lukx zline trading log + cfabian p.35 + adaseb p.48

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sat Feb 27, 2010 7:41 pm

adaseb wrote:How do you label the X's and Y's?

Do they alternate when the candle stick color is the same. Such as when price was headed down for a few days on the daily, you had X then Y then X then Y.

I am confused how you labeled the X and Y during that short uptrend from Dec 29th.

Do you start with an X and if the following candlestick closes higher/lower than the preceeding then that is label Y unless the candlestick color is the same color as the preceding candlestick?



MightyOne wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:EUR/USD long

Exited early because of double top areas are normally reversals points
when I try to trade the break out :oops:


I do not understand your logic.

If a double top, according to your analysis, is a sign of a possible reversal then why go long at all?

If you do defy that analysis (because you are using another?) and go long then for what reason are you selling out early?
The reason cannot be the double top that you disregarded in the first place.


I have noticed that after the MoMo candle the price would go only to
the extreme of the MoMo candle then reverse. I have been "tricked"
a few times in the recent past with the false breakouts.

I felt there was still ample pips to be had before the reversal.


Bodies show the way...

Momo should unfold in an X-Y-X-Y pattern on some level...

Wicks show the way not (possible reversal) when, after momo, there is a breakout and price fails to close beyond the extreme (hedge).

I think that you may be using momo at the most basic level and on small charts (sub 4H charts) where this type of analysis begins to lose value.

If you did not have a trading account would you mentally exit for 19 pips or would you find some technical reason to exit?

How you would trade with paper charts and a pencil is how you should trade live.

Image


X: non-momentum

Y: Momentum

They should alternate...

Price Reaching: a slow upwards move with just enough momentum to satisfy short orders and vise versa.

X-X-Y is one of the price reaching patterns.

I forget when I talked about this, I believe it is somewhere in the NLA thread.

There are always more details that I can never get around to discussing because few if any understand the basics (also the reason I am not worried about sharing information ;))

You can think of the X in XYXY as giving traders just enough time to enter against the current without slaying the momentum.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Humble
rank: 500+ posts
rank: 500+ posts
Posts: 576
Joined: Fri Mar 20, 2009 10:29 am
Reputation: 0
Gender: Male

Postby Humble » Sun Feb 28, 2010 12:48 am

Thanks again MO.

Speaking of the NLA thread, I notice peeps still post there occasional (yesterday), but I have not been able to access the thread for months.

A difficulty with teaching (and learning) on a forum is that peeps will always come along and join in, that were not here at the start. Also on this forum it's a bit hard to know where the start is. They should give you (or a select few, es/pip and dragon come to mind) a "sticky" or a read only thread that only the author can post to. With Q & A and 3rd party charts in a separate thread.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

User avatar
blubbb
rank: 150+ posts
rank: 150+ posts
Posts: 219
Joined: Mon Sep 29, 2008 8:07 pm
Reputation: 0
Location: Europe
Gender: Male

Postby blubbb » Sun Feb 28, 2010 1:10 am

I agree, I cannot access the NLA thread either. The forum software and/or the server is at its limit with so many posts. Maybe it should be closed... or divided (I don't know whether this version of phpBB allows that).

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Feb 28, 2010 5:56 am

Humble wrote:Thanks again MO.

Speaking of the NLA thread, I notice peeps still post there occasional (yesterday), but I have not been able to access the thread for months.

A difficulty with teaching (and learning) on a forum is that peeps will always come along and join in, that were not here at the start. Also on this forum it's a bit hard to know where the start is. They should give you (or a select few, es/pip and dragon come to mind) a "sticky" or a read only thread that only the author can post to. With Q & A and 3rd party charts in a separate thread.


I am not here to save the world :wink:

The new guys can go babypip or something :lol:

aliassmith
rank: 1000+ posts
rank: 1000+ posts
Posts: 1667
Joined: Tue Jul 28, 2009 9:50 pm
Reputation: 21
Gender: Male

Postby aliassmith » Sun Feb 28, 2010 2:09 pm

MightyOne wrote:
aliassmith wrote:
MightyOne wrote:
aliassmith wrote:EUR/USD long

Exited early because of double top areas are normally reversals points
when I try to trade the break out :oops:


I do not understand your logic.

If a double top, according to your analysis, is a sign of a possible reversal then why go long at all?

If you do defy that analysis (because you are using another?) and go long then for what reason are you selling out early?
The reason cannot be the double top that you disregarded in the first place.


I have noticed that after the MoMo candle the price would go only to
the extreme of the MoMo candle then reverse. I have been "tricked"
a few times in the recent past with the false breakouts.

I felt there was still ample pips to be had before the reversal.


Bodies show the way...

Momo should unfold in an X-Y-X-Y pattern on some level...

Wicks show the way not (possible reversal) when, after momo, there is a breakout and price fails to close beyond the extreme (hedge).

I think that you may be using momo at the most basic level and on small charts (sub 4H charts) where this type of analysis begins to lose value.

If you did not have a trading account would you mentally exit for 19 pips or would you find some technical reason to exit?

How you would trade with paper charts and a pencil is how you should trade live.

Image



Thanks for your response. I see you always say that the zline logic
has little value on small timeframes. From my observations there are
very similar behaviors on small and long timeframes.

Funny you mention trading with pencil charts, that is what I started to do
a few days ago. :) Printing them and marking them with analysis.
Trade Your Way as Long as It Makes Money!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Sun Feb 28, 2010 6:26 pm

SMALL CHARTS:

Image

LARGE CHARTS:

Image

johny
rank: 50+ posts
rank: 50+ posts
Posts: 55
Joined: Thu Nov 19, 2009 11:53 am
Reputation: 0
Gender: Male

Postby johny » Sun Feb 28, 2010 9:20 pm

MightyOne wrote:SMALL CHARTS:

Image

LARGE CHARTS:

Image



:smt046

Hi MO, What is the secret behind your wit and wisdom?
Are you an avid reader?

- johny

Humble
rank: 500+ posts
rank: 500+ posts
Posts: 576
Joined: Fri Mar 20, 2009 10:29 am
Reputation: 0
Gender: Male

Postby Humble » Mon Mar 01, 2010 12:08 am

Strength is more clearly defined on a large t/f chart.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5251
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Mon Mar 01, 2010 3:07 am

johny wrote:
MightyOne wrote:SMALL CHARTS:

Image

LARGE CHARTS:

Image



:smt046

Hi MO, What is the secret behind your wit and wisdom?
Are you an avid reader?

- johny


TIME :wink:

User avatar
tmanbone
rank: 500+ posts
rank: 500+ posts
Posts: 723
Joined: Sun Nov 15, 2009 3:52 am
Reputation: 0
Gender: Male

Postby tmanbone » Mon Mar 01, 2010 3:27 am

MO it's obvious you're a natural, besides that fact how much time on average do you spend educating yourself on trading, say per day, per week? An estimate? In following your post here at Kreslik I've come to the conclusion that you are trying to get us to see the even ebb and flow, amongst, the smaller time frame, volatilty in the markets. I would also like to know your recommended reading list. Thank you sir for your time and contributions.

T
"The simplicity of the markets is it's greatest disguise"

T

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”