Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
DbPhoenix
-
Content Count
3789 -
Joined
-
Last visited
-
Days Won
1
Everything posted by DbPhoenix
-
TR refers to Trading Range (see the Glossary). And, as I've said, diagonal lines, whether they're trendlines or demand/supply lines, don't provide S or R. If you want to know where S or R will appear, look at the TRs. You may think that the TLs are providing S and R, but you're throwing virgins into the volcano. TLs and DLs and SLs have jobs to do and they do them well. But they don't provide S or R, only the appearance of it. Db
-
This is what's called "preliminary support", i.e., buyers buying on the way down. Db
-
Look at the entry off the DT at 70. That's what the PA is supposed to look like. If it doesn't look like that, then get out of it, at least until you have thoroughly dealt with your fear issues. Db
-
I suggest 30 and 27 are too trivial for a move this strong. But nothing's lost by watching them. When price stops, there's a reason. Db
-
Even so, I wouldn't use them exc as catastrophe stops. Once one has placed a stop, he tends to relax and wait for the stop to be hit. This is the wrong course (or he moves the stop to BE, which is even worse). Focus on the price action, even if you have to use a smaller interval. If it doesn't do what you expect it to do, exit the trade. You may miss a profit, but you won't incur a loss. Db
-
To recap, after the drop to 55, $ created TR bet 55 and 59, midpoint 57. When $ dropped to 52, it rallied and found R at ....... 57. Db
-
I agree. There's really nothing else until 20. Db
-
And how is it helping you in RT? The R is being provided by TRs, not TLs, particularly since the latter are being drawn in hindsight. Db
-
There should be no stopouts, only exits. If you're relying on stops, you're relinquishing responsibility for the management of the trade. Your exit should have been around 57, when the downmove was over. What's the need of a stop? Db
-
What do you mean by "TL"? Db
-
When you drop thru a range, $ has much greater difficulty regaining its losses, much less advancing. All those people who bought in that range and didn't sell will now grab the op to do so. After $ dropped out of that hinge you drew, it created a TR early this morning. It rose out of that TR, then found R at the midpoint of that hinge. It then dropped thru the TR and found R at its midpoint on the way back, printing a double top at 70 in the process. That was a legit entry. It's not about lines. It's about buyers and sellers. The lines just point the way. Db
-
Don't overlook that TR from 67 to 72 from early this morning. It's on your chart. Db
-
Watch me pull a rabbit out of my hat... Db
-
88 will be a 50% RET. Db
-
The fact that it made a round-trip is not a plus. Db
-
Since $ bounced so decisively off 2780, I'd back up to the more major 2780 to 2820 view. Db
-
I haven't brought it up yet, but some of you may be interested in playing with the TICKQ. It doesn't always diverge at what have been hypothesized as critical S/R levels, but it does often enough to be useful. If the test were to come after the DL break, the choices wouldn't be so fuzzy. But things aren't always so clear. Db
-
I suggest paying special attention to 2830. Db
-
This is what I was referring to in post 503. If one re-enters the short, he must be prepared to SAR when he gets a HL instead. Db
-
No. It held at 10 at 1002. Buyers then stepped in and broke the SL a minute later. $ then broke thru 16 3m after that. The fact that $ reversed at R (16) suggested reversal, particularly when $ dropped below 13. But when it stopped at 10 and rallied so strongly, this instead suggested that all this was a RET in the long trade from 08, which, as it turned out, was the case. Db
-
Caught bet S and R. Db
-
SL holding. Db ..........
-
Downside fakeout? Db .............
-
And an itty-bitty hinge. Db
-
LH good reason to exit the long, even if one doesn't short here. Db
