How to be a MOnster

[Mira]

Found this cool indi here: https://www.forexfactory.com/printthread.php?t=561522

It calculates the distance in % from current price to upper/lower extremes.. it looks like a multimeter, sometimes like a time and sales ( )

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I'm going to keep it on my charts for while..

[dojirock]

Mira, when you said Bullish Momentum eating up Bearish Momentum, you are 100 percent correct.
Let me ask you this, though... where is that bearish momentum clue you speak of? I have a feeling were looking in different places on the chart.

doji

Hi Doji

Your question scares me a bit because I don't know where I'm wrong now

Btw the yellow line represents the bearish momentum I was looking at, price closed below the previous extreme.


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Thanks for your help Doji!

Nope, I was wrong... you were looking at the same bearish Momentum... it just wasnt drawn on previous chart... nice work.

doji

[MightyOne]

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[Mira]

Nope, I was wrong... you were looking at the same bearish Momentum... it just wasnt drawn on previous chart... nice work.
doji

No prob Doji
Thank you much for helping!

[Mira]

for_Mira.png

Mmm...

Sure I'm not seeing right.. ok, where BOs come from, but there is more and probably I'm looking too hard
They look like a sort of panoramic view of a close over the previous extreme.

But I'm not sure because I can't define "previous" precisely without time..

Am I Iost?

[MightyOne]

for_Mira.png

Mmm...

Sure I'm not seeing right.. ok, where BOs come from, but there is more and probably I'm looking too hard
They look like a sort of panoramic view of a close over the previous extreme.

But I'm not sure because I can't define "previous" precisely without time..

Am I Iost?

Better?
Where did price come from and where did price go?
What is low?
What is high?
Where would high/low take profit if they are accumulating?

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[MightyOne]

Open up your candle chart, expand your chart to 1 shy of maximum width, and take the time to put your pointer on each of the closing prices.

Once you are finished, switch over to a bar chart and just stare at the closes.

Notice that your eyes scan through the empty spaces and focus on price levels.

Your candle charts might be pretty but they are blinding you.

[Mira]

Where would high/low take profit if they are accumulating?

If they are accumulating and they are shorting from the top they would take partial profits in the middle, then at the low waiting for a retrace..

If i'm not wrong

[Mira]

Open up your candle chart, expand your chart to 1 shy of maximum width, and take the time to put your pointer on each of the closing prices.

Once you are finished, switch over to a bar chart and just stare at the closes.

Notice that your eyes scan through the empty spaces and focus on price levels.

Your candle charts might be pretty but they are blinding you.

Thanks MO, i'm following.. i don't know if it's the Truth about the close above/below with candlesticks, and if (it's just a sensation) it is somehow correlated with 15* too, but i'm really trying to SEE.

(all the process from closes to ovals)

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"... stare at the closes.", do you mean big chart closes?
"... empty spaces ..." What do you mean with empty spaces'?

I'm sorry for all my questions MO, thank you for your patience and the help you are giving!

[MightyOne]

...

"... stare at the closes.", do you mean big chart closes?
"... empty spaces ..." What do you mean with empty spaces'?

I'm sorry for all my questions MO, thank you for your patience and the help you are giving!

One pattern that is often used is called a 'little devil' and it is a 'head and horns' pattern.

I am looking for closes & rejections in a tight area as well as for the areas to be evenly spaced.

I need at least two closes in a 'tight' area, or a rejection and a close, before I can consider it a significant price level.

All that I was hoping that you would see is that you can not see as well on candle charts...

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