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So, what did I trade my beloved Keltners for? I traded it in for this... A chart that buddy858 clearly points out as a bunch of "horizontal lines everywhere." Fair enough. The first attachment is a 10 Range chart. The second attachment are the same "horizontal lines everywhere" but on a 3 Range chart.
But that's not all. I wanted another layer of identification. So, what does someone who is obsessed with "horizontal lines everywhere" do? They add more levels of course!
Can you help answer these questions from other members on NexusFi?
And finally, putting it all together... I got this...
So where would someone who has a low tolerance for risk take his trade?
Hint: Remember I am a S/R trader
Hmmm, I suppose I should start another Journal since "The Beauty and Logic of the 6E" isn't accurate.
I was, again as a S/R trader looking at the DX and the 6E. As the DX was coming into Support and the 6E was coming into Resistance (and vice versa) I was looking to take the trade.
This part really stood out for me. Maybe it's just the way you worded it but 2 trades mean nothing. Making a decision on what you look at and what tools you will use to make trading decisions require more than 2 trades. I realize that you are trading SR and not a trend trader so maybe in the end Keltners have no place in your tool box - fair enough. But this kind of statement along with the general context of your post is very concerning.
An edge is defined over a large set of trades. What is large depends and is relative to your frequency. I don't know that you'd want to draw any conclusions about anything with less than 100 trades and even that's a very low number.
I wish you luck. Relying on income from trading as a sole source of income when you are still figuring things out will definitely add pressure to something that's already next to impossible. Obviously you know how hard this is.
The chart shows significant Support at 2740.25. If it gets there in the OVN I'll take it long with a 4 tick stop to challenge the HOD. I have an alert at 2741.
While I too trade with Market generated info, the COT has come to play an important role in my decisions. Came upon a glitch maybe you can answer. I want to use the UniRenko but it leaves gaps in the COT. Would you know why?
for this renko if there is a gap in price it will fill the gap with make believe bar, why? so that you can see a nice looking chart. So no data for the make believe bar.