Why Is The Obvious Not So Obvious?

SnakeEYE, we need you here. Please come back.

 

And some of them are waiting for people like you to step in and support a statement like yours with something like: "That's the way you do it!..."

 

TO, does it apply to the market in the form of testing previous highs and lows? Is there a tell discovered when probing the market? Thank you.

 

Can you explain how to read a chart then? If my past trading results are any indication, then you are correct, I have no friggin' idea how to read a chart.

Help !!!

 

It's like talking to a post around here.

 

Thank you for p00ping in.

 

I found this quote here on ET about two years ago.

...
Question to Ramgopal Varma : Is it books or life experiences which made you like this?

Answer: Both, as books make you understand experiences and experiences make you understand books.
...

Being the Eternal Student and, for that reason, a teacher I was actually suprised with the effect the phrase had had on me. I suddenly understood why I was doing what I had been doing most of my life.

Here is another one that I like.
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“What you think will change what you do and more importantly what you do will change what you think” – Charlie Munger.

Answer by Ramgopal Varma: “You can’t do beyond your ability and can’t think beyond your thought” – Ramgopal Varma.

...
Both of them relate to the original question of this thread.

And there were also "Learn by doing" and "Just do it" that I also applied in mastering the market. These are not the best ways because they are not only costly but mess up your mind too. Try not to lose that much, ok?

That's all for now. I grew tired a bit of riddles, must go now and without distraction do some real work on my trading skills.

Good Bye! And Happy trading to Everyone!

 

The yellow bar was suggesting a short trade in the direction of the down trend. Similarly the last bar takes out the previous close and this time suggests a long trade, but here it is against the trend which is down. Also there is a level against which the last bar is pushing up against and the range of the bar is small compared with the average. So there is 1 reason to expect price to rise and 3 reasons to expect price to fall.

If price falls then a short trade seems correct with a stop above the yellow line.

If price rises above the yellow level and continues up then a long trade would seem correct with a stop below the line. If price falls and bounces up before hitting the low then a long trade would need a further confirmation.

I'm only trying to answer the question as I don't make use of these possible confirmation signals, and I don't trade on the timescales of the chart either.

Also could the chart be deceptive? I see all the recent price history above the yellow line but only a smaller price range below the line so greed biases me to go long and is further encouraged by the upward move of the last 2 bars.

 

Hmmm... the a bars look like the duration is weekly so the last bar isn't complete, so thats the possible reason its got small range, so it can't be used as a confirmation for anything yet.

 

well X10..will u really get "confirmation" or is that just wishful thinking?

no matter what time frame u look at..the current price will always be the same..or it should be..as some software will display it slightly different depending on where it is pulling the data from..so make sure that the price u are looking at is the same level on all charts

which is the best..place a trade at a possible low risk entry area..or a possible high risk entry area..the risk of course depending on how much u are willing to bet and if you are going long or short?