ZL, D+ extremes, TL breaks, cones

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

thepark
rank: 50+ posts
rank: 50+ posts
Posts: 101
Joined: Fri Jul 09, 2010 5:00 pm
Reputation: 70
Gender: None specified

Re: ZL, D+ extremes, TL breaks, cones

Postby thepark » Sat Dec 05, 2020 3:02 pm

Jalarupa wrote:Happy to be here thanks thepark!

Image

This is how I see it... I like to watch price behavior at these lines... Normally you get an initial rejection, followed by either a break or a validation of the lines' ability to support or resist price...

This will frame initial bias and plans for longer term moves (targets)

Herewith my thoughts...

Image

In respect to a short next week... If you already short that's great... you in the money! If you looking to get short, you can trade rejection of the intra-day lines... But if you were looking for a long entry then you would know very quickly if you are correct, as you are currently near / at support...

I don't know if this helps at all... but looking at the price run into the close of the week, EUR is being offered... But I still see it hitting 1.22 at some stage in the next couple of weeks... at least this is where a short target of mine is, so I would expect it to get there...

In respect with your analysis, it looks great! You will know fairly quickly when you are right or wrong, and this at the end of the day is the most important thing to see if you want to keep your losses small and give your winners time to do better for you.

- Jala


thanks for the detailed markup Jala. those lines on the monthly chart is an eye opener for me and is something i will look to adopt. I have always been intimidated by the larger charts but the way you have marked them up make so much sense

in terms of your H4 chart you have a line - short confirmed good if below. how did you derive that line?

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
Jalarupa
rank: 1000+ posts
rank: 1000+ posts
Posts: 1288
Joined: Tue Feb 23, 2010 5:50 pm
Reputation: 311
Location: South Africa
Gender: None specified
Contact:

Re: ZL, D+ extremes, TL breaks, cones

Postby Jalarupa » Sat Dec 05, 2020 3:50 pm

Hi,

The line was derived from the bottom cone low... Its the ultimate support in the range / flag pattern +- 70 Pips from current price... My hunch is if selling gets going, then this is where the bulls will have their last push, but if that breaks, then you going to see much lower values...

It depends on how you like to trade... I tend to scalp a lot intra-day and position myself at range extremes (daily+ extreme) to try and ride the big move... The thing with cones is, as I'm sure you've noticed... The trend-line is most strong as an opposing force when it has been broken and revisited... So in other words, you get the very best bang for your buck when you sell at a upward sloping line... and vice versa...

I must confess however that I am not showing the full picture of what I am seeing, but only enough to help you see more... The beauty of this journey of exploration is it takes a lot of revisiting and testing and trial and error for you to find the 'right' formula... I've been at this trading thing for 10 years now and have only just recently learnt how to see... teaching yourself is a real trial by fire, but believe me, its really worth it, when it clicks!

-Jala

User avatar
Jalarupa
rank: 1000+ posts
rank: 1000+ posts
Posts: 1288
Joined: Tue Feb 23, 2010 5:50 pm
Reputation: 311
Location: South Africa
Gender: None specified
Contact:

An Update (even though you didn't ask for one)

Postby Jalarupa » Tue Dec 08, 2020 6:58 pm

Mid week update...

Be aware of the Bull flag...

Image

Image

The PA compression on the H4, shows us that there is a big move being setup here... So be on the lookout for a breakout and pull back that gets rejected... similar stuff happening on EURUSD - Yen is looking weak in the face of risk on, so this could be the play... unless its risk off, then we heading lower with force for sure... SPX is hitting all time highs (double top), although it looks as though a move higher may be offered around 3712ish...

Who knows really? keep trading levels and watch closely for confirmed breaks... (pull back to Zline and a close above a trendline)

thepark
rank: 50+ posts
rank: 50+ posts
Posts: 101
Joined: Fri Jul 09, 2010 5:00 pm
Reputation: 70
Gender: None specified

Re: ZL, D+ extremes, TL breaks, cones

Postby thepark » Wed Dec 09, 2020 2:30 pm

Thanks for the update Jala...It has been a roller coaster for me as I was hoping for an easy break downward. I should have just scalped some shorts instead of holding for the break downwards..

It's hard to get in early and hold on and have it eventually go against you, but if you enter on the break down you wont be able to get a good price. I'm still short...

