How to be a MOnster

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1qaz2wsx33
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Re: How to be a MOnster

Postby 1qaz2wsx33 » Thu Oct 17, 2019 7:47 am

Mira, MO has said MOMO is not simply a bar 2x the previous bar, but a bar that is comparable to previous momo. I do not see any bear MOMO there IMO
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Mira
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Re: How to be a MOnster

Postby Mira » Thu Oct 17, 2019 7:55 am

1qaz2wsx33 wrote:Mira, MO has said MOMO is not simply a bar 2x the previous bar, but a bar that is comparable to previous momo. I do not see any bear MOMO there IMOInked4118A794-4D88-4803-8345-4B0061C407D2_LI.png


Yes, you’re right.
I was looking at the close above-below pointed by the arrow and assuming that it was a change in momentum.

The discretionary part kills me every time.
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Mira
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Re: How to be a MOnster

Postby Mira » Thu Oct 17, 2019 3:52 pm

Took a small winner, I’m gonna post the chart this evening.

Meanwhile I was reviewing some trade from yesterday.. I think that my problem is that I’m confusing zlines with momentum.
I mean I take a zline as it always comes with MOMO, while they’re different things.

However I’m still not getting this one:

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Two different fibos, two different views..
In the second chart btw I saw it as a break below the fibo 50% AND a break below the 50% of the opposite bullish momentum.. trying to target a level around the 23.6/big bullish momo 50%.

I see that my bearish candle wasn’t that big.. however it was big as the bullish one that broke out.. this is what I don’t understand :?

I should avoid trades at rollover time btw #-o
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Mira
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Re: How to be a MOnster

Postby Mira » Thu Oct 17, 2019 10:01 pm

therumpledone/how-to-be-a-monster-t16383/page140#p102970

"a close i feel that it closed above something"

wtf? Why do i know it only now??? #-o #-o #-o

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Last edited by Mira on Fri Oct 18, 2019 6:37 am, edited 1 time in total.
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Re: How to be a MOnster

Postby Mira » Thu Oct 17, 2019 10:15 pm

My small win from today :oops: LOL
i'm kidding, i'm happy with this. I feel that i had a decent analysis this time.

I traded south from the upper bearish zline on H1 to the bullish one on M15 (just a bit below H1 bullish zline)
I waited to be below the 50% of bullish opposite momos on both the time frames. Unfortunately i closed all at the first target, the second one was at the Fibo's 50%.. fck it lol


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Re: How to be a MOnster

Postby Mira » Wed Oct 30, 2019 5:09 pm

Damn.. momentum and trading etc. is *censored - swear word* driving me crazy
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Re: How to be a MOnster

Postby Mira » Wed Oct 30, 2019 5:20 pm

First thing i should define momo.. i tried to define momos as bars that broke over the 50% of the opposite momo (??? it has no sense as a definition)

One thing that i don't understand, for example, is the MOMO made by more than one bar. Why three bars are considered as a single MOMO? Are two or four bars considered as a single momo too?

MOMO.png
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then the zlines part.. here i placed my lines at MOMO's origin or base.
However when price comes back to those lines sometimes it does it with opposite momo too.. and it could even break over the 50%, so do we have to change our bias? And if the bar wicks the zlines but wth opposite momo is a good to go on a lower time frame or do we have to wait for a "wickdoll" (a doji/hammer etc)?

zline.png
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Guys.. as you see my confusion is still alive. Sometimes i think that i'll never make it.
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Re: How to be a MOnster

Postby Mira » Wed Oct 30, 2019 11:04 pm

However.. never give up.
At least i know that i'm pointing in the right direction and that is momentum.
Then i'm adding a H1 time frame confirmation since i'm using a H4 bias chart and a M15 for the trigger and the gap of info is too much for my brain.
Finally i'm seeing some facilitation in trading with candle color so i'm keeping an eye on it.


I traded short from the top white arrow and closed half of my trade at the bottom, i left open the second half (mistake) and it took my SL.
On Monday i saw the weekly bullish zline, i don't know why i decided for shorts here, the opposite trade would have been a pipper :mrgreen:


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Re: How to be a MOnster

Postby Mira » Wed Oct 30, 2019 11:32 pm

Another that i was watching is USDCAD.
Drew the Daily zline (dashed) and noticed that price slowed down around the line without closing lower.. then i've been busy with EU and others and i just watched a perfect momo + wickdoll forming on H4.
Confirmation on H1 and M15 + right color (green) for H1 and H4. Straight to the Cash Zone, boom 100 pips.


The next time.. maybe :lol:

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USDCADH4.png
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Re: How to be a MOnster

Postby Mira » Thu Oct 31, 2019 10:18 am

Missed this one because I’m at job and I don’t trade from my phone anymore :lol:
Price wicks a D1/H4 zline and closes, then closes below momo H1 50% and wicks. On M15 there is one of those setups that LeM was talking about: break of the opposite level (demand) and retest :mrgreen:

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