If you trade GU please tell me how you did not trade this beautiful 123 setup. We were at a monthly zline! (redline). It gave you a perfect TTE. It gave you two different chances to sell the retest of the 2. A TTE of the ross hook that found resistance on the backside of the trendline. 1st support level has been taken out and the 2nd is about to be along with the middle trendline. Look for price to find support at either old resistance, a daily momo bar or the last trendline.
Also those trendlines are 13*, 26* and 52* degrees. What did MO say about price speed. Increases by 2, decreases by half. Just more confluence.
The idea's we trade by, so we never lose again. p2. The students become the masters
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
If price does break out up on EA, price target is 1.6100. Would be a 400 pip gain with a 20 pip sl. Nice 20 to 1 RR
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
So it looks like EA might be going up (could still hit resistance or just be a head fake). But if not I redrew my ML which I think better describes PA. It zooms and retests the ML and it has a perfect under/overshoot lines). Also added in a down ML just incase.
I also committed the ultimate sin in trading and gave my sell sl a little bit more room. I did this because it is only a part of a position not a full entry. Plus I'm up a decent amount. Don't do this if your a newbie.
I also committed the ultimate sin in trading and gave my sell sl a little bit more room. I did this because it is only a part of a position not a full entry. Plus I'm up a decent amount. Don't do this if your a newbie.
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
EJ was a beautiful play today. Momo long at support and a 123 at resistance which was also 2 inside bars. The angels are just showing a megaphone pattern.
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
At the beginning of the week I already knew my target for EJ trades would be 130. Why? Go look at the weekly chart and it was between the Crash zones. Confluence. Then we just waited for price at the beginning of the week to retrace into that wide range bear bar. The red x marks a loss on the 1st trade. But price gave you another chance to get in. Then its just about looking for closes under a line and retesting it. Then all those trades were exited yesterday (which ended up forming another wide range bar). So we looked for price to show us it was supporting price and gave us a tradeable signal. Took that up to the zline and price then gave us a setup to sell again. Easy as pie.
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Dashed lines are a triangle. Pink lines are trendlines that increase by double. Yellow shows a possible path for price. Black is support turned resistance. Fibo shows how the 50% is almost at the same level as possible resistance. Blue show the measured move of the last move down and how it lines up almost perfectly with the target of the triangle. 1.3500 seems like a good target. Match's with the daily and weekly to.
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Looks like EA is going up. Look for a retest of old resistance, should be an easy play. Price has been in congestion so don't exit until you get a burst of momentum.
Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Mr. Hyde wrote:Dashed lines are a triangle. Pink lines are trendlines that increase by double. Yellow shows a possible path for price. Black is support turned resistance. Fibo shows how the 50% is almost at the same level as possible resistance. Blue show the measured move of the last move down and how it lines up almost perfectly with the target of the triangle. 1.3500 seems like a good target. Match's with the daily and weekly to.
Since Im looking for a ABC correction up to about 1.3800 it would make sense to look for a reversal pattern at a support area. How bout a double bottom that retested the middle high. Sounds good
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Look how the EA found support at the energy point on the 1hr (the circle where opposing ML's meet) and then you could have used an oldie but a good of non momo bar (1st red arrow), momo (2nd red arrow), wick in direction of loss (3rd red arrow).
There is still an beautiful looking 4hr momo bar that price could retrace to. We are at what I would say is pretty strong momentum and it is the Asia session on a Friday. So who knows what the big boys are doing. I would take what I can and still leave a portion on and look for possible re-enters after it has clear broken and closed beyond resistance or look for a pull back to potential buy area's.
There is still an beautiful looking 4hr momo bar that price could retrace to. We are at what I would say is pretty strong momentum and it is the Asia session on a Friday. So who knows what the big boys are doing. I would take what I can and still leave a portion on and look for possible re-enters after it has clear broken and closed beyond resistance or look for a pull back to potential buy area's.
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Re: The idea's we trade by, so we never lose again. p2. The students become the masters
Mr. Hyde wrote:You cant tell me that the crash zone isn't the greatest thing since slice bread. Look how it lines up with the target of the triangle setup. Freakin perfect. That's the kind of confluence that's builds your account. 1st entry was simple support turned resistance, next was a 4hr momo play, 3rd was break of triangle, 4th was support turned resistance. Over a 1,000 pips. Easily could have doubled or tripled your account in a week or 2. Keep it simple guys and wait for the easy setups.
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Want to post a link to the crash zone you are using?
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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