Hey ES. I was wondering where you got those event listings under 'code' at the bottom of the last post?
ES, I am doing some work and studying on fractal efficiencies, and as soon as I finish today I'll put up my reasoning regarding the levels. The Ever Expanding Horizons VIPER
TV, I replied to your post...do you just transmit...or do you receive... Thanks for your time Michael B.
TV, What I am suggesting is we already have our, dynamic regressive levels based on price, instead of some static lines of highs and lows, that everybody uses, We have very accurate hi and low regression bands within the custom CR indicator... Drawing more lines on the chart will insure that one of them works is all that I can contribute...maybe its not more lines that we need...but I am in hopes of "engaging" your thoughts... We have several brilliant traders in here and you are one of them. let's make ideas...and share the wealth. Do not let the insecure ones stifle you or make you insecure. There are so many ways of taking money out of the markets and receiving what the market wants to give....it is just endless... ThoughtHustlerSavant Michael B.
ES, I think that you need something to detect breakouts, if you put in some Weekly highs and lows, and possibly some calculated resistance and support levels you could use these as stops. Perhaps not at the point exactly, but within a percentage, you could also use these levels to calculate risk. For example, lets say you are taking a short and you are 50 pips away from last weeks support, well then your risk factor is lower than a short placed 3 pips above weekly support. Think about this, the reason these levels work is because of what you just said, everybody uses them, this is what gives them "memory". Now on a day like today, Bernake trumps all, but under normal conditions I think levels would help. Think about this, you are short, and the pair starts to move against you, it drives through the weekly and then the monthly resistance and support levels, this would mean that it is running seriously away from your position and, really, if it breaks the monthly, it is moving to a different price level and may never come back to where it was. Just a suggestion The Ever Thinking VIPER
Now you are talking my language...I got to think now...bye...gym soon..i am really gonna' enjoy Pimpin'TradingThoughtsSavant