Daily Plus

[Jalarupa]

When I told my Dad I'm quitting my job to trade the markets he said;

"Thats great news, because when you work for yourself... You work like a bastard!"

So far been up since 2am Friday Morning and off to bed now 10:30pm Friday Evening...

Good Nite!

[PebbleTrader]

When you work for someone else, you work just hard enough that they won't fire you

and...

They pay you just enough that you won't quit

[Jalarupa]

Piecing the Dollar puzzel together...

Looks like some formidable resistance ahead... which seems to confirm the cones drawn on the AU and EU on the previous page...

[Jalarupa]

As I see it:

[Jalarupa]

If I'm understanding this correctly...

There's a nice short brewing on the USDZAR

Hmmmm... the same thing, but different...

[Jalarupa]

Been playing some ping pong with this AU...

Clearer Pic

[Jalarupa]

Another example of an imperfect triangle:

Do you mean, imperfect as in the triangles are difficult to draw in real time?

Because that's what I am seeing... unless you initially drew the top red line off the double hook BO's and then moved it down...

The angles seem very large, it's that cause for imperfection?

Thanks for the visuals

A perfect triangle has channels that are full of price actions where as an imperfect triangle is mostly empty.

If you have the first hook and the second hook is more of a breakout...and if price returns to the general area of where the second hook should be (close in proximity to the first) then you can detect a triangle.

Not to get mystical, but I am looking at the "spirit" of the pattern & not so much the lines themselves.

I trade price action with horizontal lines but I try to understand price action with diagonal lines & fractal triangular patterns.

It is not as hard as it looks, learn the basic methods of spotting them and then learn to feel price action; not with your eyes, but with your heart.

[Jalarupa]

M30

MO's process on the M2 and my attempt to replicate

Keen to short now... 7 Tick analysis

[Jalarupa]

Okay, So I'm looking at Macro Europe here...

Still not sure if the bottom is in... will wait for subsequent green momo (or a pull down to a demand zone below) and make a call then... But I have my eye on this...

If this currency goes up it means Euro is bullish (more bullish than pound) and the Euro fell hard this last week... but had been kept afloat by that really nice and critical 1.33 level...

Hmmm.. triangles say maybe... at these levels... encouraging levels...

Now with the GBP being the counter currency a bullish move would move the EURGBP higher [edit my disleksia kicking in again ... its the other way round... a bearish move is positive for the EG]... selling in Sterling will help the sell side of the pairs equation in this example...

There seems to be room for bullish moves higher if we can break the Mighty Zone above current price and join in the range / cone expansion let's see what develops... but if the MZ holds we could see a move higher in EG

[Jalarupa]

It is said that the first sign of madness is talking to yourself...

Well in that case...

So starting with the end in mind... (this echo's MO's statements and some realizations that I have picked up from others)...

Large time frame areas... where the big money wants to go to get their self fullfilling prophecy realized...

EURUSD H4

Step 1 find the FAT CAT/ZL/MZ MO FO's and Look to trade towards them...

EURUSDH1

Step 2 The trend is your friend 'ing I know...

EURUSDH1

ZeroLines and MOMO

Step 3 Lines that Price may or may not pass...

EURUSDM3

Step 4 Zoom in and Out and look for Cones and Triangles...

EURUSDM3

Step 5 Start getting creative

EURUSDM3

Step 6 Look for convergence and Pull the trigger...