Bettleboxs Breakdown of Zlines and MoMos

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Postby bettlebox » Wed Jan 29, 2014 3:17 pm

As promised here is tool i was talking about. I quote Mo here its old but all its using classic zlines theory laid down by Mo. Like Mo says reading bar like this give a better feel for price ie the battle between the buyers and sellers.

You maybe asking why highs and lows?
Well i see them been stronger signal as level committment from the market.

I have included screen cuts of principles and then i applied it todays price action on 15min chart bar by bar.
Attachments
mo 2.JPG
MO quote page 2
mo 2.JPG (52.87 KiB) Viewed 1797 times
mo 1.JPG
MO Quote page 1
mo 1.JPG (77.68 KiB) Viewed 1797 times
eurusdm15aa1.png
Page 1 EURUSD BAR BY BAR ANALYSIS
eurusdm15aa1.png (76.34 KiB) Viewed 1739 times
eurusdm15bb1.png
Page 2 EURUSD BAR BY BAR ANALYSIS
eurusdm15bb1.png (49.77 KiB) Viewed 1739 times
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Postby bettlebox » Wed Mar 12, 2014 7:59 pm

Something been happening to trading over last month. Im recording here as part of progression.

The whole event was triggered by a slump period leading to this. At time i wasnt sure what was going on. Looking back on the experience i now realise i had outgrown a heavy rule base style form trading and my mind was trying to break free throwing up conflicts with in me.

I broke everything down and took an approach based on ideas alone.

I went right back to start and re-read TROs archieve post from Babypips back from 2008. I realised i could see everything TRO was saying was true. This where gets bit wishie washie cause i cant explain what the difference is. I have read that thread about 5 times before (just first 1000 posts cause people start talking about squiggles and loses it way).

All i can say is i have whole lot more chart time since i read it maybe this is the difference. I re-read it and this where my gut instinct was leading me. I had to drop all the rules and adopt a different approach. This is what i knew instinctly i had to do. It wasnt easy letting go something i put so much effort into.

So how do i trade differently to what i was doing in the pass.? I still use 4hr , 1hr and 15 & 5mins, ZLines and momos.

The biggest difference is how i observe the charts. I just look and let price guide me without the rules. Maybe i have learnt to trust myself to simply watch and react.

This quote from babypips thread from TRO fits nicely here.

[highlight=red]"Knowledge applied properly, at the appropriate time, is profitable."

1) You have to have the knowledge

2) You have to apply it properly

3) You have to apply it at the appropriate time.
[/highlight]

Up until recently i had rules to keep me in line with these 3 points because i didnt trust my own observation of price. This is where i was been lead to and the need to transform.

By using rules to obtain a feel for what market was doing required huge effort everyday. Now i have shaken loose from all them rules, everything is so simple and easy now. Just observe and react.

At the time it felt like i was losing my dream, it was slipping out of my grasp. It was a scary transformation.

I believe all the rules served a point, like training wheels when you learnt to ride a bike. There comes point when its time to shed them, my time had come.

BB
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Postby onontsira » Wed Mar 12, 2014 9:07 pm

Wooo, what a great transformation you had here!

I still trade with too many rules and would like to achieve the same but I think that it will come, as you said, when the amount of screen time will be sufficient. And that is not the case at the moment.

Anyway, I also removed a lot of useless process to clarify my trading and make it less mecanical but I still need some tools: I trade from supply/demand areas to prevent me to make big mistakes, and use it at starting points.

You said you also still trade the same TF's, ZL's and Momo's, so would you please be more precise about what you removed and above all, what is your starting point when you first look at a graph. I confess that without S/D zones placed on a chart, I fell quite lost about where to start trading... like I am lost in the galaxy... I still need something to start from and to go to...

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Postby bettlebox » Thu Mar 13, 2014 7:08 am

Hi Onotsira

I will try.

The principles

1) Price breaks out and then turns and retraces on all time frames.
2)There is no Trends only what you immediately have in front of you is the most important, on all time frames.If price is up at moment then trade it that way. If its down its down and trade it.
3)Measure of how to enter a trade safely with a enough wiggle room. If the price narrrow to much then stay out and wait for something more juicy.

