Freddie Posted June 5, 2011 Report Share Posted June 5, 2011 (edited) http://tinypic.com/r/jidkxt/7 I don't know why I can't see the pic :-( so I also write the link in the last post Hi Harry, you will see by my 'quote' that the picture is there. Don't know why it doesn't show. - correction!! The link shows on my message but not when it is put on the thread!! I use 'photobucket', that posts nicely. @Fx3 A good explanation of using the trendline tool. One other thing, when the 'three little squares' appear, you can press 'ctrl' and make another separate line. I use the 'horizontal' line for my support/resistance. It lets me look back for the strength of the line. Not trying to cause any confusion, just adding this in case anyone wants to know the difference. Edited June 5, 2011 by Freddie harry007 1 Quote Link to comment Share on other sites More sharing options...
harry007 Posted June 5, 2011 Report Share Posted June 5, 2011 (edited) Thanks Freddie, I will try http://s1136.photobucket.com/albums/n494/harry4x/forex01/?action=view¤t=eu_h4_june02.gif that is photobucket. but looks like I have no luck today. Edited June 5, 2011 by harry007 after I don't see the pic Quote Link to comment Share on other sites More sharing options...
crips Posted June 5, 2011 Report Share Posted June 5, 2011 Here is my EU 4H chart http://imageshack.us/photo/my-images/840/4heu.gif/ Crips Quote Link to comment Share on other sites More sharing options...
harry007 Posted June 5, 2011 Report Share Posted June 5, 2011 (edited) http://oi52.tinypic.com/jidkxt.jpg arrrrg, I make a mistake in my profil settings. I wrong at "Miscellaneous Options" there must Enhanced Attachment Uploading: here you must choose-> Enhanced Attachment Uploading on and not here -> Enhanced Attachment Uploading off thanks to Freddie, after your posting , I think by myself there must something wrong at my settings :-) Edited June 5, 2011 by harry007 Quote Link to comment Share on other sites More sharing options...
Freddie Posted June 5, 2011 Report Share Posted June 5, 2011 Really good example Harry, see how the 6,7,8,9th and 10th lines are hit more than once. Line 9 is a good example of support becoming resistance even though it has been ignored on three occasions. Nobody says that the price will respect the lines but there is always the possibility. Line 7 is really strong resistance, three hits, but now broken and now...maybe becoming support ready for a strong move up...maybe just a lucky break and price will break down through again. Then we look for a test of R again Quote Link to comment Share on other sites More sharing options...
crips Posted June 5, 2011 Report Share Posted June 5, 2011 Here is my EU 4H chart http://imageshack.us/photo/my-images/840/4heu.gif/ Crips Quote Link to comment Share on other sites More sharing options...
grooter Posted June 5, 2011 Report Share Posted June 5, 2011 I've chosen a choppy one ;) - GJ H4 http://imageshack.us/f/847/gjh4.gif/ Quote Link to comment Share on other sites More sharing options...
Freddie Posted June 5, 2011 Report Share Posted June 5, 2011 I've chosen a choppy one ;) - GJ H4 http://imageshack.us/f/847/gjh4.gif/ See you are using SR bands Grooter Quote Link to comment Share on other sites More sharing options...
izogrey Posted June 5, 2011 Report Share Posted June 5, 2011 I like to play, so I'm in :-) Tried to find another choppy one - here it is - USDCAD H4: http://img542.imageshack.us/img542/4092/usdcadsr.jpg Quote Link to comment Share on other sites More sharing options...
fxfxfx Posted June 5, 2011 Report Share Posted June 5, 2011 Hi Freddie, All the efforts goes to soundfx - He made the how-to. Glad to see people here who are willing to contribute to others :-) But the most important thing is: Everyone of you knows how to draw swing-highs and swing-lows. OK - so let's keep the ball rollin' Will continue today ... Cheers Lorenzo Hi Harry, you will see by my 'quote' that the picture is there. Don't know why it doesn't show. - correction!! The link shows on my message but not when it is put on the thread!! I use 'photobucket', that posts nicely. @Fx3 A good explanation of using the trendline tool. One other thing, when the 'three little squares' appear, you can press 'ctrl' and make another separate line. I use the 'horizontal' line for my support/resistance. It lets me look back for the strength of the line. Not trying to cause any confusion, just adding this in case anyone wants to know the difference. Quote Link to comment Share on other sites More sharing options...
