A fresh start! Doji's Trading Journal

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PebbleTrader
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Postby PebbleTrader » Wed Oct 09, 2013 1:45 pm

I've been moving away from using channels / wedges and even trendlines...I will draw 1 ... maybe 2 trendlines on a chart if they are really obvious and of a larger tf.

The purpose is to see what others are seeing, not so much because I trade them...
Life is just a journey

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dojirock
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Postby dojirock » Wed Oct 09, 2013 4:51 pm

G/U trade.
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"A small loss is just as satisfying as a large gain" -MO
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MightyOne
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Postby MightyOne » Wed Oct 09, 2013 7:25 pm

PebbleTrader wrote:I've been moving away from using channels / wedges and even trendlines...I will draw 1 ... maybe 2 trendlines on a chart if they are really obvious and of a larger tf.

The purpose is to see what others are seeing, not so much because I trade them...


I use a mix of my own interpretations of triangles, channels, & Andrew's Pitchfork.

My definition of a trend line is an angle outside of that used for a channel.

Now if that is the case then you simply reuse your channel angle when price reaches the next level of congestion instead of using a trend line at all.

There is nothing wrong with just using horizontal lines & I do just that most of the time. =)

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RicG
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Postby RicG » Wed Oct 09, 2013 10:11 pm

The angles are not too sharp, simply because this pattern is not based on angles. Angles in this setup are irrelevant. This is a precise harmonic pattern that involves 4 market moves and 3 major Fib zones. The combination of these moves form 5 points that create the pattern. The angles can vary widely on this setup, because they are based on price action and the aforementioned items.

There are many different ways to trade successfully. :-)

Regards,
Ric







MightyOne wrote:
Image


Your angles are too sharp...

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PebbleTrader
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Postby PebbleTrader » Wed Oct 09, 2013 11:19 pm

If trending, I draw the trend line closest to my stop, if there is a channel than I don't draw the opposite trend line channel.

Only if the market is ranging do I draw both the upper and lower lines.

It's the most obvious trend line on the chart, if you were only allowed to draw one.

The line is more a zone with +/- 10 pips from the mid line. ( I don't actually draw all that on the chart though...)
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MightyOne
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Postby MightyOne » Thu Oct 10, 2013 4:15 am

RicG wrote:The angles are not too sharp, simply because this pattern is not based on angles. Angles in this setup are irrelevant. This is a precise harmonic pattern that involves 4 market moves and 3 major Fib zones. The combination of these moves form 5 points that create the pattern. The angles can vary widely on this setup, because they are based on price action and the aforementioned items.

There are many different ways to trade successfully. :-)

Regards,
Ric




MightyOne wrote:
Image


Your angles are too sharp...
:lol:


I noticed that after I marked up and posted a chart but the forums are so dead I thought what the hell I'll just let him respond :lol:

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Jalarupa
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Postby Jalarupa » Fri Oct 11, 2013 3:11 am

MightyOne wrote:
Image


Hmmm... I'm sooo bewildered right now...

https://duckduckgo.com/?q=1-2-3+trading+pattern

Thanks for the fresh pespective as always MO :)
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

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MightyOne
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Postby MightyOne » Fri Oct 11, 2013 6:27 am

I try to keep my larger charts free of any lines.

Small charts mess with your head anyway so you might as well draw on them =)

Reuse angles once obtained from a triangle, channel, or median line.

I wouldn't draw any lines on anything above a 30 minute chart.

Image


Image


& don't be afraid cutting through price to find a triangle (as shown in the 30 minute chart); if the triangle you drew doesn't have all kinds of false breaks then you probably drew it incorrectly. ;)

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Jalarupa
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Postby Jalarupa » Fri Oct 11, 2013 7:47 am

MightyOne wrote:I try to keep my larger charts free of any lines.

Small charts mess with your head anyway so you might as well draw on them =)

Reuse angles once obtained from a triangle, channel, or median line.

I wouldn't draw any lines on anything above a 30 minute chart.

Image


Image


& don't be afraid cutting through price to find a triangle (as shown in the 30 minute chart); if the triangle you drew doesn't have all kinds of false breaks then you probably drew it incorrectly. ;)


Sheeesh and I'm long EURAUD...

Hope I'm not pissing into the wind...

By the way, I'm clueless as to how to do this sh*t I'm just trading off a extreme... but who knows maybe I can learn something by participating... :D

Image
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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Jalarupa
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Postby Jalarupa » Fri Oct 11, 2013 8:48 am

Image

I donno, I think this looks a little more correct...?!?
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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