A struggle with Lessons 1-5
Posted: Thu Oct 23, 2008 9:10 am
I am have been experiencing problems in coordinating the time frames in my trading.(lessons 1-5) I have placed the various lines and dots on my historical charts and found that on some bars,there are instances where the highs or lows do not terminate near a line or dot, sometimes the distance that they are away is significant on my HTP (e.g Qtly). The problem I have found in practice is that while I can see definite surport or resitance patterns on the focus or LTP as yes patterns the the lack of a Line or dot on the HTP that is locating at the focus and LTP lines and dots,causes me doubt,is the Focus or LTP finding surport or resistance or is going to move further until it finds something in the HTP ? its not until after prices move away that things look clear which by then increases the risk to trade.
One area that has given me trouble in this respect is the return to dot. With Stock market trending strongly,I have found that the return to live dot that occurs in a trend is only clear after that bar has fully formed, in the initial stages when I would like to enter the live dot is not at hand therefore I am in doubt as to where is HTP surport likely to exist ? Having trends on other time periods also brings the same problem , I do find that things are ok if lines are locating for surport in the area of trend surport.
In conclusion I am understanding that for surport or resistance to be valid there must be a definite line or dot in the HTP that indicates potential surport or resistance and that focus and LTP lines and dots must locate and or provide yes patterns near to the HTP level ,( question how near is near? ) I unfortunatley dont have trade station charts,I can send excel sheets with the price data , and I could highlight the bars that have given me trouble.
GB
One area that has given me trouble in this respect is the return to dot. With Stock market trending strongly,I have found that the return to live dot that occurs in a trend is only clear after that bar has fully formed, in the initial stages when I would like to enter the live dot is not at hand therefore I am in doubt as to where is HTP surport likely to exist ? Having trends on other time periods also brings the same problem , I do find that things are ok if lines are locating for surport in the area of trend surport.
In conclusion I am understanding that for surport or resistance to be valid there must be a definite line or dot in the HTP that indicates potential surport or resistance and that focus and LTP lines and dots must locate and or provide yes patterns near to the HTP level ,( question how near is near? ) I unfortunatley dont have trade station charts,I can send excel sheets with the price data , and I could highlight the bars that have given me trouble.
GB