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

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bredin
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Postby bredin » Fri May 21, 2010 5:33 am

1) They are both

a) larger in body than the preceding candle(s) by a significant amount (~2x+)
b) close beyond the extreme of the preceding candle(s)

and 2)

check my sig for a Custom Candle indi.

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forexxx
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Postby forexxx » Fri May 21, 2010 5:48 am

Thanks Bredin.

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pablo101
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Postby pablo101 » Fri May 21, 2010 8:50 am

Hi guys, I haven't been posting for a while, I've been concentrating on live trading and doing much better than before.

Here's my latest out of 4 similar trades this week (btw I doing this part time)

Image

I just want to say that recently, I'm seeing the charts differently but in a positive way. I'm not 100% there yet (timing still stinks!) but I can almost imagine trades that travels gazillions pips daily. It's a good feeling to finally be getting somewhere because half year back I was happy with 20 pips a day (WTF!).

[glow=red]SAID MANY TIMES BUT I NEED TO SAY AGAIN, A BIG THANK YOU TO ....
[/glow]


Kreslik website, MO for zlines concept, ES/PIP and Dragon for you wicked charts and fellow kreslik traders who have helped me along the way, thanks everyone for their past and continuing support, this is the best trading site ever!

Ahhh, last but not least a big thanks to TRO for continually posting this statement by H.readon which cements everything for me.

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newark18
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Postby newark18 » Fri May 21, 2010 10:22 am

Pablo, congrats buddy! Keep it up and you'll be free in no time.
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Postby spa » Fri May 21, 2010 12:09 pm

my day so far... after the losses the EJ and Eu presented some long opportunities but i managed to miss them..
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Image
Image

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forexxx
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Postby forexxx » Fri May 21, 2010 1:15 pm

Hi guys,

In the chart below, I have circled two candles which I believe represent MOMO. Based upon Bredin's definition of MOMO candles

[highlight=red]"1) They are both

a) larger in body than the preceding candle(s) by a significant amount (~2x+)
b) close beyond the extreme of the preceding candle(s)"[/highlight]


1. Have I selected the proper candles to determine direction?

2. Am I not seeing some other significant momo candles?

Thanks

Danny.
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forexxx
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Postby forexxx » Fri May 21, 2010 1:35 pm

I wanted to post this one aswell.

1. Where I am uncertain about the selections is: how far or near should I be selecting momo candles (from the most current candle): such that the ones selected remain significant to future PA

Thanks
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Lijing
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Postby Lijing » Fri May 21, 2010 7:57 pm

Image
Image

:smt039
In this situation I thought I saw momo buildup. Also h1 closed bigger than the previous one. But in hindsight I think that I should not have entered because h4 just closed with a bigger red candle? Dragon, what do you think?

(but I also had a winner today :))

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Postby jarnapal » Fri May 21, 2010 8:19 pm

Lijing wrote:Image
Image

:smt039
In this situation I thought I saw momo buildup. Also h1 closed bigger than the previous one. But in hindsight I think that I should not have entered because h4 just closed with a bigger red candle? Dragon, what do you think?

(but I also had a winner today :))


If you had used higher tf you would have seen something like this. Sorry for bad image quality I messed it up by saving it as jpg

Image

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adaseb
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Postby adaseb » Fri May 21, 2010 8:25 pm

Lijing wrote:Image
Image

:smt039
In this situation I thought I saw momo buildup. Also h1 closed bigger than the previous one. But in hindsight I think that I should not have entered because h4 just closed with a bigger red candle? Dragon, what do you think?

(but I also had a winner today :))


In that area where you went long, it had a short setup on the H1.

Right above you there was a large bearish H4 MZ and it was coming down on high momentum. After it made that large H1 candle the low of the H1 touched the Long H4 MZ, hence looked like it wasn't ideal to short in that area because the risk-reward ratio would be small.

However when price reached the 50% of the H4 Long MZ it went up from there.

So you just entered a bit too early long.

Basically in the area where you entered I wouldn't enter long or short because its hard to tell where it might go.

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