RandyCandles - Information - page 40
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Excellent post Radatats
Radatats,
Thanks for a great post. On the 1 minute chart what setting is the red line.
I went back and looked at the original Golden Equity posts and followed a long on my charts searching for alert candles ... It's amazing how often they happen and by following those few simple rules to the T I can already see how my tyrading can improve.
Many thanks
Vegas
Avoid this setup at all cost.
Bravo~ Excellent Work
Thanks
Double click on any indicator to see its settings.
Thanks Chris, by the way here is a new zip with my current indicators and setup with template for those interested.
Rad,
Again, thanks. I already can't wait for next week. This week was up and down for me...but it was my own fault trying to force trades. I love this thread!
Chris
161.72
Looks like the next stop could be 161.72
This thread is great....
Cool
Those MM lines appear to very powerful.
Radatat....Do the mm lines automatically change or do they have to be recalculated....The next mml line down is -2/8 but there is nothing after that. Thanks for the info.
According to MM theory, we are already in way oversold territory now. The 2-8 line is the last. I believe that they will recalc if we get much below that point.
However, long term fibs and stochs indicate that we may see a retracement some time shortly.
Wait and see.
MM Lines
Quick question regarding the Murrey Math Lines. I notice that they do recalculate and so if it's the case, how do you go about using them for support and resistance when a labled 1/8th can become 4/8th when it recalculates?
Would appreciate any tips and suggestions in this area. Thanks and great thread.
First, read this info on MM. I posted it before.
MML
Now, you have to understand that all indicators are reflectors of price, not effectors. Price couldn't care less that a 1-8 MM line exists at any point. The MM lines are there for your information only. Once price violates the levels, of course new lines will be calculated based on actual price action. What used to be a support level may become a resistance level when violated. A weak are may become a strong area, etc.
Don't get wrapped up with any of the static level indicators. They are for planning purposes only so use them that way.