Phil wrote:dojirock wrote:Hi Phil,
Look at the hourly...after in a trade I try to trade to a 2 or 3 sema on hourly. I also draw additional bearish Momentum zones and use as a stop loss.
Remember when you get additional zones, price likes to come back so I take profits often and then re- enter for more after it gets back to the zone.
You are right, if you wait for it to cross back over the zone, then your MM is out of wack. Also note, 20 pips is real easy to get on a 15 min or 30 min chart which is my goal and done.
Follow the Momentum
doji
Hi Doji,
When you say "I also draw additional bearish Momentum Zones...'' you mean you draw those on the M15 while in/after a trade and when the H1 momentum has already formed?
Is it also true that once price has set an opposing sema 2/3 you tend to no longer use the previously H1 down momo for bias since we could get a new zone due to the sema on H1.
Follow momentum, on the entry chart i suppose than.
Thanks
yes, like a moving stop.....
please remember im a scalper..so when I get 20 im good to be done.
15 min charts give that up pretty easy
the beauty about the momentum zones is that you can trade without a bias......
if your wrong, reverse and you will get it back!
doji