lukx zline trading log + cfabian p.35 + adaseb p.48
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MO are you talking about the MOMO pattern?
lesson 1: body in the direction of the gain but it is very obvious.
perhaps are your talking about momentum and how we have to look it??
Momentum pattern is as follows:
+x, +y, +x, +y, etc.
If +x, +y then -x, -z is needed to reverse.
+x, +y = candle in the direction of profit.
lesson 1: body in the direction of the gain but it is very obvious.
perhaps are your talking about momentum and how we have to look it??
Momentum pattern is as follows:
+x, +y, +x, +y, etc.
If +x, +y then -x, -z is needed to reverse.
+x, +y = candle in the direction of profit.
Last edited by vane on Mon Jan 25, 2010 1:58 pm, edited 2 times in total.
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vane wrote:MO are you talking about the MOMO pattern?
lesson 1: body in the direction of the gain but it is very obvious.
perhaps are your talking about momentum and how we have to look it??
Momentum pattern is as follows:
+x, +y, +x, +y, etc.
If +x, +y then -x, -z is needed to reverse.
+x, +y = candle in the direction of profit.
Of all the things I thought about this chart, the 'pattern' escaped me. well done vane, I see it differently now.
My own thoughts: we see only bodies on the chart, so bodies are the ones that count. we see a first strong bear body, and once price closes below Highest Low - we sell. oh, and the angle at which the price starts to drop as well, is more intense than the angle at which it was going up.
MO? what is it then?
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