The ideas that I trade by:

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forextrading
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Postby forextrading » Tue Jul 15, 2014 5:11 pm

Jalarupa wrote:
MightyOne wrote:For our more advanced friends who use TA:

You will find that a chart is nothing more than triangles and breakouts & that triangles are nothing more than two channels that cannot agree on direction.

Image


Use the simplest thing that works:

If you just want to reach the extreme then forget about the price action.

If you want to time your trades then bodies & wicks are enough.

If you see a triangle and it helps you plan your trades then use it, but if a particular triangle is only confusing you then don't use it on this trade.

Image


Image

Image

My problem is, I struggle to establish which lines are important... largely due to an overall lack of understanding... So I'm going to try and abide by your TA mantra; "Lines don't matter so much as understanding the PA"

Image

SO PA moves between 2 opposing channels and sometimes Breaks Out of those channels to discover channel resistance on larger channels...

Image


Jalarupa, how you trade that lines?

Some time ago I was thinking how to play using the trend line but I did not invent anything meaningful.

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Postby MightyOne » Tue Jul 15, 2014 5:30 pm

forextrading wrote:just observation


How would you trade the large chart?
Where would you put your stop?
Where would your stop trail to?

Trading is as easy as placing a stop, but trading is not just placing a stop :wink:

Price spends most of its time, some say 80%, moving sideways & this time spent between the extremes is what transfers safety to your stop loss...
...you get to see a lot of intraday price action and react rather than getting stopped out and seeing a lot of intraday price action :lol:

Give a trader of space his last 5 pips and a decent lot size and he can work a miracle :shock:

If you click the link in my signature and read forward then you might begin to understand how to trade for dollars...
...if not then you might follow the others in their pursuit of pips.

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Postby Jalarupa » Tue Jul 15, 2014 5:38 pm

forextrading wrote:
Jalarupa wrote:
MightyOne wrote:For our more advanced friends who use TA:

You will find that a chart is nothing more than triangles and breakouts & that triangles are nothing more than two channels that cannot agree on direction.

Image


Use the simplest thing that works:

If you just want to reach the extreme then forget about the price action.

If you want to time your trades then bodies & wicks are enough.

If you see a triangle and it helps you plan your trades then use it, but if a particular triangle is only confusing you then don't use it on this trade.

Image


Image

Image

My problem is, I struggle to establish which lines are important... largely due to an overall lack of understanding... So I'm going to try and abide by your TA mantra; "Lines don't matter so much as understanding the PA"

Image

SO PA moves between 2 opposing channels and sometimes Breaks Out of those channels to discover channel resistance on larger channels...

Image


Jalarupa, how you trade that lines?

Some time ago I was thinking how to play using the trend line but I did not invent anything meaningful.


WARNING THIS ANALYSIS MAY CAUSE CONFUSION

Please look away if you are happy being NOT confused...

So those lines create Channels (there is a tutorial on how to draw them in Doji's thread and bits and pieces here in this one, so i'm not going to go into how you draw them)...

Higher time frame channels give direction and smaller time frame provides targets and entries...

Image

as you can see the direction of the black channel was the dominant force in today's price action...

Now trading it went like this...

I know its not the same as my initial post but the speed at which the drop came into the zone prompted me to seek the shelter of a deeper extreme...

Image

using the Cone as a back stop for the drop in price I traded away from it looking to target the upper channel highs for my first profit target...

Then Yellen started Yellin' and I sat on the side lines and watched as price resumed the longer term H4 Channel down stopping on a dime before

In hindsight and the reason I got chastised by MO was I failed to note the MOMO on the daily chart and the obvious wick dolls pointing to lower prices...

Image

But yeah all and all a very good day for learning and keeping the space bank accumulating, so that I may take a stab at the +2 D extreme... Thanks MO ;)
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

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Postby Captain Pugwash » Tue Jul 15, 2014 6:00 pm

MightyOne wrote:
Captain Pugwash wrote:
Jalarupa wrote:On a side note, I guess that is what it means to be at a 2+ Daily Extreme... The Cone High/Low has already been established... Yeah I know.... really stating the obvious today... :)


AHA that makes sense - so the market has already taken out the buy stops from the extreme sellers - and made new pa to define our new entry.



Its the final entry on this chart that eludes me.

The adds and space manipulation on the first two space expansions I sort of get


But that last one just looks like a pending on the bottom line - unless its the second spike up to the body of the first spike - although I'm sure mo's gonna make me sweat :)

Image


After shorting with only wickdolls to comfort me (no BDP) I was hoping that the daily would fall below 8970 so that I could short more aggressively with an awesome position.

Image


AHA! so the Body in the Direction of Profit (BDP) (MOMO) then gives you confidence to reset your lines - Simple really

Also interesting that you prize the BDP so highly after using the initial extreme - so you use the BOx as the new position for our fib tool AFTER we get a BDP - so glad I asked

extreme > pump space > BDP > re-position fib> enter > take the ride

Thanks so much

great charts Jal

edit typo - as usual

EDIT p.s. if I got any of the above wrong - feel free to give me a slap :)
Last edited by Captain Pugwash on Tue Jul 15, 2014 8:00 pm, edited 3 times in total.
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Postby MightyOne » Tue Jul 15, 2014 6:01 pm

The biggest problem is that we spend so much time working the small charts that it looks & feels, to the novice, like we are day traders when in fact we are position traders using small charts to accumulate size.

Not all of our actions agree with the large chart but all of our actions eventually converge with the long time frame; because there is no other path to hundreds of pips than through waiting & when waiting we need the assurance of large period technicals.

