mook - LOG

[mook]

Ok, I'm done. I don't wanna take all the dough. LOL

Hit the gym, and come back at 7pm.

ciao for now

[prochargedmopar]

Ok, I'm done. I don't wanna take all the dough. LOL

Hit the gym, and come back at 7pm.

ciao for now

So are those the 100% and 50% fibs or did you add an indy to your trading?
Thought we were drawing our own red lines.

[mook]

You need to use both. H4 fibs give you the overall structure. M5 zlines give you entries.

Maybe this is a better explanation.
1) The H4 fibs provides me with structure. I can definitively see the larger encompassing structure from the H4 0,50,100 fibs.

2) I scale to the M5 chart to find where price is moving within this structure. I look for M5 Momo, and draw Zlines and TP levels for entries and exits.

3) just remember that M5 price action can move within the range of 1 H4 candle or move into another H4 candle.

4) draw your lines, and look for the setup. Easy.

I hope this helps you Pro.

[mook]

hmmm... off the m15. Look to see where the setup is most clear. Then just push buy or sell. On a jet plane tomorrow. So probably no trades next week. But I'll be reading on whatever transpires on Kreslik.

[mook]

First stop is bottom red line, then decide if you want to add or cash.

Easy.

[mook]

I hope you guys got some of this. Previous lines were trades made. I'm in the last one. I didn't think it would get this high. One more zline/fig up top. Waiting to see if it hits. Its been a good day.

[newscalper]

This is where I've gotten confused with this. Now I know ideally I should have been looking for longs after the good H4 close up at the bottom but as usual it was when I was asleep. Now there's further H4 momo which MAY signal further longs after pullback. So good so far.

H4 chart showing fibs and Zline


H1 chart, showing H1 momos and Zlines within the H4 Mighty Zone, theres 2 of them:


M15 chart, it's now getting pretty crazy. I'm looking for price to cross a line...hmm, which one, plus there are lots of little zones above the H4 50% area where price could well bounce and go long from?


M5 chart using custom candle (really just a refinement of M15 but can see near term momo better)


Price closes under and then over a line. Great, no problem with that. Which line is often my problem?

[adaseb]

[newscalper]

Yeah: you can see the s/d areas on the 5 minute chart but that throws anything to do with 50% fib retracements of a 4 hour momo out the window?

There's also the 4th area at the bottom where the 4hr Zline is.

Here's the near term PA:


See - it's still not as simple to me as price closing over a line. Again the question really is still, which line? If a 3CC was to now close green above the lower black line, to my mind 'not long yet', price is still in the zone and there's still small resistance above (upper black line) though price has closed over a line.

Price presently is closing short but I'm not shorting it straight into another zone. But that's the issue for me because if price goes to one of the lower zones, it holds and then turns round I can almost guarantee there are small pockets of supply all the way up, same issue then - going long into supply, and unless I can wipe those from my view...paralysis by analysis.

BTW I'm not a scalper looking for 5 pips, what I'm trying to do is trade the 4 hour chart with a small TF entry.

[newscalper]

See, right now a close over is happening, is this reason to go long? It's bouncing off the second zone down, it's closing over a line (albeit only the lower line of the above supply level that was broken) but there are still lines above....