PA, S/R, ZL, EXTREMES & MOMO

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Belkin
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Postby Belkin » Tue Sep 06, 2011 2:05 pm

GU has been down for a while... been short since august 24.

Image

i have good space so I could resist todays pullback.

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newscalper
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Postby newscalper » Tue Sep 06, 2011 2:11 pm

Yeah, I know. But if you were looking to get into a trade this morning on shorter TFs you wouldn't have been looking for a short now would you? Price is reaching that big daily MZ plus there's been the big move up this morning.
You'd be looking for long on a retrace..well I would anyway

Belkin
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Postby Belkin » Tue Sep 06, 2011 3:15 pm

newscalper wrote:Yeah, I know. But if you were looking to get into a trade this morning on shorter TFs you wouldn't have been looking for a short now would you? Price is reaching that big daily MZ plus there's been the big move up this morning.
You'd be looking for long on a retrace..well I would anyway


my analisis

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Belkin
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Postby Belkin » Tue Sep 06, 2011 3:24 pm

Also look at the grey 3cc after.. i showed momo but had a huge wick..

even if you longed there.. the next grey 3cc closed over it. so you are out..

If you sized properly you could not get a severe drawback to the account

erika_bb
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Postby erika_bb » Tue Sep 06, 2011 3:37 pm

what timeframe charts do you guys trade. im starting to feel the h4 chart extremes are too unreliable . daily , weekly?

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Belkin
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Postby Belkin » Tue Sep 06, 2011 4:07 pm

weekly extremes. daily extremes..

paweldobkowski
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Postby paweldobkowski » Tue Sep 06, 2011 4:20 pm

Newscalper,

why wouldn't You look for shorts? I'm trading smaller timeframes and today You were able to grab pips both ways. It was a nice day due to volatility.

Image

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First there's is a strong support level (lower red line). There's where You should be looking for long entries. As es-pip would said - "the higher it gets the riskier it is" smth like that. (section 1).

Then price went hundreds of pips up and wicked the gap which is strong resistance (supply) level. Then it created long ass wick on H1. You should be shorting there (section 2). No way to look for longer term (than scapling) long entries after such rejection.


The momentum from upside was in the wicks actually (if You think about the price action at tick charts).


Some of the lines are placed shitty but You know how to do it so it's not the important part.

Today because of the volatility even counter momentum moves were good to trade but that's not the point either :wink:

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newscalper
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Postby newscalper » Tue Sep 06, 2011 5:19 pm

Image

Image

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poipen
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Postby poipen » Tue Sep 06, 2011 5:33 pm

Belkin wrote:GU has been down for a while... been short since august 24.

Image

i have good space so I could resist todays pullback.


beautiful, absolutely beautiful
Wise Men Know Their Limits, Great Men Have No Limits.

paweldobkowski
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Postby paweldobkowski » Tue Sep 06, 2011 6:44 pm

Wow! :shock:

I just saw Your chart Belkin. Amazing trading. Keep it up mate.
im gluten free intolerant

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