Bettleboxs Breakdown of Zlines and MoMos

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bettlebox
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Postby bettlebox » Mon Sep 26, 2011 9:56 pm

I didnt see any A++ 1hr MoMos today. I did start practising my 5 min enters. Trying to ride it down at 5 mins. Man its hard, biggest thing i learnt i need to be patient and let price do it thing. Instead at +5 pips taking profit.
On picture i attached EUR/USD moved off with 108 pip run i could of bagged them.

I just need to build some confidence with my own ability to do the right thing at right time. I know what i am looking for :-

rat trades, 1-2-3 swings on 5min and im using yellow 3 and pink 2 to add weight to the swings as they appear. Of course under pinned by my favourite statement "If price did not close higher that something then its going down".

I will have another hour session again tomorrow see if i can hold my position .

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Postby bettlebox » Wed Sep 28, 2011 8:18 pm

Stupid bloody work my last week they are getting thier pound of flesh out me this week. Anyway not long to go now.

this was nice little trade i caught , A++ setup.

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Postby bettlebox » Mon Oct 03, 2011 7:26 pm

I know not part my thread but any i trade Pinbars caught this one for 77 pips today on GbpUsd. Took rest day off :)


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Postby bettlebox » Sat Oct 15, 2011 11:37 am

Hi everyone

ok so found it ver difficult to trade 1h on failed swing highs and lows so broken it all down again this my new approach. Its way everyone else is playing MoMos again done little visual Trade plan for myself like to share it. its 7 Pages the i will put them in order and i named them with page 1.2.3 etc

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Postby bettlebox » Sat Oct 15, 2011 11:42 am

My Visual Trade Plan.

Page 1


Page 2


Page 3


Page 4


Page 5


Page 6


Page 7 - Last page


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Postby PebbleTrader » Sat Oct 15, 2011 1:10 pm

Nice illustrations :)
Life is just a journey

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Postby bettlebox » Sat Oct 15, 2011 4:43 pm

thxs :)

PebbleTrader wrote:Nice illustrations :)
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Postby lazygeorge » Sat Oct 15, 2011 7:23 pm

Hi bettlebox,

Very nice explanation :)

This is a very similar approach,if not the same,as dragons style....

On your page 2....number 3, you say breakout of the top of the candle if price does not touch the MZ........if price breaks out top and accepts the breakout............

so your looking for a breakout,then pullback?

Good work......


TIA

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Postby bettlebox » Sat Oct 15, 2011 7:59 pm

Hi LG

I dont think waiting for pullback is good idea price almost always take off once a MoMo breaks out from what i have senn.

I would be down at 5min chart and looking for price to close about the line on 5mins then go on high that. I think the fact that price didn't get down to MightyZone means alot people coming into market.

I would place my stop/loss just below last swing point on 5mins, or no more than 15 pips. I then aggressively manage the trade, what i mean by this is close off some profits at +5pips and use it to offset my remaining risk.

But if price was jumping up like 3 pips at time i would let it ride and and close off a smaller fraction of trade.

I havent trade Break/outs of MoMo candles so this how i would like to trade. Its just like trading any line , be it s/r etc


Hope that helps.
BB

lazygeorge wrote:Hi bettlebox,

Very nice explanation :)

This is a very similar approach,if not the same,as dragons style....

On your page 2....number 3, you say breakout of the top of the candle if price does not touch the MZ........if price breaks out top and accepts the breakout............

so your looking for a breakout,then pullback?

Good work......


TIA
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lazygeorge
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Postby lazygeorge » Sat Oct 15, 2011 8:22 pm

Thanks for the reply...

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