freddy Posted June 5, 2011 Report Share Posted June 5, 2011 just a little note. For lasy people (like I am sometimes), you can use the zigzag indi to draw your swing highs & lows (play with the settings fo fit your needs, 5,5,5 is good) ;) Quote Link to comment Share on other sites More sharing options...
fxfxfx Posted June 5, 2011 Report Share Posted June 5, 2011 Hi Freddie, ZigZag is good for s/r - lines and also to find possible Trendlines. But the homework is not over - you will see it in a few minutes why I wanted that users draw them manually ;-) But you are right: I also use the zig-zag from time to time.... Thx for your post, as I am sure that especially for newbies it is good to find the swings.... Cheers fxfxfx just a little note. For lasy people (like I am sometimes), you can use the zigzag indi to draw your swing highs & lows (play with the settings fo fit your needs, 5,5,5 is good) ;) Quote Link to comment Share on other sites More sharing options...
Freddie Posted June 5, 2011 Report Share Posted June 5, 2011 Hi Freddie, ZigZag is good for s/r - Thx for your post, as I am sure that especially for newbies it is good to find the swings....Cheers fxfxfx Just a note Lorenzo, Freddie is the English one, living in Bulgaria for the moment but Freddy is the French one living is Paris. I am sure that you don't want to cause an international incident by addressing the wrong one...these French people are very sensitive, you know. Quote Link to comment Share on other sites More sharing options...
fxfxfx Posted June 5, 2011 Report Share Posted June 5, 2011 Oups - sorry mate. I am happy that this surely can not happen with my username ;-) So I have to take care when I open the new thread to not to be confused with you 2 guys .... Looking forward,... fxfxfx Just a note Lorenzo, Freddie is the English one, living in Bulgaria for the moment but Freddy is the French one living is Paris. I am sure that you don't want to cause an international incident by addressing the wrong one...these French people are very sensitive, you know. Quote Link to comment Share on other sites More sharing options...
fxfxfx Posted June 5, 2011 Report Share Posted June 5, 2011 Hi folks, I finally made it - I started the thread here: http://indo-investasi.com/showthread.php/13455-My-price-action-strategy Very empty at the moment - but I am sure that it will be filled quickly (At least I will do my best to do it). ca there fxfxfx C0UNDE, iwjw and grooter 3 Quote Link to comment Share on other sites More sharing options...
dannydon786 Posted June 6, 2011 Report Share Posted June 6, 2011 One of the best way to make money is trading the 15min chart......low drawdown...but more noise....but you lose something to gain something...............and indicators are very important for guidance....less better... Quote Link to comment Share on other sites More sharing options...
4xmeter Posted June 11, 2011 Report Share Posted June 11, 2011 (edited) One of the best way to make money is trading the 15min chart......low drawdown...but more noise..... It doesn't make sense to me to trade in a timeframe higher than the 15M. The only drawback happens in the sideways with volatily price action. You know those 2 or 3 bars 10 + pips in one direction making the indicators trigger. You enter and immediately price change to the opposite direction very fast. Then you are caught. Then you enter again and the same thing happens. Caught again. However, this is not really a problem if you kow price action in the sense of Support and Resistance. I most add, everybdoy knows i am controversial; any naking trading that it is base mainly in S/R above the 15 min get away from it. That is, if you do not have deep deep deep pockets. I am just trying to be conciliatory here. In reality, in money sense; it doesn't makes any sense to trade above the 15m timeframe. Edited June 11, 2011 by 4xmeter Quote Link to comment Share on other sites More sharing options...
