Supports, Resistances, and Doji

Discussion in 'Journals' started by metabolicpanel, Sep 1, 2024.

  1. upload_2024-9-1_16-42-33.png
     
  2. Bad_Badness

    Bad_Badness

    Not sure what you are trying to show since there is not context or even text, but some things:

    1) There are far more than outlined AFTER the fact.
    2) Realtime is the only actionable value
    3) Even after the fact, you missed the actual ones that were tradable, like the 5000 level.
    4) Do you know how candles are made? Seriously, combine any two and get a new one. Where does that leave the "analysis".

    Bottom line. Sorry, but worse than useless. If you took the "rules" if there are any, and applied them without hindsight knowledge, I would estimate the false positive rate is about 80%. Hence worse than useless because it would take tremendous trade management to make this tradable.

    But maybe that was the point? Hard to say.



    upload_2024-9-1_14-11-37.png
     
    HawaiianIceberg, SunTrader and acrary like this.
  3. Here we go again schooling people. Support and resistance levels don't exist.
     
  4. schizo

    schizo

  5. volpri

    volpri

    What about demand and supply? Do they exist?
     
  6. maxinger

    maxinger

    1. Speak up!

    2. Simply remove all those horizontal lines.
    If you really must draw SR lines,
    only draw significant S and R lines.


    My forex trading coach (a professional talker, not a professional trader)
    drew millions of horizontal lines until we couldn't see the candlesticks.
     
    longandshort and padutrader like this.
  7. Of course they exist...but not in zones or levels that can be derived by simply looking at previous zones or levels.
     
  8. schizo

    schizo

    Give it up, Mr. Hindsight. :rolleyes: Never once I saw you post a trade in real time. It's all about if this, then that. Actually, that's worst than hindsight.
     
    padutrader likes this.
  9. What are you talking about? Just look at my spreads versus butterfly thread. I'm literally trading a swing in a triangle that you punters haven't even recognized as a triangle yet. Lol

    Or look at my Bitcoin charts where I projected 3 months in advance where price would be to almost the day.

    Or my home Depot projection where I derived from the chart that they were going to miss.

    I'll post the links later.

    By the way, have you ever posted a chart? Nothing memorable if you have.
     
  10. Darc

    Darc

    Hey, don't ebb his flow, he's my next "Guru".

    Keep going please @wxytrader I'm trying to see if theres anything I can learn off you. So far I haven't, but I'm patient.
     
    #10     Sep 2, 2024
    taowave likes this.