How to be a MOnster

[MightyOne]

Trade what you see and have seen.

EDIT: that theoretical long trade would be based on what you have seen on an even smaller chart;
I assume that if I were looking at say a 10 second chart that an area of support would form after a sudden drop in price.

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[MightyOne]

It's not a mystery, you see it every day.

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[Mira]

Trade what you see and have seen.

EDIT: that theoretical long trade would be based on what you have seen on an even smaller chart;
I assume that if I were looking at say a 10 second chart that an area of support would form after a sudden drop in price.

EURJPYM1.png

Very beautiful charts MO

Actually ‘what we’ve seen’ gives us a zone and ‘what we see’ is our reason to go long/short away from that zone.. to reach another one.

[MightyOne]

The answer is not as important as how you arrived at the answer.

There are larger chart somethings/closes/whatevers that are similar to the pink areas and then there are adjustments that move your buy/sell orders a shade to either side of an area.

If you consistently apply ideas then you are 'right' and if you inconsistently apply ideas then you are 'wrong'; that is all there is to it.

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[MightyOne]

Code: Select all

Oh, oh, oh
It's magic, you know
Never believe it's not so
It's magic, you know
Never believe, it's not so

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[MightyOne]

I think that this is more than enough examples for one day...
it is one of those things that you either see or you don't.

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[Mira]

I think that this is more than enough examples for one day...
it is one of those things that you either see or you don't.

EURJPYM1.png

Thank you MO!

I think I’m seeing it and your projections are perfect.

Just one question: looking at one unique timeframe, isn’t safer trading away from broken S/R instead of Top/Bottoms (non-broken S/R)?

If it’s all psychological then what are the people thinking when they are reaching the extremes?

[Mira]

Horizontal Action-Reaction

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[Mira]

I traded long that super little MOMO and I took a loss

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[MightyOne]

Smaller charts build size where as larger charts move size.

A larger chart can help add size, when not moving size, as +2 lines on any chart is +25% (10/8) size.

The fibo lines are very important: you know what each line is worth, you see price in a given time period cutting through them, and you get a sense of the level of risk that you are taking: if one bar moves through 16 lines then that is -2 risk boxes so you know that you probably need to trade this at +1 pip for ever 4 (& by 'pip' I am simply referring to a specific amount of money).

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You asked about what people are thinking but the only way that you can know what people are thinking is to know what people are thinking: