me myself and mouteki
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Thread: me myself and mouteki

  1. #1
    Since I'm a firm believer of trading off price action, I have been studying the mouteki technique a lot. However, I've got a question but I do not feel like searching through the huge thread for my answer (my eyesight will start to daze).


    My question would be, would the support/resistance be legitimate if the candles beside it have same low/high respectively? Or do I want to find a place where the candles beside it don't transcend its low/high?!? I trust you understand my question.

    Thanks

  2. #2
    Quote Originally Posted by ;
    since I am a firm believer of trading off price action, I have been analyzing the mouteki technique a lot. But, I have a question but I do not feel like searching through the massive thread for my response (my vision will start to daze).
    My question is, would the support/resistance be legitimate if the candles beside it have same low/high respectively? Or do I want to discover a place where the candles beside it do not transcend its low/high?!? I trust you understand my question.
    Thanks
    Hi Hilmy
    Yes you decide on the closest bar to current price action, but I have my own selection method on this. I really don't think it's in some of those Mouteki stuff, just my own preference.
    Say you've got two bars in resistance (Provide line) along with the 2 bars to the right of this pair are reduced, that is OK. But I also prefer to visit two bars to the left of this pair be lower as well. See image

  3. #3
    Ok I get it now, basically take the two candles with same low or high and treat as one. And seem 2 candles into the left and right of it

    thanks!

  4. #4
    another question? Have some of you men tested mouteki on a daily chart? I started yesterday and have opened a few places, but can not recall which ones.

    I think if the concept is reasonable and higher time period has less sound, it should work right??!?!

  5. #5
    Funny that you posted a Mouteki egy related query in the general forum, and not the Mouteki niche one.

  6. #6
    I think Mouteki answered this question.
    He states you should use the most recent candle to draw the lines.
    Regards

  7. #7
    Quote Originally Posted by ;
    a different question? Have any of you guys tested mouteki on a daily chart? I started yesterday and have started a few places, but can't remember which ones.

    I think if the idea is reasonable and that higher time frame has less sound, it should work correctly??!?!
    Trading from greater time-frame charts should always be your aim. What's difficult to say is whether any particular system works .
    Most systems/methods are designed to benefit from the peculiarities of the timescale that the designer put it up on.
    Having said that, a trendline break-out should have the same advantages and disavantages when going the scale up to dailies, for instance.
    You would have to accept that there will be fewer trades (A Good Thing) along with your stops will have to be larger, so micro lots is your best way to go at the beginning.
    There is some real good advice here, if you are looking to move to dailies and will provide you solid patterns to look out for when deciding to put a trade.

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