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elle

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Posts posted by elle


  1. In view of the previous comments, I would like to say the following :-

     

    I have taken time to study different assets and the way they move and have found that " one size does not fit all"  . An FX pair will move differently to say an individual stock in any given timeframe. Also different types of Technical Analysis work differently in different types of markets. For instance , I have found that Moving averages work better in trending markets ( using them as support or resistance say ( Facebook one minute chart is shown as an example)) whereas they are not so good in tight range bound markets. Conversely oscillators that range between zero and 100 can be useless in trending markets ( they can stay "overbought" or "oversold" for long periods of time), although, they are good for spotting divergence.e

    It is essential, in my opinion ( and that is all it is) to be flexible. I do not hop from one set of Technical Analysis to another for the sake of it, but adapt to the market conditions and asset I am trading. 

    One person once said , a doctor or someone similar spends years studying to get where he/she is & now earns good money doing their job, if you think you can earn good money trading without putting in years of studying, you're wrong.

    Capture fb.PNG


  2. 3 minutes ago, TrendFollower said:

    @elle,

    Past performance (historical) does not mean future performance will be the same. If this was true then Cryptocurrencies should see an almighty rally making new highs! LOL. 

    You use the word 'chance' well there could equally be the 'chance' that it does not react to the parallel lines. I am being '****'s Advocate' of course. Did you create the lines on the chart yourself or is the chart created by someone else?

    For me are there any other indicators or signals that increases this chance? That is the key question, line and chart. What other indicators and signals can support any 'current' price action to increase the odds and probabilities in your favour when placing a trade?

    It's my chart , I take full responsibility for everything on it. No other indicators are used. I totally agree with your first sentence - that what makes this stuff interesting. As far as "chance" is concerned , maybe the word "probability" would be better - sounds more technical :)     Best wishes for a Happy & Prosperous New Year


  3. 2 things - price has sort of reacted to those parallel trend lines in the past, so there's a chance it will do so in the future & those red zones have been areas of "supply" in the past, ( sellers were there ) so may be there again in the future. I did post a link in another forum here with videos & stuff about supply and demand zones etc

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