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

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gfg1
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Postby gfg1 » Mon Jun 14, 2010 3:43 pm

Once again thanks dragon for the great words of wisdom.


dragon33 wrote:
scheeco wrote:
scheeco wrote:
dragon33 wrote:
scheeco wrote:Watching this pair...but doubting my analysis again.
So on H4 TMF looks promising as price is moving to a previous H4 zone (pinkish rectangle) that has not been zlined.
Also a sema has formed in the H4 zone.
Image

Dropping down to M15 I am waiting for a 3Sema to form to confirm my analysis.
Now I am waiting for the first other coloured candle as per Dragon33's entries and then will enter using a RAT entry.


Image

However, there is a big H1 MOMO candle prior to the 3 SEMA on the M15 chart.. so will wait for another hour to see if MOMO stalls.
This is constantly my predicament as I am not sure where to go from here.
If the next H1 candle is smaller then MOMO H1 candle - do I then enter per RAT rules? Or do I wait until I have a confirmed RED H1 candle?

This part - just before the trade confuses me.
Could someone offer some insight as to what I should focus on?
Thank you!
Wait for confirmation.
After momo H1 you do not trade against it!!!
You need price action in the other directions and confimation price is holding downwards.

This is the difficult part for most people choose one side. If you choose to sell then you have to wait and this could lead to not trading at all today.

If you think in both directions ALWAYS trade WITH momo


Thanks Dragon and Pablo...
so considering the screenshots, what should have been my action?
1) - To wait for another H1 candle to close and see if price is retracing .
(What then would indicate price is retracing? H1 candle closing in other colour below previous candle 50% level?)

or

2) - Go long after the H1 MOMO candle closed. But I am not sure what would be entry trigger in this case.


Dragon, considering the chart below, is this enough evidence of price retracing?
The H1 bear candle closed below the previous H1 MOMO bull candle, so looking for a short now at 1.22539 ( 50% LEVEL).
Image


There is still no momo down, just almost the same bodysize. Up down. The mainchart is up H4 big momo.

Look to my picture. As long as you don't see momo down you only buy at the open and 50% areas of previous H1 candles.

If a certain area holds by not closing above a line you start selling but always compare the bodysizes. They tell you a lot!!!
:smt038 :smt038 :smt038
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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dragon33
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Postby dragon33 » Mon Jun 14, 2010 10:10 pm

rushN4 wrote:
dragon33 wrote:
scheeco wrote:
dragon33 wrote:
scheeco wrote:Watching this pair...but doubting my analysis again.
So on H4 TMF looks promising as price is moving to a previous H4 zone (pinkish rectangle) that has not been zlined.
Also a sema has formed in the H4 zone.
Image

Dropping down to M15 I am waiting for a 3Sema to form to confirm my analysis.
Now I am waiting for the first other coloured candle as per Dragon33's entries and then will enter using a RAT entry.


Image

However, there is a big H1 MOMO candle prior to the 3 SEMA on the M15 chart.. so will wait for another hour to see if MOMO stalls.
This is constantly my predicament as I am not sure where to go from here.
If the next H1 candle is smaller then MOMO H1 candle - do I then enter per RAT rules? Or do I wait until I have a confirmed RED H1 candle?

This part - just before the trade confuses me.
Could someone offer some insight as to what I should focus on?
Thank you!
Wait for confirmation.
After momo H1 you do not trade against it!!!
You need price action in the other directions and confimation price is holding downwards.

This is the difficult part for most people choose one side. If you choose to sell then you have to wait and this could lead to not trading at all today.

If you think in both directions ALWAYS trade WITH momo


Thanks Dragon and Pablo...
so considering the screenshots, what should have been my action?
1) - To wait for another H1 candle to close and see if price is retracing .
(What then would indicate price is retracing? H1 candle closing in other colour below previous candle 50% level?)

or

2) - Go long after the H1 MOMO candle closed. But I am not sure what would be entry trigger in this case.

Image




thank you dragon for showing us new information..

lets say the current candle had been closed on your pic..would you now look for a sell at the 100 level (if hold area) with a 15m rat trade?
(with or without candel color of h1) ....and target the drawn 1h 50 level?


If that candle closed right there i would buy with rat entry simple because price is failing to make new lows. The next H4 zone is a bit higher as previous high and all the signs are in buy.

Lets assume price allready hit a zeroline then yes i would look for sell if price fails to make new high. I do not really target but i always watch priceaction around those areas.
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Postby newschool » Tue Jun 15, 2010 2:23 am

Jalarupa, how come you see your entry/exit triangles on the chart? Are you using a script to close positions?

