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The Beauty and Logic of the 6E


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The Beauty and Logic of the 6E

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  #81 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
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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!

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  #82 (permalink)
Salt Lake City, UT
 
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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

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  #83 (permalink)
Salt Lake City, UT
 
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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.

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  #84 (permalink)
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Aragorn View Post
I am still learning. Just the other day I discarded, yet another, indicator. After a couple of losses last Friday I realized that my beloved Keltner Channels needed to go.

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.

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  #85 (permalink)
virginia
 
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Aragorn View Post
.....
I like Keltners. It was one of the first (and there were several) methods that I studied. Giving it up was difficult. ...

the question I always ask myself is which indicator(s) help me to make up my mind, overtime only S/R levels and Gom CD MA make sense (for me)

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  #86 (permalink)
Salt Lake City, UT
 
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This was off the Open...

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  #87 (permalink)
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And this was off the only significant pullback

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  #88 (permalink)
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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.

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  #89 (permalink)
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cory View Post
the question I always ask myself is which indicator(s) help me to make up my mind, overtime only S/R levels and Gom CD MA make sense (for me)

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?

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  #90 (permalink)
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Aragorn View Post
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.

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