Image

User avatar
IgazI
rank: 150+ posts
rank: 150+ posts
Posts: 270
Joined: Sat Feb 17, 2018 5:28 pm
Reputation: 295
Gender: None specified

Re: ZL, D+ extremes, TL breaks, cones

Postby IgazI » Wed Dec 09, 2020 3:14 pm

Have you tried just ignoring the #1 point and encapsulating the swings?

I think the perfect place to place an angle is where it best describes what you are seeing.

for_klik.png
for_klik.png (71.56 KiB) Viewed 883 times

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

thepark
rank: 50+ posts
rank: 50+ posts
Posts: 101
Joined: Fri Jul 09, 2010 5:00 pm
Reputation: 70
Gender: None specified

Re: ZL, D+ extremes, TL breaks, cones

Postby thepark » Wed Dec 09, 2020 3:40 pm

IgazI wrote:Have you tried just ignoring the #1 point and encapsulating the swings?

I think the perfect place to place an angle is where it best describes what you are seeing.

for_klik.png


thats a cool way of looking at it that i never thought of. i m still learning how to interpret angles in general but looking at your chart the only placed i would have shorted is around 126.5 which was a swing downward and break-in although it was kind of scary at that area

my attempt at EU, close below and swing high short on any of the two upward sloping lines? or short around 1.123
Image

User avatar
IgazI
rank: 150+ posts
rank: 150+ posts
Posts: 270
Joined: Sat Feb 17, 2018 5:28 pm
Reputation: 295
Gender: None specified

Re: ZL, D+ extremes, TL breaks, cones

Postby IgazI » Wed Dec 09, 2020 4:37 pm

thepark wrote:
thats a cool way of looking at it that i never thought of. i m still learning how to interpret angles in general but looking at your chart the only placed i would have shorted is around 126.5 which was a swing downward and break-in although it was kind of scary at that area

my attempt at EU, close below and swing high short on any of the two upward sloping lines? or short around 1.123


I don't really focus on entries because trading is just placing and moving a stop loss;
how you place and move your stops within the risk parameters that you set for yourself determines 'how' you enter.

I just use 3 and 5 point range bar line charts, an average line w/ projections, and a retracement tool for adding size.

I don't really draw on my charts until I print them off.

myCharts.png
myCharts.png (103.74 KiB) Viewed 865 times

User avatar
IgazI
rank: 150+ posts
rank: 150+ posts
Posts: 270
Joined: Sat Feb 17, 2018 5:28 pm
Reputation: 295
Gender: None specified

Re: ZL, D+ extremes, TL breaks, cones

Postby IgazI » Thu Dec 10, 2020 2:54 am

I don't trade individual stocks, I was just curious what the 15 degree angles would look like on the H1 Tesla chart...

tesla.png
tesla.png (104.37 KiB) Viewed 770 times

User avatar
Jalarupa
rank: 1000+ posts
rank: 1000+ posts
Posts: 1288
Joined: Tue Feb 23, 2010 5:50 pm
Reputation: 311
Location: South Africa
Gender: None specified
Contact:

Re: ZL, D+ extremes, TL breaks, cones

Postby Jalarupa » Thu Dec 10, 2020 7:19 am

thepark wrote:Thanks for the update Jala...It has been a roller coaster for me as I was hoping for an easy break downward. I should have just scalped some shorts instead of holding for the break downwards..

It's hard to get in early and hold on and have it eventually go against you, but if you enter on the break down you wont be able to get a good price. I'm still short...



Image

I find playing the opposite (extreme) of the fractal (PA) into a breaking point (break down /up) is a good way to do it... If you have a goal in mind, then you can see what should happen for that goal to manifest...

No doubt, getting in early is murder! Yesterday I got smoked trying to catch the long entry (from the bottom channel - My last trade with ironically my tightest stop, got taken out and 3 pips later we see the reversal (I was asleep), but now that its happened, I need to be able to get in on the action somehow... right?

User avatar
Jalarupa
rank: 1000+ posts
rank: 1000+ posts
Posts: 1288
Joined: Tue Feb 23, 2010 5:50 pm
Reputation: 311
Location: South Africa
Gender: None specified
Contact:

Re: ZL, D+ extremes, TL breaks, cones

Postby Jalarupa » Thu Dec 10, 2020 9:54 am

Image

and I'm out of this scalp... Obviously needed a tighter stop to begin with... Slightly over 1:1

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”