Hello all!
I would like to share a trade that i feel is ripe for a really nice play long, i could be totaly wrong but! All i use is 3x3 CC's and some lines.
1: Daily+ extreme.
2: Grey closes above something.
3: Looking to enter below daily+ extreme and at extremes in general.
(yes i entered the first time it hit the daily+ extreme and exited when it started swishing back down)
1: Blue closes above something.
2: 1hour+ Extreme made below daily+ extreme.
3: Possible long somewhere in the area, looking for a body in direction of profit.
Any comments will be appriciated.
I will try keep an update on what i do with this trade.
PA, S/R, ZL, EXTREMES & MOMO
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can someone explain exactly what it means to enter on the extremes?
i remember MO saying that when he looks at a chart he looks at the charts where price has gone to the upper or lower edges. i suspect that is what he is referring to. if im not mistaken how far price once moved away from that "extreme" if i may use this term, is the potential value of this position. Can anyone confirm this? After so long I am still struggling having attempted many times.
i remember MO saying that when he looks at a chart he looks at the charts where price has gone to the upper or lower edges. i suspect that is what he is referring to. if im not mistaken how far price once moved away from that "extreme" if i may use this term, is the potential value of this position. Can anyone confirm this? After so long I am still struggling having attempted many times.
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erika_bb wrote:can someone explain exactly what it means to enter on the extremes?
i remember MO saying that when he looks at a chart he looks at the charts where price has gone to the upper or lower edges. i suspect that is what he is referring to. if im not mistaken how far price once moved away from that "extreme" if i may use this term, is the potential value of this position. Can anyone confirm this? After so long I am still struggling having attempted many times.
The idea is that price will move a hundred or hundreds of pips from one extreme or the other to a full range expansion.
The most common question then is "from which extreme" & the answer is also an idea.
Body in the direction of profit, wick in the direction of loss, & the ultimate question of what price closed over, is it (or how) significant, and how good of a position will I be working with / what it my potential in terms of range expansion.
Your best entry is off of a daily+ extreme.
Your second best entry is on a close over "something" (S&R is broken/invalid).
There are scalpers here with simple systems that work well.
My methods require a lot more mental energy (which for most is a bad thing )
MightyOne wrote:Set line chart to "none" then select line chart to see the 3xCC clearly.
Thank you very much for your input!
Looking at the 3x CC's bare the first thing that stands out to me is what i think could be price failing to close higher, i also noticed if i used the solid candle to mark price failing i got a nice picture of solid body's and the transparent candles actually look like wicks (double candle wicks).
This made me think is this s&r? Looking back i see continuations and fails at these over and over. (Maybe im just to physc'd up)
AUD/JPY again.
1: Daily+ extreme
2: Price fails to push higher. S&R forming at the extreme. Body's stay below entry on wicks
MightyOne wrote:You are correct =)
One acts as a body and the others as wicks.
The secret is that you are not trading a CC when using a 3xCC but timing the single TF.
A CC would skip over two periods where as a 3xCC skips nothing.
since every close is accounted for, you are trading the single TF.
Hi MO..
Could you elaborate your above explanation with a chart?
Thanks
B.
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