Humble wrote:es/pip, thank you for your explanations and patients.
cfabian, whilst some here such as es/pip have the ability to trade the PA every which way, as I understand MO's zl concept, the idea is to look at the above chart see all the held profit from the up move and trade it back down. I'm not sure whether MO may even wait for the reversal and then trade it back up.
once you see that all that held profit is available you need to have a reason--like cfabian was saying-- to trade back down to it
that reason will be some down momo preferably on the 4hr or higher-- i thought we were going to get it on that h4 chart i posted earlier-- but the forex gods didn't agree
on the pound right now we have broken out, and the next real area of held profit is at the yellow line--which would create resistance. also coming into a weekly zl as well
ideally i would like to short back down to the lower zline and get that held profit and then trade it long up into the higher zl and take that profit. have to wait and see what will happen
when i am playing the market each way- long and short-- it is based off of coming into zl on the higher time frames
have to know where u are in the scheme of things on the higher time frames and look inside to trade it. when i take something long on the 15 min and then reverse and go short of the 15 min it is not due to the 15 min as the base reason. well, sometimes i will get in trades based off the 15 min but u run a lot more risk of getting stopped if you have no background reason
Bend over and assume the position for another 4 years of hope and change.