When you have time, would you please kind enough to comment on my comments?
Have a good Independence Day holiday
monolisa wrote:Hi MO,
I hope you don't mind clarifying some of the points below. I have made some comments about them.
I just want to understand thoroughly the concepts you are trying to describe. I may be a slow learner but I am keen to know.
Three candles show the way
2/3 truth and 1/3 lie
Several candles show the way
they are but three
2/3 truth and 1/3 lie
I undertand that the candle period (time) varies and might not conform to the standard TF in MT4, but all three must have the same period. However, I am not sure of the exact nature of truth/lie and, specifically, the sequence of truth/lie among the 3 candles. Also, does the 2/3 truth and 1/3 lie apply to price as well?
You are always trading the truth found amidst a lie; taking the narrow road that leads toward reward.
The truth is the precursor and the event and the lie is the enclosure for the slaughtering of sheep.
The lie does not move toward or become truth
The truth is the the punishment for those that believe the lie.
I try to understand this using logical thinking.
If the truth is within a lie, and assuming that there are 3 seperate events (3 candles) and 2 of them are the truth and one of them is the lie, how could it be possible? The only way possible is LIE-TRUTH-LIE. Or are you saying the truth is within the LIE candle?
Second sentence is a bit easier to understand. I would think TRUTH-LIE-TRUTH fits the bill, right?
Third sentence is really perplexing. The only configuration possible is TRUTH-TRUTH-LIE (lie does not move toward or become truth)
Last sentence - if you believe the lie, the truth will seek you out and destroy you! TRUTH-LIE-TRUTH!!
Yes, only instead of watching a specific time frame the time and magnitude of the period is based on the event and not decided by the trader.
What is the event? Is it the candlestick of specific time period?
You would see a burst of momentum and mark where it starts to die off.
If from start to finish that were 9 hours then you would set the period converter to start drawing bars 9 hours prior to the momentum and create 9 hour bars.
As far as price is concerned, a real move is when price moves further than the largest correction that returned to the extreme.
I see a burst of momentum. Then I mark the momo candle and count until the highest high or lowest low mark. I then add 1 to the count (to include the pre-momo candle) and the final number is the custom period I am concentrating on. Is it correct?
Regarding real move/correction, if price trends down and retraces, the correction range is the point between the lowest low and the highest point of the correction. When price returns to the extreme (ie. the lowest low) and breaks that level then there's the real move. Is that right?
Thanks in advance.