Walther, can i ask if you use calendar time or bars? Calendar time in minutes with overnight and weekends seems a bit "to much". Maybe it´s just about finding the habit
people are asking me how to use this info , i will give one example. This was 12:40est 11-17 NDX100 Pull 5 min chart, cover everything after 12:45est with sheet of paper. Because trend was up we will buy. Draw trendline at 12:40est price low. This is your buy price. Nearest low 1660 is your stop. Paperboy, Mostly I use time, I find it easier then counting bars . Also if you extend some properly drawn trendlines till they intersect, this will give you future point in time.
Hi! Thanks. Yes trendlines are interesting. More interesting than i first thought. It´s not just a line. Both price and time.
Walther's approach is really interesting: he's not forecasting price levels, but significant moments in time.
..where important( tradeable ) price level will be established. Watch for that tomorrow around 11:30est. NAZ 100 One more example on how to use it. Today at 13:20est ( posted last Thursday ) draw horizontal trendline at 1676 your stop is previous significant low, 1675. When price will get past 1676 again,buy. Look at the charts of other indexes as well.
Today around 14:30est important price level will be established.I think that price movement is looking little tired on daily charts.Because of a short days and lot of players out for a Thanksgiving I would like to see some decisive action before commiting to anything.