Bettleboxs Breakdown of Zlines and MoMos

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bettlebox
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Postby bettlebox » Mon Oct 31, 2011 4:25 pm

I pretty sure what im looking for correct in regard to MoMo and entries just really starting to wear on me missing entries is major thing. I go off do something else come back to screen.

I caught entry this morning and its just so happens to be the one that wicks me out. AAAAAAAARRRRRRRRRRRRRRGFFFFFFFFHHHH!!!

Im going out for a walk clear my head
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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Postby Pro Trader » Mon Oct 31, 2011 4:56 pm

Hi BB. Just took this one.

H4 Momo 50% not quite hit but there is huge wick in direction of loss signally short for me.
H1 Momo Follows
15m Momo gets wicked away from H1 Momo zline for entry.
Exit after 15m Momo.

This is what I like to see.

H4

Image

H1

Image

15m

Image

lazygeorge
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Postby lazygeorge » Mon Oct 31, 2011 5:05 pm

bettlebox wrote:Losted this one i thought momentum was build to downside had a 1hr momo , retrace and 15min to downside form. I should of closed it the 15min bar i entered on, due to small body. I didnt because of frusration of another slow day.

I was going short.

Any comments much appreciated.




BB



Hi BB,

Chart attached with a few questions???
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11093_lost1_1.jpg
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bettlebox
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Postby bettlebox » Mon Oct 31, 2011 5:21 pm

Hi LG

I didnt consider that 15min MoMo as valid because of the last 1hour candle to left of it was MoMo and way it wicked off that 1hr zline as well.
BB

lazygeorge wrote:
bettlebox wrote:Losted this one i thought momentum was build to downside had a 1hr momo , retrace and 15min to downside form. I should of closed it the 15min bar i entered on, due to small body. I didnt because of frusration of another slow day.

I was going short.

Any comments much appreciated.




BB



Hi BB,

Chart attached with a few questions???
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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bettlebox
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Postby bettlebox » Mon Oct 31, 2011 5:25 pm

Hi Pro,

nice trade. I see how you built it up.

couple questions:

XT? Extreme ie low of 4hr momo yea?

when your scanning for entry do you just look at hourly first and then when you get 1hr MoMo there you start scanning on 15min?

or

You scanning every 15mins?

Thanks
BB

Pro Trader wrote:Hi BB. Just took this one.

H4 Momo 50% not quite hit but there is huge wick in direction of loss signally short for me.
H1 Momo Follows
15m Momo gets wicked away from H1 Momo zline for entry.
Exit after 15m Momo.

This is what I like to see.

H4

Image

H1

Image

15m

Image
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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Postby Pro Trader » Mon Oct 31, 2011 5:31 pm

Yes XT is just short hand for Extreme.

Always H1 first. I want to see H1 momo or H1 same size candles then I'll drop to 15m.

I've been burnt too many times in the past just taking 15m Momos in the H4 zone without considering H1 so now I always wait for H1 to confirm H4 direction before looking to enter.

When trading this way you have to wait a bit longer and there are fewer trades each week but in my opinion they are safer and worth the wait.



bettlebox wrote:Hi Pro,

nice trade. I see how you built it up.

couple questions:

XT? Extreme ie low of 4hr momo yea?

when your scanning for entry do you just look at hourly first and then when you get 1hr MoMo there you start scanning on 15min?

or

You scanning every 15mins?

Thanks
BB

Pro Trader wrote:Hi BB. Just took this one.

H4 Momo 50% not quite hit but there is huge wick in direction of loss signally short for me.
H1 Momo Follows
15m Momo gets wicked away from H1 Momo zline for entry.
Exit after 15m Momo.

This is what I like to see.

H4

Image

H1

Image

15m

Image

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Postby bettlebox » Mon Oct 31, 2011 5:49 pm

Thxs Pro, much appreciated. :)

Pro Trader wrote:Yes XT is just short hand for Extreme.

Always H1 first. I want to see H1 momo or H1 same size candles then I'll drop to 15m.

I've been burnt too many times in the past just taking 15m Momos in the H4 zone without considering H1 so now I always wait for H1 to confirm H4 direction before looking to enter.

When trading this way you have to wait a bit longer and there are fewer trades each week but in my opinion they are safer and worth the wait.



bettlebox wrote:Hi Pro,

nice trade. I see how you built it up.

couple questions:

XT? Extreme ie low of 4hr momo yea?

when your scanning for entry do you just look at hourly first and then when you get 1hr MoMo there you start scanning on 15min?

or

You scanning every 15mins?

Thanks
BB

Pro Trader wrote:Hi BB. Just took this one.

H4 Momo 50% not quite hit but there is huge wick in direction of loss signally short for me.
H1 Momo Follows
15m Momo gets wicked away from H1 Momo zline for entry.
Exit after 15m Momo.

This is what I like to see.

H4

Image

H1

Image

15m

Image
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

lazygeorge
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Postby lazygeorge » Mon Oct 31, 2011 5:59 pm

bettlebox wrote:Hi LG

I didnt consider that 15min MoMo as valid because of the last 1hour candle to left of it was MoMo and way it wicked off that 1hr zline as well.
BB

lazygeorge wrote:
bettlebox wrote:Losted this one i thought momentum was build to downside had a 1hr momo , retrace and 15min to downside form. I should of closed it the 15min bar i entered on, due to small body. I didnt because of frusration of another slow day.

I was going short.

Any comments much appreciated.




BB



Hi BB,

Chart attached with a few questions???









Hi BB

Personally i would not consider that H1 up as MOMO when compared to the large H1 down MOMO previously.

Also look at the rejection shown around the 50% area of that large down MOMO, but i suppose hindsight is a wonderful thing :D

Together we learn :lol:

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Postby bettlebox » Mon Oct 31, 2011 6:42 pm

You could be right LG, im no expert im just trying to work it all my self :).

BB


lazygeorge wrote:
bettlebox wrote:Hi LG

I didnt consider that 15min MoMo as valid because of the last 1hour candle to left of it was MoMo and way it wicked off that 1hr zline as well.
BB

lazygeorge wrote:
bettlebox wrote:Losted this one i thought momentum was build to downside had a 1hr momo , retrace and 15min to downside form. I should of closed it the 15min bar i entered on, due to small body. I didnt because of frusration of another slow day.

I was going short.

Any comments much appreciated.




BB



Hi BB,

Chart attached with a few questions???









Hi BB

Personally i would not consider that H1 up as MOMO when compared to the large H1 down MOMO previously.

Also look at the rejection shown around the 50% area of that large down MOMO, but i suppose hindsight is a wonderful thing :D

Together we learn :lol:
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

pp2
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Postby pp2 » Tue Nov 01, 2011 5:13 am

bettlebox wrote:I pretty sure what im looking for correct in regard to MoMo and entries just really starting to wear on me missing entries is major thing. I go off do something else come back to screen.

I caught entry this morning and its just so happens to be the one that wicks me out. AAAAAAAARRRRRRRRRRRRRRGFFFFFFFFHHHH!!!

Im going out for a walk clear my head


BB, you know right? Losses are always so annoying :roll:

The method you've been presenting seems sound --- stick with it bud :)

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