fxfxfx Posted June 11, 2011 Report Share Posted June 11, 2011 Hi 4xmeter, Can you explain this to me as I am making money on a regular basis for a longer time-period by trading S/R and price-action on 4-hourly and above and I know also others who are doing this very successfully for years. So I would be interested in more detail why it does not makes sense to trade 15min above .... Cheers fxfxfx It doesn't make sense to me to trade in a timeframe higher than the 15M. The only drawback happens in the sideways with volatily price action. You know those 2 or 3 bars 10 + pips in one direction making the indicators trigger. You enter and immediately price change to the opposite direction very fast. Then you are caught. Then you enter again and the same thing happens. Caught again. However, this is not really a problem if you kow price action in the sense of Support and Resistance. I most add, everybdoy knows i am controversial; any naking trading that it is base mainly in S/R above the 15 min get away from it. That is, if you do not have deep deep deep pockets. I am just trying to be conciliatory here. In reality, in money sense; it doesn't makes any sense to trade above the 15m timeframe. Quote Link to comment Share on other sites More sharing options...
4xmeter Posted June 11, 2011 Report Share Posted June 11, 2011 (edited) Hi fxfxfx! Darf ich! First off, I am happy that you and many others are very successful on high time frames. Because of time constraint I cannot graphically show it to you. However, I can say this; a breakout of a Support and Resistance on a 4h chart is approximately 90+.pips. Meaning, many many times before a breakout occurs 90+ pips has passed by, gone. That makes a S/R in a 4hr chart a lagging indicator. A simple retrace in a 4hr chart is about 70 pips; a trend in a 5/15 min chart. Traders who use the 4hr tf do it because they don't want to be glue at the computer screen and I understand that but it doesn't mean it is more efficient than the 15 min chart if you have an understanding of S/R. Edited June 11, 2011 by 4xmeter Quote Link to comment Share on other sites More sharing options...
fxfxfx Posted June 11, 2011 Report Share Posted June 11, 2011 Hi 4xmeter, I agree to you ;) But I must also say that trading S/R levels at 5 min/1 min should be nearer at the price. And I also only can say that every timeframe is a universe of it self -> Because you will find traders in every time-frame -> Long Term traders will let lots of pips on the table -> But only in the sight of a short-term trader. In the sight of a long-term trader it is not lagging. I personally do not think that I am able to handle these small time-frames as it always leaded to me to make mistakes (which I saw then afterwards). Although I make lesser trades - I focus at the quality of the setup and also do not want to try every breakout or retrace. I personally must say to you: hats off to you (And I really mean this in a positive manner) as I was not able to handle these small time-frames successfully (I made too many mistakes because I was under too much pressure). Maybe when I am more trained or skilled at the lower timeframes for a longer time-period I will give them again a new try. Thx for this great contribution Cheers fxfxfx Hi fxfxfx! First off, I am happy that you and many others are very successful on high time frames. Because of time constraint I cannot graphically show it to you. However, I can say this; a breakout of a Support and Resistance on a 4h chart is approximately 90+.pips. Meaning, many many times before a breakout occurs 90+ pips has passing by, gone. That makes a S/R in a 4hr chart a lagging indicator. A simple retrace in a 4hr chart is about 70 pips; a trend in a 5/15 min chart. Traders who use the 4hr tf they do it because they don't want to be glue at the computer screen and I understand that but it doesn't mean it is more efficient than the 15 min chart if you have an understanding of S/R. Quote Link to comment Share on other sites More sharing options...
4xmeter Posted June 11, 2011 Report Share Posted June 11, 2011 (edited) Hi 4xmeter, I agree to you ;) fxfxfx ha,ha, ha, I see! Scheisse! In reference to " But I must also say that trading S/R levels at 5 min/1 min should be nearer at the price." I tried the 1m but it was impossible for me to established a S/R rules. However, in the 5min or 15min you could be profitable with it. I have to say thank you very much to you for this thread and others. Edited June 11, 2011 by 4xmeter Quote Link to comment Share on other sites More sharing options...
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