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Its almost a year for me now of studying charts using the kewltech method and I have come pretty far. The missing part from before of progression is starting to make sense, I could just not understand it from the blog posts but watching the price action over and over especially on shorter time frames helped me understand progressions. To me its basically the exhaustion of buyers and sellers as we yoyo from leg start to leg start. At some point one side gets the upper hand and off we go. I still cannot really verbalize my understanding but I understand what will happen as I watch it. My biggest issue now is knowing exactly which level to take trades off within the leg start, this is easier on shorter timeframes where the leg start is small but on a 4 hour leg start this can be 0.50 to 1 point on CL of variance. Usually I either wait for the perfect spot which never comes and I miss the move completely or I start building my position at different levels that I deem important, this normally leads to taking heat on the trade but when I am right... ohh boy.
Any hints to picking out levels within the leg start would be greatly appreciated... Maybe I am just being a perfectionist and should be fine with scaling into the trade as I have been doing.
Timmymagic07, your blog was helpful for me when it was active, thanks for writing it. It did not give me the Eurka moment but it was still a good resource. Any little bit helps in this long difficult solitary journey.
Can you help answer these questions from other members on NexusFi?
is they a blog i can look at from Timmymagic07 on way back machine perhaps, i pretty much have the same problem, i can't get it down into a mechanical system and they is so many levels how do you know which ones are important, they is the standard s/r and the legstart types of levels, how do you decide what ones are important or not?
I agree with the sentiment of just reading the original blog over and over and just looking at the charts on multiple time frames. At this point of my experience level I try to trade only the big leg starts on the bigger charts like 1 and 4 hour. I form a bias on my understanding of progression and where price should go and not go if I am wrong and trade with wide stops. Ideally i'd like to get more precise and use much smaller stops but the only way I see of doing that is switching to scalping every rotation but I am not into that kind of rapid decision making yet. I like the stuff from Timmy's blog where he talks about auctions, it's a fantastic explanation of momentum.
Lakai says learn how to read a chart and then learn technical analysis, how are these different from each other since i and how can you learn about them? Thanks
Hey mate, I noticed you mentioned you have a pdf of the entire blog. Do you mind sharing it with us? I noticed a few mentions of the pdf in here but it wasn't attached anywhere in the thread. The archived site is hard to navigate in order.
Question to the more astute chart readers who have a working knowledge of this method.
Why did CL not get a good smack from hitting the End of June / early July leg start (supply zone) ? We had momentum divergence approaching it on the 1 hour time frame, everything seemed right. Is this just a matter of not all trades work or did I miss something in my analysis? I expected a much bigger reaction but it just never came.