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monolisa
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Postby monolisa » Fri Jul 17, 2009 2:43 am

These areas are where the big boys decide to buy or sell. Supply and demand, yin and yang, whatever way you want to say it.

Think of LR as a trend channel - above it "overbought" and below it "oversell". As dchappy has mentioned you can pair it with other oscillators (eg. semafor, cci) to confirm the signal.

HA and range bar are just one way to look at the market. You can certainly use normal chart based on time for your own trading.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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Patch
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Postby Patch » Fri Jul 17, 2009 3:00 am

Airball

No I am not using NJ. I've been trying to find out if any MT4 brokers support the doom. Wrote tech a note, and didn't hear back. Patch
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

dchappy
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Postby dchappy » Fri Jul 17, 2009 8:36 am

Took the sema at the open and was stopped out ..2nd entry is working ..have a good weekend traders .......Chap
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dchappy
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Postby dchappy » Fri Jul 17, 2009 9:32 am

Hi Patriot : Price action is simply watching the movement of Price to find a tradable opportunity . For instance , this chart looks like a drunken sailor ,up , down , back & forth ,could anyone hope to make a dime trading this mess ?
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dchappy
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Postby dchappy » Fri Jul 17, 2009 9:34 am

How about now ? See the opportunities ?
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Postby dchappy » Fri Jul 17, 2009 9:45 am

The price action is trying to tll us something....... :wink:
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Postby dchappy » Fri Jul 17, 2009 9:55 am

Now if we only had a way for price to tell us when those exhaustion areas are completely exhausted . Haekin ashi bars tell us if there is buying or selling pressure ( a change in direction ...or.."new energy " )

Hope this helps .......Chappy
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Postby dchappy » Fri Jul 17, 2009 10:09 am

Now we must trust what price action is telling us and take the trade ..but thats the hard part isn't it ?
Trade well
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monolisa
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Postby monolisa » Fri Jul 17, 2009 11:09 am

My understanding is that range bar take the time element out of the equation, and put all attention on price range. In trading momentum is important and price range gives you some indication of momentum. For example, if price goes up 50 pips on a 5 mins GBPUSD chart that's strong momentum.

However, one need to consider the open/close of a candle, not just the high/low. If you see a range candle with tiny body there's not much momentum there (hint: supply and demand). Heiken Ashi indicator takes care of the relationship between these 4 factors - high/low/open/close (look up Heiken Ashi on Google and see how it is calculated).

So dchappy's method presents momentum in a unique way . Combining it with an oscillator indicator (in dchappy' case linear regression and Woodie CCI, or in MT4 TRO's semafor) which tells you the overbought and oversold areas the chance of winning increases.

Momentum indicates activity and oscillator shows you the "right" way.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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monolisa
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Postby monolisa » Fri Jul 17, 2009 11:37 am

dchappy's method sans WoodiesCCI in MT4. Just made 10 pips gain :)

Image

Lis
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