djhenry1981 wrote:Captain Jack wrote:
Let me make one thing perfectly clear. When looking for levels or counting levels, I am not talking about the color of a candle. I have stated that the 3 day cycle is 3 days of rising or falling price, that begins from a peak LOW or a peak HIGH. Nowhere do I say to check the color of a daily candle or any other candles to determine the levels or counts.
What can be more simple than drawing a line from the low to the close of the day to see if price rose that day?
What can be more simple than drawing a line from the peak high to the close of the day to see if price fell?
In the NZDUSD example, did price rise from the PEAK low on the 20th? YES! It is the PEAK low and that is level 1. Don't try to add a bunch of stuff like GMT and candle color to something as simple as 3 days of rising or falling price, from the peak high or peak low.
When it comes down to it, as stated, I prefer a broker whose D1 candle closes at 5PM est to coincide with NY close and who doesn't use a Sunday candle. BUT, it doesn't matter in the counts because you begin from the peak low or peak high. Does it rise from the LOW, or does it fall from the HIGH.
Nowhere in this thread is broker time mentioned. Asian, London and NY all operate the same, every day. Nowhere in this thread is candle color mentioned.
How do you determine peak low or peak high? Seems pretty simple...if price goes lower, then it's not the peak low now is it? If price goes higher, then it's not the peak high is it?
The candles can all be peppermint sticks and you can still determine if price rose or fell from it's PEAK LOW or PEAK HIGH.
If somebody does not understand this, I'm sorry, I can't "make" you see this. Open your minds up and forget all the BS that you've been told about this market.
CJ
Hi all,
I'm having trouble digesting this part of the level counting. I've read it, and the pdf over and over, and still I'm confused and just need clarity for what is probably glaringly obvious. The last light bulb that needs to go off so to speak.
Is it correct to assume that by the following passages
Captain Jack wrote:
What can be more simple than drawing a line from the low to the close of the day to see if price rose that day?
What can be more simple than drawing a line from the peak high to the close of the day to see if price fell?
[...]
Does it rise from the LOW, or does it fall from the HIGH.
Unless the close is the high or the low, it does both, so therefore am I correct to assume that the what determines an UP day or a DOWN day is the which part of the daily high or low to the close it moved the most? EG If it moves up more from the low than it does the high, then it's a UP day. If it moves a further distance from the peak high to the close than it did the peak low to the close, then its a down day? In the attached file the M which forms on the larger time frame is evident. However, it retraces down a little from the peak high, but it doesn't seem logical to count them as a down day, given the push up then slight retrace. There's more movement from the low to the close than the high to the close.
I could be completely wrong, but I think the point CJ was trying to make that price on the daily candle may not change much from open to the close, but throughout the day it can move in a direction, eg down then back up again, creating a pin bar, which could be counted as an UP day albeit the open and close were fairly similar.
I apologise for the wordiness of this post. It's hard to explain what I mean, sorry
hehehehehehehehe the Straightaway Trade.... remember it happened to me last week on the GBP/USD..a Long Trade that was , Sean and yourself pointed that Setup out when I was trying to Set up some Charts at the 3 Musketeers Zone....
