PA, S/R, ZL, EXTREMES & MOMO

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EDM
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Postby EDM » Fri Sep 09, 2011 2:33 pm

Nice chart Belkin ! thats what I believe trading is all about ... Momo and S/R I hope we see some more of that either from you or anyone trading Momentum and especially from the man who unveiled it all Mr MO :wink:

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EDM
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Postby EDM » Fri Sep 09, 2011 2:57 pm

We may see some retracement next week if we get a close above the fresh weekly momo

Image

Belkin
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Postby Belkin » Fri Sep 09, 2011 3:09 pm

Yes.. I always have in mind retracements..

Manage the space to stay alive the retracement occurs.

And dont freak out

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TygerKrane
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Postby TygerKrane » Fri Sep 09, 2011 11:01 pm

EDM wrote:...if we get a close above the fresh weekly momo

I'm not sure what you mean by this, could you explain further?

If we close [where], we retrace to [where?]

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

paweldobkowski
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Postby paweldobkowski » Sat Sep 10, 2011 11:18 am

You're killin it Belkin!


It was a nice bounce off resistance on weekly.
Image


I'm still learning to trade long term. I was short off supply on D1 and I just added one more position after that. Closed everything before the weekend.

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EDM
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Postby EDM » Sat Sep 10, 2011 11:28 am

TygerKrane wrote:
EDM wrote:...if we get a close above the fresh weekly momo

I'm not sure what you mean by this, could you explain further?

If we close [where], we retrace to [where?]


I remember MO saying something like that ... "Price will expand according to the period that your line represent" usually if price bounces off weekly S/R it will keep going that way until it hits an opposite S/R of the same period/magnitude

Comparing the size of momo may help you decide how far price will expand though am still not good at targeting momo but dropping to lower tf usually helps me to decide whether price will close over/under on the higher tf

I analyse the chart from top down and trade it from down top
Last edited by EDM on Sat Sep 10, 2011 12:52 pm, edited 1 time in total.

paweldobkowski
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Postby paweldobkowski » Sat Sep 10, 2011 11:56 am

Ye, You're absolutely right.

When You're analysing history on one time frame price never stops in the middle of nowhere and reverses. I'm not talking about retraces but turning points. Extremes aren't in random places. So as You said, taking it as a fact it's a good idea to target important zones of same TF that Your analysis was made on or even higher in case You're in the higher time frame move. I have no idea if it makes any sense :wink:

I went flat not because of weekend but because of beeing close enough to weekly demand and because it was a long bodied candle.
im gluten free intolerant

EDM
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Postby EDM » Sat Sep 10, 2011 1:18 pm

paweldobkowski wrote:Ye, You're absolutely right.

When You're analysing history on one time frame price never stops in the middle of nowhere and reverses. I'm not talking about retraces but turning points. Extremes aren't in random places. So as You said, taking it as a fact it's a good idea to target important zones of same TF that Your analysis was made on or even higher in case You're in the higher time frame move. I have no idea if it makes any sense :wink:

I went flat not because of weekend but because of beeing close enough to weekly demand and because it was a long bodied candle.


you could also wait next week for some PA indicating liquidation on extreme

something like that

Image

Image

EDM
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Postby EDM » Sat Sep 10, 2011 1:34 pm

some more

Image

How could they support the price during the past 4 months ?

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Postby paweldobkowski » Sat Sep 10, 2011 1:58 pm

Thanks for the input EDM.

This looks bearish also to me right now
Image

Maybe it was a little bit emotional :wink:


But I'm still happy with my exit. If it retraces up and turns back down, I'll be able to short it again on a breakout (+ - same price) or maybe even higher. We'll see.
im gluten free intolerant

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