PowerX Strategy "PowerZ"

[prochargedmopar]

When looking at a chart like that are you predicting direction and distance? I ask because I find it difficult to see past the immediate going’s on.. and my track record for prediction is terrible.

I guess I could avoid prediction by noticing a bias in the breakouts and trading those… trading the “trend” in bites until the bias is gone.

I do not know what is going to happen next

The larger charts are as simple as:
- is price making new highs? Is price making new highs/lows
- is price reversing from new highs?
- is price making new lows?
- is price reversing from new lows? Is price reversing from new highs/lows
- is price closing above or below ranges?

Price is moving lower and it is not reversing? that's an easy one.

Price moved lower and it is reversing, but price has been closing lower? we're probably not going to get a chance to hold long.

You know, think of all of the scenarios that could play out on the H4/D1 candles and use that as a guide.

When it comes to execution, there are patterns and there are breakouts; one finds patterns, and one trades breakouts:

Start by inching a limit order behind price until you are filled for a half-sized position, and if the market gives your order the bird then place a market order for half and continue to inch your limit order closer to the current price.

If your limit order is filled, and the trade is still looking strong, then go ahead and enter the other half.

Once you are in a trade you need only follow your exit strategy:
- start by managing the trade on the M1
- if you get a nice close over on the H4/D1 then consider managing the trade from those charts:
exit/enter half on the M1, hold half for the larger move.

- use a trendline
- if price moves through the top of the M1 chart, place a stop loss to protect against a reversal.
- if price continues higher then continue to use trendlines.

You are just going down a checklist and consistently applying your ideas:
there is nothing to learn, there is no "skill" required before you can make money.

Simple, but not simpler. LOL
Reduced it to 3 lines for ya.

[IgazI]

A shakeout? or are we going to see $18 silver.

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[IgazI]

Simple, but not simpler. LOL
Reduced it to 3 lines for ya.

Yes, I could have said "watch for a reversal, look for a close".

[prochargedmopar]

A shakeout? or are we going to see $18 silver.

silver.jpg

Those charts get much more faint and you'll have to add brail or pull out the darts.
Can't see squat.

[IgazI]

A shakeout? or are we going to see $18 silver.

silver.jpg

Those charts get much more faint and you'll have to add brail or pull out the darts.
Can't see squat.

Hold ctrl and use your scroll wheel

The chart is not quite that dim, you see for yourself:
the candle color is (204, 204, 247) and the foreground is lavender.

Removing candle color and muting the remaining colors has made the chart more pleasing to look at, and it is easier to mark when printed.

When something is darker, your mind thinks that it is more important; if we remove the psychological effects and you feel the same way about it then it probably is important.

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[IgazI]

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[IgazI]

“If you’re in the market, you make money; if you’re not in the market, you don’t make money. That’s just how it works.”

"There is no reason to buy a falling stock, and there is no reason to sell a rising stock."

"If you're not the main character of your story then you will never be the hero"

Gold:

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[IgazI]

I think we break $1700.

GOLD:

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[IgazI]

"don't give up on crypto" they said. . .
I saw the writing on the wall.

Metals and Energy, that's the way forward.

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[Yirbu]

"don't give up on crypto" they said. . .
I saw the writing on the wall.

Metals and Energy, that's the way forward.

woopsie.jpg

Ha, ha, ha. Thats a serious move.
Moves of >10% are common in btc. Would be nice if we go sub 10k and after that resume the way up.