To put these into pracital use all you need is
:- 1hr 4hr zline for targets.( handful of lines)
Then observe the price flowing on your entry chart. (this breakout and retracement, breakout, retracement cycle) for me this is the 5min chart. I like 5min cause frequency of the detail it gives of this flow.

Once you can identify this flow you need a simple method to gauge when price has turned i use 5min zlines (as laid down by the mighty one) or a straight 5min engulfing (also entry method).

When i watching i see breaking out on 5mins and its nice sized breakout im looking for a reversal according to my price turn. If i got enough room i will take the counter trend to these breakout. Then as price is retracing back up the last breakout im looking for another turn and drop.

Thats it.

This my trades from yesterday on Gbp Usd.


BB





onontsira wrote:Wooo, what a great transformation you had here!

I still trade with too many rules and would like to achieve the same but I think that it will come, as you said, when the amount of screen time will be sufficient. And that is not the case at the moment.

Anyway, I also removed a lot of useless process to clarify my trading and make it less mecanical but I still need some tools: I trade from supply/demand areas to prevent me to make big mistakes, and use it at starting points.

You said you also still trade the same TF's, ZL's and Momo's, so would you please be more precise about what you removed and above all, what is your starting point when you first look at a graph. I confess that without S/D zones placed on a chart, I fell quite lost about where to start trading... like I am lost in the galaxy... I still need something to start from and to go to...
Attachments
h1 td.png
1 hr Chart GU
h1 td.png (40.5 KiB) Viewed 1510 times
5m td1.png
5min Chart GU
5m td1.png (46.53 KiB) Viewed 1510 times
5m td.png
How i see the price.
5m td.png (54.34 KiB) Viewed 1510 times
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Postby onontsira » Thu Mar 13, 2014 8:47 am

Thank you very much Doji for this detailed answer.

That's exactly what I'm trying to achieve. The main difference is that I don't have anymore confidence in "fixed" timeframes so I concatenate candles between semafors (with blubbb custom candles in ordrer to show momentum that makes a breakout). I also don't place the second (counter) breakout at the same place as you do.

Let me know what you think:

1/ there is a lower low marked by a "down" M15 semafor
2/ in order to capture the more down momentum that I can, I concatenate the down move between the lower semafor and his previous
3/ now that I have my down momo (due to blubbb custom candle indi), I can see where he made his breakout
4/ he broke down the previous candle extreme (of the same shift) at the yellow line
5/ the next concatenate (of same shift) which breaks up means bias up
6/ I then wait for simple ZL on M15... which allow me to get out easily if price goes against me

Do this makes sense? Please fell free to correct me if you see that I'm doing something wrong.

I think that I still need a "starting point" because I struggle to trade "in the middle of nowhere". I see what you do but I tend to use 3CC H1 instead, which seems to give a better timing and avoid myself trading "in the middle of nowhere". I also find it more confortable (for my mind) to make this in a s/d zone.

Do you believe all these "contexts" that I need are meaningful? Because as you said "only what you immediatly have in front of you is the most important", I quite think the same and start to believe that I could sometimes buy in supply and sell in demand (aka "remove training wheels"?)... So I should trade without those rules that kind of make me think too much in a box...

All this is due to the fact that I first look (I need) for a high TF event and I am surprised to see that you only look at high TF for targets (am I correct?)
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Postby Jalarupa » Thu Mar 13, 2014 9:26 am

bettlebox wrote:Hi Onotsira

I will try.

The principles

1) Price breaks out and then turns and retraces on all time frames.
2)There is no Trends only what you immediately have in front of you is the most important, on all time frames.If price is up at moment then trade it that way. If its down its down and trade it.
3)Measure of how to enter a trade safely with a enough wiggle room. If the price narrrow to much then stay out and wait for something more juicy.

