How to be a MOnster

[Mira]

I was trying to think of the other re-entry method I use most! Brain fart!

It's to look for any Z-lines. Obviously if you have drilled it down to the lower time frames, they may likely be less robust but they will normally still hold up, especially if they are backed by a fib-map, doubly so if you've got a 50-line level.

Thank Lem!

It’s strange because this is a doubt that I had not so long ago..

I mean, if I’m long from a pattern then I’ll be “safe” only until I reach the first supply/opposite pattern.
Waiting for a breakout in direction of profit would be guessing that price will continue in that direction.

[LeMercenaire]

I was trying to think of the other re-entry method I use most! Brain fart!

It's to look for any Z-lines. Obviously if you have drilled it down to the lower time frames, they may likely be less robust but they will normally still hold up, especially if they are backed by a fib-map, doubly so if you've got a 50-line level.

Thank Lem!

It’s strange because this is a doubt that I had not so long ago..

I mean, if I’m long from a pattern then I’ll be “safe” only until I reach the first supply/opposite pattern.
Waiting for a breakout in direction of profit would be guessing that price will continue in that direction.

There's something that most retail traders don't realise. They see an area marked "supply" above and think that 'Cool, I'll wait till price goes all the way up there and then I'll get in on the rebound.'

Then price busts through and they're like, 'wtf! Why did that not come back off that?'

Well, what they don't get is that price doesn't come back off these areas, it is sucked TOWARD them.

So in effect, you are waisting a huge opportunity to get in on the move as it goes up to the zone.

[Mira]

I was trying to think of the other re-entry method I use most! Brain fart!

It's to look for any Z-lines. Obviously if you have drilled it down to the lower time frames, they may likely be less robust but they will normally still hold up, especially if they are backed by a fib-map, doubly so if you've got a 50-line level.

Thank Lem!

It’s strange because this is a doubt that I had not so long ago..

I mean, if I’m long from a pattern then I’ll be “safe” only until I reach the first supply/opposite pattern.
Waiting for a breakout in direction of profit would be guessing that price will continue in that direction.

There's something that most retail traders don't realise. They see an area marked "supply" above and think that 'Cool, I'll wait till price goes all the way up there and then I'll get in on the rebound.'

Then price busts through and they're like, 'wtf! Why did that not come back off that?'

Well, what they don't get is that price doesn't come back off these areas, it is sucked TOWARD them.

So in effect, you are waisting a huge opportunity to get in on the move as it goes up to the zone.

Mmm I’m not getting it.. isn’t this in contrast with the idea of taking profit and re-entering?

[LeMercenaire]

Thank Lem!

It’s strange because this is a doubt that I had not so long ago..

I mean, if I’m long from a pattern then I’ll be “safe” only until I reach the first supply/opposite pattern.
Waiting for a breakout in direction of profit would be guessing that price will continue in that direction.

There's something that most retail traders don't realise. They see an area marked "supply" above and think that 'Cool, I'll wait till price goes all the way up there and then I'll get in on the rebound.'

Then price busts through and they're like, 'wtf! Why did that not come back off that?'

Well, what they don't get is that price doesn't come back off these areas, it is sucked TOWARD them.

So in effect, you are waisting a huge opportunity to get in on the move as it goes up to the zone.

Mmm I’m not getting it.. isn’t this in contrast with the idea of taking profit and re-entering?

No, no. We're saying the same thing. I was confirming what you were saying about being "safe" till price reaches a Supply Zone for instance.

Most retail think they are "unsure" until price reaches a zone, whereas it's when price reaches a zone that it can actually be uncertain. It may turn (and usually will) but it may blow through. All that is sure is that it'll do SOMETHING

That's why when price reaches an S+D Zone you are trading a reaction away from that zone, often with a retest and not entering as price initially crosses a line.

Sorry, I didn't mean to confuse things.

[Mira]

Closed the long at the blue line aaand, no pullback.
I was expecting a joke like this but no so fast

B1080C25-4FCE-4165-A4FD-1C42E2D21CD3.png (69.8 KiB) Viewed 2706 times

[Mr. D]

Hi all,

With a permission of TS, here is my /ES mini (SP500) trade, using TRO and MO ideas.

Shorted at 2746 after price went over, expecting it to penetrate the z-lines of the Momo candle, in particular PP at 2732. Exited at 2739-40 once the bar reached the 30EMA. Can't post the screenshots at the moment ;-(

Eager to learn more. Suggestions are welcome.

Green pips!

[LeMercenaire]

Hi all,

With a permission of TS, here is my /ES mini (SP500) trade, using TRO and MO ideas.

Shorted at 2746 after price went over, expecting it to penetrate the z-lines of the Momo candle, in particular PP at 2732. Exited at 2739-40 once the bar reached the 30EMA. Can post the screenshots at the moment ;-(

Eager to learn more. Suggestions are welcome.

Green pips!

That was a nice level. Down on the lower tf (m5) you got a nice double touch into the Short.

SPXUSD.cH1uponthehigher24thOct18crop.png (35.74 KiB) Viewed 2670 times

SPXUSD.cM5asshortinfo24thOct18crop.png (35.36 KiB) Viewed 2670 times

S&Pmovedon24thOct18crop.png (64.63 KiB) Viewed 2670 times

With some additional info, you can see clearly where you'd have had your area of interest as this moved on...

S&Pmovedon24thOct18cropDOTS.png (68.04 KiB) Viewed 2670 times

I'm going to have this at the top of my Watch-List today, paying particular attention around the US Open, as my idea is to get in Short once this reaction climb has had its fill.

For the bigger picture, 2680 is a major possibility if it does go down off this move up and drop through this sideways action, then with the Big Hitters waiting to buy those lows, shorting into that strength is the way to play it.

Once the Gorillas enter the game however, all gloves will be off.

[Mr. D]

Hi Lem,

You are very kind and helpful! Nice pics. When I grow up, I wanna be like you

On the last pic, how are the dots formed? An indicator of sorts?

Added short at 2718 with the goal of 2680.

Regards,

[LeMercenaire]

[quote="Mr. D"]Hi Lem,

You are very kind and helpful! Nice pics. When I grow up, I wanna be like you

On the last pic, how are the dots formed? An indicator of sorts?

Added short at 2718 with the goal of 2680.

Regards,[/quote]

Lol. If you ever see me grow up, can you let me know? I can't be having that!

The DOTS doo-dah is a feature of my second main broker's online platform.

I am liking and using it more and more. Suits my methods.

[Mr. D]

Let's stay forever young

Saw a reversal pattern on SP500 at 2728, scalping with the goal of 2745.

What else do you trade beside SP500 and DAX of the same nature?

Lol. If you ever see me grow up, can you let me know? I can't be having that!

The DOTS doo-dah is a feature of my second main broker's online platform.

I am liking and using it more and more. Suits my methods.