Bettleboxs Breakdown of Zlines and MoMos

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bettlebox
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Postby bettlebox » Sun Jan 01, 2012 9:06 am

What i believe to be true at present moment.

The picture below has to be true. Its just simple MoMo. Theres no other way to see it.So what do we do after a MoMo? watch price action to catch it as re-act off a Zline.

Ok what else can we take as truth? MOs quotes, they got to be true.

Quote
"If the following CC closes higher than the leading CC, then the leading may have found S&R."


Im assuming here that this quote mean price is going up, so reverse for price to downside.

Altered Quote based on logic
"if the following CC closes LOWER than the leading CC, then the leading may have found S&R."


Ok so how do we know what is the leading CC and what is the following CC?
If we know how to find the leader then it be easy to find the follower.

Another Quote
"Candle that moves too far too fast is the leader"


This sounds like a MoMo right?. So we can identify the leading set of CC as MO quote states.

Ok what did MO say about following CC again.
Quote
"If the following CC closes higher than the leading CC, then the leading may have found S&R."

We know which is the leading CC so just simple test to see the following CC closing higher or lower.

There we have a complete picture that fits together with no lose ends and everything is accounted for.

To Summrise:
1. You get your MoMo with CC (leader identified)
2. we watch price for signs of bouncing off a Zlines (ie we are watching the CC if the following sets closes higher/lower than leader, meaning the leading CC set may of found S/R ie price hitting Zline after MoMo.
3. pick your entry.


This what i have in my head at moment.
PS.
I know this all one Time Frame and its not way to trade this. Our analyse should always be from Higher Time Frame down.Im just working in one time frame so i can fully grasp the concept. Before i apply across multiple time frames.
BB
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Postby 2+2=4X » Sun Jan 01, 2012 8:28 pm

Happy New Year!

Great discussion BB.

I now see a few things that I didn't before and are explained by "I look at both the single period and the CC's at the same time & on the same chart."

I never used a line chart with 3xCC before and it didn't jump out at me until I saw this chart.

Here are my observations:
1. The line chart touches the bottom of a CC when price is going down and the top of a CC when price is going up.
2. Number one is obvious, but I see areas where the line chart slopes up in a downtrend but still touches the bottom of the CC and vice versa.
3. There are also areas where the line chart closes at the top of 1, but only 1, of the 3 CC's during a downtrend and vice versa.

Why does this matter? The 3xCC seems to filter some of the areas that may have given me problems before. It is harder to get fooled on a lower TF if you wait for confirmation of what you are seeing on the traded TF. Also, if the other CCs close in the direction traded, it is much more likely that the traded CC will close in the direction you are trading.

Another thing I now see reminded me of something that MO once said:
"The best setup is a combination of time and price that also answers the question: did the highest high or lowest low come last?
The highest high and lowest low of a single candle...which came last?
A candle could have closed green having last made a lower low and you need to know that."


If you look at 3xCC like you are only trading one of the CCs (leader), then the other two CCs tell you if the CC you are trading closed higher or lower first. And the line chart, or single period, tells you what is going on on a lower TF.

I'll need to watch this live to see how if there is any value to these observations, but this is what jumped out at me looking at the chart.

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Postby handy148 » Sun Jan 01, 2012 9:05 pm

BB - careful of information overload. I'm sure MO has loads more trading methods he could bring from his locker. You seemed to be doing very well with basic MOMO's so why get distraced by CC's. Of course we all want to learn so I understand the interest.

Happy New Year to one and all.

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Postby MightyOne » Mon Jan 02, 2012 12:26 am

I only use OHLC (3xCC), S/R, & money managament

The other methods are used to impress women.

Image
Last edited by MightyOne on Mon Jan 02, 2012 4:29 am, edited 1 time in total.

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Postby bettlebox » Mon Jan 02, 2012 3:57 am

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 MightyOne » Mon Jan 02, 2012 4:28 am

Space is the distance from the current price that equals initial risk.

Value is the number of lots within a space.

Your space is large when the trade is low probability (there is only one lowest low but many lower lows) & smaller when the trade is high probability (the direction of profit).

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Postby bettlebox » Mon Jan 02, 2012 4:31 pm

Thanks Mo, I gone far as i can with this 3CC discussion.
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Postby TygerKrane » Mon Jan 02, 2012 5:56 pm

8) dojirock wrote:Thank you for the pic, mo. I believe you said once, to draw a line and if price closes above/below it then your wrong, it cant possibly be support/resistance. Tyger I bet, has the link to your exact quote. :)


LOL doji,
That line has been reiterated soo many times, so as to not even be funny anymore.

But here's one to grow on: {bookmarked as ~ "MO, additional clue for trading CC with support resistance"} :D

>>coincidentally, MightyOne just told bettlebox to only use one horizontal line...<<


Posted: Fri Apr 16, 2010
:idea: MightyOne :idea: wrote: When price closes below a line (in unit ie combined candles) that you believe to be support then something is WRONG!

ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!

Image

ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!


Supplementary material:

Posted: Thu Apr 15, 2010
:idea: MightyOne :idea: wrote: When price (as a unit) closes over a line that you believe to be support or resistance then something is WRONG.

The only place that you should enter into a position is in black ie the wicks.

Wicks show the way not...
bodies show the way.

This is the heart of trading.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Postby bettlebox » Mon Jan 02, 2012 6:15 pm

Tyger, in this example, the extreme of CC combined with single candle is the line.

is it also true The first CC to close across "The Line" is the leader? in 3CC

or if 2 of CC closes across "The Line" but of 1CC doesnt then that is body?

BB


TygerKrane wrote:
8) dojirock wrote:Thank you for the pic, mo. I believe you said once, to draw a line and if price closes above/below it then your wrong, it cant possibly be support/resistance. Tyger I bet, has the link to your exact quote. :)


LOL doji,
That line has been reiterated soo many times, so as to not even be funny anymore.

But here's one to grow on: {bookmarked as ~ "MO, additional clue for trading CC with support resistance"} :D

>>coincidentally, MightyOne just told bettlebox to only use one horizontal line...<<


Posted: Fri Apr 16, 2010
:idea: MightyOne :idea: wrote: When price closes below a line (in unit ie combined candles) that you believe to be support then something is WRONG!

ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!

Image

ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!
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 Jan 02, 2012 6:23 pm

tyger

can you look this picture , 1 st CC (dotted CC) across the line is the leader?


BB

TygerKrane wrote:
8) dojirock wrote:Thank you for the pic, mo. I believe you said once, to draw a line and if price closes above/below it then your wrong, it cant possibly be support/resistance. Tyger I bet, has the link to your exact quote. :)


LOL doji,
That line has been reiterated soo many times, so as to not even be funny anymore.

But here's one to grow on: {bookmarked as ~ "MO, additional clue for trading CC with support resistance"} :D

>>coincidentally, MightyOne just told bettlebox to only use one horizontal line...<<


Posted: Fri Apr 16, 2010
:idea: MightyOne :idea: wrote: When price closes below a line (in unit ie combined candles) that you believe to be support then something is WRONG!

ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!

Image

ONLY DRAW ONE LEVEL OF SUPPORT OR RESISTANCE AT A TIME!


Supplementary material:

Posted: Thu Apr 15, 2010
:idea: MightyOne :idea: wrote: When price (as a unit) closes over a line that you believe to be support or resistance then something is WRONG.

The only place that you should enter into a position is in black ie the wicks.

Wicks show the way not...
bodies show the way.

This is the heart of trading.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


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