How to be a MOnster

[forexjpn]

No, I'm assuming in the trade you posted, you entered based on price closing over and under the bottom red line. Your signal candle reached the small white candle 4 candles earlier - which is a (minor) Z-line and very often results in a rebound back into the original direction.

Ahhhh ok, sorry!
Now I'm following

Thanks!

Is it because there is a sort of chronological order?

No, no chronological order....
Here's another example of what I mean.....

[prochargedmopar]

No, I'm assuming in the trade you posted, you entered based on price closing over and under the bottom red line. Your signal candle reached the small white candle 4 candles earlier - which is a (minor) Z-line and very often results in a rebound back into the original direction.

Ahhhh ok, sorry!
Now I'm following

Thanks!

Is it because there is a sort of chronological order?

No, no chronological order....
Here's another example of what I mean.....

Rally base Rally
Or
CP

[Mira]

No, I'm assuming in the trade you posted, you entered based on price closing over and under the bottom red line. Your signal candle reached the small white candle 4 candles earlier - which is a (minor) Z-line and very often results in a rebound back into the original direction.

Ahhhh ok, sorry!
Now I'm following

Thanks!

Is it because there is a sort of chronological order?

No, no chronological order....
Here's another example of what I mean.....

Aren't these the same? Or am i not seeing it ?

Thank you

[forexjpn]

They are the same with regards to BOBI, but in the first one, after the signal candle there is no room to move, whereas in the second one there is still some space or 'profit to take'.

I remember when I re-read NLA, Dragon or ES mentioned something very similar to this and it confirmed my thoughts.....I'll look for it and post if I find it.

PS: sorry for my crude chart markings, I don't have a PC anymore, so I'm doing my best to markup the charts with only mobile MT4

[forexjpn]

Here's one last example, this ones on H4.

[forexjpn]

Don't get me wrong, it's not always the case....but being aware of it has helped me a lot in choosing my entries

[Mira]

Don't get me wrong, it's not always the case....but being aware of it has helped me a lot in choosing my entries

Don't worry, your help is appreciated!

I'm absorbing what you are telling me and it makes sense.. even if i see differently.
In a simplistic way: looking at a zone is cool, but looking at both the zones is better

[Mira]

Don't get me wrong, it's not always the case....but being aware of it has helped me a lot in choosing my entries

Don't worry, your help is appreciated!

I'm absorbing what you are telling me and it makes sense.. even if i see differently.
In a simplistic way: looking at a zone is cool, but looking at both the zones is better

This is why we want to see a close OVER something before taking a trade, if price still hasn't closed below * then it's not going down yet. Is it right?



*since i put my SL at an extreme i want to see price to close over an extreme.

[forexjpn]

Regarding closing over, your BOBI is fine, but it's better if your signal candle still has ample room to move before hitting the Zline......you don't want your signal candle closing into congestion..... your other option would be for the signal candle to blast right through the congestion.... in which case I would wait for price to return to the congestion for entry.
Hope that makes sense.

[Mira]

Regarding closing over, your BOBI is fine, but it's better if your signal candle still has ample room to move before hitting the Zline......you don't want your signal candle closing into congestion..... your other option would be for the signal candle to blast right through the congestion.... in which case I would wait for price to return to the congestion for entry.
Hope that makes sense.

Yep, it does!

Thank you much Forexjpn, it just opened my mind
Everyday things go more clear and the help that you guys are giving is priceless.

Thanks