Friday, April 21, 2006


I have been asked to post the template I'm using on my charts.
Well the Chartprogram is called Ensign Software (I'm not affiliated with them, I just use it for about 5 years now) and the Template I currently used can be downloaded here. Place it in the \Ensign\Template1 subfolder on your harddisk.
The Lines you see are the Highs and Lows of the previous 120, 240, 300, 480, 600 and 720 minute candles. The thicker the line the longer the timeframe. And the reasoning behind the approach I currently use is, that the more money you move around, the longer the timeframe you trade. Think of moving an oiltanker around. You need space and time to do that. You can't turn on a dime or you create huge, really huge waves in the market. And if you are such a big boy, you watch longer timeframes and respect the Highs and Lows formed there. Nothing else I'm doing now on my short term charts. I look for reversal signals, when the big boys think yes here is Support or Resistance.