Jump to content

How to trade the lines..


Recommended Posts

Support and Resistance is the most important issue at trading! I am looking for some reliable S & R indicator, do you know some?

I had one Fibs S & R but it is not good anymore because too many traders use Fibs and the Wall Street Barracudas manipulate the trends (false breakouts, spikes etc.) The same issue like with stop hunting!

Hermes

Link to comment
Share on other sites

I do have a few good sup/res indicators I can post when I get back home. No indicator will be perfect and it depends on the TF etc you are looking at but I will post what I have.

In the mean while, what did you think about how to place the lines and trade them the way I wrote? Did I put enough detail in for someone to understand how to place them? Really good RR if you do it the way I see it. I will be forward testing for a while and if it overtakes my trading system then I will make the switch!

 

I should point out, I really like this also because you can bring up almost any chart on any time frame and trade the same way. You can see it on a 5min chart or a monthly chart.

 

juicyt

Edited by juicyt
Link to comment
Share on other sites

  • 3 weeks later...

Good thanks Wesnel1, up about 13% in two weeks with 1% risk per trade. Of that, a 2% loss I had was using another system I use on shorter time frame. I think I will abandon the shorter time frame as I am really liking the 4hr charts right now and I would prefer to be up another 2%... Did you read what I wrote and test your lines?

 

jt

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...