This is what I hate about Trend Lines

Discussion in 'Technical Analysis' started by ang_99, Sep 13, 2008.

  1. astral

    astral

    We need to take several things into account: Tick chart =/ Time based chart. Therefor when you debrief you either debrief your chart based on the tick or based on time or both separately.

    An alphabet is a standardized set of letters — basic written symbols. You can not learn English and Chinese at the same time. Internalize the characters of the English alphabet first, so you can associate a certain event, movement with that particular character. Once you have finished this, you then move on to the translation of these English characters on to Chinese characters. Plain and simple

    Some things for you to consider:

    -Whether on a tape, traverse or channel after an ftt (Point 1) I expect point 2 to be exact at or one tick below the trend line . This solves your hatred.
    -The endings of our Point 1 (ftt) or point 2 or 3 many times corresponds with the end of a point 1, 2 or 3 of an other tape, traverse or channel (up or down).

    Look at the grey lines I drew in. I draw them always on my chart. When I am correct, price will stop one tick or 3 above, at or below my grey lines. I exit when these boundaries exceed. At a higher skill level, I would reverse.
    However, they can also be used in a different way (as slalom movement)

    We are so privileged to be able to draw trendlines in such a manner, they always follow objective rules. I've said it before, the market is a matrix, every high or low is connected.

    Attached:

    Channel is in Green.
    *Look at point 2 of the brown Traverse following after the channel FTT. Do you see what I'm talking about? But remember the market doesn't always show it this clear, only 95% of the time:cool:
    *Notice the thick grey lines. This is "coarse" level. Meaning I can draw 10 more, but then I would find myself on Bug level trading. Notice how price ends around these levels.
    -Look how the FTT of the First brown traverse corresponds with the last Brown traverse its FTT.
    -Look how the 4th barof your chart (blue traverse FTT) corresponds with the blue line (traverse FTT) in your channel.
    Pick any chart and you ought to find several of these cases.


    There are literally thousands of these kind of trivial aspects. It's litterally trading made easy.
    The more aspects internalized, the more signals you get. There is no risk at all. If I were you, I would specialize myself first in the time based charts. Once I would reach expert level, I would expand my knowledge on to different types of charts (otr, tick,...) to seek for a greater understanding of the matrix.
     
    #11     Sep 14, 2008