Daily Plus

[alexi13]

The idea to markup the mountains is just awesome
and nice analysis of course, I'd like to see more

[Jalarupa]

So there I was starring at this chart and all of a sudden the dots started to point towards an interesting fractal...



If the above fractal is to believed, then we may even be getting a glimpse of what a Brexit run would/could look like...

[MightyOne]

It is easier to interpret fractal patterns when you use a simple 2-period MA...
It is still really F to the King hard to reduce complex patterns into simple trade ideas.

As you can see, the pattern can repeat as a small blip or as a massive swing & it is difficult to figure out where one pattern ends and another begins.

GBPUSDecnH4.png (28.05 KiB) Viewed 8220 times

[Jalarupa]

Thanks for the direction MO

I agree your chart looks way more "believable" than mine...

We are after all coming out of a Fat Cat S/R ... I was also pondering the BO and BI of the cone in the chart...

Then I started drawing...

Then my eyes went funny again and I started to perceive DOP on a 3 Dimensional plane...



Diamonds offering a platform for S/R

[MightyOne]

Thanks for the direction MO

I agree your chart looks way more "believable" than mine...

There is nothing wrong with your interpretation...
you saw a cone in micro and a cone in macro & that is how the market moves from the smallest to the largest charts.

GBPUSDecnH4.png (34.65 KiB) Viewed 8181 times

[MightyOne]

Time to trade at half lot size if you are to continue long.

GBPUSDecnH4.png (31.84 KiB) Viewed 8132 times

[Jalarupa]

Yeah Awesome MO!

Best part is, it represents a 500+ Pip Swing from Cone to Cone... LOVE the H4 Cones...



Looking at the steps the PA takes intra-day on the downward sloping cone is also very interesting...



Honestly, I consider cones as the holy grail... really... stop searching... its right here in front of your eyes...

[pablo101]

Hi Jalarupa, I hope you are still around and killing it.

I know this is the Daily Plus but I noticed this was cone, triangles heaven in this thread so if you don't mind, I ask you here.

I've been having a lot of fun drawing cones on the smaller time frames and scalping them from one side of the cone to the other. Can't believe how powerful and fun it has been with the angles.

But I get the impression that MO was showing us timing but it wasn't meant to be scalped and he was trying to help us see something else.

Anyway, I can see the use of micro and macro cones in my trading but I also see other things like triangles and not sure the purpose of the entire thing. Can it, does it, show likely direction?

JalarupaCones.png (60.71 KiB) Viewed 3923 times

[Jalarupa]

Hey Pablo,

My usage of cones is still something I do, but I find more use out of reading the big picture H4 cones and then trading them... the reality is, after reading my last post... comes need to be used in conjunction with what MO taught... Zlines FAT CAT S/R and MOMO (horizontal lines)...

If you do this on any time frame you can scalp and make money... if you do this on bigger time frames you can position trade and make money and make more money scalping the small moves in between...

A friend of mine; Newark on this forum uses cones probably in one of the best way I have seen... he uses what MO called a upset and fake outs (stop hunt) to establish the cones tend direction...

There’s a lot of value in cones, I find most of my success trading them, while applying everything else I have learnt about horizontal lines... I see you do too and that is why you have success in using them...

A cone at an extreme of a range is a fake out or a stop hunt... the opposite trend channel is confirmation of this...

[pablo101]

Hey Pablo,

My usage of cones is still something I do, but I find more use out of reading the big picture H4 cones and then trading them... the reality is, after reading my last post... comes need to be used in conjunction with what MO taught... Zlines FAT CAT S/R and MOMO (horizontal lines)...

If you do this on any time frame you can scalp and make money... if you do this on bigger time frames you can position trade and make money and make more money scalping the small moves in between...

A friend of mine; Newark on this forum uses cones probably in one of the best way I have seen... he uses what MO called a upset and fake outs (stop hunt) to establish the cones tend direction...

There’s a lot of value in cones, I find most of my success trading them, while applying everything else I have learnt about horizontal lines... I see you do too and that is why you have success in using them...

A cone at an extreme of a range is a fake out or a stop hunt... the opposite trend channel is confirmation of this...

Cones are just so neat and tidy, it's bizarre how price respects them really well on any timeframe. If the area matches an obvious RBD DBR (horizontals, angles) area on the left it's very pretty PA. It's better if price is overbought or sold. I was almost sure that MO was showing us how to use them to position but that's in my trading tools as yet.

Thanks for the hint on Newark, will be searching for his posts here, dreading if his images are still here though, kreslik has lost so many images because of the end of tinypic.

"A cone at an extreme of a range is a fake out or a stop hunt... the opposite trend channel is confirmation of this..."

Do you mind showing any charts on this?

Thanks for the help.