Bettleboxs Breakdown of Zlines and MoMos

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pp2
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Postby pp2 » Thu Jan 05, 2012 4:46 am

No BB, you're not waffling. Thank you for your honesty and this journal. :)

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Postby bettlebox » Thu Jan 05, 2012 4:58 am

sorry PP2 i added some extra bits into the response. you Might have read of those extra bits.

Thanks PP2



pp2 wrote:No BB, you're not waffling. Thank you for your honesty and this journal. :)
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 bettlebox » Thu Jan 05, 2012 7:25 pm

Hi Loggerjim

I would call that Dragon line, not a momo.Where you have to bodies next to each other . Ie price ran up then straight back down again forming what looks like a rail track.

I would class it as agressive entry the one you took. But nice trade good entry and good exit. :)

It all about the ebb and flow of the market. As you know price never moves straight up and down. You get your highest probability trades on the turn of ebbs, back in direction of the flow.

here is example of how i trade the ebb and flow with MoMos. You can trade both Ebb N Flow swing just realise that ebb swing tends to be slower and shallow compared to flow swing. Fleece it up the way up and fleece it on the way down .


clean chart so you can see the bars.


This is a clean cut example

BB

loggerjim wrote:Not sure if this is considered a dragon entry. From what I can tell it might be. Picked up 29 pips before I had to get ready for work.
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Postby bettlebox » Sat Jan 07, 2012 12:05 am

Wish MO exampled 3CC to me like he did in Rat continues thread over xmas would saved me aload time. I put here incase people miss it and future ref.

Thanks MO every little helps :)

http://kreslik.com/forums/viewtopic.php ... c&start=20

MO's post on page 3:
Here are 2 patterns that I look for before taking a rat trade:

a) 3-bar pattern where bodies are consecutively larger

b) 3-bar pattern where bodies are consecutively shorter

Price will either race towards S/R or slow down when it draws near to it (that is the theory anyway):



One of the reasons I have CC in shifts is to find these patterns.

MOs next post:
Close under a line short at the top & some more pictures of 3-bar patterns finding S/R




MOs next post: Page 4 **** MO talking about Rat Trading here ****
The patterns are like feelers for S/R levels.

S/R & 20 pips from the daily low is background information that helps you trade the rat.



"Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

end
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Postby bettlebox » Mon Jan 09, 2012 4:35 pm

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 bettlebox » Mon Jan 09, 2012 7:28 pm

Something occurred to me just now. If market gaps down/up has always been no mans land for me.

Well I was looking at my 3CC chart. What if i treated it like a MoMo? if its big enough. lol *facepalm* my depths of stupidity amuse me.

EurUsd Gap down on sunday night.

BB
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Postby dojirock » Wed Jan 11, 2012 2:29 am

Hi BB and pp2,

Did a few trade breakdowns, hope this will help you.
bodies closing lower than a low(my line) on a 30min



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Postby dojirock » Wed Jan 11, 2012 2:33 am

Look for same pattern on 15min time frame or a close above 30 min line
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Postby dojirock » Wed Jan 11, 2012 2:37 am

drop to 50 min, look for a breakout to the upside, enter on 1st short candle close.
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Postby dojirock » Wed Jan 11, 2012 2:44 am

body closes above previous high, becomes line, 30 min
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