PA, S/R, ZL, EXTREMES & MOMO

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PVPfreak
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Postby PVPfreak » Sun Aug 07, 2011 11:49 am

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.

Image

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)

Image

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.

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MightyOne
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Postby MightyOne » Mon Aug 15, 2011 5:34 pm

Set line chart to "none" then select line chart to see the 3xCC clearly.

erika_bb
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Postby erika_bb » Wed Aug 17, 2011 2:48 pm

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.

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newscalper
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Postby newscalper » Wed Aug 17, 2011 3:49 pm

If you look at a 1 or 4 hour chart in an uptrend where were the best entries to be had?

Maybe this helps?
Image

Humble
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Postby Humble » Thu Aug 18, 2011 2:05 am

What's the indi at top right?
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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MightyOne
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Postby MightyOne » Thu Aug 18, 2011 4:04 am

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 ;))

PVPfreak
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Postby PVPfreak » Thu Aug 18, 2011 11:27 am

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.

Image

1: Daily+ extreme
2: Price fails to push higher. S&R forming at the extreme. Body's stay below entry on wicks

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MightyOne
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Postby MightyOne » Thu Aug 18, 2011 12:22 pm

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.

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Postby Belkin » Thu Aug 18, 2011 12:43 pm

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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MightyOne
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Postby MightyOne » Thu Aug 18, 2011 12:56 pm


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