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Jalarupa
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Postby Jalarupa » Sat Jul 19, 2014 8:20 am

Image


Hey MO

Quick question regarding this markup on the AU and the previous series that you posted on the EA.

I noted in your last EA markup that you called for further weakness in the PA. Was any of this call based off of intermarket analysis (In other words noting the initial coning and subsequent channel low in the AU), or was it based purely off of the Pennant formation (lower highs) on the EA below?

Image


Just curious, thanks
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Postby forextrading » Sat Jul 19, 2014 9:00 am

Braathen wrote:So EU just hit a 1month+ extreme and i got a nice little pennant going
here.. what im going to do with it is another question :D
I will keep drawing them and try to see what i can see :D

But it does look cool!

Image


Finally, I understood where the extreme is. This is the maximum or minimum price of X period of time?

In this case, I drew extreme of the month - right?

So these are the places where we play away from it.
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Postby Braathen » Sat Jul 19, 2014 4:51 pm

forextrading wrote:
Braathen wrote:So EU just hit a 1month+ extreme and i got a nice little pennant going
here.. what im going to do with it is another question :D
I will keep drawing them and try to see what i can see :D

But it does look cool!

Image


Finally, I understood where the extreme is. This is the maximum or minimum price of X period of time?

In this case, I drew extreme of the month - right?

So these are the places where we play away from it.



Yeah the way i see it is a candle has 2 extremes.. so if a candle makes a
new 15 day low.. thats a 15day + extreme.. this is what i think MO meas by extreme but i could ofc be wrong but to me it makes sense anyway :D
Last edited by Braathen on Sat Jul 19, 2014 5:02 pm, edited 1 time in total.
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Braathen
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Postby Braathen » Sat Jul 19, 2014 4:59 pm

These channels can be hard to see sometimes.

Recent 15 min PA on EU i found difficult but think i did well :D

Image
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Postby Captain Pugwash » Sat Jul 19, 2014 6:08 pm

Hiya Brathen

Thought I would have a go at the same PA - Because I have so much to to on a Saturday afternoon :D

no idea what I'm doing - but its sure interesting

I know the lines are too close together - there is not enough "breathing room"?? - its trying to maintain the "spirit" of the thing MO shows that is the goal to me.
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Postby MightyOne » Sat Jul 19, 2014 6:16 pm

Braathen wrote:These channels can be hard to see sometimes.

Recent 15 min PA on EU i found difficult but think i did well :D

Image


Image

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Postby MightyOne » Sat Jul 19, 2014 6:23 pm

Captain Pugwash wrote:Hiya Brathen

Thought I would have a go at the same PA - Because I have so much to to on a Saturday afternoon :D

no idea what I'm doing - but its sure interesting

I know the lines are too close together - there is not enough "breathing room"?? - its trying to maintain the "spirit" of the thing MO shows that is the goal to me.


It is so much easier to focus on drawing the
PENNANT ( two lines coming together )
or the
CONE ( two lines moving away from one another)

Try to move away from drawing channels...

the idea is to move you from channels to triangles to having nothing on your charts at all; you will see everything and adjust the lines mentally.

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Postby Captain Pugwash » Sat Jul 19, 2014 6:36 pm

MightyOne wrote:
Captain Pugwash wrote:Hiya Brathen

Thought I would have a go at the same PA - Because I have so much to to on a Saturday afternoon :D

no idea what I'm doing - but its sure interesting

I know the lines are too close together - there is not enough "breathing room"?? - its trying to maintain the "spirit" of the thing MO shows that is the goal to me.


It is so much easier to focus on drawing the
PENNANT ( two lines coming together )
or the
CONE ( two lines moving away from one another)

Try to move away from drawing channels...

the idea is to move you from channels to triangles to having nothing on your charts at all; you will see everything and adjust the lines mentally.


Funny you say that - i just finished marking up this when i read your reply

I could sort of feel there was an error in my markup

Anyway

THANKS
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Postby MightyOne » Sat Jul 19, 2014 6:52 pm

forextrading wrote:
Braathen wrote:So EU just hit a 1month+ extreme and i got a nice little pennant going
here.. what im going to do with it is another question :D
I will keep drawing them and try to see what i can see :D

But it does look cool!

Image


Finally, I understood where the extreme is. This is the maximum or minimum price of X period of time?

In this case, I drew extreme of the month - right?

So these are the places where we play away from it.


An extreme is the highest or lowest prices of a range.

The extremes that we are interested in are older than 2 days & ones where you could realistically see yourself placing/moving a stop to if you were trading nothing but the large chart itself.

Image


That said, do you know how hard it is to trade a monthly chart :lol:

The larger the chart the more 'stuff happens before stuff happens'; your 15m is going crazy, the daily is doing its thing, the weekly is bouncing around, & you still have to find a way to EVENTUALLY shift your focus back to the monthly chart.

Now imagine trading a quarterly or a yearly chart :lol:

That is why I say stick close to 2 days but don't ignore an epic monthly price level if you happen to be backed into one.

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Postby MightyOne » Sat Jul 19, 2014 7:17 pm

Jalarupa wrote:
Image


Hey MO

Quick question regarding this markup on the AU and the previous series that you posted on the EA.

I noted in your last EA markup that you called for further weakness in the PA. Was any of this call based off of intermarket analysis (In other words noting the initial coning and subsequent channel low in the AU), or was it based purely off of the Pennant formation (lower highs) on the EA below?

Image


Just curious, thanks


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