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hoss
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Postby hoss » Tue Jul 07, 2009 9:14 pm

I'm using the 7 semafors on the 5 minute chart that somebody had posted earlier and it's still working well for me. It's all I use except for a fib to see some profit targets.

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monolisa
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Postby monolisa » Tue Jul 07, 2009 11:37 pm

Hi MO,

Are you able to comment on this please? Much appreciated.

Thanks.

Lis

monolisa wrote:Hi MO,

So if we trade the event, then we could enter a position when there's a breakout (momentum) and exit/re-enter based on the price action (correction/real move) of higher TF chart? Also, what do you mean by "long term position"?

On the other hand, if we trade like you (postmomentum trader) then we can enter either at the beginning of the correction or the real move, or both. In a nut shell, movement/momo gives you the signal, and using support and resistance (defined by the mighty zone and highest high/lowest low of the momentum) you are able to identiy the correction and the real move (both are retracements).

Thanks.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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MightyOne
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Postby MightyOne » Wed Jul 08, 2009 2:26 am

A breakout in not an indication of momentum...

If there is one thing that is critical to your success is the ability to let go.
You shouldn't be twitchy to catch a move right from the beginning.

What do I mean by long term position?

Well that takes us right back to the talks of daily bar and greater extremes.




monolisa wrote:Hi MO,

Are you able to comment on this please? Much appreciated.

Thanks.

Lis

monolisa wrote:Hi MO,

So if we trade the event, then we could enter a position when there's a breakout (momentum) and exit/re-enter based on the price action (correction/real move) of higher TF chart? Also, what do you mean by "long term position"?

On the other hand, if we trade like you (postmomentum trader) then we can enter either at the beginning of the correction or the real move, or both. In a nut shell, movement/momo gives you the signal, and using support and resistance (defined by the mighty zone and highest high/lowest low of the momentum) you are able to identiy the correction and the real move (both are retracements).

Thanks.

Lis

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monolisa
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Postby monolisa » Wed Jul 08, 2009 3:20 am

Hi MO,

So a breakout is not indication of momentum, what indicates momentum? I presume it's the body size of the candle.

Learn to be patience and wait till momentum eventuates, then get in. Is it the key?

Thanks MO.


Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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prochargedmopar
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Postby prochargedmopar » Wed Jul 08, 2009 4:02 am

monolisa wrote:Hi MO,

So a breakout is not indication of momentum, what indicates momentum? I presume it's the body size of the candle.

Learn to be patience and wait till momentum eventuates, then get in. Is it the key?

Thanks MO.


Lis


If you can see loss then you can see profit.
It's a B but must be studied.

Breakouts can be heaven and they can also be hell.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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es/pip
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Postby es/pip » Wed Jul 08, 2009 4:47 am

monolisa wrote:Hi MO,

So a breakout is not indication of momentum, what indicates momentum? I presume it's the body size of the candle.

Learn to be patience and wait till momentum eventuates, then get in. Is it the key?

Thanks MO.


Lis


yes body size of candles

what does bar # 1 2 and 3 tell you in the following pic?

answer like this

bar number 1 tells me.....................

bar #2 tells me ..............

etc
Image

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monolisa
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Postby monolisa » Wed Jul 08, 2009 5:22 am

Thanks, es/pip. Crystal clear.

By the way, if you look at the 3rd candle after the "3" bull candle it was a bearish momentum candle. The next candle was bull but weak, and the one after was bear but even weaker. Given the easing momentum and the price was close to H4 mighty zone target the prospect of going downward would be much less. It's time to wait for another momentum candle.

Is it how you would look at it, es/pip?

THanks.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

Fxtraveller
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Postby Fxtraveller » Wed Jul 08, 2009 10:18 am

Hi.

I dumped all indicators but dynamic fibs, and watch M5/M15 zoomed out....My trading instantly got better.
I actually started seeing ranging/trending/breakout markets.... wow :)

Where can I learn more about Z lines and how to draw them correctly, etc...? which thread is best? if this one, around what page? It has SO many pages, its unreal, but best thread on the site.
Any suggestion or direction to it would greatly be appreciated.
I feel releaved no that I started to trade without any indicators.

Regards.
FxT.

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monolisa
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Postby monolisa » Wed Jul 08, 2009 10:30 am

Indeed, Fxtraveller. Able to read price action and its action through time is enough to give you the edge in trading. But first of all you need to SEE (which you already have) before you can READ and UNDERSTAND.

I will leave zline advice to the zline experts :)

Good luck to your trading.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

koolbreeze
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Postby koolbreeze » Wed Jul 08, 2009 1:16 pm

Fxtraveller,
This thread is the one for ZL info. (MO, thanks for your insight) I believe you will see Mo's posts start about page 138.

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