The ideas that I trade by:

[Jalarupa]

MO I know this has been discussed in the past, but please could you do a quick refresher on PA with reference to a "Double Hook After Momentum" and PA leading out of one...

This is where I got taken out at BE yesterday trying to Fade (yes I'm too early I know But Cones get me excited) the AUDCAD...

Basically I gave myself two options at this trade and due to timezone I missed taking the second trade...



I guess part of the reason for the 2+Daily is the Hook action...? So you let it settle?



h - was the hooks I originally thought they were... only to be shown the true H this morning...


[edit] or maybe I'm just a dumbass for thinking I could ever trade into that MOMO... [/edit] (that thought did cross my mind a few times...) ^_^
As you can see if I stayed in the trade I would have taken a SL

[forextrading]

triangles are everywhere. For now I do not know how to use them.

[forextrading]

all the lines 30 degrees, drawn from hight or low. As I see can be used as a trigger lines to play S / R or extreme.


Pitchfor similar.

[MightyOne]

Learning to draw the DOP will teach you wave analysis...
again, not the kind that you learn in books but the kind that the market itself teaches you.

There are 'triangles everywhere' because there are channels 'everywhere'; a triangle is a channel, a fork is a type of channel, 'head & shoulders' describes a triangle breakout and reentry...it is all connected.

I remember the first time that I really thought about the triangle as more than a pattern; it was while following along to an old Ted Warren seminar.

Ted pointed to the low breakout of a triangle he had drawn (I'm seeing this mentally, it was an audio tape and book) & said that x was a perfect shakeout from a triangle.

My whole world up until that point was trading breakouts from triangles, blinders and all, & now this man was telling me this low breakout was a perfect buy signal!

I was also intrigued by how he drew some of the triangles allowing for these 'shakeouts' (breakouts).

During the seminar he gave me permission to SEE BEYOND THE PATTERN & to use technical analysis to expand sight, not to limit it through definitions.

http://www.amazon.com/Warrens-Advanced-Commodity-Trading-Techniques/dp/B001OXR5OQ/ref=sr_1_4?ie=UTF8&qid=1406227309&sr=8-4&keywords=advanced+commodity+trading+techniques

TRO is right up there with Ted Warren as far as having a great impact on my trading.

When I am in front of my charts I often hear TRO over my shoulder saying "that is interesting...but all you need is a horizontal line".

[MightyOne]

...But yeah everything is relatively obvious in hindsight... Sad

The real developmental area in my view is Foresight... But how should one cultivate such a talent?

By drawing and watching, Jala, by drawing and watching

[MightyOne]

I don't trade triangles, I trade valuable long term positions.

I might initiate a trade because of a triangle, but I will never initiate a trade without position.

So how do you trade a triangle? You don't...

you should already want to go [short] & the triangle (BDP, wickdoll, whatever else) is then seen as confluence.

[Jalarupa]

Thanks,

One day I'm going to get the hang of this properly... Just you wait and see

[doddy]

I am new and very keen to learn. MO can please explain what is BDP, wickdoll ? Will really appreciate.

[Jalarupa]

doddy BDP and wick doll is a concept much like a Fibonacci retracement after a move in a certain direction...

The move itself is the BDP (Body in direction of Profit - also refers to large candle bodies) and the wick doll is the WICK IN DIRECTION OF LOSS (al referring to the counter move back into the initial move AKA the PULL BACK

You should enter on a wick in the direction of profit...





You should read the thread Blind mouse strategy to familiarize yourself further...

http://kreslik.com/forums/viewtopic.php ... lind+mouse

The concepts of Position management is discussed in the thread Space Wars (although it may confuse you, but if you understand Money management the way MO is laying it down in here then you should stick to that.... If not then you should read it...

http://kreslik.com/forums/viewtopic.php ... space+wars

If you want further insight into Cones and Pennants then you should read MO's MBT Micro

http://kreslik.com/forums/viewtopic.php ... =mbt+micro

[doddy]

Jala; You so helpful, appreciate all your guidances, woah did not know that there is so more much much more to it.
Really appreciate you points the way.