How to be a MOnster

[Mira]

Feel the fake you, the one who is sitting with a small profit first, and then taking a loss.
Wait for a BDP and trade in that direction.

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[Mira]

The process is simple and clear, but discretionary because a "close over" should be evaluated by the trader, as for zlines.


(The big pic shows a close under, this will be helpfull later)

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Lines at the origin of old/new momentum and approaching (green) momo close.

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1) First close below + retest and drop
2) Fat Cat S/R
3) Z-break
4) Green Momo zline // End of Rope

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[Mr. Hyde]

The process is simple and clear, but discretionary because a "close over" should be evaluated by the trader, as for zlines.


(The big pic shows a close under, this will be helpfull later)
IMG_2849.PNG

Lines at the origin of old/new momentum and approaching (green) momo close.

IMG_2848.PNG

1) First close below + retest and drop
2) Fat Cat S/R
3) Z-break
4) Green Momo zline // End of Rope

IMG_2852.PNG

Damn nice charts

[Mira]

Ok, yesterday I took some shorts on UJ.
Everything was going good until, at the red line, I stacked more and finally I gave all back

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IMG_2856.PNG (72.07 KiB) Viewed 2738 times

I know I had a 50% against me, price wasn't closing under and i insisted.. at the end news volatility shot me down.

TRADE WHAT YOU SEE (not what you'd like to see )


BTW it takes time to be a good chart reader so now I want to focus on space.. I still didn't try the real power of a good money management BUT I'm sure that it can be the best personal assistant to my ideas.
Knowing the true value of an idea and giving it the right money to do its best is the key, I fully agree with MO.



Ah, about chart reading I'm trying to follow MO's suggestions for newbies, so now I'll try to keep a 2 SMA (typical price) on a bar chart.
I thought about it and I feel like it's a good way to see what price is doing without the damn candlesticks illusion.. yes, because I always find myself focusing on "right" or "wrong" lines, opens, closes, midpoints.. too many datas
A line is a line, and along with patterns also breakouts exist!

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Angles look easier to me.. in this way I take them to see confluence and not as trigger line.
Zlines are LIS, so you could pick what you like and draw them on it..

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CAN YOU SEE IT?

[nat]

In the past Mo has said he prefers to get out at the bottom of a large candle. In your case on the hourly and m30 it wouldve worked and gave you most of the down move. Your charts have greatly improved over the past few months keep it up

[Mira]

In the past Mo has said he prefers to get out at the bottom of a large candle. In your case on the hourly and m30 it wouldve worked and gave you most of the down move. Your charts have greatly improved over the past few months keep it up

Thank you much Nat! I'm trying to do by best and to keep my mind open to the knowledge

You're right, price went too far too fast and I should have liquidate at the bottom, where I had a nice buy opportunity too

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[Mira]

It's Sunday and everybody is tired BUT my mind is still at work

It's always the same thing but every time it changes, what I'm seeing is a trade took by traders not considering a bigger zline/big picture or whatever makes the price turn.
If I try to go beyond the candlestick pattern I see people buying and selling over tops and bottoms, I can say that because of a little close over the breakout line + a push in direction of profit (future loss), and taking a loss.

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It's simple! My question is:

is a large move dictated by more people buying/selling in the wrong direction OR more people zeroed on the bigger tf?



Ps. I know I don't need to go so long back with lines as I did, I did it because line chart isn't so fast as candlestick.
Fortunately time/price is fractal

[Mr. Hyde]

Ok, yesterday I took some shorts on UJ.
Everything was going good until, at the red line, I stacked more and finally I gave all back

IMG_2855.PNG

IMG_2856.PNG

I know I had a 50% against me, price wasn't closing under and i insisted.. at the end news volatility shot me down.

TRADE WHAT YOU SEE (not what you'd like to see )


BTW it takes time to be a good chart reader so now I want to focus on space.. I still didn't try the real power of a good money management BUT I'm sure that it can be the best personal assistant to my ideas.
Knowing the true value of an idea and giving it the right money to do its best is the key, I fully agree with MO.



Ah, about chart reading I'm trying to follow MO's suggestions for newbies, so now I'll try to keep a 2 SMA (typical price) on a bar chart.
I thought about it and I feel like it's a good way to see what price is doing without the damn candlesticks illusion.. yes, because I always find myself focusing on "right" or "wrong" lines, opens, closes, midpoints.. too many datas
A line is a line, and along with patterns also breakouts exist!

IMG_2862.PNG

Angles look easier to me.. in this way I take them to see confluence and not as trigger line.
Zlines are LIS, so you could pick what you like and draw them on it..

IMG_2871.PNG

CAN YOU SEE IT?

110.50 level looks like strong support. Could see a pullback, then look for a sell, then a close under 110, then hold to 106, 104.50 and/or 101.50.

On the daily chart the red line is MN support and the blue ones are daily with the fibo on a weekly.

[Mira]

Ok, yesterday I took some shorts on UJ.
Everything was going good until, at the red line, I stacked more and finally I gave all back

IMG_2855.PNG

IMG_2856.PNG

I know I had a 50% against me, price wasn't closing under and i insisted.. at the end news volatility shot me down.

TRADE WHAT YOU SEE (not what you'd like to see )


BTW it takes time to be a good chart reader so now I want to focus on space.. I still didn't try the real power of a good money management BUT I'm sure that it can be the best personal assistant to my ideas.
Knowing the true value of an idea and giving it the right money to do its best is the key, I fully agree with MO.



Ah, about chart reading I'm trying to follow MO's suggestions for newbies, so now I'll try to keep a 2 SMA (typical price) on a bar chart.
I thought about it and I feel like it's a good way to see what price is doing without the damn candlesticks illusion.. yes, because I always find myself focusing on "right" or "wrong" lines, opens, closes, midpoints.. too many datas
A line is a line, and along with patterns also breakouts exist!

IMG_2862.PNG

Angles look easier to me.. in this way I take them to see confluence and not as trigger line.
Zlines are LIS, so you could pick what you like and draw them on it..

IMG_2871.PNG

CAN YOU SEE IT?

110.50 level looks like strong support. Could see a pullback, then look for a sell, then a close under 110, then hold to 106, 104.50 and/or 101.50.

On the daily chart the red line is MN support and the blue ones are daily with the fibo on a weekly.

Hi Mr. Hyde!

I'm looking at the same lines on H4, if price is unable to close under my line I'll look for a first buy

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[Mira]

Last time, when Doji gave us some teachings about momentum, i took his words as a confirmation of what I was seeing.. but I was missing a point: WHY he commented my chart talking about fractals?
I was seeing new momentum letting old momentum at its back, but every time I needed an "at the moment" confirmation.

LOL! It's only now that I'm grasping his words.

What differs between the gray boxes and the red box?

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Thank you much for the shared knowledge Doji
I was going back in the chart but I wasn't SEEING what was happening at the Moment... we'll have momentum approaching momentum, and it's scary