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jarnapal
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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.

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scheeco
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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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Jalarupa
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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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Jalarupa
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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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dragon33
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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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rushN4
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Postby rushN4 » Tue Jun 15, 2010 12:58 pm

dragon33 wrote:
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



Im in this two trades what do you think about them dragon?

Image

GU target 4h 50level

Image

EJ target 1h 50level

scheeco
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Postby scheeco » Tue Jun 15, 2010 1:09 pm

dragon33 wrote:
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


Thanks so much Dragon, always helpful!
The RED H1 MOMO I circled was what made think to only go short.
When you say "next candle closes on the 50% area" - are you refering to the BLUE H1 CANDLE after the RED MOMO or the M15 blue candle?

If it is the BLUE H1 CANDLE - does it mean I have to wait for it to close and then to see what happens in the next H1 candle?
In this case the second blue H1 Candle had the retrace but failed to close below the previous BLUE H1 Candle - so now we are sure that price is moving up so enter.

I think my problem is that I am looking for hard and fast rules when that is practically impossible on the market.
There are only probabilities and no definitives.
I am trying to determine what are the things to look for once price moves into the H4/H1 zones and the probable action.
But I will get there.

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gfg1
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Postby gfg1 » Tue Jun 15, 2010 5:06 pm

dragon, your opinion please, when you get a chance.

It seems that during asian and london sessions 50% of H1 momo seems to hold by itself. During NY session, probably better to wait until z line.

TIA


dragon33 wrote:
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
Attachments
gu15.gif
gu15.gif (21.46 KiB) Viewed 1315 times
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 » Tue Jun 15, 2010 7:48 pm

rushN4 wrote:
dragon33 wrote:
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



Im in this two trades what do you think about them dragon?

Image

GU target 4h 50level

Image

EJ target 1h 50level


No need to answer, nice trading! Did you ride them till target?
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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dragon33
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Postby dragon33 » Tue Jun 15, 2010 7:58 pm

scheeco wrote:
dragon33 wrote:
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


Thanks so much Dragon, always helpful!
The RED H1 MOMO I circled was what made think to only go short.
When you say "next candle closes on the 50% area" - are you refering to the BLUE H1 CANDLE after the RED MOMO or the M15 blue candle?

If it is the BLUE H1 CANDLE - does it mean I have to wait for it to close and then to see what happens in the next H1 candle?
In this case the second blue H1 Candle had the retrace but failed to close below the previous BLUE H1 Candle - so now we are sure that price is moving up so enter.

I think my problem is that I am looking for hard and fast rules when that is practically impossible on the market.
There are only probabilities and no definitives.
I am trying to determine what are the things to look for once price moves into the H4/H1 zones and the probable action.
But I will get there.


I always talk about the H1 candles if it is about 50% areas. entrys are just rats on M15.
The only rules you need to think about are!

Did we hit a H4 zone?
If yes wait for an H1 that retraces into previous H1 but fails to close lower or higher.
If no keep trading the other directions.

Once you have this in your fingers you can start searching how to trade the momocandles.

It is all about an H1 candle that retraces into a previous momentum or non momentum.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Thank you for your support.


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