Bettleboxs Breakdown of Zlines and MoMos

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bettlebox
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Postby bettlebox » Sun Jan 15, 2012 1:38 am

me practising Dragon Lines

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bettlebox
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Postby bettlebox » Sun Jan 15, 2012 3:24 pm

How to do 4hr swing anaylsis with simple colour change and continuation of momentum on lower time frames.

Tools:
15min, 1hr MoMos, Open High Low Close, 50% levels and simple colour change. Semaphor add value to the trade.

Guiding principles:-
If price isn't going up then its going down.
Momentum on higher timeframe starts at lower timeframe.

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Postby bettlebox » Sun Jan 15, 2012 6:17 pm

This is based off trade i posted above note the 4hr candles marked "A" and "B" to get you bearings.

This chart we attempting to get early enter using 30min extremes as doji described few posts back. Note the the 15min MoMo to upside is the key candle here, if this fails then price is going down. The candle that follows is critical. In this case it retraced on 15min MoMo and produced a nice wick very positive sign of continue movement to upside.

Using the 30min extreme we caught the initiale movement early about 60-70 pips to the close of 1hr momo to upside, after the 1hr MoMo you exist and watch for retrace for re-entry.

The key is spotting the 15min MoMo and weather it holds or fails the 30min line.

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Postby bettlebox » Sun Jan 15, 2012 6:38 pm

Zline failure and another 30min Extreme in same 4hr area as pictures above.

you can Target 4hr OHLC 50% levels for take profit targets.

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Postby MightyOne » Sun Jan 15, 2012 7:11 pm

I see two abnormally large M15 bars in the bullish momo (profit taking area for sure)
Short the doji with an IF/THEN that price doesn't close above the highest high.
If I didn't take that short then the 2nd of the 2 bearish candles to follow would have a limit in the MZ & IF/THEN for no close in MZ.
I love "stalls" that look like obvious S/R and will often increase my lot size slightly.
I would for sure exit at the bottom of the tall red candle or a close below it NO QUESTIONS ASKED =)

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Postby bettlebox » Sun Jan 15, 2012 8:21 pm

Thanks MO, very interesting i need to train my eye to spot those.

MightyOne wrote:I see two abnormally large M15 bars in the bullish momo (profit taking area for sure)
Short the doji with an IF/THEN that price doesn't close above the highest high.
If I didn't take that short then the 2nd of the 2 bearish candles to follow would have a limit in the MZ & IF/THEN for no close in MZ.
I love "stalls" that look like obvious S/R and will often increase my lot size slightly.
I would for sure exit at the bottom of the tall red candle or a close below it NO QUESTIONS ASKED =)
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Postby bettlebox » Mon Jan 16, 2012 8:17 pm

things im starting to understand

"Losing is not the enemy its the failure to do something with your losses is the real foe"

"Trader doesn't have a positive attitude because he wins. He wins because he dared to have positive attitude"


"Don't Trade with a frazzled frame of mind"


"Feeling offbase, uncertain, confused and you don't know why - respect your instinct"
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Postby bettlebox » Tue Jan 17, 2012 3:44 pm

Price was pushing up into 1hr Mightyzone. In hindsight i should ignored voices in my head just kept pushing higher until price gave me clear sign it was ready to come down.

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Postby IN-XS » Tue Jan 17, 2012 6:08 pm

Hi Bettlebox,

I like your pics and the information you are showing. I too like the "Dragon Lines" and took a couple of trades today.

First trade +18 my target was the dragon line, marked in white.

Second trade -20 I took this on the retrace into 1H momo and took a rat trade short and placed my SL at the previous high.

After that I stopped trading, but came back later to find that it had hit my target. Dont you just hate that?! Ha ha!

Image

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Postby bettlebox » Tue Jan 17, 2012 8:30 pm

Hi In-XS

1st entry was good trade , off a failed 15min MoMo, 1hr is with you and 4hr is with you and nice exit.

Second entry i just cant see entry at all , you got that big 15min bar to upside(the one with orange sema on bottom). I would want to see close below 50% level of that before going short. Plus 1hr was against you.

I have learnt to respect big bars like that and never forget the simple stuff, try to trade with the 1hr direction were possible.

Its sucks you had to leave screen.

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