Bettleboxs Breakdown of Zlines and MoMos

[bettlebox]

looking at EurUsd montly and weekly charts some interesting price action forming

Monthly:


and Weekly: Blue box is Montly MightyZone and Yellow Box is the weekly MightyZone.


BB

[bettlebox]

My little trade today on EurUsd, nothing huge just 53 pips.


BB

[bettlebox]

HI

What i learnt while i was waiting for my setup today.

I have been reading the Trade like a rat thread while been waiting for my setups and using my knowledge of momo suddenly striked me you can use 5min momo as a backup to your rat trades off highs and lows of day. I been going back look at low and highs previous days it happens over and over again. I posted this here because if i post it drain banks like rat think just confuse people who don't know about MoMos.

Check it out for yourself. and yes they seem to happen within 20pips.

Daily Chart from EurUSD Yesterdays


5min chart relating to daily 1 of 2


5min chart relating to daily 2 of 2

BB

[bettlebox]

lol just done this trade on EURUSD bag quick 17 pips this is too easy.

I used the TRO2009_MP_HLC_PIPS. EURUSD was busting new lows. Waited for my 5min MoMo off bottom, bought on retrace back up.

No MoMo no trade.


BB

[bettlebox]

Never Leave Home Without Your Play Book


================================================================

FOREX EXIT PLAY BOOK

PLAN "A"
+PIPS
20 WAIT
19 WAIT
18 WAIT
17 WAIT
16 SET STOP: ENTRY + 10
15 WAIT
14 WAIT
13 WAIT
12 WAIT
11 WAIT
10 SET STOP: ENTRY + 5
9 WAIT
8 WAIT
7 WAIT
6 WAIT
5 SET STOP: ENTRY + 3
4 WAIT
3 WAIT
2 WAIT
1 WAIT
0 ENTRY: STOP LOSS - 10


USE STOP MARKET


================================================================

You also need PLAN "B" (for scaling out, trailing stops) and possibly PLAN "C" (for other market conditions).

You must develop your own EXIT PLAY BOOK.

[dojirock]

Nice BB,

This is how I take them using zlines. 3 opps...only got two of them.

doji

[lazygeorge]

Good findings BB

[lazygeorge]

doji,

i understand your 1st one but not the other 2.....
please explain the other 2..

[bettlebox]

Hi Doji

yea i would only take first entry, i wouldn't take other 2 either. I would be expecting the very first MOMO to act as baseline wouldnt want price to come back right to the zline second time. Too risky for me.

BB

Nice BB,

This is how I take them using zlines. 3 opps...only got two of them.

doji

[bettlebox]

Hi,

I am finding the entry method, i have in my trade plan doesn't suit me. So i have been studying Dragons Entry method and i'm finding it sits much better with me.

Here is summary what i learnt and guide for me to remind myself what i am looking for.

Page 1


Page 2


Page 3


Page 4


page 5



BB.