PA, S/R, ZL, EXTREMES & MOMO

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bredin
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Postby bredin » Wed Jun 15, 2011 4:22 pm

Image

This chart is 3xCC M15 and is where I do most of my entries.

Can you see how the 3xCC gives a very clear picture of S/R and S->R (or R->S), and most importantly, fake MOMO? It gives both the heads up and the confirmation (or non confirmation)... shows when a retrace is only a retrace and not a reversal.

You can see that the green closes over the brown line giving the short heads up, followed by the orange (you could enter now) and finally the black... if then at the brown line and Position somewhere above the dark blue one: its a relatively small risk for what looks like a southward turn off the daily high.

If, 45 minutes later, all three CCs close above the brown line I might be thinking that we're still going up... where might it get to? have to look at a bigger chart for that :lol:

If price closes across the MOMO open then I consider that MOMO is destroyed.. S->R.

If you need that squiggly as a filter, and it does its job, then use it ;) they just confuse me :lol:

G.
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newscalper
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Postby newscalper » Wed Jun 15, 2011 6:38 pm

Yeah, I can read them like that. So how didn't you get faked out long when the CC closed over the top line line up? Are you entering a break or a pullback?

Edit - just layed the 3cc on my chat using different colours for up and down, only 1CC closed up.

Rrright, so you look for more than 1CC to close the line before thinking about entering is that right? Not seen it that way before - how I was seeing it before was 'any CC closes across the line'. That puts a different slant on things. Thanks :D

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Postby rob_deniro » Wed Jun 15, 2011 9:40 pm

Hi bredin

I'm trying to use your CC indi and have looked on your forum / used the templates but still can't get the settings to look anything like yours...

Would you be up for sharing your settings, pretty please?

:)

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bredin
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Postby bredin » Thu Jun 16, 2011 12:42 am

Rob, I am using II_CC_3x on that chart, which plots all three CC's at once, and the underlying chart is set to the background color (I think its a line chart). II_CC_3x is a donational indi, but can be replicated by using 3 different II_CC_Lite indis with different object.layer values.

It sounds like newscalper has it sorted if you have some trouble.

newscalper, who says I didnt get faked ;) but the answer to "what do I do about it?" comes quickly: I dump and wait for the price to close over either the dark blue or the brown, but one could have taken a risk on a stop-and-reverse depending on how aggressive you wanted to be.

MO talked about there being a leading CC and an entry CC. I cant recall which thread that concept in in though :(

G.
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Postby newscalper » Thu Jun 16, 2011 7:51 am

Here you go Rob
CustomCandleRat

Double click the white vertical line drag it one bar to the left. Then click the white line again and click it one bar to the right.

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Postby newscalper » Thu Jun 16, 2011 7:55 am

bredin wrote:Rob, I am using II_CC_3x on that chart, which plots all three CC's at once, and the underlying chart is set to the background color (I think its a line chart). II_CC_3x is a donational indi, but can be replicated by using 3 different II_CC_Lite indis with different object.layer values.

It sounds like newscalper has it sorted if you have some trouble.

newscalper, who says I didnt get faked ;) but the answer to "what do I do about it?" comes quickly: I dump and wait for the price to close over either the dark blue or the brown, but one could have taken a risk on a stop-and-reverse depending on how aggressive you wanted to be.

MO talked about there being a leading CC and an entry CC. I cant recall which thread that concept in in though :(

G.


He talked about the candles towards the end of the Blind Mouse thread. I didn't fully understand it and by the time I read it no-one was really posting in there any more. Seems to be a dead thread now.

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Postby newscalper » Thu Jun 16, 2011 9:48 am

Considering EU long. At a higher tf supply area. Just waiting for PA. 2 15 spikes so far, trying out 3CC again. Another line above as a trouble area.

Edit, now this it what I have trouble seeing with 3CC. I see candles close beyond a line, so am waiting for them to close back for a possible reversal. BUT candles NOT closing over a line for the continuation is what I have trouble in reading.

Now for this long 3 candles have closed below line (1 the same colour twice) another failed to close beyond and one is now closing above, is this possible signal for entry or do I need another CC to close up too?

Image

Not long yet - that blue was still forming when I made this, closed up above the line but very weak.


Edit, orange now closed up quite well so am in long. Position about 40 pips.
Last edited by newscalper on Thu Jun 16, 2011 10:57 am, edited 4 times in total.

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rob_deniro
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Postby rob_deniro » Thu Jun 16, 2011 9:57 am

bredin wrote:Rob, I am using II_CC_3x on that chart, which plots all three CC's at once, and the underlying chart is set to the background color (I think its a line chart). II_CC_3x is a donational indi, but can be replicated by using 3 different II_CC_Lite indis with different object.layer values.

It sounds like newscalper has it sorted if you have some trouble.

newscalper, who says I didnt get faked ;) but the answer to "what do I do about it?" comes quickly: I dump and wait for the price to close over either the dark blue or the brown, but one could have taken a risk on a stop-and-reverse depending on how aggressive you wanted to be.

MO talked about there being a leading CC and an entry CC. I cant recall which thread that concept in in though :(

G.


Ta for the reply bredin, I've got the CC_Lite going on but I dont seem to get the vertical spacing / wick representation that your donational one has, which looks like the most valuable function in discerning fakeouts etc, was wondering if it was to do with 'find extreme' settings, I've played with them a bit, but maybe need to a bit more...

Image

You are absolutely right about what to do about what to do about getting faked (dumping and waiting), something I'm still trying to get into my thick head.. this forum has been an treasure trove of info but it cant teach you to learn your own psychology...

newscalper: thanks for the template, if it makes you feel any better I just dumped a large chunk of my profits on that same piggy slaughter place that you did a few days ago... not best pleased cos I thought I'd 'got it figured'...

after that I was in the massive GU short @ 1.642 on Tuesday, but was so freaked out by my loss that I didn't have the bottle to hold it, if I had would be even again now... I cant count how many times I've bailed and its come back to my old position and more quite rapidly... I guess the only way you learn the psychology / timing is to keep trading and not wipe out!

Cheers chaps, all the best :)

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newscalper
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Postby newscalper » Thu Jun 16, 2011 11:20 am

Bailed -9

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MightyOne
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Postby MightyOne » Thu Jun 16, 2011 4:48 pm

Yes there are conflicting signals, they are called ILLUSION or wick.

The name of the game is Position and the tool is S&R defined by time.

The rulebook on how to play the game is labeled IDEAS and in it are written
things such as: if price is closing higher then price is going higher, there is only
one highest high, etc.

The faces of the die contain the words IF & THEN.

The play money is called Space...

the real money is called Lots O'space (lots over space)

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