An account of my S&R's

This thread is not meant to be a trading thread, as per se. This is designed to give a background, to show the validity behind my S&R's, and to show the tradability of them, and maybe even imply a methodology of their usage. As always, and I'll mention it again, the levels for any pair you have an interest in is always available upon request. My yearlies are also available for 28 forex markets and 3 additional markets. Most of the year is finished, so they can be backtested.

Before I proceed further with the thread, I need a couple of things. First, I need to learn how to download my charts. For whatever the reason, the program is not allowing me to do that.

Secondly, this forum is not for trading and forecasting. My other thread is used for that, so it is a way for me to record what I see, in order to know what my next moves in the markets are. Also, in knowing many read the posts, there is a forced discipline. After all, I don't want to get laughed off the forum for stupid forecasting. This thread will have none of those variables working for it. If someone else gets some good from this thread, then I hope to be a service. The way I know someone is benefiting is through participation. If I am the only one posting, then it means I am talking to myself, and I will not continue. Please, I will not take offense if no one is interested in this thread.
Any type of response is fair game to me. Questions, comments, and disagreements are fine.

Okay, let me get past step one, then I will begin.

One more thing. Some suggested I open a thread on the ichimoku cloud. I will do that, eventually, but I wanted to embark first on my pride and joy, which is my proprietary S&R's.

4xpipcounter wrote:This thread is not meant to be a trading thread, as per se. This is designed to give a background, to show the validity behind my S&R's, and to show the tradability of them, and maybe even imply a methodology of their usage. As always, and I'll mention it again, the levels for any pair you have an interest in is always available upon request. My yearlies are also available for 28 forex markets and 3 additional markets. Most of the year is finished, so they can be backtested.

Before I proceed further with the thread, I need a couple of things. First, I need to learn how to download my charts. For whatever the reason, the program is not allowing me to do that.

Secondly, this forum is not for trading and forecasting. My other thread is used for that, so it is a way for me to record what I see, in order to know what my next moves in the markets are. Also, in knowing many read the posts, there is a forced discipline. After all, I don't want to get laughed off the forum for stupid forecasting. This thread will have none of those variables working for it. If someone else gets some good from this thread, then I hope to be a service. The way I know someone is benefiting is through participation. If I am the only one posting, then it means I am talking to myself, and I will not continue. Please, I will not take offense if no one is interested in this thread.
Any type of response is fair game to me. Questions, comments, and disagreements are fine.

Okay, let me get past step one, then I will begin.

One more thing. Some suggested I open a thread on the ichimoku cloud. I will do that, eventually, but I wanted to embark first on my pride and joy, which is my proprietary S&R's.

It sounds good, I wonder if we need a new thread dedicated to education

I got this image to upload, but I did use a jpg file.
The lesson has not even begun, as I'm still working at getting the bugs out at my end. This is still a good, live example of what to expect. Notice how the EUR/USD made took out the WS1 at 1.3551 with no bounce or correction. This is what I call a continuation. This is one of the easiest road maps there are. Expect the WS1 to now be containment. The next stop DOWN for the pair will be the WS2 at 1.3409. After that is hit, there will be a reversal that will head back to the WS1. An exception to the WS2 being absolute containment on the drive south is any spike through that level. What should be expected is an hourly close above the line.
The best thing I can suggest is draw both the lines on your demo account, sit back, and watch the action.



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This chart of the USD/JPY takes on a bit of a different look. Notice when the WR1 first got hit. It bounced and made the proper correction. It moved back to the 50% Fibo mark of the WP--WR1. When a proper correction is made, there are no guarantees that the next level will be hit.
After it hit the 50% mark, price took off north again, but just barely cleared the WR1, then moved back under to the 23.6% mark of the WR1--WP. From that point it moved to the 76.4% mark of the WR1--WR2, and has been going south since. The 76.4% and the 23.6% mark are compliments of each other as the add up to 100%. This means the pair still made its complete one-way move within the week's cycle.

BTW, this is only the beginning. I have not even begun to get in to the meat and potatoes. The first thing I will be doing is covering in detail the weeklies, and then we will go to the monthlies and the yearlies, respectively. Afterward, and maybe even along the way, I will show how to use all the TF's as a confluence, and show the interactions between all of them.
I do take a great deal of pride in my S&R's, because they are so accurate in how they work. They also took quite awhile to completely contrive them. This is the 3rd time I have done something like this. What has happened in the past is that I get all kinds of requests for the levels on certain pairs and markets. So, I am saying, in advance, so not hestiate to let me know of a market you are interested in, and I will post right here in this thread.
Also, Hari, you're gold will always be posted in my other thread.

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