cowpip

I don't believe that is true. As I said before, most of the S/R lines (if you study back in time) are almost always accurate (virtually to the pip) over a life-span as far back as my platform goes (many years). Yes, price can respond within a 20 to 30 pip range of that center-zone, but if you actually look closely at price, you'll see that there is a remarkably coherent line that marks S/R over long periods of time. Just because price slices through one zone does not necessarily negate it. Years of developing as a zone should not be easily negated in a few weeks. EDIT: That does not mean you can't ignore it when you notice price isn't adhering to it. You can. But I believe you can't entirely axe it. It could have future relevance.

And THAT precious little quality is what separates the men from the boys... The ability and willingness to adjust strats when needed.

Agreed. 204.80 will be key - and is a probable good stop-hunt area too. I wouldn't be surprised to see price go sniffing around there.

We have a possible reversal on $/yen, which would be welcome right about now for GJ. Anything would help.

Now accelerate out of this hell-hole, you bugger!

And you STILL managed to get a better entry than me (I'm still holding that same long). :doh: Nice entry, btw.

Rabbits have serious issues with that as well.

Hindsight is 20-20 my friend. You traded what you saw. We all did. I could go nuts looking backward at lost profits. It does no good though. Just have to pick ourselves up off the floor (in my case, the basement) and start over. The danger that many people make is they sell into support. The problem in downtrends this vigorous is that it's not really possible to tell where support will be, which makes it difficult for me to sell into the trend after such a hard sell off. I'm not going to feel good about selling into this until I see a good retrace. That could take days or weeks, but until then, I'll just play it as I see it, even if I'm not seeing it right at the moment I take the trade. It's all I can do.

I can see the changes now. I was seeing the same file before, but now it's different. Maybe you changed it? Or my browser crapped up. No matter. I can see the differences now. Thanks.

Sorry. I'm wrong. Something's weird. My browser is showing the same file. Hang on here...

Nope. I think you posted identical image files. The filenames are even identical.

I took a look at both versions, and they appear to be identical to me?

Hmmm... very good point.

There's no sodding buyer's!! For now, shorting this bugger is a one-way ride to hell!

Right back down to the lows... You know... we would have been far better off trading the 5-min (yeah, I know!) using the 14-ema during all of this. But who can know what this pig is going to do? It's a bloody expensive pig to me.

I'm still long. Increased my stop size a tad given the reduced size. There's minor rejection now. I say "minor" because in this downtrend, every up move seems minor.

There is no way to predetermine their effectiveness, is there?

These support/resistance lines are all valid to me, Wasp. The problem as I see it is that the momentum down is just horrifically strong and is causing them to tumble like dominoes. I don't think it's a problem with your strat. Time to go to paper until this thing settles down.

Smaller size... long @ 203.24... probably a losing cause.

Closed @ b/e. I need to wait for this 4-hour candle to finish forming before I decide what to do next.

Hit yet again - big surprise - -40. Reversed at 203.65.

I went long at 204.05 on the second test of 204 just after the new hour opened. But this sad puppy still looks sick. It broke below 204, and now 204 is resisting! Slam up, GJ you bugger! EDIT: Still, we haven't yet closed (even on the small frames) below the S/R line I have. Pretty friggin close though!

Hmmm..... very interesting....

PS: Maybe just switching to the daily frames when the daily range exceeds a certain level would suffice?

What we've seen in the last couple of days is a little bit on the unusual side, Wasp. Is it possible you will be over-complicating your proven strat solely due to unusual circumstances? Or are you looking for an addition/confirmer solely for these times of unusual circumstances?