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07-03-2008, 07:52 PM
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I also believe that the 212.05 S/R line is now active, as well as the 210.55 S/R line. Both lines had two nice bounces. Any opinions on this?
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"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." |
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07-03-2008, 07:54 PM
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Quote:
 Edit: But I will trade them as scalp trades, so 50 pips
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"When I die, I want to die like my grandfather - peacefully, in his sleep. Not yelling and screaming like all the passengers in his car" (unknown author) Last edited by rogan : 07-03-2008 at 08:24 PM. |
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07-04-2008, 01:45 AM
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I disagree, looks more like random ranging to me, I like to see more of a bounce. The pics below show what I like to see when looking for a line to be reactivated. I am looking for a 'V' or 'U' type shape to form.
  For a line to regain its strength I want to see the line completely reject the price. If you look at the picture below you see a range stuck on the line (highlighted in red), and a strong reversal from the line (highlighted in blue). The bounce from the line immediately makes it tradable again. You should be looking for the kind of 'V’ or ‘U’ shape in the two images above. You should take into consideration the strength of the bounce. If it is a very weak bounce, it is not significant. I want to see a strong move towards the line, a bounce, and a strong move away. There is no exact amount of pips I want it to move, it is a judgment call I make at that time.  All I really see at on this weeks chart is two ranging candles part of a much larger range randomly stopping near the line. It is not a strong and clear rejection.
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"Invincibility is a matter of defense, vulnerability is a matter of attack" Master Sun Tzu Last edited by NickB : 07-04-2008 at 01:48 AM. |
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07-04-2008, 01:52 AM
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Oh an originally this question was asked via email. I asked the poster to post it in the forum because I do not answer these types of questions via email. Via email if I send a answer only one person will see it and benefit. Here in the forum this will probably get viewed by thousands of people with time.
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"Invincibility is a matter of defense, vulnerability is a matter of attack" Master Sun Tzu |
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07-04-2008, 08:06 AM
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There was a bounce from 202,05 again, so it does have trouble breaking.
Don't know if 70 pips is reachable on the break, but if it goes above the line, 30 to 50 should be up for grabs. ...in which case it will have reached the 212,30 anyway. Last edited by jaansk : 07-04-2008 at 10:02 AM. |
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