The ideas that I trade by:

[courier12]

Hi MO,

I understand you are looking at 1/8th's of the prior month / week. However this applies only when you are inside the prior month's range.

What happens once you breakout of the prior month's range? Do you look left and see which monthly candle price is coming into? or do you project the prior month in 8th's above the prior month high and below the prior month low?

Also, in a more general sense, do you always look at High, Low and midpoint of the prior time period candle only or also look at these from the earlier time periods in any timeframe?
Thank you

[MightyOne]

Hi MO,

I understand you are looking at 1/8th's of the prior month / week. However this applies only when you are inside the prior month's range.

What happens once you breakout of the prior month's range? Do you look left and see which monthly candle price is coming into? or do you project the prior month in 8th's above the prior month high and below the prior month low?

Also, in a more general sense, do you always look at High, Low and midpoint of the prior time period candle only or also look at these from the earlier time periods in any timeframe?
Thank you

I will look left for rejections and groups of closes around a narrow price range (call it a 'thick' line), nothing that one cannot easily grasp.

It is more about seeing things that generate ideas &/or lead to strategic decisions than about always doing xy&z.

CADJPYMonthly.png (35.56 KiB) Viewed 3548 times

[Mira]

Hi MO,

I understand you are looking at 1/8th's of the prior month / week. However this applies only when you are inside the prior month's range.

What happens once you breakout of the prior month's range? Do you look left and see which monthly candle price is coming into? or do you project the prior month in 8th's above the prior month high and below the prior month low?

Also, in a more general sense, do you always look at High, Low and midpoint of the prior time period candle only or also look at these from the earlier time periods in any timeframe?
Thank you

I will look left for rejections and groups of closes around a narrow price range (call it a 'thick' line), nothing that one cannot easily grasp.

It is more about seeing things that generate ideas &/or lead to strategic decisions than about always doing xy&z.



CADJPYMonthly.png

Discretionary trader since the first day!

[courier12]

Hi MO,

I understand you are looking at 1/8th's of the prior month / week. However this applies only when you are inside the prior month's range.

What happens once you breakout of the prior month's range? Do you look left and see which monthly candle price is coming into? or do you project the prior month in 8th's above the prior month high and below the prior month low?

Also, in a more general sense, do you always look at High, Low and midpoint of the prior time period candle only or also look at these from the earlier time periods in any timeframe?
Thank you

I will look left for rejections and groups of closes around a narrow price range (call it a 'thick' line), nothing that one cannot easily grasp.

It is more about seeing things that generate ideas &/or lead to strategic decisions than about always doing xy&z.





CADJPYMonthly.png

Thank you MO. I have been focusing only on highs and lows, so "groups of closes in a narrow price range" is something I will look for going forward. The chart is very helpful,
Thank you!
Edit: My reply came within quotes, so had to edit and put it below the quotes

[MightyOne]

The significance of the closing prices degrades as you get below H3, H1 is the lowest chart where I would even consider them.

Looking at the mini-charts, can you see some areas where you would like to travel to next?

CADJPYH1.png (43.03 KiB) Viewed 3494 times

[courier12]

The significance of the closing prices degrades as you get below H3, H1 is the lowest chart where I would even consider them.

Looking at the mini-charts, can you see some areas where you would like to travel to next?

CADJPYH1.png

Thank you MO!2

On the W1 mini chart, I'd say price wants to get to 84.419 - 2 highs (rejection) there, then a close and finally a breakout.

On the H4, price is reacting from the double low and close rejection at around 85.089.

Thoughts?

[Mira]

Late charts (I hadn't time to post before)

I don't know how many times I said "thank you MO"
but THANK YOU MO

This is a demo trade I took today, the drop was too fast and I wasn't able to add size.
Wickdolls are still confusing me because I don't understand if I need a closed candle unable to close over a line or a current candle unable to close over a line..

Anyway, price wasn't closing over:

IMG_2556.PNG (70.78 KiB) Viewed 3512 times

(To Courier12, if I can help, I based my short on D1 closes+rejections, like MO said)

IMG_2557.PNG (58.83 KiB) Viewed 3512 times

[nat]

If im in a short trade on the hourly with a risk box of 2 lines and price comes hits the top, instead of closing i cut my position in half, would that make it so my risk box is 4 lines worth half as much now without moving my risk box? sorry if thats confusing, it makes sense in my head. thanks

[MightyOne]

If im in a short trade on the hourly with a risk box of 2 lines and price comes hits the top, instead of closing i cut my position in half, would that make it so my risk box is 4 lines worth half as much now without moving my risk box? sorry if thats confusing, it makes sense in my head. thanks

It is based on your remaining space so you would need to have 2 lines remaining in order to have 4 lines after you cut your size in half.

(positionSize / newPositionSize) * remainingSpace

[paweldobkowski]

Geez i'm so sorry Jala i asked a question (back on page 370) and just left inpolitely - you even asnwered, thank You for that.
Also Mr. Hyde gave me a great answer - thank You!

I just marked 8 years since i started - much more enjoyable now.
Still under impression that becoming profitable took longer than it would to become a gold medal olympian
Lots learned over the years. Surprisingly more about myself than trading.

Remember my first strategy was to wait for 3 same color candles and trade the way that they were going,
then i came here and You guys were playing BUZZARD. Should be funny for those who remember BUZZARD

Some time after that i came up with an idea to open opposite positions at once then wait for the "direction" and just close one and ride the other.
Should be funny for those who remember logic

WHERE IS DRAGON? WHERE IS ESPIP? Went a little romantic here. I'm sorry.