PowerX Strategy "PowerZ"

[IgazI]

Just as with the left side of the chart, we have two levels of 'IN', a 'Z' level.

The 'OUT' is the wider separation between the closing prices or price moving away from a collection of prices. . .
it's pretty easy to spot, I'm sure you can see it.

Around the time of 15:00 and the price of 38.4 cents is another very clear 'IN'.

Patterns and breakouts, INs and OTs, same thing.

M10 LINES:

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[Don_xyZ]

Relative:
Are you wanting to take a trade/profit every 5 min OR 50min, Maybe 5hrs?

6min ain't for everybody.

I'm mostly just trying to follow along with Don

I would just use something like H4 bars as the large chart and M10 closes for the small chart; the idea here is to not stray too far from H1 when selecting the smaller and larger chart.

The objective is simple, hitch a ride on the large chart using your smaller chart. . .
traditionally, we would use D2 and M30.

where_are_we_240.png

I think you meant to say h3 and m2, OR,
30m and 30sec.
Best yet? m15 and 15sec.......

Yeah it's good for getting screen time. But for trading... seconds tf; the cost would just eat up the pips. I'm shocked. I thought you would've at least watched 1 of 'em John Wick. Or is it just not popular enough there? How 'bout this one then?

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[IgazI]

Yeah it's good for getting screen time. But for trading... seconds tf; the cost would just eat up the pips. I'm shocked. I thought you would've at least watched 1 of 'em John Wick. Or is it just not popular enough there? How 'bout this one then?

Sparta!.jpg

In our defense, we spend most of our time outside

I'll definitely check it out.

[Don_xyZ]

Yeah it's good for getting screen time. But for trading... seconds tf; the cost would just eat up the pips. I'm shocked. I thought you would've at least watched 1 of 'em John Wick. Or is it just not popular enough there? How 'bout this one then?

Sparta!.jpg

In our defense, we spend most of our time outside

I'll definitely check it out.

Well, if you say that then I guess it's better not to coz it's going to take away hours from your outside activities. Outdoor activities are a lot healthier.

[IgazI]

Yeah it's good for getting screen time. But for trading... seconds tf; the cost would just eat up the pips. I'm shocked. I thought you would've at least watched 1 of 'em John Wick. Or is it just not popular enough there? How 'bout this one then?

Sparta!.jpg

In our defense, we spend most of our time outside

I'll definitely check it out.

Well, if you say that then I guess it's better not to coz it's going to take away hours from your outside activities. Outdoor activities are a lot healthier.

You're right, Don

I'll go with a line chart of the 15 minute closing prices and 12 prices forming the HL range. . .
if I see anything interesting I can always crack open a smaller chart.

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[prochargedmopar]

Yeah it's good for getting screen time. But for trading... seconds tf; the cost would just eat up the pips. I'm shocked. I thought you would've at least watched 1 of 'em John Wick. Or is it just not popular enough there? How 'bout this one then?

Sparta!.jpg

In our defense, we spend most of our time outside

I'll definitely check it out.

Well, if you say that then I guess it's better not to coz it's going to take away hours from your outside activities. Outdoor activities are a lot healthier.

Uhhhh, I'm pretty sure it's popular over here too.
I spend MOST of my time in front of these charts.
Haven't watched but a few movies in YEARS!!! Like maybe 3-5 in a Decade. LOL

[prochargedmopar]

I'm mostly just trying to follow along with Don

I would just use something like H4 bars as the large chart and M10 closes for the small chart; the idea here is to not stray too far from H1 when selecting the smaller and larger chart.

The objective is simple, hitch a ride on the large chart using your smaller chart. . .
traditionally, we would use D2 and M30.

where_are_we_240.png

I think you meant to say h3 and m2, OR,
30m and 30sec.
Best yet? m15 and 15sec.......

Yeah it's good for getting screen time. But for trading... seconds tf; the cost would just eat up the pips. I'm shocked. I thought you would've at least watched 1 of 'em John Wick. Or is it just not popular enough there? How 'bout this one then?

Sparta!.jpg

Seconds timeframe is good for training memory. That quote: Repetition is the mother of all learning, BUT it's PERFECT practice that makes perfect.

[IgazI]

Seconds timeframe is good for training memory. That quote: Repetition is the mother of all learning, BUT it's PERFECT practice that makes perfect.

Memory of what? sparks flying at your face? helpful

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[IgazI]

The price ranges need to follow the curves of the column chart and have a similar structure to a standard bar chart (H1, H4, D, W, M): if you can hitch a ride on a good hourly trend then it's not that big of a leap to the daily, weekly, monthly.

If you were trading the hourly HLC then you might take the break of the high price or take a long when price is rising from a correction that resulted in a lower close.

With closing prices you just have 'tradable prices', the closing prices and their closing ranges; price is either above ranges or below ranges, in something or out of something:

within say 3 minutes of the close you:
- decide to do nothing at all
- start moving your stop loss
- place an entry order
- market buy/sell if closes beyond x

You don't want to be a 'reactionary trader', you want to slap that ASK with a rhythm.

The hard way to learn how to trade is buy books, study chart patterns, and listen to rants on YouTube.

The easy way is to:
- speak the basic language of the chart: up, dn, in, ot.
- let your mind search for the answer.
- let the market correct bad behaviors.

You can't study your way out of a bad time, you can only do so much to prepare yourself for the real world. . .
so stop worrying so much, just get in there and accept the uncertainty of the reward.

H1 HLC

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[IgazI]

Let me show you how easy it is to trade a bar chart, no need to make it difficult:

- throw away the open price, it just makes the chart more difficult to read.

- look for an area that could be a narrow sideways channel and for price to exit said channel in the direction that you wish to trade.

- look for what would be a pullback on a line chart, and draw your horizontal line so that you can just barely see a close over.

- now you're looking for a reactionary bar (marked with up/dn arrows) following that close as proof that the correction is over. . .
a "wick in the direction of loss", if you will.

1-2-3, Ross Hook, Mamma Jamma, whatever you want to call it, doesn't matter.

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