How to be a MOnster

[v8power]

You have a downtrend on the left with green lines drawn marking zline, S/R. Look how prices turns right at the green lines creating a high pivot (resistance) for us to draw a blue line from. Then resistance then becomes support and prices continues up. Price then comes to a dragon line which is also at a DWM + high. That's why that last green momo bar created on 7/7 is suspect. Your at the end of a possible trend, not the beginning. Then we get a down momo bar that closes over a something line (which creates a doji box). Price bounces at support and retraces back to the doji box or the mzone. SELL, SELL, SELL. Price also made that crown pattern you and Mr. Hyde like.

Now you mentioned we don't know the strength of the move from a possible 123 but you can take a look guess. If price retest the 2 point and it holds then we can look for price to make it to the zline at the 111 area which is also where the H&S move would be (confluence). Then we also know that price will make it to the median line 80% of the time. Oh that median line intersects with a zline (confluence). You now have very good reasons for selling the UJ until around 109 (unless price closes over a line consider resistance). Possible 400 pip move you could have gotten in with a 20-30 pip sl. Just a measly 20 to 1 RR.

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[v8power]

You have a downtrend on the left with green lines drawn marking zline, S/R. Look how prices turns right at the green lines creating a high pivot (resistance) for us to draw a blue line from. Then resistance then becomes support and prices continues up. Price then comes to a dragon line which is also at a DWM + high. That's why that last green momo bar created on 7/7 is suspect. Your at the end of a possible trend, not the beginning. Then we get a down momo bar that closes over a something line (which creates a doji box). Price bounces at support and retraces back to the doji box or the mzone. SELL, SELL, SELL. Price also made that crown pattern you and Mr. Hyde like.

Now you mentioned we don't know the strength of the move from a possible 123 but you can take a look guess. If price retest the 2 point and it holds then we can look for price to make it to the zline at the 111 area which is also where the H&S move would be (confluence). Then we also know that price will make it to the median line 80% of the time. Oh that median line intersects with a zline (confluence). You now have very good reasons for selling the UJ until around 109 (unless price closes over a line consider resistance). Possible 400 pip move you could have gotten in with a 20-30 pip sl. Just a measly 20 to 1 RR.

usdjpy-d1-fx-choice-limited-4.png
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Would love to hear others comments or thoughts

[v8power]

HTF reason behind you and your golden. When looking at a chart make it tell u a story. No story no trade.

[Mira]

Prices enters box and then we wait for it to exit for a short trade and it creates the 3 point.

Thank you V8!

I've been on all your posts and they are very clear.
From the "Story Telling" about PA (MO told me the same many times) to the "Look Left" concept, that I'm not using.. I always look at the current price action with no idea of the Big Picture

I'm quoting those specific word because I'm still missing this part, I'm using limit orders or entering the trade when price enters the zone.. were you referring to the wick in direction of loss? How do you SEE/trade it?

Thank you much!

[Mira]

Simple. HTF trump STF.

When it's time to move it's time to move

You can make arguments for long trades but there is not much that you can point to as a reason for holding long.

for_you.png

Thank you MO!

Why not? Price was closing higher, there was a 1-2-3 and a smaller 1-2-3 pushing from the middle and the downtrend was broken.
I would have took profits anyway at that tops, but didn't price give the idea that it was raising?

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[MightyOne]

My current strategy is to exit at the low extreme & if price seems unwilling then exit on an up-sloping line.

If that doesn't work...figure something out & quick

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[v8power]

Simple. HTF trump STF.

When it's time to move it's time to move

You can make arguments for long trades but there is not much that you can point to as a reason for holding long.

for_you.png

Thank you MO!

Why not? Price was closing higher, there was a 1-2-3 and a smaller 1-2-3 pushing from the middle and the downtrend was broken.
I would have took profits anyway at that tops, but didn't price give the idea that it was raising?

IMG_0896.PNG

The short answer was it was a head fake. Big boys ran price up so they could continue down. Remember it takes billions of dollars to get these big moves. So when price has already moved a good distance then it need billions more to keep moving. But the big boys don't sell at the low, but at the high with there stops above resistance (hum who says place you stops at 2 day xtremes ).

[v8power]

Yellow lines are my "something line". Purple is the up trend line. Black box is area were horz lines intersect angles. Red lines were drawn at 15 and I cut through a hook the placed its opposite nwhich offered confluene with the black box.

Price is currently at a support and trend line. Good chance it will bounce up, find resistance and then sell off again.

[MightyOne]

Congratulations on reaching 1000+ posts v8power!

[v8power]

Congratulations on reaching 1000+ posts v8power!

Haha thanks.