The Weekly Crash Zone

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MightyOne
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Postby MightyOne » Tue Apr 20, 2010 6:05 pm

Pro Trader wrote:
MightyOne wrote:
prochargedmopar wrote:In a predicament now.
Price made it's low for week. Price broke into zone 1(tp 1) and now pulling back.

Long bias still after larger correction?

Image

Daily

Image

Hourly

Image


Targets do not create a bias, they are just there.

PRIORITY LIST:

1. High TF High/Low Extreme + Low TF PA

2. High TF Price Action

3. Targets

RULE OF THUMB:

If price is consecutively closing higher then it cannot be closing below resistance.

Image


Hi MO

I've been looking into the Crash Zone and I was wondering if you could advise me on some of the details.

With your rule of thumb regarding price consecutively closing higher, how do you define consecutively?

Looking at the UJ H4 chart below, I was at my screen by the time shown by the yellow line. Because the previous 5 candles were green, is that what constitutes consecutive in your books? Does there have to be a specifc number of previous same colour candles to qualify as consecutive.

Image

Similar thing on the chart below AUDUSD.

Image

What about the GU H4 chart below. 2 red candles stopped the consecutive flow of green candles but price then went on to reach the 1st Target. Would you only take the trades on UJ and AUDUSD or is there something else I'm missing that would have confirmed trading GU to the 1st Target safely.

Image

Price was within 20 pips of the Daily low on each pair at the times indicated. I'm just trying to work on how I could hold DTB Rat trades for longer.

Thank you for your time.


By combining 2 or 3 candles, starting with momo, you will find larger runs of both green and red candles.

You will forget all about target 1 when we start getting momentum on the weekly charts :shock:


Image

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Postby Pro Trader » Wed Apr 21, 2010 9:51 pm

MightyOne wrote:
Pro Trader wrote:
MightyOne wrote:
prochargedmopar wrote:In a predicament now.
Price made it's low for week. Price broke into zone 1(tp 1) and now pulling back.

Long bias still after larger correction?

Image

Daily

Image

Hourly

Image


Targets do not create a bias, they are just there.

PRIORITY LIST:

1. High TF High/Low Extreme + Low TF PA

2. High TF Price Action

3. Targets

RULE OF THUMB:

If price is consecutively closing higher then it cannot be closing below resistance.

Image


Hi MO

I've been looking into the Crash Zone and I was wondering if you could advise me on some of the details.

With your rule of thumb regarding price consecutively closing higher, how do you define consecutively?

Looking at the UJ H4 chart below, I was at my screen by the time shown by the yellow line. Because the previous 5 candles were green, is that what constitutes consecutive in your books? Does there have to be a specifc number of previous same colour candles to qualify as consecutive.

Image

Similar thing on the chart below AUDUSD.

Image

What about the GU H4 chart below. 2 red candles stopped the consecutive flow of green candles but price then went on to reach the 1st Target. Would you only take the trades on UJ and AUDUSD or is there something else I'm missing that would have confirmed trading GU to the 1st Target safely.

Image

Price was within 20 pips of the Daily low on each pair at the times indicated. I'm just trying to work on how I could hold DTB Rat trades for longer.

Thank you for your time.


By combining 2 or 3 candles, starting with momo, you will find larger runs of both green and red candles.

You will forget all about target 1 when we start getting momentum on the weekly charts :shock:


Image


Thanks MO.

So it doesnt have to be H4 charts, these lower ones are fine?

A momo candle is at least 2x the previous candle right?

Thanks again for your help

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Postby forexbob » Thu Apr 22, 2010 5:56 pm

<offtopic beer mode>

sorry no intention 2 derail this thread again, but could not resist :

PIRAAT BIER

piraat bier
The highest Forex rebates: http://www.cashbackforex.info

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Postby MightyOne » Thu Apr 22, 2010 6:04 pm

forexbob wrote:<offtopic beer mode>

sorry no intention 2 derail this thread again, but could not resist :

PIRAAT BIER

piraat bier


I am pretty sure that that link contains too much skin to post on a forum.

I couldn't care less, but I am saying that your post may be flagged by someone else.

(I saved the link :wink: )

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Postby MightyOne » Thu Apr 29, 2010 4:25 pm

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Postby MightyOne » Thu Apr 29, 2010 4:27 pm

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Postby MightyOne » Thu Apr 29, 2010 4:30 pm

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Postby MightyOne » Thu Apr 29, 2010 4:35 pm

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Postby MightyOne » Thu Apr 29, 2010 4:43 pm

A question you might ask yourself is if you are expecting too much from a currency and the indicator will help you answer that.

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Postby TheRumpledOne » Thu Apr 29, 2010 6:52 pm

Can TRADING really be THAT SIMPLE?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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