Jeez Fuking christ. forget to write IMO one time. Anyways, I wanted to edit that. Yes, PA works if you consider up and down bars PA (seriously) blackholes and sheit

No one's discussing profitability here dude. its all good...

humbly, BD
 
Quote from BobbiDigital:

After 5 yrs I truly believe trying to visualize a pattern through completion is a futile battle. Therefore knowing where volume occurs in a range is worthless as is analzing any price pattern for an end result. You don't know if current price is going to be a double top on a short timeframe or the midpoint of a higher timeframe only pausing before the next leg higher. Not to say charts or PA are worthless. Price is very readable, but not predictive.

BD
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wow there is a gem of a comment.

here I will give you one. When price hits near a 60 minute support level lets say, then it retraces a little bit and then it touches the exact same level as 10-15 minutes before forming a double top and you look at the level 2 and there is a massive wall of sellers that dont move you can start adding a short position!, then when it breaks below a base or a candle that u feel leads to more weakness u add to a full position because you are confident that the resistence will hold!

yes it might only work 50% of the time.....but its plenty enough to make $$.

Unreal some of the comments on these threads, and I'm basically a newb.
 
Quote from cmb:

wow there is a gem of a comment.

here I will give you one. When price hits near a 60 minute support level lets say, then it retraces a little bit and then it touches the exact same level as 10-15 minutes before forming a double top and you look at the level 2 and there is a massive wall of sellers that dont move you can start adding a short position!, then when it breaks below a base or a candle that u feel leads to more weakness u add to a full position because you are confident that the resistence will hold!

yes it might only work 50% of the time.....but its plenty enough to make $$.

Unreal some of the comments on these threads, and I'm basically a newb.
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Hot garbage. You are a newb.
 
Quote from BobbiDigital:

After 5 yrs I truly believe trying to visualize a pattern through completion is a futile battle. Therefore knowing where volume occurs in a range is worthless as is analzing any price pattern for an end result. You don't know if current price is going to be a double top on a short timeframe or the midpoint of a higher timeframe only pausing before the next leg higher. Not to say charts or PA are worthless. Price is very readable, but not predictive.

BD
More...

I agree about patterns, and I agree about multiple bar intervals (which is what I assume you meant by "timeframes"). However, if you want to make a trade, it's important to find the volume, i.e., the trading activity, i.e., the liquidity. You don't need charts at all for that. In fact, if one is looking for liquidity, he needn't bother himself with bar intervals at all.
 
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