Recent content by Szimba

Thank you for the corrections and insights! As for the buying points, Mamis (and probably others before him) says the first point to buy is the SC, the second is the retest of the low, the third is the BO and fourth is the retracement. I plan to go backward in this list when developing my...

In the light of volume I still wouldn't call 5 as SC, because the trading activity is the same as four bar earlier and the bar's range also not unusually high. But that is me. Your second question was answered by Dbphoenix. Effort-effect. Szimba

Without volume, I would just guess. I call selling climax when in a long downtrend fear hits new high among traders and all those who feared are rushing to sell. This has to effects. The first is that the sellers are not waiting for better bids, but hit the actually best bid to unload whatever...

Nice job Firewalker! Who am I to give you advises? I'm just a same novice as you, but since you mentioned my name here are my thoughts: I just added a couple of S/R line which I would have drawn, probably you already seen them. You can get more evidence (or not) of selling exhaustion at 5, if...

Yes, blending candles to one single candle is not a problem. The reverse can not be done, that is why I have to look at lower time frames. I.e a hammer can be formed in a thousand way and not always masking the same trader behaviour. (Lets compare a steep decline in the first hour and then a...

When I started to draw support line at 51, the top you mentioned was a future. It didn't exist at that time, therefore I wouldn't expect price to find resistance at 52. I mean I wouldn't say it has more possibility to turn from 52 than say 52,8. Even if I draw a support somewhere it doesn't mean...

My trading plan (trading retracements in stocks with runaway characteristics on the daily chart in the US) doesn't satisfy me, because I got very few setups. (There was only seven trades in the last three months) This is clearly not enough to earn a living from it. And also not enough to draw...

Ooops I forgot to attach the charts.

I attach both charts. This is a very good example how S/R works! I reposted my original chart and made some annotations which makes easier to compare both charts. We can see, that S/R didn't came from nothing, instead it's origination could be find in the previous chart. The context didn't...

Thanks for your insights. Szimba

Even if I take a look at a printed chart, is NOT hindsight. All you have to do is ignore the big picture, and start to read the chart from the left to the right bar by bar. There is no other way to read a chart if you do not want to fool yourself. My approach is that I draw S/R lines and when...

These are the questions you have to figure out yourself, if you want to create your OWN trading. For me, I call reversal when price reverses from the boundary of a range. Retracement is when price reverses the direction in trend.

Whether one plays reversals, breakouts or retracements here are the entry points what I see: 1 Reversal from support 2 Reversal from resistance 3 Breakout 4 Retracement to resistance 5 Retracement to resistance If someone plays all or only one of them is only up to his trading strategy...

If this game is free for everyone,than here is my view: 1: Price denied to close back under the previous SL created by bars number 4-5-6. Indicates that traders were interested int hat price to buy. 2: This the retest of the potential support from point number 1. Since at this point buying...

Move. Since I can not attach charts in this journal, I will continue at http://www.trade2win.com/boards/showthread.php?t=13450