How to be a MOnster

[Mira]

Mira, when you said Bullish Momentum eating up Bearish Momentum, you are 100 percent correct.
Let me ask you this, though... where is that bearish momentum clue you speak of? I have a feeling were looking in different places on the chart.

doji

Hi Doji

Your question scares me a bit because I don't know where I'm wrong now

Btw the yellow line represents the bearish momentum I was looking at, price closed below the previous extreme.

IMG_0224.PNG (56.52 KiB) Viewed 2937 times

Thanks for your help Doji!

[Dan]

Mira, you've been looking at too many charts... You must have missed first candle to close above previous candle extreme.

[Mira]

Mira, you've been looking at too many charts... You must have missed first candle to close above previous candle extreme.

Hi Dan!

I'm looking at only one chart for this analysis, but it looks to me that that candle is not a true breakout.
I'm not saying that I'm right, because I'm probably wrong ( ), and because is right what works..

But I can't see demand overcoming supply in some other way than this for now.

[Mira]

Why shouldn't i take the third trade. It is a clear fail on previous H1!!!

I just can't see what you are seeing, to me it looks like you are selling into strong prev support (third entry) the other entries are clear as day.

The 3 semfor to the left, the hourly hasn't closed lower than that area yet but you still enter short, how do you predict so well that the down trend you are riding will power through this area?

Maybe you will see it on this picture.



First: compare de power of price (ie volume) the biggest candle on the screen is the H4 from the day before. This tells you something!!!
The level that you call "strong support" is just the opening of H4. Indeed a good place to get out BUT!!! First of all the upgoing H4 is NOT momentum but just a part of the range of the downmomentum!!!
Watch D1 this is just the beginning of the move down. When price is able to close over 127.77 then there will be another move down
In this case price zeroed the start of the move on M15 level and bounced up, failed to close above previous H1/50% and that fail was the start of my third entry and closed just above support level 127.77!!!

I'm not trying to talk about old posts again, but this is what I mean, things can't be changed from the past.
That Dragon33's trade is the same of a Doji' style trade to me.

[found in Doji's thread - p. 237]

[MightyOne]

Hi MO!

Last night I was drawing some pattern&breakout and I have seen how they could help finding a real close above/below..
Are you following a particular way to find the range (high-mid-low)? And do you follow the range growth after price moved? Thank you much for your help!

for_Mira.png (96.21 KiB) Viewed 3126 times

[Mira]

Hi MO!

Last night I was drawing some pattern&breakout and I have seen how they could help finding a real close above/below..
Are you following a particular way to find the range (high-mid-low)? And do you follow the range growth after price moved? Thank you much for your help!

for_Mira.png

Thanks MO!

What that green arrow stands for?
Thanks again.

[MightyOne]

Thanks MO!

What that green arrow stands for?
Thanks again.

It is where I rested the 2nd oval.

[Dan]

Hi Mira, up until a few weeks ago (when Doji started the new momentum box stuff) I thought the same way, in fact Dragon Style trading is tattooed on my brain from the years of following. I was just trying to point out that Doji asked you when you thought the first the bulls had started and you might have overlooked that area that I highlighted, that's all.

Sorry to hijack this thread, just got excited cause its the first thing I understood in here.

[Mira]

Hi Mira, up until a few weeks ago (when Doji started the new momentum box stuff) I thought the same way, in fact Dragon Style trading is tattooed on my brain from the years of following. I was just trying to point out that Doji asked you when you thought the first the bulls had started and you might have overlooked that area that I highlighted, that's all.

Sorry to hijack this thread, just got excited cause its the first thing I understood in here.

Hi Dan!

No need to say sorry, I'm always on this board waiting for new posts to read! Am I addicted?

Btw keep in mind that English is not my language and I always feel like I'm not expressing myself in the right way.
Everybody on this board has more experience than in me in trading and I'm just trying to learn from you all.

I see the momentum you are talking about and I gave my opinion just because, if I'm wrong, I need to know it.
I love how mistakes are teaching me things!

[Mira]

I had no trades this week because i wanted to focus on confirmations and stop&reverse ideas.

Last week i made +35% (demo) in three days with a starting risk of 1%, then i had a loss and i stopped trading for a while.
The problem is that i was wasting my space I was placing a limit at 50% of Momo letting ALL my space at risk.

Fortunately i remembered the WD idea and now i have a better plan for my bad exits!
In NLA MO talked a lot about LIS (line in the sand), and finally i got it!
My position (max risk) is still based on major momentum but a CLOSE over a minor (smaller tf) momentum is my signal to get out.
The result is that i'm risking very little of my space and 1/2 of times i can end up at B/E if i wait for a pullback.

I'm in this trade right now:

- 00 is my position
- i went long when price reached the 50% line and left with a H1 momo

BETTER RISK 1.png (14.01 KiB) Viewed 3030 times

Now the trade is not working so good, but i'm not letting price touching my sl, because if it closes below LIS i'm out with a risk smaller than 1 lines over 3 (H4)

BETTER RISK 2.png (14.84 KiB) Viewed 3030 times

Still working hard, thanks MO and everybody on the board!