Three Charts

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jrtrading
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Re: Three Charts

Postby jrtrading » Mon Jan 04, 2016 11:22 pm

Just some thoughts on Crude Oil - using horizontal lines for this. It was interesting that price seemed to stabilize at a level above the extreme. A bit unsure about this one.

USOIL.png
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USOIL2.png
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jrtrading
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Re: Three Charts

Postby jrtrading » Thu Jan 07, 2016 12:56 am

Attempt at a cone, NASDAQ 100.
I will need to study this further, just wanted to put it out there.

NQ100.png
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MightyOne
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Re: Three Charts

Postby MightyOne » Thu Jan 07, 2016 6:33 am

Angles are 15* (I think).
It took a bit of thought: considering the fast moves, finding an obvious cone, projecting, quartering, thinking...
but we got'er'done :lol:

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laksh
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Re: Three Charts

Postby laksh » Thu Jan 07, 2016 4:56 pm

MightyOne wrote:Angles are 15* (I think).
It took a bit of thought: considering the fast moves, finding an obvious cone, projecting, quartering, thinking...
but we got'er'done :lol:

jr_003.png


MightyOne wrote:I know that it looks impossible to grasp, but there are just a few simple rules:
1) search for the cone first
2) cut through the "fast moves"
3) use an angle between 13 & 18 degrees
4) search for the median, if you cannot find the median then cut through a fast move,
as if to draw a pennant, to find the high or low. Project the other end and look at the median
then adjust the median, if necessary, and then adjust the high/low of channel accordingly.
5) draw your quarter points. cones may shift and lower prices may become breakouts; as seen
in the picture where the { SHORT } area is a BO from dotted cone...you can tell because the
PA around the dotted line is "spikey" rather than congestion.


Hi MightyOne,

Thanks for sharing your chart analysis. I am learning to draw these lines by applying the rules you mentioned in your earlier post. Few basic questions.

In the chart you marked, intersection of 1 is the cone (red and orange line). After drawing the cone, how to arrive at median? Median do you mean, joining the vertex of the cone to the midpoint of the opposing side?

Please explain the point 4 of your simple rules on this chart.

Thanks.

jrtrading
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Re: Three Charts

Postby jrtrading » Fri Jan 08, 2016 2:47 pm

I am trying to learn how to spot price reversals, to solve the issue of not
being to late to enter, but not trying to pick tops and bottoms.
I have looked at Bredin's video and will do so again.

I included a moving average for now because it may make it easier to spot
if behavior has significantly changed relative to prior price action.
The chart below was thought to show early signs of reversal,
waiting for price to close above something.

Edit: seems that the reversal failed.

nasdaq100.png
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MightyOne
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Re: Three Charts

Postby MightyOne » Fri Jan 08, 2016 6:11 pm

Hi MightyOne,

Thanks for sharing your chart analysis. I am learning to draw these lines by applying the rules you mentioned in your earlier post. Few basic questions.

In the chart you marked, intersection of 1 is the cone (red and orange line). After drawing the cone, how to arrive at median? Median do you mean, joining the vertex of the cone to the midpoint of the opposing side?

Please explain the point 4 of your simple rules on this chart.

Thanks.


Maybe it would be easier to just show you what a median line looks like...

AUDJPYecnDaily.png
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MightyOne
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Re: Three Charts

Postby MightyOne » Fri Jan 08, 2016 6:19 pm

Now let's add some more lines...

AUDJPYecnDaily2.png
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MightyOne
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Re: Three Charts

Postby MightyOne » Fri Jan 08, 2016 6:36 pm

Just tell me if I'm moving too fast...

AUDJPYecnDaily3.png
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Last edited by MightyOne on Fri Jan 08, 2016 10:32 pm, edited 1 time in total.

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MightyOne
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Re: Three Charts

Postby MightyOne » Fri Jan 08, 2016 7:07 pm

This is what you saw on the NASDAQ chart...

AUDJPYecnDaily4.png
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MightyOne
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Re: Three Charts

Postby MightyOne » Fri Jan 08, 2016 7:48 pm

Enter within SPACE when price is moving away from your stop & preferably when price is on the other side of a line; that is all that there is to it.

FLOG (for the love of GOD), don't focus on technical analysis, focus on Space.

Your entry is your stop loss, your trigger is a horizontal line, & everything else is confluence.

AUDJPYecnDaily.png
AUDJPYecnDaily.png (59.91 KiB) Viewed 661 times


EDIT: I always manage to have typos in my pictures...
rush jobs :roll:
EDIT: that is 400 pips of space on that chart.
I marked the chart as if it were a small chart.
I do not recommend using large risk boxes.

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