This framework I have started and built upon. The colors are to be looked at as groups, red, blue, green.
Blue lines are just micro levels that are paid attention to, and grey lines are attention points where a significant time was spent. Red levels are significant. Crossing lines can point to future hidden support and resistance, and of all the lines on the chart, only a few are ever relevant at once. Mostly it depends on the context (how we got here and what are we doing right now, plus what maybe could be going on from recent past). It points out divergence, hidden levels, important levels, and any holes represent a possible location to look for a pattern (like the triple tap).
This is starting to look like a lot of people doing a style of trading known as "grid trading"
They're using levels of 40-60-100, and it shows. The spacing is too consistent, and matches up with the back test ranges I found to be optimal for this pair.
If we go ranging a bit, the next set of red downward likes may be back in play, or may come into play later if we drop. The red line the price is currently near, is the extreme line from the original trend to get here.
Just look at only a few lines around where price is, and it will lead to other possible points of interest. I don't post any trade ideas with this chart, as it would just not make any sense, but it is what I'm referring to when looking at potential ideas and outcomes.
Blue lines are just micro levels that are paid attention to, and grey lines are attention points where a significant time was spent. Red levels are significant. Crossing lines can point to future hidden support and resistance, and of all the lines on the chart, only a few are ever relevant at once. Mostly it depends on the context (how we got here and what are we doing right now, plus what maybe could be going on from recent past). It points out divergence, hidden levels, important levels, and any holes represent a possible location to look for a pattern (like the triple tap).
This is starting to look like a lot of people doing a style of trading known as "grid trading"
They're using levels of 40-60-100, and it shows. The spacing is too consistent, and matches up with the back test ranges I found to be optimal for this pair.
If we go ranging a bit, the next set of red downward likes may be back in play, or may come into play later if we drop. The red line the price is currently near, is the extreme line from the original trend to get here.
Just look at only a few lines around where price is, and it will lead to other possible points of interest. I don't post any trade ideas with this chart, as it would just not make any sense, but it is what I'm referring to when looking at potential ideas and outcomes.
