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TheRumpledOne
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Postby TheRumpledOne » Tue Sep 04, 2012 10:55 pm

MightyOne wrote:There is no need to use P&F charts unless that is what you really want to do.

When price touches a 250 level then you can use that as an extreme instead of using a weekly+.
If price moves beyond the 250 then you can look to intercept price with space drawn from a +125.

I think that I am going to stick with candle charts for the foreseeable future:

7 minute, 28 minute, weekly, monthly.

I have been going back and forth on whether or not I should include the 28 minute chart as the monthly is not of great importance.

Image


OK, I'll bite... what is the reason behind using 7 minute charts, MO?
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Postby Braathen » Tue Sep 04, 2012 11:26 pm

Hi TRO :D

This is quoted from the MO's own thread.

"My trade chart is a 7 minute chart simply because there are 1440 minutes in a day and 1440 7M candles in a week; you could say that the 7M chart is the 'minute chart' of the weekly candle (or pseudo daily candle)." MO.

Hope this helps :D
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Postby Karma » Wed Sep 05, 2012 1:10 am

TheRumpledOne wrote:
MightyOne wrote:There is no need to use P&F charts unless that is what you really want to do.

When price touches a 250 level then you can use that as an extreme instead of using a weekly+.
If price moves beyond the 250 then you can look to intercept price with space drawn from a +125.

I think that I am going to stick with candle charts for the foreseeable future:

7 minute, 28 minute, weekly, monthly.

I have been going back and forth on whether or not I should include the 28 minute chart as the monthly is not of great importance.

Image


OK, I'll bite... what is the reason behind using 7 minute charts, MO?


I believe he said something to the effect of there being

1440 minutes in a day

so by using 7 minute candles there are

1440 candles in a week?


Seems completely reasonable to me

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MightyOne
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Postby MightyOne » Wed Sep 05, 2012 5:11 am

What they said... ;)

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Postby MightyOne » Wed Sep 05, 2012 6:42 am

The EU is trying to be funny stopping 3.6 pips from the Crash Zone...
I am thinking 2413 based on the weekly chart.

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Postby Braathen » Wed Sep 05, 2012 6:49 am

Braathen wrote:Price has come back into the leg im playing.
Its just over my 83.33 S/D and ive seen something i like
for a possible long.

Image

I have dragged my space from the 50% of the leg
and a bit into S/D as im hoping this will be the weekly low.
I feel this is a risky trade as im still uncertain of how to place my space.
(playing it at the extreme that i want to pass is alotta pips and more
risk then i can handle).
Other then that im hoping for a weekly expansion long.


quote boxes r cool.

P.S that was long at 1.2526 3/9
Last edited by Braathen on Wed Sep 05, 2012 6:55 am, edited 2 times in total.
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Braathen
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Postby Braathen » Wed Sep 05, 2012 6:51 am

MightyOne wrote:The EU is trying to be funny stopping 3.6 pips from the Crash Zone...
I am thinking 2413 based on the weekly chart.


lol.. well ive have taken my risk.. and ill lose with pride :P
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Postby MightyOne » Wed Sep 05, 2012 7:40 am

Anything can happen =)

The person who cares the least about the outcome usually wins ;)

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Postby Braathen » Wed Sep 05, 2012 8:52 am

Theres your CZ m8 :D

Honestly i didnt even think of going short to CZ 2 :(
Ive been pretty focused in this leg long.
What is your reason on the weekly for expecting this?
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Postby Braathen » Wed Sep 05, 2012 8:56 am

"What is your reason on the weekly for expecting this?"

other then cz 2 being there :P if there even is another reason :smt017
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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