A fresh start! Doji's Trading Journal

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MightyOne
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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Thu Nov 05, 2015 3:57 pm

aldomcfaldo wrote:
MightyOne wrote:Just some analysis, no opinions offered :lol:


What does 'H' and 'HH' mean in this picture MO? Is it simply High and Higher High? Thanks


"H" for "hook", when you see two then you have a triangle.

Breakouts help define triangles because breakouts are never part of the triangle.

Price breaks out ("BO"), price breaks in ("BI"), & price moves to zero out profit.

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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Thu Nov 05, 2015 4:08 pm

I know that it looks hard, but if you take it step by step and reuse angles (13-18* or simply 15*)
& you know the basics of using median lines to project the other side of your channels then it
is actually quite easy for anyone to do.

All of these angles are 15*:

GBPUSDproM15.png
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Re: A fresh start! Doji's Trading Journal

Postby newscalper » Thu Nov 05, 2015 6:55 pm

It's worth holding but it's NFP tomorrow

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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Thu Nov 05, 2015 7:25 pm

It's worth holding but it's NFP tomorrow


Looking at some of the past weekly candles I can see that it very well
could go to 1.5100, but I wouldn't bank on it.

Sticking to Crash Zone areas is the best bet, most of the time.

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Re: A fresh start! Doji's Trading Journal

Postby newscalper » Thu Nov 05, 2015 8:54 pm

Yeah, thx Mo.
If closing this week then I wholeheartedly agree. I was now thinking in terms of closing over something on the daily and holding over the weekend. Current bars say hold butNFP may bite me in the butt.

If the account was bigger I'd be using space for sure: before getting this one on I took 2 losses prior. Space would have avoided that but I'm at the smallest size I can go anyway ATM.

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Re: A fresh start! Doji's Trading Journal

Postby newscalper » Fri Nov 06, 2015 6:36 am

MightyOne wrote:I know that it looks hard, but if you take it step by step and reuse angles (13-18* or simply 15*)
& you know the basics of using median lines to project the other side of your channels then it
is actually quite easy for anyone to do.

All of these angles are 15*:

GBPUSDproM15.png

Can the triangle only be drawn after the third elipse has been formed (counting them from the left?

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Re: A fresh start! Doji's Trading Journal

Postby newscalper » Fri Nov 06, 2015 12:35 pm

Took profit
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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Fri Nov 06, 2015 5:26 pm

Well done News...

It did indeed continue short:

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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Fri Nov 06, 2015 5:52 pm

newscalper wrote:Can the triangle only be drawn after the third elipse has been formed (counting them from the left?


You need at least 1 hook and 1 breakout to define a triangle, but they come in many flavors:

many flavors.png
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I only drew the cones in one direction for simplicity.

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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Fri Nov 06, 2015 6:08 pm

See, now it is easy:

GBPUSDproWeekly.png
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