A fresh start! Doji's Trading Journal

[MightyOne]

Just some analysis, no opinions offered

What does 'H' and 'HH' mean in this picture MO? Is it simply High and Higher High? Thanks

"H" for "hook", when you see two then you have a triangle.

Breakouts help define triangles because breakouts are never part of the triangle.

Price breaks out ("BO"), price breaks in ("BI"), & price moves to zero out profit.

[MightyOne]

I know that it looks hard, but if you take it step by step and reuse angles (13-18* or simply 15*)
& you know the basics of using median lines to project the other side of your channels then it
is actually quite easy for anyone to do.

All of these angles are 15*:

GBPUSDproM15.png (43.6 KiB) Viewed 5762 times

[newscalper]

It's worth holding but it's NFP tomorrow

image.jpg (109.29 KiB) Viewed 5899 times

[MightyOne]

It's worth holding but it's NFP tomorrow

Looking at some of the past weekly candles I can see that it very well
could go to 1.5100, but I wouldn't bank on it.

Sticking to Crash Zone areas is the best bet, most of the time.

GBPUSDproDaily.png (11.1 KiB) Viewed 5875 times

[newscalper]

Yeah, thx Mo.
If closing this week then I wholeheartedly agree. I was now thinking in terms of closing over something on the daily and holding over the weekend. Current bars say hold butNFP may bite me in the butt.

If the account was bigger I'd be using space for sure: before getting this one on I took 2 losses prior. Space would have avoided that but I'm at the smallest size I can go anyway ATM.

[newscalper]

I know that it looks hard, but if you take it step by step and reuse angles (13-18* or simply 15*)
& you know the basics of using median lines to project the other side of your channels then it
is actually quite easy for anyone to do.

All of these angles are 15*:

GBPUSDproM15.png

Can the triangle only be drawn after the third elipse has been formed (counting them from the left?

[newscalper]

Took profit

image.jpg (119.71 KiB) Viewed 5787 times

[MightyOne]

Well done News...

It did indeed continue short:

GBPUSDproM15.png (20.96 KiB) Viewed 5760 times

[MightyOne]

Can the triangle only be drawn after the third elipse has been formed (counting them from the left?

You need at least 1 hook and 1 breakout to define a triangle, but they come in many flavors:

many flavors.png (25.51 KiB) Viewed 6170 times

I only drew the cones in one direction for simplicity.

[MightyOne]

See, now it is easy:

GBPUSDproWeekly.png (25.19 KiB) Viewed 6173 times