40 cent test?, page-21

hi Mr Knife
( or should i call you "falling"?)

funnily enough, i used to always just use highs and lows, pretty religiously, and only recently changed my ways.

two things which impacted my approach were
1 - something that someone (i think it was Hiten?) said a while back on this thread which made me question more deeply the significance of erratic intraday spikes in the price

and

2 - something i read on the charting thread (maybe by 10cent?) about trying to find pitchforks that FIT well, rather than pitchforks that are correct.

basically, what i am finding more and more is that TA has its preordained parameters, but the people that apply it use them differently. so there is some degree of error in its commonality.

an example i have noticed of late is people using resistance "areas" in favour of "lines".

the "grey" areas are increasing, because of the differences in peoples approach. so while, personally, i still try and target specific prices and dates, i am a little more flexible in what markers i use to work them out.

as always, i try and use confluence to justify my final decisions. if a particular fib coincides with a particular resistance line, it makes more sense to me to employ those levels than an alternate set.

so far i have been getting better results than if i stick with any one rigid approach.