The Weekly Crash Zone

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MightyOne
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Postby MightyOne » Thu Mar 18, 2010 2:24 am

Brookmyre wrote:Sorry, I should clarify....I've been playing around with this for an hour on the weekly and monthly charts and the regularity that this works is amazing. But as I havent done any kind of serious or structured backtesting so my results were pretty much anecdotal.....it's not that Im too lazy to chuck a fibo tool on a chart


In my experience it does not work well with anything higher or lower than a weekly candle.

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Postby MightyOne » Thu Mar 18, 2010 2:28 am

poltergeist wrote:ok, let's back to topic.

MO,
This is how the scheme set up of weekly crash zone works?

I have doubt if I pick up right range candle.

Image

On chosen candle I put fibo

Image

Image

Image

Image

Is this right?


There are so many lines on that chart that I do not know what is going on.

Use the "visualization tab" to set your indicators to only show on the time frames where they are used.

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Postby prochargedmopar » Thu Mar 18, 2010 5:27 am

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
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Postby aliassmith » Thu Mar 18, 2010 12:35 pm

prochargedmopar wrote:
aliassmith wrote:MightyOne may bitchslap me after I say this....

The Ruler of Six tool looks useful on smaller timeframes also. :lol:

I will keep it by my side for further testing.

On the Chart:
A and B at the 0 and 100 of the tool.

SELL is the 100 point when I move the tool to measure the potential.


Alias, if you place an X at the start, isn't that a Gartly pattern??
Isn't the Sell area a point at which price failed to make it back into a supply "fractal"/trading range.
Isn't the first target the 127% ext and your 2nd target the 162% extension......Draw fibs from swing high (A) to low (B) What's the retrace (looks like 79% deep fib to me).
And a Gartly,
Just a noob on this stuff but you see these patterns all the time....Even on M1.
LOL

Hmmmmmm


I am not sure about the Gartly pattern. I started to watch some of those
videos you sent to me, but I was not interested. I can't believe in a method
that is based primarily off of Fibonacci levels.

I am using mostly techniques that MightyOne has demonstrated at S/R
areas. I like the Ruler of six to set profit targets (still testing).
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Postby MightyOne » Thu Mar 18, 2010 3:38 pm

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

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Postby prochargedmopar » Thu Mar 18, 2010 11:16 pm

aliassmith wrote:
prochargedmopar wrote:
aliassmith wrote:MightyOne may bitchslap me after I say this....

The Ruler of Six tool looks useful on smaller timeframes also. :lol:

I will keep it by my side for further testing.

On the Chart:
A and B at the 0 and 100 of the tool.

SELL is the 100 point when I move the tool to measure the potential.


Alias, if you place an X at the start, isn't that a Gartly pattern??
Isn't the Sell area a point at which price failed to make it back into a supply "fractal"/trading range.
Isn't the first target the 127% ext and your 2nd target the 162% extension......Draw fibs from swing high (A) to low (B) What's the retrace (looks like 79% deep fib to me).
And a Gartly,
Just a noob on this stuff but you see these patterns all the time....Even on M1.
LOL

Hmmmmmm


I am not sure about the Gartly pattern. I started to watch some of those
videos you sent to me, but I was not interested. I can't believe in a method
that is based primarily off of Fibonacci levels.

I am using mostly techniques that MightyOne has demonstrated at S/R
areas. I like the Ruler of six to set profit targets (still testing).


I do NOT see that chris lori's trading strategy is based totally on fibonacci levels.
Looks more like key levels of support and resistance with a mix of fundamentals.
He builds CASH positions in the market through precise scalping methods that "FUND" his positions. You can do that when your moving 10bucks or 100bucks an order. Buck = 1Mil
His targets are thousands of pips from entry.
Maybe you should watch a few more of his vids.
LOL

Thx MO,
I'm doing my damnest to grasp the high TF trading. Getting from 7 pips to say, 27 pips is the hard part.
You said something about traders NOT realizing how important it is when a position does not go Immediately against you. Then, Add profits to stop.

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

Fractal highs/Lows??
You also said if the 3m shares space with the 240m extreme. Do not reverse.

I've got to find ways to fund my positions so I can have "free" trades running in the market.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
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Postby Pro Trader » Fri Mar 19, 2010 6:53 am

bredin wrote:Something like this?

ImageImage

ImageImage

If so, Niiiiice!

