100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 97
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what method do you use to determine support and resistance? MAs? BBs? or TL?
S&r
what method do you use to determine support and resistance? MAs? BBs? or TL?
I go to daily chart and find areas where price was strongly held on a number of occasions, then draw a horizontal line.
Cheers,
Mike
I totally agree Mike, Nial Fuller is another one of the "no-indicator" forex teachers. I really have gotten a lot of value out of his price action videos and articles. I think the fact that he basically condenses his strategy down to master just 3 simple setups really makes trading much easier. I have seen a significant turn around in my trading since following his methods. Go over to youtube and watch some of his free stuff if you are interested.
Hi mc,
Ok, thanks for your suggestion - will take a look.
Cheers,
Mike
horizontal lines are static and deceiving
I go to daily chart and find areas where price was strongly held on a number of occasions, then draw a horizontal line.
Cheers,
MikeMike,
the market is a live entity, but everyone treats it like it is dead. Horizontal lines take into account the price factor, but not the time factor. They are useful to identify the area where support/resistance should be found, but they will never pinpoint an exact entry point. In my experience, depending on which level is hit by the price, H4 and H1 are more important than daily, and if one of the H1 and/or H4 is broken, then the next M1 resistance/support will stop the undergoing move, reverse it, and send it back to at least retest those H1 or H4 support/ resistance lines.
I'm attaching a couple of pics of a H1 time frame I took after my first post here at forex-tsd.
The first one shows where I placed the first limit order to sell, right at the dotted aqua line (#3). The next expected turning point is at the #2 dotted aqua line, and the next one yet expected turning point is at the #1 dotted aqua line. I took each one of these trades, even if they were against the main trend. The next picture shows what happened next.
Now, I do not want to clog this tread with my charts, so, if you need more examples, feel free to pm or email me.
For those that emailed me, I'm sorry, but I cannot disclose my methodology because I sold the rights few years ago.
regards,
Pio
Need a little help
I downloaded all the files but i don't see anything-where is the MACD? I put everything un the right place (and i saw it o.k last month) but now after i reinstall MetaTrader4 i can't see the indicators-why?
MP -- save the template
did you name and save the template --- if so, it should be under "templates" which is reached by rite click on chart and drop down box
if not, then do it all over and SAVE the template as MT4 will normally continue to use an UN saved template until "something" changes, like re-installing the program.
enjoy and trade well
mp
I downloaded all the files but i don't see anything-where is the MACD? I put everything un the right place (and i saw it o.k last month) but now after i reinstall MetaTrader4 i can't see the indicators-why?
i had problems with adx and mack d..................., now just use murrary math at extremes -1/8 and +1/8.wait for3s..working out so far......dont know how to send charts................
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did you name and save the template --- if so, it should be under "templates" which is reached by rite click on chart and drop down box
if not, then do it all over and SAVE the template as MT4 will normally continue to use an UN saved template until "something" changes, like re-installing the program.
enjoy and trade well
mpWhy i need to name the file? i just download it and put in "template" folder-no?
I don't use any indicators, I strictly trade off price action setups. I learned from Nial Fuller. I think some of you may want to look into this method of trading. It is much less stressful and more accurate than indicators. Here is a link to Nial's stuff: Trading Price Action
Price.. charts.. microstructure.. indicators.. math..