View on 4h of where i wanna average up.
comments are welcomed
JUAN
Blind Mouse Strategy
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newark18
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So who here has been focusing on learning blind mouse? I would love to have an intelligent conversation with someone dedicated to learning this. I have been putting immense time into learning this strategy but I need to talk it out with someone and bounce ideas off each other. If someone wants to collaborate and learn from each other, PM me and we can start talking.
Subjects that I would like to discuss: (1) how to draw S&R lines more accurately (I have I think a pretty good understanding but I am open); (2) what is the best way to combine and number candles; (3) what is the best entry (I think that there is an ideal entry point after price closes over a line which I understand to be a little late); (4) What extremes do we use for entry; and (5) ideas for exit. I have thoughts on each of these topics.
Anyway, let me know if you want to chat.
Subjects that I would like to discuss: (1) how to draw S&R lines more accurately (I have I think a pretty good understanding but I am open); (2) what is the best way to combine and number candles; (3) what is the best entry (I think that there is an ideal entry point after price closes over a line which I understand to be a little late); (4) What extremes do we use for entry; and (5) ideas for exit. I have thoughts on each of these topics.
Anyway, let me know if you want to chat.
Failure is an opportunity to learn.
[quote="newark18"]
...Subjects that I would like to discuss:
(1) how to draw S&R lines more accurately (I have I think a pretty good understanding but I am open);
(2) what is the best way to combine and number candles;
(3) what is the best entry (I think that there is an ideal entry point after price closes over a line which I understand to be a little late);
(4) What extremes do we use for entry; and
(5) ideas for exit. I have thoughts on each of these topics...
/quote]
(1) Price closed over a line, what line did price close over?
My definition of S&R is a line that price does not close over.
What if price closed higher and then closed into the previous candle?
Based on my definition of S&R, S&R could have been anywhere between the OC of the first candle but now must be lower than the close of the second because if price closes over a line then it is not support.
Where you draw your line in the sand should be based upon how you create a position.
If your entry pattern is 1u, 1u, 2u, then support is below a 50% retracement.
If your entry pattern is 1u, 1u, 3u, then support is below a 40% retracement.
(2) Highest close & 2 candles back + vise versa. Master price closing over a line before you go any further.
(3) The best entry is one in which price doesn't come back and shove a red candle down your throat hole
(4) The larger the time period the better...any extreme where it is likely that you can set an average before price closes over your line in the sand.
(5) After:
1. a large CC.
2. the 3rd or 5th or 7th
wave
3. price does not close higher
4. price closes over a line that you believe to be S&R
just to name a few.
...Subjects that I would like to discuss:
(1) how to draw S&R lines more accurately (I have I think a pretty good understanding but I am open);
(2) what is the best way to combine and number candles;
(3) what is the best entry (I think that there is an ideal entry point after price closes over a line which I understand to be a little late);
(4) What extremes do we use for entry; and
(5) ideas for exit. I have thoughts on each of these topics...
/quote]
(1) Price closed over a line, what line did price close over?
My definition of S&R is a line that price does not close over.
What if price closed higher and then closed into the previous candle?
Based on my definition of S&R, S&R could have been anywhere between the OC of the first candle but now must be lower than the close of the second because if price closes over a line then it is not support.
Where you draw your line in the sand should be based upon how you create a position.
If your entry pattern is 1u, 1u, 2u, then support is below a 50% retracement.
If your entry pattern is 1u, 1u, 3u, then support is below a 40% retracement.
(2) Highest close & 2 candles back + vise versa. Master price closing over a line before you go any further.
(3) The best entry is one in which price doesn't come back and shove a red candle down your throat hole
(4) The larger the time period the better...any extreme where it is likely that you can set an average before price closes over your line in the sand.
(5) After:
1. a large CC.
2. the 3rd or 5th or 7th
wave
3. price does not close higher
4. price closes over a line that you believe to be S&R
just to name a few.
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newark18
- rank: 500+ posts
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MightyOne wrote:What if price closed higher and then closed into the previous candle? Based on my definition of S&R, S&R could have been anywhere between the OC of the first candle but now must be lower than the close of the second because if price closes over a line then it is not support.
OC = Open close?
MightyOne wrote: (2) Highest close & 2 candles back + vise versa. Master price closing over a line before you go any further.
At some point I assume you need to change the way it is combined. Start combining the highest high and two candle back. Then it hits a certain low and starts looking to move up, do you change it up then? In other words, at what point do you say, ?ok, now I need to combine lowest low and 2 candles back.??
MightyOne wrote: the 3rd or 5th or 7th
Can you explain?
MightyOne wrote: If your entry pattern is 1u, 1u, 2u, then support is below a 50% retracement. If your entry pattern is 1u, 1u, 3u, then support is below a 40% retracement.
Tell me if this is correct: When you place add 2Us (to a total of 4Us), the S&R line should be below 50% mark of point of original entry (entry at extreme) and point of 2U entry (which gets you to 4Us).
S&R line ? How far back do you look to determine the validity of an S&R line? I feel like you can go back as far as you want and the S&R line will still be significant. Am I seeing things that are not there? This is important to me as it can help fine-tune the way I draw my S&R lines. Or do you think it is more dynamic than that (look back only a few candles)?
My biggest problem is ?entry from extremes.? I am now focusing on weekly+ extremes. But do I need to wait for some sort of confirmation or price action to use these extremes? Or am I betting that it will bounce off these extremes as they normally do?
Sorry for all the questions.
Failure is an opportunity to learn.
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newark18
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What are people's thoughts here? The black line at 1.5106 is what I think to be a monthly S&R line. And the red line at 1.5000 is what I consider to be a weekly S&R line. The trend is bullish but price closed over a line which I believe to be a monthly S&R line. And is hitting a weekly support S&R line.
Failure is an opportunity to learn.
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