Support & Resistance Trading

[tommiho]

Hi very useful tread, please do carry on.I am reading CJs tread too and I think it`s great when people with such a great explanation are showing how to pin the fox properly. And I have a question if you don`t mine, would you consider the W pattern valid if the 2nd leg was lower than the first one? I think CJ said it doesn`t matter but it seems if there is HL showing on 2nd leg the signal is stronger.
Honestly I am seeing the Ms and Ws everywhere now but can`t use them effectively yet. What is stopping me to use them for instance, when it is a CT is how far could it go.Not to set to many pendings and get market reverse on you.How to recognize pins correctly is another challenge, as when I checked them on past charts a lot of them turned up to be not valid at all.Perhaps it requires deeper analysis as you showed?

Thank you

[tommiho]

Thank you for answer much appreciated.

[Sequoia]

Hi Follownev ! could you share your S&R indi please? I think is very important as "W" and "M" have to be in a S&R Area to be valid right?

[mobthehop]

Hi followNev,

we really try to play nice here.... so it would have been good for you to either provide a link on FF or simply attach the indicator to your answer... would probably have not required more time.....

Can you confirm that you use a version of this indicator http://www.stevehopwoodforex.com/phpBB3 ... f=27&t=514 which is actually available here as it is coded by slipshod....

Cheers / Mop

[Sequoia]

Hi.
You can search Forex Factory or Google for SS_SupportResistance

http://www.stevehopwoodforex.com/phpBB3 ... f=27&t=514

Thanks allot, great for S&D zones

[tommiho]

https://www.youtube.com/user/petefaders

The above link is to a trader who I respect. The videos explain it all. I hope you get as much out of them as I have.
This combined with CJ's first posts is a true winning strategy.

I would also recommend this tread on FF.
Quite interesting reading.
http://www.forexfactory.com/showthread.php?t=157629