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IN-XS
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Postby IN-XS » Sat May 15, 2010 11:03 am

Thanks for the info guys!

Baco, your charts are great to look at and you got some huge gains there. Good job!

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Postby bacoazul » Sat May 15, 2010 11:32 am

dragon33 wrote:Drawing the lines by hand is very powerfull because you pay attention to with you drawed, if the lines are just there you can miss or pay not attention to it.

The open or 50% area of an H4 candle mostly act as S/R area on the lower frames. But it still is the place where price will make a continuation of previous trend at least to the extreme.

Baco just showed a nice picture of it and my previous chart of gu was the same.


IN-XS wrote:Thanks for the info guys!

Baco, your charts are great to look at and you got some huge gains there. Good job!


IN-XS wrote:Thanks for the info guys!

Baco, your charts are great to look at and you got some huge gains there. Good job!


Thankyou guys.

Everybody needs listen to Dragon, the best you can do is draw the
lines for yourself, he is totally right, the last indi i used was some
MZ indi, which is great, but most of the time it get me distracting
more than a beeing helpfull.
This is just my experience, but best indis to use are CC and clock.
Last edited by bacoazul on Sat May 15, 2010 11:48 am, edited 2 times in total.
These are my principles. If you don't like them, I have others.

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IN-XS
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Postby IN-XS » Sat May 15, 2010 11:43 am

You are right Baco I used to use the MZ indi aswell and it does blind you a bit. It is good to give you an initial idea of what to look for, but after that you do start to see them for yourself. Saying that though I still use the zline indi!

You are right about listening to Dragon, he has helped me a great deal and I always listen to Mightyone but never really understood until recently.

My recent problem was direction. I know about momo and how it shows direction, but I had a problem when price was making a new low and no momo was on 4H to show me price was going back up. Then I started looking a higher TF's and sure enough I could find a momo there to show me where price was going to go.

I mainly stuck to lower TF's and I think this was the problem. As Mo said you have got to see the bigger picture. Makes sence but its funny the way you choose to discard this information, when you have not fully grasped it.

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Postby bredin » Sat May 15, 2010 11:52 am

I think multi tf trading is an "information overload" and thus 'confusing' until you get a grip on it. Since its confusing the tendency is to ignore it- leading to the opposite problem, that being "I dont understand" which is in turn caused by a lack of information....

I love my brain. Its main function, however, appears to be the relentless pursuit of f*ing my life up :lol:

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Postby IN-XS » Sat May 15, 2010 11:57 am

Lol! I know what you mean Bredin, my brain has the same effect on me. After some severe brain punishment , things do start to become clearer though. You got to go through some tough times though.

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Postby IN-XS » Sat May 15, 2010 12:07 pm

By the way guys when you say "cover" when in a trade, what exactly do you mean?

1. Close trade and enter at better price
2. Close half your trade and open in opposite direction.
3. Close your complete trade and open in opposite direction

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Postby gfg1 » Sat May 15, 2010 12:46 pm

Totally agree with you on this. Charts became much clearer after worst day in a long time a week and a half ago. Went on full tilt in the morning. Came back in the afternoon and actually looked at the charts and what the 3 amigos (MO, dragon, and es/pip) had been saying for over a year and it hit home.

Even yesterday dragon repeated how to tell direction and that was totally forgotten.

This place is such a great classroom. TY guys

IN-XS wrote:Lol! I know what you mean Bredin, my brain has the same effect on me. After some severe brain punishment , things do start to become clearer though. You got to go through some tough times though.
Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO

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Postby JESGPY » Sat May 15, 2010 3:50 pm

dragon33 wrote:Drawing the lines by hand is very powerfull because you pay attention to with you drawed, if the lines are just there you can miss or pay not attention to it.

The open or 50% area of an H4 candle mostly act as S/R area on the lower frames. But it still is the place where price will make a continuation of previous trend at least to the extreme.

Baco just showed a nice picture of it and my previous chart of gu was the same.


Dragon. Concerning this coment:
"The open or 50% area of an H4 candle mostly act as S/R area on the lower frames. But it still is the place where price will make a continuation of previous trend at least to the extreme."

This is the way i have been looking inside 4h and 1h MZS.

4h MZ
Image

15m chart
Image

I look inside the 4h MZ for a 15m MZ. If there is one zone inside i consider that area by place to take the reversals. Most of the times that area holds perfectly and I can aim for the next 15m MZ for some "safe pips", if the PA is good i aim for 1h, 4h MZs.

Also. I ussualy wait for rat reversal formation to take the trade. On those areas I take the reversal on the previos candles low. or at the line, since I feel confident about that area holding.

hope this helps someone.

JUAN

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Postby cfabian » Sat May 15, 2010 5:17 pm

Really? maybe that's why it looks so clean and neat.
So, you just draw your fibs based on H4 and H1 then with same levels? and have your fibs setup to read the entry price and timeframe or do that manually?

The entry line al .33 level somewhat coincides with M15 breakouts.

Cheers

Manta wrote:
cfabian wrote:Manta, what indy you use for your lines? looks simpler and cleaner... really like it.

Manta wrote:Lukx, you see, it is still the same over and over again...

EDIT: of course some days are better, some days are worse, but all you need is some edge (I think this one is good enough). Then just stick to it, practice and trade day by day. Don't use too high leverage, rather use some kind of cushion money management (search MO's posts) to boost your percentage gains and you, your wife and your Aston Martin will be OK 8)


I don't use any indi, except my drunk head. The lines are fibo tool from metatrader with levels 0.0-0.333-1.0

Edit: Yes, there is semafor on my chart, but it is really not needed. I just simply like the circles with numbers :D I think it is good to have some funny stuff on your chart
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Postby prochargedmopar » Sat May 15, 2010 5:18 pm

JESGPY wrote:
dragon33 wrote:Drawing the lines by hand is very powerfull because you pay attention to with you drawed, if the lines are just there you can miss or pay not attention to it.

The open or 50% area of an H4 candle mostly act as S/R area on the lower frames. But it still is the place where price will make a continuation of previous trend at least to the extreme.

Baco just showed a nice picture of it and my previous chart of gu was the same.


Dragon. Concerning this coment:
"The open or 50% area of an H4 candle mostly act as S/R area on the lower frames. But it still is the place where price will make a continuation of previous trend at least to the extreme."

This is the way i have been looking inside 4h and 1h MZS.

4h MZ
Image

15m chart
Image

I look inside the 4h MZ for a 15m MZ. If there is one zone inside i consider that area by place to take the reversals. Most of the times that area holds perfectly and I can aim for the next 15m MZ for some "safe pips", if the PA is good i aim for 1h, 4h MZs.

Also. I ussualy wait for rat reversal formation to take the trade. On those areas I take the reversal on the previos candles low. or at the line, since I feel confident about that area holding.

hope this helps someone.

JUAN


Excellent description Juan,
I can only Imagine that area 1 would have been whipsaw city on m15 chart but area 2 would have been Sweet!!

Just an observation without seeing inside the candles with m15 but visualizing how they may have looked.
Higher TF definitely rules.

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