I didn't "simply add one more to the propagation of an urban legend". Here's 2 of my references: url It says: "Alexander Elder, in his book Trading for a Living,[11] said “I interviewed W.D. Gann’s son, an analyst for a Boston bank. He told me ...

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Thanks for posting the info, but what you need to keep in mind is that W. D. Gann could never support himself trading, and effectively died broke.

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Traders can factor in almost any "thing" into their trading decisions if they want to, such as: The News Financial Reports The Time of Day Momentum Elliott Waves Supply & Demand Daily Pivots Volume Yesterday's High, Low, Open & Close Inside & ...

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image I hope that this chart that 40PipsAlan created helps to prove to everyone that Support and Resistance is HARD to determine and can't be relied upon. It's always hit or miss. It works when it works, and it doesn't when it doesn't. Like the ...

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A line chart is not ACCURATE. It does not show the TRUE highs and lows. So please try it on a bar (or candle) chart which is accurate.

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Okay. Please show me how that's done on the chart I just posted. Or you can just do it on a current 4 hr. EURUSD chart and post that.

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Below is a current 4 hr. EURUSD chart. How exactly does one find Support and Resistance areas on it???? image "Everything should be made as simple as possible, but not simpler." - Albert Einstein

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While you are correct, if you look at the bigger picture (the Weekly chart) you'll realize that it's not really that important. To me, S/R is just like flipping a coin, it's only right about 1/2 the time.

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I don't have a template. The indicator is in Post # 3893. All you do is drag it (from the Navigator) onto the SAME lower window multiple times and change the settings to what's mentioned in the post.

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For me I think {What's} most important is that you can see change in momentum: With that I mean that you need at least see that the HMA pulling back/getting flat a little before it continues. What kirinda wrote (in red) is correct. A Continuation ...

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Two things I want to address.... 1. I said in Post # 1: "My hope is that other traders will recognize the power of these templates and contribute even more ways to trade them, hopefully in ways even more effective than I have presented, and that ...

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No problem. You're welcome. Thanks for contributing to the thread.

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1a. AT THE MOMENT that the 4 hr. RSI crossed above the 50, were BOTH other RSI's above the 50???? Answer: NO. So now you are going to add ANOTHER rule which is: "If if either the Daily or the Weekly RSI is above the 50 AND the 4 hr. RSI crosses ...

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On the chart below, in the lower window, I placed the 4 hr. RSI in red, the Daily RSI in white, and the Weekly RSI in blue. The green vertical lines show each trade that you would have missed by only taking trades when all 3 RSI lines are ...

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People can certainly trade any way they want, but my feeling is that if you only take trades on the 4 hr. chart when the RSI on the Daily and the Weekly charts are going in the same direction as the 4 hr. (above/below the 50) then they are going to ...

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Long = Buy Short = Sell

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Good job! I am glad to hear that it's working for you.

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You are right, psychology had nothing to do with it. But following the rules correctly would have.

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For those of you who are struggling, here's a suggestion. Try trading a simplified version of my methods. Such as this one below: image If the candles are blue/blue and the HMA is green and the the RSI is above the Purple 50 Line, only take long ...

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The Daily Trading Coach file

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