Scat captured zero of the 185 pts.He works for Best Buy Geek Squad. KISS- Keep It Sketchy Scat! KISS- Keep It on Sim Scat!
I appreciate what Scat is attempting, it's frequently difficult to educate on ET without it turning into a bun fight. Without posters starting threads, there would be no ET. Because everyone has their own methods, others assume you are clueless. Anyhow, thanks Scat.
Take a look at the Double Top and Double Bottom Setups in that chart. https://www.elitetrader.com/et/thre...ta-trader-wannabes.372942/page-4#post-5773535 They have specific levels where to: 1) Buy or sell to enter, 2) Target exit, and 3) Stop exit. The setup is detailed in a linked document and by following the simple directions as price unfolds across the chart, even on the very chart that you said "finding S/R levels on Copper would be difficult" shows a plethora of opportunities right there in front of god and everybody. In terms of the Dbl Top/Bot setup, where are those periods on the chart you posted? You burried the headline, lol, therefore so did I. Your statement spills the beans. If you a non-mechanical trader, then why blame PA, lol. YMMV Do your stats. Risk control, It's in there in the Dbl T/B instructions. Do Stats. A mechanical trader who can't follow simple black and white directions on a Dbl T/B setup? Why blame the setup? Who's fault is that? (seeing something and doing something are two different kettles of fish) A man sees what he wants to see, And disregards the rest. Paul Simon Don't feel like the lone ranger mick. I'll bet that we could count on one hand the number of ETers who have statted out 100 double top and bottoms and still have fingers left over to click the mouse and enter the next trade with, lol.
I run an algo and numerous times have looked at the result of something and said "Oh, the algo has an error in there, that's not what I'm seeing in the chart". Then after studying the code discovered the algo was correct, it was me looking at the chart interpretation which was wrong. Our eyes have a way of deceiving us.
These things happen. Skill and experience tend to be inversely proportional to this outcome however, lol. You still down on your opinion re: trading dr copper?
Yup, copper can be a dog to trade. Monthly chart of copper cash. Frequently goes thru long periods of difficult chop. Now tell me otherwise, there are easier trades. 10 years, from 3.5 to 4, whoopee.
I'm still waiting to hear your response to the Double Bottom / Top post above for that no sup / resistance copper chart...
This is what we like to hear. What are they? Monthly chart trading should expect the standard issue of range per run as any other timeframe, no? As if trading monthly is of interest (even that Double Bottom on your Copper chart went from 3.3 to 4.7, not too shabby). Are you sticking with the monthly, weekly, and daily examples? Good Daily traders in the futures category?
This is Scat's thread, I'm not in the mood to takeover, nor in the mood to talk about dble tops and bottoms which is of little interest to my trading style. Besides, it's 4am where I am.
This is to be considered by budding PA traders when considering whether or not there is "anything to it". To any interested in exploring the possibilities of trading Price Action... Believe none of what you hear, but half that you see and - Do Your Stats. If you are not inclined to do the work, then take the shortcut and go artistic - intuitive.