But how can we convey this idea except to say "trade from the top down & from the bottom up" ... "no really, get your ass back to the large chart!" :D

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Postby Jalarupa » Tue Jul 15, 2014 6:10 pm

***BOWS***

Thanks MO for tolerating us :D

And thanks Puggo for holding my hand today, gonna prolly have nightmares about that EURAUD short that got away! :(

Image

Truth is I got caught up with being right. in the short term which is why MO's last post will remain etched in my thoughts... Thank you again
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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Postby MightyOne » Tue Jul 15, 2014 7:06 pm

See what I mean about the movement of cones Jala:

Image


There is no greater tool to own a trader's soul than to move the market into a cone shape.
They say that FOREX is too large to be manipulated...what a load of BS.

forextrading
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Postby forextrading » Tue Jul 15, 2014 8:01 pm

MightyOne wrote:
forextrading wrote:just observation


How would you trade the large chart?
Where would you put your stop?
Where would your stop trail to?

Trading is as easy as placing a stop, but trading is not just placing a stop :wink:

Price spends most of its time, some say 80%, moving sideways & this time spent between the extremes is what transfers safety to your stop loss...
...you get to see a lot of intraday price action and react rather than getting stopped out and seeing a lot of intraday price action :lol:

Give a trader of space his last 5 pips and a decent lot size and he can work a miracle :shock:

If you click the link in my signature and read forward then you might begin to understand how to trade for dollars...
...if not then you might follow the others in their pursuit of pips.



I need turn on a RENKO chart to see everything clearly.


I use a large chart to check the main trend. If I use a stop loss that I put him on the other side of the extreme or swing. I Do not move the stop loss for a single position.


I heard about the price most of the time spent in sideways. But I think it depends on the trend detection techniques. In my opinion there is always a trend and all depends on the timeframe.

I created this plan:
1. First check what is the trend
2 find a place on a large graph in which the price will change direction (extreme, swing, S/R)
3 enter the trade on a smaller timeframe.
4 add position on a smaller timeframe towards greater timeframe.
5 Reduce the risk to the increased number of positions on a smaller timeframe.
5 liquidate everything at the opposite extreme.

So far I have tried to use exterme of 15 timeframes:
3H
9H
27H
12H
36H
108H
27D
8D
3D
3W
9W
27W
3M
9M
27M

H - hour, D - day, the-week, M - month


I need RENKO chart :lol: - Today check.


Some say that the price moves sideways, in my opinion trend exists.
100 pips box.
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Last edited by forextrading on Tue Jul 15, 2014 8:59 pm, edited 1 time in total.

forextrading
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Postby forextrading » Tue Jul 15, 2014 8:18 pm

Jalarupa wrote:
forextrading wrote:
Jalarupa wrote:
MightyOne wrote:For our more advanced friends who use TA:

You will find that a chart is nothing more than triangles and breakouts & that triangles are nothing more than two channels that cannot agree on direction.

Image


Use the simplest thing that works:

If you just want to reach the extreme then forget about the price action.

If you want to time your trades then bodies & wicks are enough.

If you see a triangle and it helps you plan your trades then use it, but if a particular triangle is only confusing you then don't use it on this trade.

Image


Image

Image

My problem is, I struggle to establish which lines are important... largely due to an overall lack of understanding... So I'm going to try and abide by your TA mantra; "Lines don't matter so much as understanding the PA"

Image

SO PA moves between 2 opposing channels and sometimes Breaks Out of those channels to discover channel resistance on larger channels...

Image


Jalarupa, how you trade that lines?

Some time ago I was thinking how to play using the trend line but I did not invent anything meaningful.


WARNING THIS ANALYSIS MAY CAUSE CONFUSION

Please look away if you are happy being NOT confused...

So those lines create Channels (there is a tutorial on how to draw them in Doji's thread and bits and pieces here in this one, so i'm not going to go into how you draw them)...

Higher time frame channels give direction and smaller time frame provides targets and entries...

Image

as you can see the direction of the black channel was the dominant force in today's price action...

Now trading it went like this...

I know its not the same as my initial post but the speed at which the drop came into the zone prompted me to seek the shelter of a deeper extreme...

Image

using the Cone as a back stop for the drop in price I traded away from it looking to target the upper channel highs for my first profit target...

Then Yellen started Yellin' and I sat on the side lines and watched as price resumed the longer term H4 Channel down stopping on a dime before

In hindsight and the reason I got chastised by MO was I failed to note the MOMO on the daily chart and the obvious wick dolls pointing to lower prices...

Image

But yeah all and all a very good day for learning and keeping the space bank accumulating, so that I may take a stab at the +2 D extreme... Thanks MO ;)


Thank you for your response.

Yes, I am a little confused :lol:

I played today in the same place as you, but I had a bigger target and price turned and stop loss.

The idea that you present - so I tried to play. Channel with a larger timeframe as the direction and the breakout of a smaller timeframe towards greater.

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dojirock
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Postby dojirock » Tue Jul 15, 2014 9:43 pm

MO, I stare at this till my eyes are going to explode!
This is what I see, Price seems to be expanding every cone sequence.
YET when I trade live, I always see the cones as shrinking thus not trading them due to the decrease in room to make profit.
Am I on the wrong side of the zline in a sense?
Do i just need to learn to see them as expanding instead of decreasing?
Im baffeled by your ability to see this stuff. But im not giving up.

doji
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"Sometimes we need to stop learning and start thinking...."
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