ZL, D+ extremes, TL breaks, cones

[thepark]

End of the week and a summary of what I am looking for when trading. Again, I am not an expert by any means but hoping to explicitly state out what I am looking for so others can critique and can also learn from what I've done wrong or right.

1. Mark important held profit areas on the monthly, weekly, and daily charts. Ideally we break out of a pattern and hit these areas or the crash zone
2. After marking lines on the DWM, I am waiting for a d2 candle to close. This will give me a d2 extreme to trade from.
3. We hitting one of the DWM lines and we have a d2 extreme to trade from, I am looking for a 1-2-3. I am basically looking for a trend line break on the H4, a close in the direction of profit away from that DWM line.

Those are the key things I am looking for where its basically " game on" and I am looking to trade away from a 35 pip box from the d2 extreme in the direction of profit of the H4 candle.

Sad to say I have lost money this week. Just can't seem to put a trade together and pull the trigger. On the m30 I am thinking within space, macd cross. I am trying to simplify things as much as possible. If you could offer me one piece of advice, very much appreciated.

The DWM lines i've tried to draw them how es/pip and v8power would draw them







when the D2 candle on Dec 10 closed in theory you have a d2 extreme long from

[IgazI]

I would use a 30 and 50R range bar line chart (3 and 5 points) for a clean view of the price action.

I would mark where I want to rest a stop before looking for an entry that makes the stop a reality.

I would add size and move that stop down to keep the risk the same.

I can't tell you what you would or should do.

fork.png (130.64 KiB) Viewed 4404 times

[cheunt3]

I am not going to post any of my charts since it may confuse you on your journey, as I scalp from 15 degree cone edge to cone edge on h4/h1. Jala looks like he got it sussed in the MO way so maybe he'll post more.

"Sad to say I have lost money this week. Just can't seem to put a trade together and pull the trigger. On the m30 I am thinking within space, macd cross. I am trying to simplify things as much as possible. If you could offer me one piece of advice, very much appreciated."

I get what you are saying here and I struggled for long long time on entry. Something that has help me is what MO has always repeated over and over again, Body in Direction of profit, Wicks the Direction of Loss. I always thought this was on the higher time frames but the idea is universal down to the 5 min even 1min. Even ESPIP swears by BDP WDL and he is a serial scalper.

I am not sure how you are trading if with space or a RR type of trading but for entry just go through your charts where you think you would have entered and pay attention to the BDP WDL on the 30 min at a level you have marked up.

From what I can see from your charts you are very mechanical but if you look below and higher than 30 min you probably see more BDP WDL to make a clear idea what's happening. You asked for simplified, it's as simple as that.

[thepark]

I would use a 30 and 50R range bar line chart (3 and 5 points) for a clean view of the price action.

I would mark where I want to rest a stop before looking for an entry that makes the stop a reality.

I would add size and move that stop down to keep the risk the same.

I can't tell you what you would or should do.

fork.png

thanks, how do you set up range bar line charts on trading view? i thought it was setting a 30R custom range but that just changes it to a range chart. Your chart looks like a 3m chart overlayed with a line chart?

Noted on the other points. Have been resting the stop first before looking for an entry.

[thepark]

I am not going to post any of my charts since it may confuse you on your journey, as I scalp from 15 degree cone edge to cone edge on h4/h1. Jala looks like he got it sussed in the MO way so maybe he'll post more.

"Sad to say I have lost money this week. Just can't seem to put a trade together and pull the trigger. On the m30 I am thinking within space, macd cross. I am trying to simplify things as much as possible. If you could offer me one piece of advice, very much appreciated."

I get what you are saying here and I struggled for long long time on entry. Something that has help me is what MO has always repeated over and over again, Body in Direction of profit, Wicks the Direction of Loss. I always thought this was on the higher time frames but the idea is universal down to the 5 min even 1min. Even ESPIP swears by BDP WDL and he is a serial scalper.

I am not sure how you are trading if with space or a RR type of trading but for entry just go through your charts where you think you would have entered and pay attention to the BDP WDL on the 30 min at a level you have marked up.

From what I can see from your charts you are very mechanical but if you look below and higher than 30 min you probably see more BDP WDL to make a clear idea what's happening. You asked for simplified, it's as simple as that.

thanks for the feedback. you're right about keeping it simple. complicating it isnt going to help me predict the markets cause the market will do what it wants to do.

** does anyone get logged out everytime u try to post? i pretty much need to login twice to post something.

[IgazI]

** does anyone get logged out everytime u try to post? i pretty much need to login twice to post something.

Yes, you have to check the 'remember me' box when you log in if you want to retain your sanity.

I don't have access to 30 and 50R charts on Trading View so I just used a 3 minute chart for the example.

Range bar line charts:
You just apply a 1 SMA of the close to the chart and fade the range bars into the background.

MESH.png (158.39 KiB) Viewed 4043 times

[thepark]

mate, its like a 10 step process to post but i clicked it this time

its pretty cool how the market is following the shape of the 15 degree angles and some of them are breakout lines to the other side after hitting the range extreme. im still getting a feel of "the nature" of these lines.

[Mira]

Every time I tried to stick on 15* lines I ended up with a 100* headache

I don’t get it, where do you place lines? At swings? As a classic pitchfork?
Are they traded as horizontal lines? (Close/don’t close above/below)
Do they really give you more than horizontal lines?

[cheunt3]

Every time I tried to stick on 15* lines I ended up with a 100* headache

I don’t get it, where do you place lines? At swings? As a classic pitchfork?
Are they traded as horizontal lines? (Close/don’t close above/below)
Do they really give you more than horizontal lines?

"Do they really give you more than horizontal lines?"

If you have 15 degree lines on your chart, hold your LCD and turn it until your lines look horizontal. You may be able to see your charts in a whole new light

"where do you place lines? At swings?"

I do.

[Jalarupa]

The more I see, the more I realize it’s all open to interpretation and over time it becomes instinctive and instructive and some what of an art