Wednesday, 8 January 2014

READ: Support and Resistance instead of TLs

This a reading practice post...

I noticed as I was trading this AM that just trading between S&R seemed simpler and did actually help the PL in terms of avoiding a trade that hadn't reproached a prior S/R level. I can't pretend to have witnessed the trades that occurred from 1135 - 1620 in realtime and I am no longer foolish enough to say "but they look easy enough" but from 0930-1135 and 16.20-1820 I hand on heart acknowledged all the green arrows in real time. I missed however the Aqua arrows but can subsequently see why they are trades. 

This is something that ScalpingtheStretch/LevelHeadedTrading has been patiently telling me for months. I guess my head and eyes needed to catch up with the information. Anywhoo, like he says "less focus on candles and more focus on context" is obviously the way I need to go. And to be honest made for a far more enjoyable experience. 


1 comment:

  1. Its amazing how much easier to became to not "see trades" all over the place once eliminating the candles all together. They are really just another indicator.

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