PA, S/R, ZL, EXTREMES & MOMO

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newscalper
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Postby newscalper » Fri May 27, 2011 8:19 am

Humble wrote:Now you have to wait until you have 60 consecutive trades without loss, before getting drunk again! That is to say, 60 trades that are either a win OR you exit after a trade has turned against you, without your S/L being hit.

If I ever do it I'll get drunk as well.


:D You could do it tomorrow. Trade the tick chart with a 300 pip stop. Close every trade at random in the green or in the red. No stops hit, all 'winners'.
Beer on Friday for you :lol:

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Postby sgorn » Fri May 27, 2011 8:48 am

Hi guys, Thanks es/pip for a very good topic. Basically I understood very good ZL,MOMO and supply/demand trading. I like very much how you apply these kind of techniques. this is my firs post so sorry for my english :) I will post some trades and screens!!
sebastian

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Postby sgorn » Fri May 27, 2011 8:54 am

eurjpy, brown place 1H MOMO down, red lines- 15M and 5M MOMO down( very good supply zones), short, TP 115.00
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Postby PTG » Fri May 27, 2011 9:22 am

This is my new signature: "new signature".

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Postby sgorn » Fri May 27, 2011 9:32 am

EJ, exit , TP +34 pips :)
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Postby newscalper » Fri May 27, 2011 1:29 pm

PTG, yeah I see the long on the 1HR similar charts although I didn't draw the zones by hand, just used the indi. My 'trouble' is that on that hourly chart I'm always loath to take that long because of everything else that I see that says 'bigger short coming soon'. I see that retail sentiment SSI is biased short though which is of concern.

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Postby PTG » Fri May 27, 2011 1:49 pm

newscalper wrote:PTG, yeah I see the long on the 1HR similar charts although I didn't draw the zones by hand, just used the indi. My 'trouble' is that on that hourly chart I'm always loath to take that long because of everything else that I see that says 'bigger short coming soon'. I see that retail sentiment SSI is biased short though which is of concern.


The indi is fine; it takes open or close and the outer extreme if I remember correctly. What matters is a horizontal line and whether or not price closes above or below to confirm ones anticipated trade direction.

What I like about drawing it by hand is that it makes me more aware of what I see, but that's just me.

I always consider both short and long opportunities without having a bias. I don't care who is thinking what nor what I think who is thinking or doing this or that or something else. Price itself shows it all and it is my job to go with the flow because I can't move the market; others have to do it for me. Just have to make sure I'm in before the herd is :lol: (and get the heck out before I'm clubbed to death in case I'm wrong :shock: )
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Postby newscalper » Fri May 27, 2011 2:20 pm

I often find I'm ahead of the herd - TOO ahead tends to be the problem. Coming back to the old close over a line is interesting in this context - when YOU talk of a close over are you talking about a monthly close over a line from a monthly zone, and hourly close over an hourly line etc keeping it all TF in context? So if price is currently within a zone of previous supply you're not looking for shorts on a smaller TF? Seiden would already be in AFAIK with a limit and take the hit if it gets to the other side. To my mind though that's only giving small r:r.

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Postby PTG » Fri May 27, 2011 2:46 pm

newscalper wrote:I often find I'm ahead of the herd - TOO ahead tends to be the problem. Coming back to the old close over a line is interesting in this context - when YOU talk of a close over are you talking about a monthly close over a line from a monthly zone, and hourly close over an hourly line etc keeping it all TF in context? So if price is currently within a zone of previous supply you're not looking for shorts on a smaller TF? Seiden would already be in AFAIK with a limit and take the hit if it gets to the other side. To my mind though that's only giving small r:r.


The higher the TF where the horizontal line (and therefore also a zone) originated from, the more significant it is. If price is in a HTF supply zone then I'd be more interested in looking for shorts on a smaller TF but since the zone is usually bigger I'd be most interested right at the outer extreme of such a zone where several TFs have their supply zone. At that point there will be traders from several TFs walking into the trap of the big guys. Once you have that confluence getting in on lower TFs can be extremely profitable since you're taking a LTF risk with a HTF reward 8)

But if you've missed that, or in case price doesn't get to the outer extreme of the HTF zone, you can also take a LTF trade based on the fact that a HTF candle closes outside of the zone. The close-over-the-line concept is in fact nothing else but a confirmation that things are going in your intended direction.

In any case, analysing the market from HTF to LTF over various instruments gives one the opportunity to cherry-pick the LRHR opportunities (that is low risk high reward, not the inverse :shock: ) so that one can capitalise on the big moves in the forex markets.

I'm working in that direction. If you're interested in that, MO has some nice ideas imho, as well as PipEasy on ForexFactory (millipede thread).
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Postby newscalper » Fri May 27, 2011 3:06 pm

Cheers m8 :D

Yeah I see exactly where you're coming from with confluence and clustering of orders.

I started PipEasy's thread a long time ago but it's a very long one. May be one on the 'to look at list' but right now I need to get more trades down, I spent the first 3 months of this year away from the screen and reading so now I need to get back to the screen for the moment.

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