G. (with much to think about, AGAIN)

edit: now remember everybody: red candles tend to set the high first, green candles tend to set the low first :)


Bredrin is that an indi you have for the Crash Zone?

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Postby bredin » Fri Mar 19, 2010 8:39 am

Pro Trader wrote:
bredin wrote:Something like this?

ImageImage

ImageImage

If so, Niiiiice!

G. (with much to think about, AGAIN)

edit: now remember everybody: red candles tend to set the high first, green candles tend to set the low first :)


Bredrin is that an indi you have for the Crash Zone?


yes, I will release it as soon as I separate it from my updated s/d indi...

Should be in a few hours or so.

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Postby Pro Trader » Fri Mar 19, 2010 8:50 am

bredin wrote:
Pro Trader wrote:
bredin wrote:Something like this?

ImageImage

ImageImage

If so, Niiiiice!

G. (with much to think about, AGAIN)

edit: now remember everybody: red candles tend to set the high first, green candles tend to set the low first :)


Bredrin is that an indi you have for the Crash Zone?


yes, I will release it as soon as I separate it from my updated s/d indi...

Should be in a few hours or so.

G.


Thanks. I cant wait.

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Postby MightyOne » Fri Mar 19, 2010 10:34 am

prochargedmopar wrote:
aliassmith wrote:
prochargedmopar wrote:
aliassmith wrote:MightyOne may bitchslap me after I say this....

The Ruler of Six tool looks useful on smaller timeframes also. :lol:

I will keep it by my side for further testing.

On the Chart:
A and B at the 0 and 100 of the tool.

SELL is the 100 point when I move the tool to measure the potential.


Alias, if you place an X at the start, isn't that a Gartly pattern??
Isn't the Sell area a point at which price failed to make it back into a supply "fractal"/trading range.
Isn't the first target the 127% ext and your 2nd target the 162% extension......Draw fibs from swing high (A) to low (B) What's the retrace (looks like 79% deep fib to me).
And a Gartly,
Just a noob on this stuff but you see these patterns all the time....Even on M1.
LOL

Hmmmmmm


I am not sure about the Gartly pattern. I started to watch some of those
videos you sent to me, but I was not interested. I can't believe in a method
that is based primarily off of Fibonacci levels.

I am using mostly techniques that MightyOne has demonstrated at S/R
areas. I like the Ruler of six to set profit targets (still testing).


I do NOT see that chris lori's trading strategy is based totally on fibonacci levels.
Looks more like key levels of support and resistance with a mix of fundamentals.
He builds CASH positions in the market through precise scalping methods that "FUND" his positions. You can do that when your moving 10bucks or 100bucks an order. Buck = 1Mil
His targets are thousands of pips from entry.
Maybe you should watch a few more of his vids.
LOL

Thx MO,
I'm doing my damnest to grasp the high TF trading. Getting from 7 pips to say, 27 pips is the hard part.
You said something about traders NOT realizing how important it is when a position does not go Immediately against you. Then, Add profits to stop.

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

Fractal highs/Lows??
You also said if the 3m shares space with the 240m extreme. Do not reverse.

I've got to find ways to fund my positions so I can have "free" trades running in the market.


"You also said if the 3m shares space with the 240m extreme. Do not reverse." -PRO

If I remember correctly that was a reference to the DTB method where by one enters on a 5 pip retrace from the high/low.
The idea is that price should not be making higher highs when looking to reverse.

"Getting from 7 pips to say, 27 pips is the hard part." -PRO

If your trade has more potential than random price fluctuation it is not hard at all.

"Maybe you (aliassmith) should watch a few more of his vids." -PRO

We don't watch videos PRO, we learn to absorb information and solve problems on our own :wink:

"You said something about traders NOT realizing how important it is when a position does not go Immediately against you. Then, Add profits to stop." -PRO

If price were to NEVER move to your stop then how long would you hold for? Suddenly, when you think about taking 7 pips, it just doesn't make any sense and your mind shifts to maximizing profit.
Adding profit to your stop means that you trade very tight with your own money and loose with the markets money until you reverse direction.

"Fractal highs/Lows??" -PRO

I still have not found any use for fractals...

When looking to add something to my analysis I have to make sure that it does not conflict with any of the other ideas.

For example:

"If price is not making higher highs then it must be making lower highs"

conflicts with

"If price is consecutively closing higher then price is not closing below resistance."

&

"There is only 1 highest and 1 lowest price in any given period of time; the most likely direction is the eventual return to new highs or new lows."

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