A fresh start! Doji's Trading Journal

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dojirock
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Postby dojirock » Thu Oct 04, 2012 12:39 am

5 min as a entry time frame.....
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bettlebox
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Postby bettlebox » Thu Oct 04, 2012 1:48 am

Hi Doji

Can you have look this trade i marked up. I have attached picture so need to log in.

Note:- the shaded blue and red areas are my combineded 4hr candles areas.

My question is :- is that 15min momo off the bottom good enough?, the 3 red down 15min candle previous are freaking me out.

Thanks Doji
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eu4hr test.gif
4hr Chart with combined candles
eu4hr test.gif (22.84 KiB) Viewed 456 times
eu15min test.gif
Big view of the 15min with 12ema and 4hr combined shaded areas.
eu15min test.gif (31.5 KiB) Viewed 456 times
eu15minzoom test.gif
Zoom in view of the 15min with 12ema and 4hr combined shaded areas. And 15min momo with entry area.
eu15minzoom test.gif (30.17 KiB) Viewed 456 times
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dojirock
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Postby dojirock » Thu Oct 04, 2012 3:03 am

BB...where your looking, if your comfortable then do it.....its freaking you out, it should you dont have the pattern till 3 bars later..(45min)..so yes..that is risky, your counting on the level to hold...without the pattern.(at least on the 15 min i dont see it).
3 bars later,
Then i would be allover it....up mbar, breaking out..mark the breakout....then the 50 line of the mbar..there is you area...price does come back...and is below the ema...enter long. make sense?
"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

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bettlebox
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Postby bettlebox » Thu Oct 04, 2012 3:36 am

The confirmation trades as you call them are jsut 15min momos away from your level. Retracement back to your area (defined by breakout and 50% level) and a turn there. Check price to EMA for trade.

another example Like this:




dojirock wrote:BB...where your looking, if your comfortable then do it.....its freaking you out, it should you dont have the pattern till 3 bars later..(45min)..so yes..that is risky, your counting on the level to hold...without the pattern.(at least on the 15 min i dont see it).
3 bars later,
Then i would be allover it....up mbar, breaking out..mark the breakout....then the 50 line of the mbar..there is you area...price does come back...and is below the ema...enter long. make sense?
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Postby bettlebox » Thu Oct 04, 2012 4:00 am

I understand god its so simple.

The under lying principle is that "momentum starts on the lowest timeframe ie in our case 15mins.

Step 1. Price approaches an area of interest from a higher timeframe (4hr in our case)

Step 2. We look for some sign of increase in momentum down at 15min. Away from are area on the 4hr.
This could be a momo combined or single candle, price closing lower that something.

step 3. We mark up the breakout line of the momo and 50% level on are 15min momentum candle. This defines an area where if price returns we want to see it rejected from as confirmation that will hold.

Step 4. Wait for the retracement ie test of that area marked up in step 3 and look for price been rejected from that area.

step 5. Make sure the 12 EMA is in right location to price for trade.

This is correct doji?

BB
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Postby dragon33 » Thu Oct 04, 2012 6:05 am

bettlebox wrote:Hay Dragon

Nice to see you thanks for the input.

Is this what you are seeing when you say "price is still making bodies to the upside on the higher frames"

Because the close of the 1hr i took rat trade short, closed in range of the top wick previous 4hr :?: ?? you can say price isnt ready to come down yet :?: ??

Im trying to grasp what you are seeing to make that statement.

Maybe you can give me underlying principle behind your thought processes?

Thanks
BB



dragon33 wrote:
bettlebox wrote:Failed Trade out at Break/Even. Level i thought might be good didn't hold. No big deal on to the next level.



Why going short???

Price is still making bodies upside on the higher frames.


Below is the same chart as you but on H1

Image
Last edited by dragon33 on Thu Oct 04, 2012 6:11 am, edited 2 times in total.
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Postby dojirock » Thu Oct 04, 2012 6:06 am

Bingo!.......
Thats the basics of it...great job!

Now go make some money!
"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

"Once you stack, you'll never go back!"

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Postby bettlebox » Thu Oct 04, 2012 10:35 am

Thanks Doji already in trade with my new knowledge.

I know it was against orderzone , i was fraction late on entry cause just above the ema. But i took it based on what i saw on 15min its was screaming at me go long. It just fell off screen me.

I was watching that 1hr momo down , top 50% area, like hawk for signs of rejection when i enter, but it never happened.

i know 1hr charts, i said i wouldnt play it, but its was screaming at me.
BB
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eu 15min 041012.gif
15min with analysis
eu 15min 041012.gif (35.85 KiB) Viewed 386 times
eu 041012.gif
4hr With orderzones
eu 041012.gif (26.21 KiB) Viewed 388 times
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bettlebox
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Postby bettlebox » Thu Oct 04, 2012 11:04 am

thanks Dragon , i will need bit time to stare this picture and go through it.

I think i can see it price been rejected from lower 50% levels.

BB
dragon33 wrote:
bettlebox wrote:Hay Dragon

Nice to see you thanks for the input.

Is this what you are seeing when you say "price is still making bodies to the upside on the higher frames"

Because the close of the 1hr i took rat trade short, closed in range of the top wick previous 4hr :?: ?? you can say price isnt ready to come down yet :?: ??

Im trying to grasp what you are seeing to make that statement.

Maybe you can give me underlying principle behind your thought processes?

Thanks
BB



dragon33 wrote:
bettlebox wrote:Failed Trade out at Break/Even. Level i thought might be good didn't hold. No big deal on to the next level.



Why going short???

Price is still making bodies upside on the higher frames.


Below is the same chart as you but on H1

Image
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dojirock
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Postby dojirock » Thu Oct 04, 2012 3:54 pm

I LOVE days like today!!!

These were set and forget trades....
I left the lines off so to you can figure out where they should have gone...

G/U 10_4_2012
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"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

"Once you stack, you'll never go back!"

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