Thread: holy grail support and resistance?

Originally Posted by ;

quote yeah away course. . But do you have a fantastic risk ratio? Your loses need to be smaller then your'small' profits occasionally... and if your entry after the move has begun. . Where do you put your sl? Since the risk/win ratio is currently worst is not it? Goodluck anyway, id like to hear from you, tk

Hi Trading child,

I'll comment some more in due course. I trade using a proprietary indior that I call my DDM. . My Draw Down minimizer. It's a version of a reasonably well used, albeit often incorrectly, indior. I'm not in the habit of straying too far from people who have done it gone before - their errors have often been my saviour this often times dictates the SL for my trade. I won't let the out of the bag at this time - as I said, I have recently returned to trading and am in the process of doing a little ch up work. Once my machine is up and running we will chat again. Talk is cheap... cash buys the whiskey!
Once I am ready I will print my account - so give me some time please. I trade strictly within the money management rules.

Originally Posted by ;

quote yeah away course. . But do you have a good risk ratio? Your loses need to be smaller then your'small' profits occasionally... and in case your entrance after the move has started. . Where do you place your sl? Because the risk/win ratio is currently worst isn't it? Goodluck anyway, id like to hear from you, tk

I said I would comment further - Appended is my current DEMO ACCOUNT statement.
You are able to see my settings are beginning to be accurate.
Initially the setting were somewhat too fickle - now they're somewhat more synchronized
and profitable... I will post more once my system shows its true mettle.

Originally Posted by ;

I am performing some confluence trading now so the levels are more powerful for sure. It works fine for me. Moving on into the next chapter now. . Emotions, step by step, every day better skills

do you want to enlarge your way of confluence trading?
I have been fairly profitable till mid August when the markets shifted especially after 24th of August.
I am now battling with my current egy which entails using Support and Resistance and also 3_LL_Semafor indior (based on ZigZag).

So I am looking for new fresh ideas and seeking to find what I need to do in todays markets states.

Originally Posted by ;

I really like utilizing Support and Resistance in my trading, granted I am still relatively new in trading, but I really do find this way, among the several out there, helps with my trading. Usually at the start of the week that I look at higher time frames and only mark amounts that are useful in the neighborhood of current price. I utilize the Stochastic indior to see divergence and some moving averages on the charts too.

Orienting at higher timeframes is quite significant even in short term trading. I can not trade making decisions exclusively on short timeframes as it basically the same as random choosing of leadership. Fundamental analysis isn't any important for any pair at least you should now complete market sentiments (bullish or bearish)

Better to draw support and resistance from day and weekly charts, not a big fan of support/resistance on Quite low time trame (1 to 30min)

IMHO and as already mentioned, support and resistance areas are extremely important and impacting all traders. The Swing-Highs/Lows of this Day and Week chart might form a very difficult resistance for the price to crack through. What I do, would be to closly examine the volume and the price spread at this essential places. In case the price is operating very fast with large candles and higher volume directly to this area, it probably will burst. To break a support/resistance place you will need the big participants of this market and therefore major volume is needed. There wont be a rest of those areas with very little volume and little price spreads.

So I would suggest to have always an eye on the volume in critical support/resistance areas from the chart.

For me personally support/resistance areas are the Swing-Highs/Lows of this Day, Day and Hour Chart, then also the pivot points can form a strong support/resistance, and additionally the bollinger bands. In combination with some volume-analysis you'll get a fantastic impression if the large players want to break those places or not, and for that reason it's possible to plan your next transactions.

Scroll back on a chart... Draw a random line in your charts.... Now transfer your chart ahead... See how price reacts to it... Does it seem to be support/resistance? Likely... Draw another Random line... Keep repeating... till you get the point...

Originally Posted by ;

Scroll back to some chart... Draw a random line on your charts.... Now transfer your chart ahead... See how price reacts to it... Does it seem to be support/resistance? Probably... tug another Random lineup... Keep repeating... till you get the point....

Okey, i get your point. How can you look at charts? supply and demand?

I always check candle patterns to determine support/resistance degrees on higher timeframes. - Weekly, daily, 4h chart.

I am usually taking the trade on lesser timeframe chart either 15 min or 1h chart.

There are also certain patterns what hold more frequently thant others.

Originally Posted by ;

I have been fairly profitable till mid August when the markets changed particularly after 24th of August.

Are you speaking about China economy fall down commodity markets and equities? I was struck by the turmoil too, just two of my rankings around Hotforex were shut with approximately 800 bucks loss, managed to gain approximately 450 bucks back but still struggling to ch up, entering long on EU stocks.