The idea's we trade by, so we never lose again. p2. The students become the masters

[IgazI]

The idea of 'momo' was later replaced with the idea of 'patterns & breakouts':

notice the closes above '0', the breakout, the return, and the 2nd breakout...patterns and breakouts and candle color.

P&BO.png (76.81 KiB) Viewed 2297 times

[Mr. Hyde]

Extremes are a big part of this idea handed down to us from the Mighty One.
On the daily chart here, the blue stuff is two combined candles.
We have a D1 3 sema and some spikes into the D2 MZ.
TRO's traplines tell us that price usually crosses a line when it hits it.
Worth a scalp against W1, M1 and Y1? Turns out it was.

Did you have that drawn before or after price action. What was your reasoning for using those 2 candles. I thought the point of combining candles was to mark momentum. If that is the case then I would have started one candle before what you marked. But I do like the idea you presented and if you did draw the fibo's from the top of the swing to the bottom you had the 38 retracement line up perfectly with support turned resistance. the funny thing was is I originally got in at 1.4085 in the Asian session (the very top). To bad I just didn't hold it, haha.

It's actually 4 candles which are included (admittedly not clearly), starting from the open of the sema3 marked candle. I scalped this pattern from
Wednesday, but didn't hold because NFP was coming up and expectations already indicated I didn't want to be short for that. Nice job getting in on that top extreme.

That was my fault I read "two combined candles" and thought you meant 2 candles combined.

Can I asked what made you use the 4 candles. I like that you say you scalped it from Wed but didn't hold cuz of NFP coming up.

Yea if you look at the 15m chart of GU you see you get that last bit of momo candle right into resistance (bull trap) and then you get a dark cloud cover.

Thanks for all your charts and explanations.

[Mr. Hyde]

I’m NOT the one who can give you suggestions Mr. Hyde.
btw this gives me an advantage because I often find myself in setups like those ones.
Maybe a shared view can give you some fresh idea

If you are trading away from bigger lines then 1.40659 was the 50% of a H4 bearish momo.posting.php?mode=quote&f=4&p=113171

If, like me, you are looking for a hit&run method then take the profits at point “2” of a 1-2-3 (usually it comes with a 1:1 RR but it’s still a profit).
I think that if there are enough stops price will close above the 2 and then would try to zeroline that traders, that is when/where you trade long again.

About the second entry I’m not experienced enough to share my view, what I see is just too weak (aka no close above) and too small for a long.


HOWEVER this is just my own opinion.

Please feel free to offer your suggestion. It is always helpful to hear from others and look at it from there side.

There is no way I would consider that little 4hr candle bearish momo. Plus it didn't close under any meaningful line, so to me that was just another bear candle, but I do see were you are coming from. But there was a double top that could have easily been played so kudos to your Mira you did make me see something I missed.

I marked the candle I saw as a close over on the 2nd trade so not sure what you mean by to weak.

Why not bearish momo? This is what I see:

233069CD-93E5-4A9F-B765-1F6B358BFDE2.png

16A7148D-FEAD-49D7-B52A-B186FEAE2718.png

I don't use the 2x body size for momo. I like to look for real momo moves. The bar you marked momo it only moved 35 pips over 4 hours. if you look at your 1hr chart you can see 1hr bars that moved that much and more. if you looked at the bars I marked momo they all moved almost 100 pips or more. That's real momo to me. Just how I look at, that's all.

[Mr. Hyde]

The idea of 'momo' was later replaced with the idea of 'patterns & breakouts':

notice the closes above '0', the breakout, the return, and the 2nd breakout...patterns and breakouts and candle color.

P&BO.png

What "0" I don't see any "0" on your chart. Yea I never read much on patterns and breakouts. I had found a style and idea that worked pretty well for me and have stuck with it, instead of jump from idea to new idea and get lost and confused like so many trades do.

I know its not the latest and greatest but the simple stuff still seems to work. 1 small body. 2 momo candle. 3 wick in the direction of loss. Why fix something that isn't broke.

[PhilipLangford]

Did you have that drawn before or after price action. What was your reasoning for using those 2 candles. I thought the point of combining candles was to mark momentum. If that is the case then I would have started one candle before what you marked. But I do like the idea you presented and if you did draw the fibo's from the top of the swing to the bottom you had the 38 retracement line up perfectly with support turned resistance. the funny thing was is I originally got in at 1.4085 in the Asian session (the very top). To bad I just didn't hold it, haha.

It's actually 4 candles which are included (admittedly not clearly), starting from the open of the sema3 marked candle. I scalped this pattern from
Wednesday, but didn't hold because NFP was coming up and expectations already indicated I didn't want to be short for that. Nice job getting in on that top extreme.

That was my fault I read "two combined candles" and thought you meant 2 candles combined.

Can I asked what made you use the 4 candles. I like that you say you scalped it from Wed but didn't hold cuz of NFP coming up.

Yea if you look at the 15m chart of GU you see you get that last bit of momo candle right into resistance (bull trap) and then you get a dark cloud cover.

