The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 04, 2017 6:07 pm

Mira wrote:

Code: Select all

I'm reading more about P&F, but it seems that you are doing it differently.. not even talking about Big Road  :lol:

X = a new high made
O = a new low made (if we have no new highs)
You are using a 2-box reversal in a form of a 1-box reversal (after n X we draw one O when we have two O)

Am I following right?

And

"For most chartists, an 'x' is a single price but for me it is the area that is between two prices;"

What do you mean MO?

Thank you much!


I marked that chart using only closing prices.

It can be done one of two ways:
a) mark an x when price closes above a line (each 'x' is one price)
b) mark an x when price closes between two lines (each 'x' is two prices)

I prefer the area method.

If you use the area method with HI/LO then price must fall back 2 lines because each x is two prices and
falling to the lower of the two prices doesn't get you out of the area.

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Re: The ideas that I trade by:

Postby MightyOne » Thu May 04, 2017 6:25 pm

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Mira
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Re: The ideas that I trade by:

Postby Mira » Thu May 04, 2017 6:37 pm

MightyOne wrote:for_Mira.png


Uh ok, got it! Is this price closing over a line (first way)?

Thank you MO
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Re: The ideas that I trade by:

Postby MightyOne » Thu May 04, 2017 6:43 pm

Mira wrote:
MightyOne wrote:for_Mira.png


Uh ok, got it! Is this price closing over a line (first way)?

Thank you MO


Price closing between lines (b)

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Postby MightyOne » Fri May 05, 2017 5:21 am

CloseOnly_Area_PNF.png
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Mira
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Re:

Postby Mira » Fri May 05, 2017 10:46 am

MightyOne wrote:CloseOnly_Area_PNF.png



Cool! The BO is more visible with the Big Road than with the other charts.

But are you considering a specific formation to see patterns breakouts?
(I don't know if I have formulated a comprensible question, sorry)

Thank you MO!
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Re: Re:

Postby MightyOne » Fri May 05, 2017 3:34 pm

Mira wrote:
MightyOne wrote:CloseOnly_Area_PNF.png


Cool! The BO is more visible with the Big Road than with the other charts.

But are you considering a specific formation to see patterns breakouts?
(I don't know if I have formulated a comprehensible question, sorry)

Thank you MO!


I am just looking at column lengths and breakouts.

There are a few nuances but you'll easily pick them up along the way.

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EDIT: I don't want to see price close below the yellow line.

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Re: The ideas that I trade by:

Postby MightyOne » Fri May 05, 2017 4:24 pm

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If price closes in an area then you mark points to that area.

The entries are the same as the HI/LO method.

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Mira
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Re: The ideas that I trade by:

Postby Mira » Fri May 05, 2017 6:21 pm

MightyOne wrote:for_Mira.png

If price closes in an area then you mark points to that area.

The entries are the same as the HI/LO method.



I'm following MO, thank you!

So the Big Road helps us to not get fooled by smaller breakouts.. ?
It creates bigger patterns every time that price closes in an area, and this why a BO is visible only when we have a longer column :idea:
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Re: The ideas that I trade by:

Postby MightyOne » Sat May 06, 2017 6:14 pm

Mira wrote:
I'm following MO, thank you!

So the Big Road helps us to not get fooled by smaller breakouts.. ?
It creates bigger patterns every time that price closes in an area, and this why a BO is visible only when we have a longer column :idea:


It helps me in a number of ways:
1) ease of comparing column lengths
2) neutral rendering of price history
3) it is compact and to the point
4) it can be used to record other outcomes:
Did I make 20 pips today? Blue = YES, Red = NO.
Did price continue 10 more pips after I exited? Blue = YES, Red = NO.
Did price close beyond an extreme after a breakout?
etc.

In a casino you can use it to track Player/Banker, Pass/Don't Pass, etc.

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