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False Break of Support & Resistance
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False Break of Support & Resistance

  #21 (permalink)
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Big Mike View Post
Now you start to understand, there aren't many black/white areas in trading. Just a bunch of gray.

What you do with the information is dictated by your experiences and personality, psychology, and more.

I think it is good to ask questions and realise there is no absolute answer. I read an interesting article today here and i find this type of thinking is the way to go to learn how to trade certain areas. Maybe the thread starter is too focused on a precise price level acting as support/resistance. In most cases, it's an area. If you are convince an area may act as demand or supply then you can enter at multiple levels within the area (practice known as averaging down) and the trick is to place your stop loss out of this area. At worse, if the trade does not behave as expected then you can expect to close your average position at break even or with a small loss.

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  #22 (permalink)
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ofatrader View Post
Another example read it in contex, but that show you things that you can try to see for understand and think in reversal actions:

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Try to spend time reading buy sell activity and you will see things clear at levels that can show you reversal actions

Is there a certain chart timeframe or type that works best with the volume ladder? i trade intraday.

Thank you

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  #23 (permalink)
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Quoting 
At worse, if the trade does not behave as expected then you can expect to close your average position at break even or with a small loss.

Know how locate new buy interest or sell interest at those areas (i don't believe in a one price level), can give you the edge for to know if the break can be real or not

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ofatrader View Post
Know how locate new buy interest or sell interest at those areas (i don't believe in a one price level), can give you the edge for to know if the break can be real or not

That's how I want to use the volume ladder. To possibly increase my odds of trading a sup/res level

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  #25 (permalink)
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RickW00716 View Post
Is there a certain chart timeframe or type that works best with the volume ladder? i trade intraday.

Thank you

like you see i show you Range charts because you can see an action defined in a specific area and you can look well at buy/sell activity


Last edited by ofatrader; January 27th, 2014 at 02:56 AM.
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  #27 (permalink)
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RickW00716 View Post
That's how I want to use the volume ladder. To possibly increase my odds of trading a sup/res level

If you learn to read the market activity, i have been show you footprint charts but you can use any other tool that show you this activity, you can increase your odds. It's not a possibility, it's a certain fact, but learn how to play the game, and accept that you can be wrong, too

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  #28 (permalink)
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trendisyourfriend View Post
or with a small loss.

i like this words, another edge if you find where are buyers and sellers in any action, area, level....

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  #29 (permalink)
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ofatrader View Post
An picture is worth than thousand words

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This is an example about what was explained up. It'sn ot only what you can find, but looking at this type of actions at levels can give you an edge for to know if the break is true or false

What indicators/tools/packages are you using here in this chart?

Mike

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Last example, it's late and

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nice discussion,of course and glad if this comments can help in any way to understand this hard game

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