SLAyers' Notes

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Four days and no posts? I've been lurking for a long time but am comfortably trading with your method. Nothing much to say, though. I left, trading hourly bar trend lines, if you remember, db, and have been dabbling with lower TFs but came back to hourly's, again. Must be age, I think, but I don't seem to be quick enough, or have lost the inclination for small TFs

Anyway, hourly's seem to be my thing and am steadily collecting points.

Good luck, everyone.
 
Given the simplicity of it, the posts quickly become repetitive if no one has any questions. And if trolls are excluded, the threads can remain reasonably short (the first one had maybe a dozen truly useful posts).

As for the hourly, I agree. As long as one takes his cues from the daily, it's difficult to go wrong. Glad you're finding success with it.

Db
 
NQ Daily. Just looking at what's happening right now. 4730 is something to keep an eye on.
 

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dbphoenix said:
Given the simplicity of it, the posts quickly become repetitive if no one has any questions. And if trolls are excluded, the threads can remain reasonably short (the first one had maybe a dozen truly useful posts).

As for the hourly, I agree. As long as one takes his cues from the daily, it's difficult to go wrong. Glad you're finding success with it.

Db
Click to expand...

This comment confuses me just a bit as I thought using the hourly that I would be taking my cues from the Weekly trend channel alone (waiting for the extremes). I'm not quite sure what cues I'm supposed to be taking from the daily.
 
YoungBuller said:
This comment confuses me just a bit as I thought using the hourly that I would be taking my cues from the Weekly trend channel alone (waiting for the extremes). I'm not quite sure what cues I'm supposed to be taking from the daily.
Click to expand...

All of this is covered thoroughly in the book, but even the basics addressed in the pdf posted to the other thread make it clear that trades are taken weekly>daily>hourly.

Db
 
I had this blue DL drawn for a few days and looks like it would have been a great place to enter a short. Since I'm at work during market hours, I didn't enter this order. Would this have been something you all would have placed a limit order at if you are not able to watch the market?

Also the red DL is my daily long term TC and price bounced off of it nicely 2 times.

Another question, It looks like price hits the TL's on a daily chart but when I switch to an hourly chart price is sometimes close to 6 or so points away? Is that an error in my charting program or just the magnification of the chart to a shorter interval?
 

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dbphoenix said:
Price has two states available to it: trending and ranging.

What is price doing on the weekly? Trending or ranging?
Click to expand...

Price is trending on the weekly. On the daily, the last up swing did, barely, make a higher high. but we have since broken that TL so we are ranging. On the hourly price is in a down trend.
 
So if the weekly is trending and the daily is ranging, where do you look for your trading opportunities?
 
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