To put these into pracital use all you need is
:- 1hr 4hr zline for targets.( handful of lines)
Then observe the price flowing on your entry chart. (this breakout and retracement, breakout, retracement cycle) for me this is the 5min chart. I like 5min cause frequency of the detail it gives of this flow.

Once you can identify this flow you need a simple method to gauge when price has turned i use 5min zlines (as laid down by the mighty one) or a straight 5min engulfing (also entry method).

When i watching i see breaking out on 5mins and its nice sized breakout im looking for a reversal according to my price turn. If i got enough room i will take the counter trend to these breakout. Then as price is retracing back up the last breakout im looking for another turn and drop.

Thats it.

This my trades from yesterday on Gbp Usd.


BB





onontsira wrote:Wooo, what a great transformation you had here!

I still trade with too many rules and would like to achieve the same but I think that it will come, as you said, when the amount of screen time will be sufficient. And that is not the case at the moment.

Anyway, I also removed a lot of useless process to clarify my trading and make it less mecanical but I still need some tools: I trade from supply/demand areas to prevent me to make big mistakes, and use it at starting points.

You said you also still trade the same TF's, ZL's and Momo's, so would you please be more precise about what you removed and above all, what is your starting point when you first look at a graph. I confess that without S/D zones placed on a chart, I fell quite lost about where to start trading... like I am lost in the galaxy... I still need something to start from and to go to...


This is beautiful analysis BB, esp the first drawing... Just look how the fractal PA expands itself... like a self fulfilling prophecy... It is a thing of beauty.

Very nice Thank you
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Postby bettlebox » Thu Mar 13, 2014 10:25 am

Hi Onotsira

In mornings i look to join the flow of money on 5mins until hits something on higher timeframe Targets, that is correct.

Most time these will fall into line with 1hr or 4h supply or demand zone any way but dont over think it.

Think of it like the bankers are building something but at time you dont know what they are building it could be a hut or could be tower. Down at ground level all you see is bricks been put in place, so you copy what they do and if you end up with a hut so be it if end up with a tower then its a bonus. But i know if i copy them brick for brick it doesnt really matter what the outcome is i will end up in the same place as them with same profit as them. Bankers have the blueprints there no point in me trying to guess what is on that blueprint. Its all about having the confidence in what you are seeing and reacting to it.

As you rightly said the highest probably trades are at those higher time frames Supply/Demand areas.You also mentions confidence and a need to have some where to start from.

I felt exactly same way outside these areas of supply and demand i had very little confidence. But what was happening inside me was taking these trades was training my observation skills and reacting to what i was seeing.

If you keep taking these trades, as you do at the moment then with each one you take its gaining you experience.

Do these things have context for you at moment?. Based on what you said i would say they do, at the moment. But remember you are gaining experience and you may not feel like it is, buts its building with in you. Trust this.

I know its difficult because you always feel like you are pushing into darkness and you are never sure what your doing is right and its only when you look back that some how things fell into place and you some how got through.


so question becomes When is the right time ? something you will need to feel with in yourself.

BB






onontsira wrote:Thank you very much Doji for this detailed answer.

That's exactly what I'm trying to achieve. The main difference is that I don't have anymore confidence in "fixed" timeframes so I concatenate candles between semafors (with blubbb custom candles in ordrer to show momentum that makes a breakout). I also don't place the second (counter) breakout at the same place as you do.

Let me know what you think:

1/ there is a lower low marked by a "down" M15 semafor
2/ in order to capture the more down momentum that I can, I concatenate the down move between the lower semafor and his previous
3/ now that I have my down momo (due to blubbb custom candle indi), I can see where he made his breakout
4/ he broke down the previous candle extreme (of the same shift) at the yellow line
5/ the next concatenate (of same shift) which breaks up means bias up
6/ I then wait for simple ZL on M15... which allow me to get out easily if price goes against me

Do this makes sense? Please fell free to correct me if you see that I'm doing something wrong.

I think that I still need a "starting point" because I struggle to trade "in the middle of nowhere". I see what you do but I tend to use 3CC H1 instead, which seems to give a better timing and avoid myself trading "in the middle of nowhere". I also find it more confortable (for my mind) to make this in a s/d zone.