Thanks for all your charts and explanations.

Yeah, the Mighty One called it "spacial intellect" or something like that. I like the idea of looking at a chart and making up your own timeframes that fit your expectations of what price might do. Combining 2 D1 candles I could get momo with an MZ that worked. At the end of the day it was just momo off a HTF extreme. That's all I was looking at.

[Mr. Hyde]

Man Im glad I posted that loss. Love all the comments and idea's that everyone is posting. Thank you to you all.

[Mr. Hyde]

It's actually 4 candles which are included (admittedly not clearly), starting from the open of the sema3 marked candle. I scalped this pattern from
Wednesday, but didn't hold because NFP was coming up and expectations already indicated I didn't want to be short for that. Nice job getting in on that top extreme.

That was my fault I read "two combined candles" and thought you meant 2 candles combined.

Can I asked what made you use the 4 candles. I like that you say you scalped it from Wed but didn't hold cuz of NFP coming up.

Yea if you look at the 15m chart of GU you see you get that last bit of momo candle right into resistance (bull trap) and then you get a dark cloud cover.

Thanks for all your charts and explanations.

Yeah, the Mighty One called it "spacial intellect" or something like that. I like the idea of looking at a chart and making up your own timeframes that fit your expectations of what price might do. Combining 2 D1 candles I could get momo with an MZ that worked. At the end of the day it was just momo off a HTF extreme. That's all I was looking at.

Yea looking back I see that now (momo off the HTF). Still being a newer trader sometimes I miss super obvious things like that. Even with having a checklist of idea's that I look for I still miss things from time to time or even will skip it if I have a conflicting message or I just don't see the trade. there will always be another chance and another trade.

[PhilipLangford]

The idea of 'momo' was later replaced with the idea of 'patterns & breakouts':

notice the closes above '0', the breakout, the return, and the 2nd breakout...patterns and breakouts and candle color.

P&BO.png

What "0" I don't see any "0" on your chart. Yea I never read much on patterns and breakouts. I had found a style and idea that worked pretty well for me and have stuck with it, instead of jump from idea to new idea and get lost and confused like so many trades do.

I know its not the latest and greatest but the simple stuff still seems to work. 1 small body. 2 momo candle. 3 wick in the direction of loss. Why fix something that isn't broke.

The lines are labelled -2,-1,0,1,2,3 etc. But yeah, I haven't seen anything that beats momo, zlines, extremes for absolute profitability. This is a method that makes crazy amounts of money, and I give all credit to those who brought it to light. Starting with TRO, Mighty One, etc. I share that sentiment with Mr. Hyde in that I don't care if it's not new and shiny any more. It works, so why not quintuple down on it?

[Mr. Hyde]

The idea of 'momo' was later replaced with the idea of 'patterns & breakouts':

notice the closes above '0', the breakout, the return, and the 2nd breakout...patterns and breakouts and candle color.

P&BO.png

What "0" I don't see any "0" on your chart. Yea I never read much on patterns and breakouts. I had found a style and idea that worked pretty well for me and have stuck with it, instead of jump from idea to new idea and get lost and confused like so many trades do.

I know its not the latest and greatest but the simple stuff still seems to work. 1 small body. 2 momo candle. 3 wick in the direction of loss. Why fix something that isn't broke.

The lines are labelled -2,-1,0,1,2,3 etc. But yeah, I haven't seen anything that beats momo, zlines, extremes for absolute profitability. This is a method that makes crazy amounts of money, and I give all credit to those who brought it to light. Starting with TRO, Mighty One, etc. I share that sentiment with Mr. Hyde in that I don't care if it's not new and shiny any more. It works, so why not quintuple down on it?

Oh thanks for pointing that out. Im rocking a eye patch on my right eye so sight is a little hampered. I wish pics on Kreslik would enlarge when clicked on. Glad to hear someone still likes the oldies as much as me, haha.

[LeMercenaire]

What "0" I don't see any "0" on your chart. Yea I never read much on patterns and breakouts. I had found a style and idea that worked pretty well for me and have stuck with it, instead of jump from idea to new idea and get lost and confused like so many trades do.

I know its not the latest and greatest but the simple stuff still seems to work. 1 small body. 2 momo candle. 3 wick in the direction of loss. Why fix something that isn't broke.

The lines are labelled -2,-1,0,1,2,3 etc. But yeah, I haven't seen anything that beats momo, zlines, extremes for absolute profitability. This is a method that makes crazy amounts of money, and I give all credit to those who brought it to light. Starting with TRO, Mighty One, etc. I share that sentiment with Mr. Hyde in that I don't care if it's not new and shiny any more. It works, so why not quintuple down on it?

Oh thanks for pointing that out. Im rocking a eye patch on my right eye so sight is a little hampered. I wish pics on Kreslik would enlarge when clicked on. Glad to hear someone still likes the oldies as much as me, haha.

Not to be cheeky - but you do know that if you rt click on the screenshot and ''open image in a new tab'', you will be able to do what you need to do?

I just say 'coz it took me ages to figure out the same thing