How to be a MOnster

[Mira]

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I just look at it like this:
1) because of the prev. overlapping bars (sideways vs trendy PA) and the range of the bar, this is a take profit area.
2) a second close in an area forms a tradable price level
3) this bar is a breakout, it is important to note which direction price is moving away from a price level.
4) price returned to the micro take profit level of '3', on the prev. bar, bounced off of the price level and then made a higher close.
5) wicks in the direction of loss, the closes start to form a higher price level.
6) price is breaking up and away from the price level. While the close of this bar was weak, bar '3' was your first breakout, bar '4' was your strongest close higher, and this bar closed in the same area.
7) price fell away from 'something', take note.
8) price fell away from 'something' & this is a clear break of an uptrend line
9) In which direction do you think price is moving away from a price level?
?) someone thinks that price is going up...

You know, just go through the bars and write a story.

If price is not trending and you see a bar like '7' then you will be more inclined to buy at lower prices (where did it fall to?) instead of high breakouts.
If you start to notice strength then you switch over to paying higher prices.

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Thank you for your patience MO.. your eyes can see incredible things.

And now laugh for me

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[Mira]

I don't know why sometimes things work out and sometimes not.. inexperience i guess.
Focusing on 'setups' is dangerous, it helps to find opportunities quickly but trying to SEE the story is necessary.
I need to keep it in my mind.


I Have A Dream pt. 2

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[tom7ak]

Your brain is going 120 miles an hour again, is it?:)

[MightyOne]

Every pattern is a potential platform and every horizontal line is a potential trigger, but what is the idea?

Are you trading the daily price level or maybe the H4 BDP+WDL?

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A pattern is not a trade any more than a horizontal line is a trigger.
WHAT IS THE PLAN, STAN?
What position sizing are you going to attack it with?
How many lines are dedicated to it?
How many angles (periods) are going to approach it?
How fast do you need to accumulate? In which period is the idea?
How fast are you going to accumulate? How skillful/greedy are you?

Where are you? What do you want? Where are you going?
Standing on the beach is a good start, but you have to swim with the sharks until you find your wave.

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[MightyOne]

Your brain is going 120 miles an hour again, is it?:)

Is this the part where you get mad because you just don't see it? I hope that it is not that movie, I've seen it a hundred times.

Price does the same thing on almost every price chart and period be it corn, cattle, gold, stock, or currency...
you are going to see it, keep the faith.

[tom7ak]

No MO, on a contrary, Im glad she SEEs it.

[tom7ak]

I might be later though, if i do sit down and try to figure it out:)

[tom7ak]

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I am looking at GBPJPY again. Mira can u remember the chart i posted, with long entry made by Brzoza, and my attempts to short it at M15 zone? He was spot on going long there.

[Mira]

Every pattern is a potential platform and every horizontal line is a potential trigger, but what is the idea?

Are you trading the daily price level or maybe the H4 BDP+WDL?

USDJPYH1.png

A pattern is not a trade any more than a horizontal line is a trigger.
WHAT IS THE PLAN, STAN?
What position sizing are you going to attack it with?
How many lines are dedicated to it?
How many angles (periods) are going to approach it?
How fast do you need to accumulate? In which period is the idea?
How fast are you going to accumulate? How skillful/greedy are you?

Where are you? What do you want? Where are you going?
Standing on the beach is a good start, but you have to swim with the sharks until you find your wave.



3for_mira.png

Based on that chart I would have been long after that breakout
Ok price was high and I'd have tried to reverse but..

[Mira]

GBPJPYM15.pngI am looking at GBPJPY again. Mira can u remember the chart i posted, with long entry made by Brzoza, and my attempts to short it at M15 zone? He was spot on going long there.

Mmm.. Yes Tom I remember..
What do you mean?

Thanks