The ideas that I trade by:

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Mar 19, 2016 7:05 am

thepark wrote:
MightyOne wrote:There is something about triangles that makes you fall in love with them :D

XAUUSDecnM1.png



I understand the rationale for drawing the very first small pennant because the price action fits , but afterwards are you just moving the pennant lines down and using those lines as "something", for body in the direction of profit and wick in direction of loss?

thanks.


Notice that I stopped widening the triangle where I could have reasonably drew a large pennant.

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thepark
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Re: The ideas that I trade by:

Postby thepark » Sat Mar 19, 2016 7:23 am

MightyOne wrote:
thepark wrote:
MightyOne wrote:There is something about triangles that makes you fall in love with them :D

XAUUSDecnM1.png



I understand the rationale for drawing the very first small pennant because the price action fits , but afterwards are you just moving the pennant lines down and using those lines as "something", for body in the direction of profit and wick in direction of loss?

thanks.


Notice that I stopped widening the triangle where I could have reasonably drew a large pennant.


It is widened? or are you stating it wasnt widened anymore than the line that goes through 1264.30?

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Mar 19, 2016 8:01 am

thepark wrote:
MightyOne wrote:
thepark wrote:

I understand the rationale for drawing the very first small pennant because the price action fits , but afterwards are you just moving the pennant lines down and using those lines as "something", for body in the direction of profit and wick in direction of loss?

thanks.


Notice that I stopped widening the triangle where I could have reasonably drew a large pennant.


It is widened? or are you stating it wasnt widened anymore than the line that goes through 1264.30?


A triangle, in its simplest form, is a double hook.

There can be mini triangles and the mini triangles can combine into larger triangles...

The triangle doesn't get any wider than the large double hook (HH):

triangle.png
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Mar 19, 2016 3:43 pm

XAUUSDecnM15.png
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Re: The ideas that I trade by:

Postby MightyOne » Sat Mar 19, 2016 4:05 pm

The only things that are important are:

1) use 15* angles.
2) differentiate between hooks and breakouts.

if you do those two things then you can draw them however you wish.


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Re: The ideas that I trade by:

Postby MightyOne » Sat Mar 19, 2016 4:12 pm

1-2-3s
Head & Shoulders
Channels
Forks...
it is all the same thing;
experience is one gives you experience in the other.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Mar 19, 2016 5:18 pm

In school they teach you to see things a certain way, they lock your mind into a herd mentality.

Art is the expression of self, your own creativity, & it is education that you will not find in any textbook.



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v8power
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Re: The ideas that I trade by:

Postby v8power » Sat Mar 19, 2016 5:35 pm

MO. Angles are more of a confirmation idea/tool correct. You already have a trade idea in your head and then use angles to confirm. They really arent used to find trades or help with entries or do they?

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Re: The ideas that I trade by:

Postby MightyOne » Sat Mar 19, 2016 7:53 pm

v8power wrote:MO. Angles are more of a confirmation idea/tool correct. You already have a trade idea in your head and then use angles to confirm. They really arent used to find trades or help with entries or do they?


Ideas & action, not rules and confirmation.

I draw a picture & I trade a picture, but that doesn't mean that the action is a line of the picture; I define the trigger.

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Re: The ideas that I trade by:

Postby MightyOne » Sun Mar 20, 2016 3:41 pm

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