- 6792CB99-5448-4CB8-85CB-3023B379678E.png (73.43 KiB) Viewed 2841 times
How to be a MOnster
Moderator: moderators
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
- Mira
- rank: 1000+ posts
- Posts: 1729
- Joined: Thu Nov 10, 2016 8:37 pm
- Reputation: 1608
- Gender:
- Contact:
Re: How to be a MOnster
nat wrote:MightyOne wrote:
the daily is looking for a short
what from the chart tells you its looking short? looking left on higher timeframes?
Hi Nat!
I don’t think it’s based on some trading activity on the left, instead i think that those D1&H4 closes are giving us the direction to follow on M30.
What I’m not getting is the first D1 close, from the picture posted it looks like price made another important close on that TF (the highest one).
Re: How to be a MOnster
Mira wrote:nat wrote:MightyOne wrote:
the daily is looking for a short
what from the chart tells you its looking short? looking left on higher timeframes?
Hi Nat!
I don’t think it’s based on some trading activity on the left, instead i think that those D1&H4 closes are giving us the direction to follow on M30.
What I’m not getting is the first D1 close, from the picture posted it looks like price made another important close on that TF (the highest one).
You are worrying over nothing because whether you go D1 D1 or D1 H4 you arrive at the same answer...
I am not going to mark it D1 D1 when I am trying to explain how one zooms in on a large price level
Price moved into and out of a pattern on D1, then you watched the H4 break through the line and make a significant close, you then further refined your area selection on the M30...each chart is tradable with the correct position sizing.
A pattern is not a breakout and a breakout is not a pattern.
Price moves in and out of patterns
Risk lines and make lines.
- Mira
- rank: 1000+ posts
- Posts: 1729
- Joined: Thu Nov 10, 2016 8:37 pm
- Reputation: 1608
- Gender:
- Contact:
Re: How to be a MOnster
MightyOne wrote:Mira wrote:nat wrote:
what from the chart tells you its looking short? looking left on higher timeframes?
Hi Nat!
I don’t think it’s based on some trading activity on the left, instead i think that those D1&H4 closes are giving us the direction to follow on M30.
What I’m not getting is the first D1 close, from the picture posted it looks like price made another important close on that TF (the highest one).
You are worrying over nothing because whether you go D1 D1 or D1 H4 you arrive at the same answer...
I am not going to mark it D1 D1 when I am trying to explain how one zooms in on a large price levelfor_Mira.png
Price moved into and out of a pattern on D1, then you watched the H4 break through the line and make a significant close, you then further refined your area selection on the M30...each chart is tradable with the correct position sizing.
A pattern is not a breakout and a breakout is not a pattern.
Price moves in and out of patterns
Risk lines and make lines.
Thank you MO!
I think I’m seeing it, and if it’s true then it’s not so different from the formation that I’m looking at since the beginning of this thread.
Somehow, lately, I’m not trading SO bad ( ) but I still need to find that harmony in myself and then to ‘project’ it on the chart.
Re: How to be a MOnster
MightyOne wrote: You are worrying over nothing because whether you go D1 D1 or D1 H4 you arrive at the same answer...
I am not going to mark it D1 D1 when I am trying to explain how one zooms in on a large price levelfor_Mira.png
Price moved into and out of a pattern on D1, then you watched the H4 break through the line and make a significant close, you then further refined your area selection on the M30...each chart is tradable with the correct position sizing.
A pattern is not a breakout and a breakout is not a pattern.
Price moves in and out of patterns
Risk lines and make lines.
Hmmm so is this mainly for reversals or is there a way to do continuation type trades with this?
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
Re: How to be a MOnster
Code: Select all
To the far left you have a wick and around the circle you have sideways PA which is the idea of a close: close close, close wick, wick close, or something similar is what you will see of a larger chart price level.
Price crosses the 40 SMA (aka 'noodle'), plummets, and then it pauses; if you draw a circle underneath the point then price will usually form a level around that area.
The 40 SMA is what guides the angle and placement of the trend line, but there is nothing wrong with drawing an additional line along the 2 SMA if you feel so inclined.
If price were 'trending' down and you thought that price would continue to fall (maybe because of an expected range expansion) then you would look for a continuation when price entered the 'chopsticks'.
dchappy looks to time his trades around the AO cross:
if price is range-bound then you have to take it into account that the cross might simply be part of the movement of the range and not a true cross...just as you would drawn a trend line along the points of the 2 SMA to filter out minor crosses.
Notice that an angled platform appeared before price tagged the prev. price level (random walk my ...)
Anything further than 32 closed bars is given a very low weight (if anything):
if you have nothing to look back to then that is a good sign that you should be checking your larger charts (H3+)
You see EVERYTHING that you have learned when you look at a chart: Rat/Wick/Buy-zone, flip-flips, HOLO, 1-2-3, ...everything.
Your mind will say "hey, let's trade it this way" and then it is your job to check to make sure that you are using the appropriate position sizing, etc.
- Mira
- rank: 1000+ posts
- Posts: 1729
- Joined: Thu Nov 10, 2016 8:37 pm
- Reputation: 1608
- Gender:
- Contact:
Re: How to be a MOnster
MightyOne wrote:for_you(2).pngfor_you.pngCode: Select all
To the far left you have a wick and around the circle you have sideways PA which is the idea of a close: close close, close wick, wick close, or something similar is what you will see of a larger chart price level.
Price crosses the 40 SMA (aka 'noodle'), plummets, and then it pauses; if you draw a circle underneath the point then price will usually form a level around that area.
The 40 SMA is what guides the angle and placement of the trend line, but there is nothing wrong with drawing an additional line along the 2 SMA if you feel so inclined.
If price were 'trending' down and you thought that price would continue to fall (maybe because of an expected range expansion) then you would look for a continuation when price entered the 'chopsticks'.
dchappy looks to time his trades around the AO cross:
if price is range-bound then you have to take it into account that the cross might simply be part of the movement of the range and not a true cross...just as you would drawn a trend line along the points of the 2 SMA to filter out minor crosses.
Notice that an angled platform appeared before price tagged the prev. price level (random walk my ...)
Anything further than 32 closed bars is given a very low weight (if anything):
if you have nothing to look back to then that is a good sign that you should be checking your larger charts (H3+)
You see EVERYTHING that you have learned when you look at a chart: Rat/Wick/Buy-zone, flip-flips, HOLO, 1-2-3, ...everything.
Your mind will say "hey, let's trade it this way" and then it is your job to check to make sure that you are using the appropriate position sizing, etc.
Very beautiful post MO.
Yes, patterns could have two different solutions but sometimes the question is simple as “is price high or low”?
Please MO could you show me the angled platform that you’re talking about on that chart?
Thanks!
__________ THE IS A LIE__________
Re: How to be a MOnster
MightyOne wrote:USDCADH4.png
ahh now i see why that long looked confusing. different candle start times. i didnt think profit taking, so the close of my candle marked 1 was where i wanted another short
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.