THE MACRO PIP

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MightyOne
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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 4:19 pm

Joe Pipette wrote:That chart is all needed to know. No entry long. Short entry at red mark - last candle red. Clear now.


I am happy that you are growing in understanding. =D>

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MightyOne
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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 5:35 pm

I have picked this section of the chart to show how I would draw the line if there is a price gap.

Mechanical trades are imperfect, but if you are always trading in the direction of profit then you
will have the best of it.

Although the long was missed because price did not come down to the trigger, you could have entered
using decision points.

The core of the strategy is the 'direction of profit' (the trade conditions).

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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 6:54 pm

When you draw a line on the open price of the breakout candle it creates what we
refer to as a 'zero line'.

Many traders choose to trade to and away from these lines as part of their strategy:

AUDUSDDaily.png
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TheRumpledOne
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Re: THE MACRO PIP

Postby TheRumpledOne » Sun Jul 05, 2015 7:41 pm

PRICE ACTION

“Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame .

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.”
- H. Rearden

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 9:11 pm

TheRumpledOne wrote:PRICE ACTION

“Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame .

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.”
- H. Rearden

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.


Everything but 'Space' is a TRO strategy or some variation of TRO strategy.

The 'Buzzard', which I am sure no one remembers, has been modified to be
'3 candles with consecutively larger or smaller bodies'

I try to give him credit, but he is a humble man :mrgreen:

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TheRumpledOne
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Re: THE MACRO PIP

Postby TheRumpledOne » Sun Jul 05, 2015 9:32 pm

BUZZARD REVERSAL - after 3 or more consecutive like-colored H1 candles.. you wait for the current candle to reverse in color
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 9:40 pm

TheRumpledOne wrote:BUZZARD REVERSAL - after 3 or more consecutive like-colored H1 candles.. you wait for the current candle to reverse in color


Thanks for the reminder TRO, it has been years since I have seen a post about it.

...or some variation of TRO strategy

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Re: THE MACRO PIP

Postby MightyOne » Sun Jul 05, 2015 9:56 pm

Bodies, Wicks, & Horizontal lines:

eurusddaily.png
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Re: THE MACRO PIP

Postby TheRumpledOne » Sun Jul 05, 2015 10:44 pm

gbpusddaily.png
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Memories...
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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TheRumpledOne
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Re: THE MACRO PIP

Postby TheRumpledOne » Sun Jul 05, 2015 10:48 pm

NZDUSDWeekly.png
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BUZZARD REVERSAL CANDIDATE!

fyi... the white line is the weekly open... not a squiggly...lol :roll:
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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