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newscalper
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Postby newscalper » Fri Oct 12, 2012 3:37 pm

Your logic is the same as mine, therefore would you be looking for an initial entry where I said or do you go for a break and then another pullback on this TF? Because if you do, you've just missed the move?

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Postby bettlebox » Fri Oct 12, 2012 3:59 pm

yep i missed it cause posting, there will be plenty of more trades :D. This is exactly what i would done, i would dialed down to 5mins to see whats happening in the breakout and look for clues if its going to hold or not.

15min


5min


BB

newscalper wrote:Your logic is the same as mine, therefore would you be looking for an initial entry where I said or do you go for a break and then another pullback on this TF? Because if you do, you've just missed the move?
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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newscalper
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Postby newscalper » Fri Oct 12, 2012 5:33 pm

OK but what about the previous breakout which is where my arrow was at that you're choosing to ignore?

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bettlebox
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Postby bettlebox » Fri Oct 12, 2012 7:10 pm

Its same story as i show in previous picture. Breakout-retest- movement away and then smaller retest. Then it is decision.

This how i understand it.

Newscalper you know it hard enough trying to learn via forums. Clear pictures help.







Add this one as after thought incase you asking about this one but all 3 are the same thing.


newscalper wrote:Really sorry I've not been around live yet - major house renovation going on atm :(
Anyway. Have I got this anywhere near right?
Image
My view from H4 is I'm looking for a short from this area, price is above your 12EMA and in a zone of previous supply, target is to zero out the zone below.
One question I have about the 12 above below rule you have personally - is that just on your entry chart on on your higher TF analysis chart too - if it's on both you will not participate in the major trends when they occur and will only be looking to scalp tops and bottoms?
Drop down to m15
Image
Now this is where things always get hella confusing for me. Why, well on H4 there's a zone for a possible short but as price has also broken out of the other high there's also the trade for the pullback to the 100% for the long. Atm on the m15 I see the 3 red down candles which overcame (just) the upward engulfing bar, close over close under, 50% retrace and enter where I've put that little arrow. Bars have closed against since so would probably have gotten out again.
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newscalper
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Postby newscalper » Fri Oct 12, 2012 7:51 pm

:lol: That's right - TROs indi hid it. I do'nt know if you can resize those things or not in MT4.

Right right, so you drop down to the 5 minute to manage it, at least initially, I imagine you're not going to take profits based on the 5 minute chart? That's cool. OK, so in the main then my analysis was in the right ball park.

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Postby bettlebox » Fri Oct 12, 2012 9:02 pm

Well dont need to drop down to 5min on every trade. Its seem kind obvious to me to do it on this one. Had 1 hr combine 50% level right underneath, so thinking price may just break and run. I will drop a timeframe see if can see something.

I guess its like gears of car. When do you know to use 1st,2nd 3rd etc gears?
BB

newscalper wrote::lol: That's right - TROs indi hid it. I do'nt know if you can resize those things or not in MT4.

Right right, so you drop down to the 5 minute to manage it, at least initially, I imagine you're not going to take profits based on the 5 minute chart? That's cool. OK, so in the main then my analysis was in the right ball park.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

marex
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Postby marex » Fri Oct 12, 2012 11:32 pm

JMHO,

As I try to understand this method of trading, I believe there is one significant component which remains consistent. 'Momo'. What constitutes as momo is more complex and cannot be defined simply; as it encompasses and it attributes its existence to a combination of technical factors.

If you can determine what momo is, and why it exists, you will see price action flow nicely within the 'horizontal line' parameters you designate your charts.

Lines are not arbitrarily drawn; If drawn incorrectly the results are disastrous.

You must determine, why you draw lines, and why at a price, or a range of prices.

The analogous 1st, 2nd, 3rd gear is relevant when you can determine what and where momo is. Yes, you need to toggle to find momo...

marex
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Postby marex » Fri Oct 12, 2012 11:34 pm

JMHO,

As I try to understand this method of trading, I believe there is one significant component which remains consistent. 'Momo'. What constitutes as momo is more complex and cannot be defined simply; as it encompasses and it attributes its existence to a combination of technical factors.

If you can determine what momo is, and why it exists, you will see price action flow nicely within the 'horizontal line' parameters you designate your charts.

Lines are not arbitrarily drawn; If drawn incorrectly the results are disastrous.

You must determine, why you draw lines, and why at a price, or a range of prices.

The analogous 1st, 2nd, 3rd gear is relevant when you can determine what and where momo is. Yes, you need to toggle to find momo...

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Postby bettlebox » Fri Oct 12, 2012 11:57 pm

MoMos are functions of supply and demand.

The MightyOne wraps it all up in most simplest way, in this post.

http://kreslik.com/forums/viewtopic.php?p=64888#64888

Marax I would be interested to hear why you think it can't be defined simply ?

Plus why do you think my lines are drawn randomly?

Plus what make you think im looking for momentum on breakout play. Im just looking for evidence of direction price failing or accepting a price area.
To determine if breakout will hold or fail.

BB
marex wrote:JMHO,

As I try to understand this method of trading, I believe there is one significant component which remains consistent. 'Momo'. What constitutes as momo is more complex and cannot be defined simply; as it encompasses and it attributes its existence to a combination of technical factors.

If you can determine what momo is, and why it exists, you will see price action flow nicely within the 'horizontal line' parameters you designate your charts.

Lines are not arbitrarily drawn; If drawn incorrectly the results are disastrous.

You must determine, why you draw lines, and why at a price, or a range of prices.

The analogous 1st, 2nd, 3rd gear is relevant when you can determine what and where momo is. Yes, you need to toggle to find momo...
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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dojirock
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Postby dojirock » Sat Oct 13, 2012 5:04 am

You guys need to determine what time frame is your trend or bias????

What time frame is your momentum.....is it the same???
Why not trade one time frame???

Most important...entry time frame..what is it?????
I know your lines are not drawn randomly... but you are confusing yourself.

I have said it before, Chart representation is a reflection bound by time, specified by our platforms. You need to distinguish at least two specific analysis if you will before you pull the trigger, mixing them wont work.

Are you a red rat???? and at what point if you chose do you want to be a green rat??
If you dont know where your going, how can you get a plan?
"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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