lukx zline trading log + cfabian p.35 + adaseb p.48
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- IN-XS
- rank: 150+ posts
- Posts: 304
- Joined: Tue Jan 27, 2009 12:00 am
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- Location: UK
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Direction seems to be the only thing catching me out, time and time again. EJ 4H I saw a short momo candle, so caught a couple of nice trades to the top of this candle, as this point I was expecting it to go short and it did, but then it turned against me and hit my stop, is there something I am doing wrong?
IN-XS wrote:Direction seems to be the only thing catching me out, time and time again. EJ 4H I saw a short momo candle, so caught a couple of nice trades to the top of this candle, as this point I was expecting it to go short and it did, but then it turned against me and hit my stop, is there something I am doing wrong?
To be honest the last short i see on
H4 is this:
And i will be looking for longs because of this:
Remember, this is just my opinion, i think you need
a little more patience if you are thinking on trade
from the H4
These are my principles. If you don't like them, I have others.
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IN-XS wrote:Price respected the momo this time, but it didn't before. How do you know which momo valid? I just cant seem to get my head around this.
Well i think you are too much focused on the
2x bar and not the move itself.
MO always say, draw 1 resistance and 1
support line at a time, so if your looking
the 4H a your big TF, you need to draw those
2 lines and see what happens there.
In the short i mentioned, i saw a support being
break it, and is break it by a MOMO, so it
becomes a point of interest for me, thats how i
see it
These are my principles. If you don't like them, I have others.
IN-XS wrote:Thanks Baco,
I understand better now, but when you say I think your too focused on 2x bar and not the move itself, that bit I dont understand. I thought Momo was 2x bar?
Oh boy, your lucky that MO is not around hehe,
i really dont know how to explain this, i wish
es/pip or dragon could answer to you.
Hmm, you could try focusing more on momentum,
maybe the CC (custom candles) can help you
to see momentum better, one thing i learned here
is that you can't simply take a trade because you
see a 2x bar, thats in NOT what MO is trying to
teach us here, and again, draw your support and
resistance line on your bigger TF, then look for
momentum.
Sorry im a really really bad teacher, but i
just can't explain more, don't know how to ay it
in spanish, so trying to tell you in english is
even worst.
I just hope no to confuse you
Maybe this cn help you
These are my principles. If you don't like them, I have others.
IN-XS, you are trading short at an extreme price level. price already went 700 pips down...that means it is getting more and more dangerous to go short because direction will change and all the traders who are holding their short-profits want to get zlined
try to get entries around extremes in the opposite-direction!
try to get entries around extremes in the opposite-direction!
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