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Postby pablo101 » Tue Jun 15, 2010 2:42 am

newschool wrote:Jalarupa, how come you see your entry/exit triangles on the chart? Are you using a script to close positions?


newschool, the mt4 indi is in blubbbs thread called "blubbb show orders". Very cool tool! :)

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Postby Pro Trader » Tue Jun 15, 2010 6:14 am

Is anyone looking at this on EJ?

Price coming off a H4 MZ but was having trouble breaking through a zline on H1. It has since dropped through this level but was there no trade because there wasn't any momo on H1?

Would we now be looking for a H1 red momo to close then take a short if price comes back to a zline within this red momo?

H4

Image


H1

Image

Potential closed momo on H1

Image

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Postby jarnapal » Tue Jun 15, 2010 6:22 am

Got in on GU. Targeting daily 50% if enough momentum then daily zeroline

Right now price stuck at daily pivot ?

*edit. Was that fake move down ? Anyway closed my shorts and prepared to move up.

Image

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Postby scheeco » Tue Jun 15, 2010 9:52 am

Took this one this morning:
This was my thought process:
Probability Checkboxes:
a) Price in H4 and H1 zones (defined by MOMO candles)
b) Sema confirmation in H4 / H1 zone on M15 chart
c) Close of first other colour M15 candle

All these were checked but noticed the huge SHORT MOMO in the overlay (circled in yellow) so I thought based on yesterday that I am waiting for the next H1 candle to close before making a decision.
The next BLUE H1 closed below the 50% level of the RED MOMO H1 candle so failed to close higher therefor I thought a SHORT would have been safe.(I think this part of my analysis as just crap!)
However I did take 9 pips ...entered short at 50% level of RED H1 MOMO candle @ 1.21949.
Image

In retorspect I am thinking the following... while I did everything right at this point - the fault in my analysis was two fold:
1) Price failed to close lower ( below RED H1 MOMO candle) as MOMO was down - that would indicate that price may start reversing now. However the opposite would be true if MOMO was upwards and price failed to close higher, than a reversal may be possible.

2) A double bottom formed. I am a little unsure as to its significance and when tp pay attention to them and what they may imply. But looking at some charts it seems that they are a good indication of reversal coming our way.

Are these retrospective analysis on the right track?

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Postby Jalarupa » Tue Jun 15, 2010 10:06 am

newschool wrote:Jalarupa, how come you see your entry/exit triangles on the chart? Are you using a script to close positions?


Hey newschool,

No, not using a script... I do cross reference with the EU on my other monitor, it acts as a leading indicator for the EJ as far as I can see... When I get confirmations on the EU I base my entry exits on that... Has saved me from possible annihilation this morning already.... :shock:

Image

Don't know if that answers your question... What do you see regarding my entries and exits?

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Postby Jalarupa » Tue Jun 15, 2010 10:14 am

pablo101 wrote:
newschool wrote:Jalarupa, how come you see your entry/exit triangles on the chart? Are you using a script to close positions?


newschool, the mt4 indi is in blubbbs thread called "blubbb show orders". Very cool tool! :)


:oops: lol...

Yeah its the best thing since sliced bread... Helps me with my TP targets... :D

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Postby dragon33 » Tue Jun 15, 2010 12:45 pm

scheeco wrote:Took this one this morning:
This was my thought process:
Probability Checkboxes:
a) Price in H4 and H1 zones (defined by MOMO candles)
b) Sema confirmation in H4 / H1 zone on M15 chart
c) Close of first other colour M15 candle

All these were checked but noticed the huge SHORT MOMO in the overlay (circled in yellow) so I thought based on yesterday that I am waiting for the next H1 candle to close before making a decision.
The next BLUE H1 closed below the 50% level of the RED MOMO H1 candle so failed to close higher therefor I thought a SHORT would have been safe.(I think this part of my analysis as just crap!)
However I did take 9 pips ...entered short at 50% level of RED H1 MOMO candle @ 1.21949.
Image

In retorspect I am thinking the following... while I did everything right at this point - the fault in my analysis was two fold:
1) Price failed to close lower ( below RED H1 MOMO candle) as MOMO was down - that would indicate that price may start reversing now. However the opposite would be true if MOMO was upwards and price failed to close higher, than a reversal may be possible.

2) A double bottom formed. I am a little unsure as to its significance and when tp pay attention to them and what they may imply. But looking at some charts it seems that they are a good indication of reversal coming our way.

Are these retrospective analysis on the right track?


Your analysis is good but you are missing some parts. Red momo down! So you only think shorting. The next candle closes on the 50% area. This indicates that price may continue if the blue candle holds and see what happens next!!! Price retraced but couldn't close below The openprice of the blue H1. Now you need to be fast and find some entry. rat enry of the blue H1 is nice to do.

Sometimes you get time sometimes you need to be very fast. If things are not clear stay out and observe. If you observe 10 times and 10 times happens the same then you know your analysis start to work
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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