just by looking at the scrolling chart, you should have been able to figure out how basic price action works, without indicators. one hint is to look at the colors. as for getting whipsawed, choose a less sensitive time period and very importantly risk management. just on er2 last week, you would have been able to net at least 2 points a day. works on es too but returns are not as good as the former, probably the tick size has something to do with it.
Yourself included. Remove the plank from thine own eye... EUR/USD 2HR chart: http://www.streamload.com/hcour/FX/ED_2HR_10-03_LT.GIF http://www.streamload.com/hcour/FX/ED_2HR_10-03.GIF At A a SC, B an AR breaking the supply line of the shorter-term channel decisively, back to the well-established supply line of the longer-term channel. A & B establish the trading-range. C a ST, shakeout, but only to the midpoint of the channel, this following the strong upthrust of the channel at X. At this point, as normal in the beginning of a trading-range, price swings remain volatile. Then volatility and spreads contract, note price hugging the supply line to D, which is a shallow test of C, followed by an unimpressive rally to E back to near B and the TR high. Then a reaction back to the bottom of the TR at F and further consolidation. Great effort at G, upthrusting B & E at the TR highs, followed by a reversal bar. The next 5 bars are dojis doing nothing, then the EOM (ease-of-movement) bar on steroids that breaks the trading-range. H