The ideas that I trade by:

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v8power
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Re: The ideas that I trade by:

Postby v8power » Sun Feb 14, 2016 5:31 pm

My chart analysis for a longer term trade (W,M,L) for gbp/usd. Monthly chart just hit 8 year old support. Weekly chart is at the low extreme for profit taking, from past downtrend. Daily candles showing increase in momo up, also have a nice fatcat candle for support. Could have gotten in really early at 1.4180 or 1.4350. looking for weekly and monthly candle to close above 1.4800. That's just how I think I would play it off a yearly low.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sun Feb 14, 2016 5:48 pm

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v8power
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Re: The ideas that I trade by:

Postby v8power » Sun Feb 14, 2016 6:10 pm

Are you saying that I could have used the crash zone earlier. Or to use it with upcoming price action? Chart shows last weeks crash zones and the blue rectangles and daily+ extremes that could have been used to enter (I know you know that MO, just for anyone else reading).

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Re: The ideas that I trade by:

Postby MightyOne » Sun Feb 14, 2016 9:34 pm

v8power wrote:Are you saying that I could have used the crash zone earlier. Or to use it with upcoming price action? Chart shows last weeks crash zones and the blue rectangles and daily+ extremes that could have been used to enter (I know you know that MO, just for anyone else reading).


In the picture I was suggesting a plan of attack to enter on a smaller chart (15?) within the Buy-zone, exit/reverse from the CZ, re-enter/reverse using small chart after the break-in...which no doubt crashed into a zone that was projected down from the high.

Do not think to trade patterns/levels directly, but use them to form a plan of attack on the fly using the ideas of Space.
It is often the case that I hold my first thoughts in my head as I trade the short term & then revert back to my original thoughts.
For instance, you might have a pattern on a daily chart. Short-term price is all over the place, but longer term your thoughts are
of an expansion in one direction or the other.

I never say to myself "if this happens then I am going to do that"; I treat every situation as unique.

The 3-2-1 is what I call the "Modified Buzzard" & it is simple 3 body sizes that are either consecutively larger or smaller.
I look for the string of candles to also be the same color, but if the body is small (doji/hanging man/hammer/etc) then it can be either color.

When price nears a level, that traders are mindful of, the bodies tend to shrink.
Price will either move slowly and then race to a level or move quickly and then "stall".

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A final push after "shrinkage" is also common.
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Small patterns, like these & "Little Devils", are more powerful on larger charts like H1+

v8power
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Re: The ideas that I trade by:

Postby v8power » Sun Feb 14, 2016 10:14 pm

Oh yea, I always fine tune my entry off of 5-15min tmf. Yea last week on G/U you could easily have riden price up to the crash zone, down and back up again. I just happened to reread the blind mouse thread this weekend so I was looking at that plus some of your other ideas for trying to catch the yearly extreme.

Here is another that I mocked up really quick. Its eur/aud. On the daily you have a double failure set-up. On the weekly you have a fatcat resistance line at 1.5700 that also crosses right through a down momo. And the same line 1.5700 also crosses right through a down momo on the monthly. These are just my bastardise versions of your ideas. They kind of just stood out to me, so I figured I would post them. I also love using the crash zone, daily+extremes and zlines/momo.

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Re: The ideas that I trade by:

Postby v8power » Sun Feb 14, 2016 10:35 pm

Here was a real easy way to trade the G/U last week. Wait for price to reach the crash zone then use a rat trade within 20 pips of the daily extreme and enter. Hold until you hit the opposite zone and exit. Wait for your next setup and trade back. You could have done it three time for 500+pips. Just exactly what you have been saying all along. All trades taken at daily+extremes with the sl outside of the 2day high or low. But that's just how I would use MO's ideas and lessons. Not saying there right at all.

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Re: The ideas that I trade by:

Postby v8power » Sun Feb 14, 2016 10:45 pm

Also thank you MO for adding shrinkage and 3-2-1 to my knowledge. I love when you just mention simple ideas or knowledge in your posts. Its taking those pieces and adding them to everything else that just makes trading that much easier. What is a "little devil"?

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sun Feb 14, 2016 11:06 pm

v8power wrote:Also thank you MO for adding shrinkage and 3-2-1 to my knowledge. I love when you just mention simple ideas or knowledge in your posts. Its taking those pieces and adding them to everything else that just makes trading that much easier. What is a "little devil"?


This is a "Little Devil".

v8power
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Re: The ideas that I trade by:

Postby v8power » Sun Feb 14, 2016 11:35 pm

Alright you got me stumped. Im sure what I see isn't even remotely close to what your trying to show me. But I see 2 candles with higher/lower extremes (horn)then a candle in the middle (head). Then it looks like you have a angled line running from the 1st extreme. I attached a chart to try and show you what I am seeing. Red arrow up is horn, red x is the head. Try not to laugh to hard at my explanation.


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Re: The ideas that I trade by:

Postby MightyOne » Mon Feb 15, 2016 1:28 am

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