That is what the SLA method is as well. They are also waiting for a signal. The point that I am trying to make is that there are other ways to see the price action and see the signals with much less analysis and time commitment. The SLA method is unremarkable in identifying entries and exits. I understand that you liked my chart posting and will post some more as a window into how I view the market. I am not teaching a method. Just looking to have folks be enlightened that there are equally, and perhaps more, effective methods to secure entries and exits. The real edge is in the ability to manage a trade and that needs to be first priority. It's not being shown as a high priority.
If one does not find anything useful in the scribble method, then one should look elsewhere for answers that satisfy.
break [breyk] verb (used with object), broke or (Archaic) brake; broken or(Archaic) broke; breaking. to make a way through; penetrate.
True. There are many ways of making money in the markets. Indicators are one course. Algorithms are another. Planetary alignment is yet another. But of overriding importance is a thoroughly-tested and consistently-profitable trading plan. These are in short supply in trading forums.
This is one of the criticisms that I have of the SLA scribble method. The proponents are indicating that a large portion of the analysis is devoted to finding the larger context. But when the charts are posted with trade areas defined, there is no deference afforded the larger context. I believe that a trader could use a much more simplified, stripped down approach and disregard the larger context and just trade the entry and exit timeframe chart going either long or short. You may or may not recall that I initially postulated that the SLA is a simple system that is being dressed up as an overly complex method.