Do you believe all these "contexts" that I need are meaningful? Because as you said "only what you immediatly have in front of you is the most important", I quite think the same and start to believe that I could sometimes buy in supply and sell in demand (aka "remove training wheels"?)... So I should trade without those rules that kind of make me think too much in a box...

All this is due to the fact that I first look (I need) for a high TF event and I am surprised to see that you only look at high TF for targets (am I correct?)
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Postby bettlebox » Thu Mar 13, 2014 10:34 am

Hi Jara

oh yes i never notice that. :D

BB
Jalarupa wrote:
bettlebox wrote:Hi Onotsira

I will try.

The principles

1) Price breaks out and then turns and retraces on all time frames.
2)There is no Trends only what you immediately have in front of you is the most important, on all time frames.If price is up at moment then trade it that way. If its down its down and trade it.
3)Measure of how to enter a trade safely with a enough wiggle room. If the price narrrow to much then stay out and wait for something more juicy.

To put these into pracital use all you need is
:- 1hr 4hr zline for targets.( handful of lines)
Then observe the price flowing on your entry chart. (this breakout and retracement, breakout, retracement cycle) for me this is the 5min chart. I like 5min cause frequency of the detail it gives of this flow.

Once you can identify this flow you need a simple method to gauge when price has turned i use 5min zlines (as laid down by the mighty one) or a straight 5min engulfing (also entry method).

When i watching i see breaking out on 5mins and its nice sized breakout im looking for a reversal according to my price turn. If i got enough room i will take the counter trend to these breakout. Then as price is retracing back up the last breakout im looking for another turn and drop.

Thats it.

This my trades from yesterday on Gbp Usd.


BB





onontsira wrote:Wooo, what a great transformation you had here!

I still trade with too many rules and would like to achieve the same but I think that it will come, as you said, when the amount of screen time will be sufficient. And that is not the case at the moment.

Anyway, I also removed a lot of useless process to clarify my trading and make it less mecanical but I still need some tools: I trade from supply/demand areas to prevent me to make big mistakes, and use it at starting points.

You said you also still trade the same TF's, ZL's and Momo's, so would you please be more precise about what you removed and above all, what is your starting point when you first look at a graph. I confess that without S/D zones placed on a chart, I fell quite lost about where to start trading... like I am lost in the galaxy... I still need something to start from and to go to...


This is beautiful analysis BB, esp the first drawing... Just look how the fractal PA expands itself... like a self fulfilling prophecy... It is a thing of beauty.

Very nice Thank you
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Postby onontsira » Fri Mar 14, 2014 8:18 am

Thank you BB for sharing your experience here, it's very helpful

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Postby bettlebox » Wed Oct 01, 2014 7:48 pm

Hi everyone

This update how im trading at moment. I have made the jump to higher time frame trading this quick over view with an example of a live trade im in at the moment on GBP/USD.

1) Identify major support and resistance on daily time frame.
2) Once price in an area of S/R on daily look for price turn on the daily chart.
3) Next day after a price turn drop into the hourly chart and look for the pullback.
4) Then momentum to away in your direction. Take your entry.
5) have some form trade management and trade to your next daily S/R line.

Ok so as quick overview here is a live trade im still in at moment. It shows the 4 steps.

This is everything its really is quite simple method using exactly same principles its all momentum and retracement. The key is number 1 identify S/R all these areas are is where price moved away from an in hurry. ie big movements of 100 pips or more.

I will try expand on the ideas time allowing.

BB
Attachments
GBPUSDDailypage 3.jpg
Entry Chart 1hour
GBPUSDDailypage 3.jpg (95.33 KiB) Viewed 873 times
GBPUSDDailypage 2.jpg
Daily Chart Zoom with price turn line
GBPUSDDailypage 2.jpg (103.15 KiB) Viewed 873 times
GBPUSDDailypage 1.jpg
Daily Chart showing S/R lines
GBPUSDDailypage 1.jpg (116.99 KiB) Viewed 873 times
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