No Jal - that's not what I meant - thanks anyway mate
mine feels more...spidery? and spaced out? (probably those mind altering drugs)
zooming don't help either
yep - i agree with your markup - failure after failure etc etc -
The ideas that I trade by:
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- Captain Pugwash
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Re: The ideas that I trade by:
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
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Re: The ideas that I trade by:
MightyOne wrote:I am mostly interested in 'double failures':
Lower high (failure 1), breakout of lower high but does not close higher (failure 2)
price is in a down-trend, there is a higher high that fails to close higher (1), there is a breakout of that higher high but price fails to close higher (2).
Two is a trend
If you are simply trying to get in on a good thing then you can use any long term breakout as your stop:
Am I understanding correctly that you spot reversals as such?
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Re: The ideas that I trade by:
For examples and understanding.
Am I clear on this?
Do you exit and plan entries around this?
Thanks
Am I clear on this?
Do you exit and plan entries around this?
Thanks
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Re: The ideas that I trade by:
rahimseven wrote:MightyOne wrote:I am mostly interested in 'double failures':
Lower high (failure 1), breakout of lower high but does not close higher (failure 2)
price is in a down-trend, there is a higher high that fails to close higher (1), there is a breakout of that higher high but price fails to close higher (2).
Two is a trend
If you are simply trying to get in on a good thing then you can use any long term breakout as your stop:
Am I understanding correctly that you spot reversals as such?
Yes, but I will trade in anticipation of a second failure on a small chart.
When the candle finally does close lower I call it 'conformity'; 'confirmation' is waiting for something to happen, 'conformity' is doing something first and expecting things to follow suit.
Don't get carried away though, if there is a LH breakout and there is no short term signal to go short or the daily candle is getting a bit long then there is no expectation of failure.
Re: The ideas that I trade by:
rahimseven wrote:For examples and understanding.
Am I clear on this?
Do you exit and plan entries around this?
Thanks
If price closes above the extreme of the higher low then it is a double failure.
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Re: The ideas that I trade by:
Captain Pugwash wrote:No Jal - that's not what I meant - thanks anyway mate
mine feels more...spidery? and spaced out? (probably those mind altering drugs)
zooming don't help either
yep - i agree with your markup - failure after failure etc etc -
I use 2 candles + the active candle when looking at large charts; if I need more information then I will look for it but I try to focus on 'recent' information.
There is always more to be explored though
- Captain Pugwash
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Re: The ideas that I trade by:
Thanks MO ( although I think we talk at cross purposes this time)
I suddenly got your reasoning on that chart - It sort of fitted my brain (I hope)
I am including a long I have on GU and what I would have done if I understood a day earlier - also how i might use some of this information going forward.
In your loonie example - it strikes me I could put in a pending on the line even if I'm at work (space being above the high)- or should I really be looking at my own PA box of tricks to hone an entry- THANKS - even tho your not here
I suddenly got your reasoning on that chart - It sort of fitted my brain (I hope)
I am including a long I have on GU and what I would have done if I understood a day earlier - also how i might use some of this information going forward.
In your loonie example - it strikes me I could put in a pending on the line even if I'm at work (space being above the high)- or should I really be looking at my own PA box of tricks to hone an entry- THANKS - even tho your not here
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
- Captain Pugwash
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Re: The ideas that I trade by:
Sorry MO, in retrospect the above chart is confusing (although how I imagine I will use the info to show price entering a supply (Demand) area)
I hope the below chart is more what I should be expecting to see happen - imagining a break up i mean (made up by me)
I hope the below chart is more what I should be expecting to see happen - imagining a break up i mean (made up by me)
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
Re: The ideas that I trade by:
Captain Pugwash wrote:Sorry MO, in retrospect the above chart is confusing (although how I imagine I will use the info to show price entering a supply (Demand) area)
I hope the below chart is more what I should be expecting to see happen - imagining a break up i mean (made up by me)
Trading is placing stops, accumulating lots, & normalizing risk; forget about pips and just focus on those three things.
Liquidate when you hit your %gain...anywhere from 39 to 58.5% is a good target to reset your space (+0 in 5-7 ideas).
Capture space every 3 steps: enter 2, +2, +2, exit or 2, +1, +3, exit.
Sidestep any 'obvious' retrace.
Again, pips have nothing to do with you; they do their own thing
Your job is simply to make sure that you get paid when price decides to make a large move.
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Re: The ideas that I trade by:
MightyOne wrote:
Yes, but I will trade in anticipation of a second failure on a small chart.
When the candle finally does close lower I call it 'conformity'; 'confirmation' is waiting for something to happen, 'conformity' is doing something first and expecting things to follow suit.
Don't get carried away though, if there is a LH breakout and there is no short term signal to go short or the daily candle is getting a bit long then there is no expectation of failure.
If I understand right - can i assume that if we did NOT see "conformity" - i.e we got a close back up in the zone ( in your example) - I should be thinking of liquidating a position at the best price? - Having a plan for when things do not go as planned sort of thing?
Also any gained space is not necessarily used on the same pair - nice if it happens but not essential? just take your lot size and use it on the next double failure?
Maybe one proviso - I may decide to ignore only if i believe I hold a yearly extreme
Thanks for not being here btw
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
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