The Weekly Crash Zone

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tmanbone
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Postby tmanbone » Fri Mar 19, 2010 6:58 pm

MightyOne wrote:
prochargedmopar wrote:E/U weekly candle "rule of 6's" target 2,

HIT

Image

Nasty!! :twisted:

BTW, see how it's pushing the W1 low....gotta get that thing outa there. It's getting in the way of my target #.........
hehehe


Finally we get a candle with a large body on the weekly...sure took long enough!


It was a seriously long wait for that bad boy.
"The simplicity of the markets is it's greatest disguise"

T

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TheRumpledOne
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Postby TheRumpledOne » Fri Mar 19, 2010 8:06 pm

MightyOne:

Please send me an email.

Thanks
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bredin
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Postby bredin » Fri Mar 19, 2010 8:24 pm

pro,

The lines are drawn with fibs, I will see what I can do but it might not be a simple toggle arrangement.

G.
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Postby bredin » Fri Mar 19, 2010 9:11 pm

I was right about a simple toggle, but still a fix (an elegant one, for once) is done, Weekly Extremes can now be turned on and off.

Pro, there will still be an issue when the weekly candle is just the right size to draw the zones on top of each other. Mabee I toggle long/short zones later.

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tmanbone
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Postby tmanbone » Fri Mar 19, 2010 10:25 pm

http://kreslik.com/forums/viewtopic.php ... c&start=10

@ Pro Trader, Rule of six, third post down.
"The simplicity of the markets is it's greatest disguise"



T

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prochargedmopar
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Postby prochargedmopar » Fri Mar 19, 2010 11:20 pm

tmanbone wrote:
MightyOne wrote:Image


Mo,

Very interesting thread, I'm glad you started it. A couple of questions please sir. In the quoted diagram above are the two intermediate lines of the #1 candle the 66.6% and the 83.3% lines also above those are the two lines the 1.166% and the 1.333% lines. Thank you,


Hmm,
So once you understand the concept of momo/non-momo. Then you can use the 79% and 127% as a "median" line instead of the zones as targets.
Watch PA when nearing those levels.

Along the same lines(pun intended) as what I'm being taught now. "in the videos". LOL
Cool.
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Postby prochargedmopar » Sun Mar 21, 2010 1:51 am

Will someone please draw the targets off this chart step by step?
I want to be able to do it manually, without indy.

So after dragging fibo tool from high to low of middle candle I would place the high line on the close of the last closed candle and move it as price went up until we get high extreme and then target the lows.......???
That is if we are about to make a momo candle down that engulfs the most recent weekly spinning top.

This is Aud/Jpy Weekly chart.

Image
Last edited by prochargedmopar on Sun Mar 21, 2010 2:00 am, edited 1 time in total.
#1BODY in direction of profit #2INCREASE lot size Obsessively
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby tmanbone » Sun Mar 21, 2010 1:57 am

MightyOne wrote:
tmanbone wrote:
MightyOne wrote:Image


Mo,

Very interesting thread, I'm glad you started it. A couple of questions please sir. In the quoted diagram above are the two intermediate lines of the #1 candle the 66.6% and the 83.3% lines also above those are the two lines the 1.166% and the 1.333% lines. Thank you,


I have my fibo set to:

0.001

1.000

0.333

-0.333

0.1667

-0.1667

if that helps...
calculate your fibs to these settings

off of the candle you have marked (fibs off this) calculate the pips from high to low

take the measurement in pips, from the previous calculation, of off the low of the candle you have marked (place here for lower target) and draw a horizontal price line above the top, at this measurement.

pull your fibs calculated per above instructions and pull them from the bottom of the last candle on your chart to the horizontal price line.

the fibs are calculated to give your target 1 and target 2 ranges.

EDIT: Disregard the above instruction, after furter review, I've realized it's incorrect. The calculations should be taken off of the middle sized 3 candles previous to the current candle. That would be 3rd candle back from the right, then apply the calculations to the last candle. I know I just made it more confusing, I confused myself on that one. 8-[
Last edited by tmanbone on Sun Mar 21, 2010 2:30 am, edited 5 times in total.
"The simplicity of the markets is it's greatest disguise"



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es/pip
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Postby es/pip » Sun Mar 21, 2010 2:04 am

lol

never mind

disregard
Bend over and assume the position for another 4 years of hope and change.

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MightyOne
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Postby MightyOne » Sun Mar 21, 2010 2:09 am

Measurement * 0.666 added to the current candles low

Measurement * 0.833 added to the current candles low

Measurement * 1.166 added to the current candles low

Measurement * 1.333 added to the current candles low

vise versa

The space between the "0.'s" is target 1 and the space between "1.'s" is target 2.

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