How to use Support and Resistance Effectively - page 15

Sundowner
76
Sundowner  

Thanks for posting these charts, Bubble. They help enormously as I can replot them on my platform and view them historically.

Please take a look at this one. What I am noticing here is that if I place what seem to be major historical s/r lines on the 240 chart, the price stalls at them (blue).

Is this how you determine tp levels?

I understand your primary focus is the trading chart now and how you use the htfs. On the charts you posted there is only the curent s/r line. Have you done this for clarity of demonstration or do you only work with one (the current) s/r level on your chart?

Thanks

Files:
usdchf1.gif 19 kb
Sundowner
76
Sundowner  

Thanks again Bubble,

I was missing something really basic in your analysis and you've cleared that up nicely, I think.

I thought you drew lines of s/r from an historical perspective and then watched to see if the turning points of current price action matched, checking those on htf. Even so, plotting historical levels of s/r on the 240 chart and watching the price action around them has been an education in itself.

I can see a lot more study is required. Nothing worth while comes easy.

Cheers

samso
19
samso  

Great thread

Hi Bubble,

You are teaching something which really works. May God give you the best rewards for this. Would you be kind enough to shed some light on the other tools which you mentioned in the last thread. Thanks again for sharing all this.

Highly appreciated.

samso

samso
19
samso  

I meant to say last post

samso

Sundowner
76
Sundowner  
bubble:
Samso,

i appreciate your request , i probably should not have mentioned the above, you have to appreciate that im not about to give away the edge that i have on a public forum , i have supplied more than enough information and examples for any one who reads this thread to change the way they perceive trading and become profitable.

If I were to offer a limited number of members of this forum the opportunity to purchase the information then i would probably be branded as some sort of charlattan on the other hand if i give the information away , then it would most probably be repackaged and sold by some internet marketeer.A catch 22 situation.

bubble

Agreed,

What you have already shared is very generous and I'm sure appreciated by others besides myself.

Cheers

samso
19
samso  

I totaly understand and thanks again for all you have shared sofar. It already helped me a lot. Take care

samso

RickW00716
733
RickW00716  

I don't think anyone here has a problem with you keeping some of your indicators a secret...It is much appreciated the lessons on support/resistance/charting...PLEASE keep teaching!! When we all here learn the basics we can find our own indicators to use(or not use)

Thanks again!!

samso
19
samso  

I have read your last post several times, but couldn't understand the last sentance. I think the examples which you mentioned would make it easy to understand. Thanks again for the good work. By the way I have gone through the whole thread once again yesterday and it made things more clear.

samso

XKR1962
60
XKR1962  

Hi Bubble,

great work, using your methods I spotted that one myself got on board a little late but having identifyed the target felt it was worth the risk.

Fantastic. I really feel like I am learning now. Thanks again.

samso
19
samso  

thank you it's great. I agree the best part of your method is stress free. Also the risk/reward ratio is great too. It definitely helping a lot. Thanks again

samso