ProchargedMopar's Trading Trilogy

[prochargedmopar]

Counter trend to D1 "simplicty" h4 ENTRY chart with Mo n Go



With trend M1/W1/H4/H1

Cant really claim to be with H4 trend as supply is still in control. Look left.

[MightyOne]

A long term chart is not the same as a short term chart...
price can move hundreds of pips past resistance without breaking it.

You can trade a 5 minute chart based on numbers, but you can only
trade a monthly chart with forethought.

You might consider the whole chart when trading a 10 minute chart,
but to consider the whole weekly chart is foolish.

Here I circled the PA that I would consider...



...if it were a 240 minute then I might consider more data.

Lastly:

I have traded the 12, 6, 3, 2, & 1 month chart so I can say with confidence
that there is no reason to ever look at anything larger than the monthly chart;
the monthly chart itself is only useful twice a year.

Somewhere between 2 days and 2 weeks is an optimal long term chart...
all that I am saying is that I love long term charts and I won't go outside of this
range.

[prochargedmopar]

A long term chart is not the same as a short term chart...
there is no reason to ever look at anything larger than the monthly chart;

Somewhere between 2 days and 2 weeks is an optimal long term chart...

10/2 = 5
That settles it.

1 week it is.
I Look at it on Sun. and Wed.

I trade the daily positions.
I enter on H4 or H1

D1/h4/h1

[prochargedmopar]

According to rules I may have to dump this trade.
But it just "feels" like it wants to go up. Uuuugh.

I could move my position up to just below the D2+ extreme.....but that doesn't seem like the extreme to me.
Below the first swing low to the left seems more like the "extreme" on this chart.

[prochargedmopar]

The D2+ extreme is about 75 pips away.
$402 acct balance
Risking 3%
To normalize risk........
Lot size would have to move from 300 units to 1608 units or about 0.16 cents a pip instead of 3 cents.


Same 3% risk as above but using the daily swing low to the left its about 300 pips away.
Lot size would have to move up to about 402 units OR 4 cents a pip. There abouts.

[MightyOne]

Either you went long or are planning to go long or are planning to gamble on a short hoping that price conforms.

Any S/D levels are irrelevant, focus on what you need RIGHT NOW & then take it one day at a time.



I need to enter from the 2+ day extreme or from the BOx.
If I take a gamble against the direction of profit then I need the large
chart candle to conform and give me a sign that price is in fact reversing.

Simple as that.

[prochargedmopar]

Ok PRO,
pay attention. don't get side tract.

LOL

[prochargedmopar]

Either you went long or are planning to go long or are planning to gamble on a short hoping that price conforms.

Any S/D levels are irrelevant, focus on what you need RIGHT NOW & then take it one day at a time.

I need to enter from the 2+ day extreme or from the BOx.
If I take a gamble against the direction of profit then I need the large
chart candle to conform and give me a sign that price is in fact reversing.

Simple as that.

I'm long, I'm staying long.
I like the looks of both the monthly AND daily chart. The weekly looks like crap for longs.

2 of 3, it's a gamble.

[prochargedmopar]

My lines in the sand.

I've had enough,
Imma do this s**t!!
I'm doin this s**t right now.
And do it right.

[MightyOne]

These are all the levels that interest me

of course none of them matter until we actually get there and see how price reacts