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"support and resistance" is the same as BPS support and resistance, although its number of dots is shorter --- theres probably a bunch of Barry's indicators out there, but the important part is the "AND" in the title ! Having said that, I also have "Super SR7" s+r overlay on my charts also which I use as an "out there" indicator, which is usually hit after MANY hours on the longer timeframes.
I trade GU mostly, so would of course advise watching them both for a while, as they do react differently to different currencies
As stated before, I use zigzags constantly, in spite of their often misunderstood problems, because combined with s+r, its hard to get closer, and I have taken one chart, "halved" the zigzag values and now have the smaller moves within the large trend move
Float is very interesting as a "are we there yet daddy ?" meter and used with s+r gives one an idea of where the "strength" is going, although I havent watched to see if it lags also.
Trend history is not very impressive, as it lags a lot and provides false signals when the currency is consolidating within a trend.
Ive made HALF value zigzags that show the shorter trends within the overall longer trend,
HISTO has me undecided at the moment -- sometimes it seems very good, and sometimes its really confusing, what with showing yellow, then continuing trend. Its understandable, what with some of the dives the price can take on an H1 or H4 timeframe, that it gets put off, but if i were to get used to using it, im afraid i would kick myself out of a few trades i didnt want to be out of ! Perhaps because i trade GU, which is often prone to running in 3 directions at once, this is a problem -- perhaps i should look at EURUSD which i have played often, but not constantly !
but more specifically, while zigzags are definitely not new to me, and I understand "most" of their illusions and repaints, finding people who use them without cursing them is interesting ---- I also get the idea that you are probably over 22 and out of college, which is not always usual with other threads !
btw, if you want a REALLY smooth chart, take a look at a weekly or a monthly --- who says you cant invest with Forex ?
NOW, having had a good time here, allow me to present you with a small token of my appreciation ------ demo first until you are secure, but I place a one lot hedge on GU at exactly 8PM, EST for 10 pips each direction WITHOUT A STOP LOSS !
Sniff at it if you wish, but its earning $1000 per week, using ONE lot per side per day and let me see now, in a year, how much is that and how much beer can you buy ?
enjoy and trade well
mp
__________________
Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !
As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !!
Last edited by mp6140; 01-17-2008 at 11:13 PM.
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