firewalker

I understand your point, but if you really don't like doing it anymore... I had a safe job, high salary, lots of days off and the work wasn't that hard. I'd even say they were very little jobs that would pay that "well for so little work". Yet I didn't enjoy doing it, and felt demotivated and ultimately quit, despite all the advantages. I think it's important to do something that you enjoy doing. But obviously the potential rewards in trading are on a different scale than those of a 9 to 5 job...

Here's some more homework I did! I think the day I don't enjoy doing this anymore, I should quit trading.

My sixth sense! It's a bit intuitive if you ask me... Otoh if you rationalize it: on the right hand chart you see more information and we have a swing that manages to show some balls. While in the left chart any attempt to move higher is immediately rejected on the demand dries up very quickly. Tough but good exercises imo. :thumbs up: I'll try to look up some charts over the weekend.

You're giving away very very little information about that. It's a close up and we don't know where those line come from, and what exactly happened before. I think there's not enough context to have a good 'what next' here... If I was forced to say something it would be that price looks weaker in the left hand chart.

Trust me, I know exactly what you're talking about! That's the difficulty with trying to identify support with a line imo... Btw, I don't consider each swing to act as S/R...

This one is worth framing! I need more than both hands to count the times I took trades in the past for the reasons you state above...

Cheers on not being too greedy! :beer: PS: This is for not following your plan :boxing:

That can be arranged. Btw, the title of this thread is no longer appropriate! I think we should move it all over to Trade & Chart Analysis. We are just very serious guys. We only analyse and talk serious stuff... And to think you were trying to start a thread about 'boredom'.

Hmm, I'm going to have to disagree here I think what happens is that smart money/professional money/banks/whatever you prefer/ wants to acquire some. These transactions take place near important levels. What happens in this case is that price drops, on apparent lack of interest from these players. But these players are waiting for a slightly better price. In fact, on that down bar the buying occurred. You can see that because on the next couple of bars price fails to fall. As you would probably tell me: support is not a line, but a zone. In this case price found support slightly lower, so I do believe it's not a coincidence. All imhBo(*)! (*) in my humble Belgian opinion

Of course, we (Inbev) have acquired half of the world's beer by now :o Good exercise btw. I liked it. No price quotes, no instrument, so no cheating. And despite the lack of volume I still managed to do okay. Hmm...

Aha! So I would've scaled out but still be in for the rest of the upmove. With another exit at the red dot annotated on this chart. Ehm, I'm not sure what you mean but I don't see a reversal here! All I see is price making a swing low, then making another swing high but failing to break much higher. Then we have a move back to support and yes it moves slightly below support but it comes back up immediately to recover and rally! So either you are stopped out because you have a tight stop (which means you can still re-enter when price recovers), or you are still in because you have a somewhat wider stop. Sorry, no reversal here in my eyes! Just a test of support on a typical shake-out!

de derde (= 'the third' for non-Dutch speaking people )

Und jetzt die zweite...

Here comes numero uno

Before I continue... there is also the chance that what wasps considers a 'major reversal' is not the same as my definition

Okay, so you knew that riddle by heart I bet you can't find that with 12 balls so fast...

I didn't say that I could predict what was going to happen next... But I'll tell you what I would do depending on market action in just a minute!

If you want some puzzles to get your mind started, let me know Here's a good one: You have 9 balls, one of them is heavier than the other. You have a balance which you can use exactly two times to determine which ball it is. No cheating or using of other aids. After you found that one (which is easy compared to this), try doing the same thing with 12 balls. But in this case you don't know whether the one ball out is heavier or lighter. I found this one really challenging. It's definitely good to keep you busy while waiting for a trade!

well we are still dropping further! but it was worth a 100 pips...

I see you started a new thread, so I think it's best I reply over there... don't want to disrupt the flow of your losing trades in this thread

Don't get me wrong... I think reversals that happen 'out of the blue' have less chance of being a 'true' reversal. Knowing when a news release comes out is important when analysing these charts. I mean, if for some reason we see a huge bar on very wide spread that, for no apparent reason and not around an S/R level, suddenly makes a U-turn, then I would suspect this happens because of an economic release.

I'm not sure what you're trying to say... but let me guess the moral of the story is that every move, every swing, happens for a reason so... there is no such thing as 'noise'? if that's what you're saying, than I think yes you're right otherwise... tell me again from the start!

and now I am a 'chartist'

to be honest, the odds that this will NOT re-test the lows are stacked against you...

Here's my view: