ProchargedMopar's Trading Trilogy

[MightyOne]

You could have scalped short, but I believe that we are still long term bullish above 132.50.

I am going to say wait for an advance before taking any actions:

You picked the last "zero" line within a tick.
132.50.

This chart price did not make a NEW high. (133.20)
Should we be trading short after we make another new lower high?
It appears to be zeroed about 132.65 and ready to go long for a bit.
WAIT?
I will not be trading for another 6.5hrs---Asian session.

[pierre23]

Mo, I know you say body is truth, but is this still correct? The last image that I posted was from the wick also. Or does it only really count if it's from the body?

[pierre23]

[prochargedmopar]

+53.1 today.
$111.87
0 losses.
Watched the e/j drop 85 pips as my mind was thinking LONG BIAS.
That's what I get for thinking.

11396643 EUR/JPY 20 B 133.003 133.083 8 16.84 0.00 5/25/2009 20:02 5/25/2009 20:13
11396869 EUR/JPY 20 B 132.935 133.083 14.8 31.16 0.00 5/25/2009 20:07 5/25/2009 20:13
11396924 EUR/JPY 20 B 133.015 133.083 6.8 14.32 0.00 5/25/2009 20:10 5/25/2009 20:13
11396567 EUR/JPY 20 B 132.944 132.976 3.2 6.74 0.00 5/25/2009 19:58 5/25/2009 20:00
11396535 EUR/JPY 20 B 132.906 132.976 7 14.75 0.00 5/25/2009 19:55 5/25/2009 20:00
11396208 EUR/JPY 20 B 132.831 132.843 1.2 2.53 0.00 5/25/2009 19:41 5/25/2009 19:41
11395830 EUR/JPY 20 S 132.638 132.622 1.6 3.38 0.00 5/25/2009 19:14 5/25/2009 19:15
11395812 EUR/JPY 20 S 132.654 132.622 3.2 6.75 0.00 5/25/2009 19:12 5/25/2009 19:15
11395485 EUR/JPY 20 S 132.816 132.745 7.1 14.98 0.00 5/25/2009 18:59 5/25/2009 19:05
11395537 EUR/JPY 20 S 132.747 132.745 0.2 0.42 0.00 5/25/2009 19:02 5/25/2009 19:05

[MightyOne]

New waves and new information do come into the market place PRO:

+53.1 today.
$111.87
0 losses.
Watched the e/j drop 85 pips as my mind was thinking LONG BIAS.
That's what I get for thinking.

11396643 EUR/JPY 20 B 133.003 133.083 8 16.84 0.00 5/25/2009 20:02 5/25/2009 20:13
11396869 EUR/JPY 20 B 132.935 133.083 14.8 31.16 0.00 5/25/2009 20:07 5/25/2009 20:13
11396924 EUR/JPY 20 B 133.015 133.083 6.8 14.32 0.00 5/25/2009 20:10 5/25/2009 20:13
11396567 EUR/JPY 20 B 132.944 132.976 3.2 6.74 0.00 5/25/2009 19:58 5/25/2009 20:00
11396535 EUR/JPY 20 B 132.906 132.976 7 14.75 0.00 5/25/2009 19:55 5/25/2009 20:00
11396208 EUR/JPY 20 B 132.831 132.843 1.2 2.53 0.00 5/25/2009 19:41 5/25/2009 19:41
11395830 EUR/JPY 20 S 132.638 132.622 1.6 3.38 0.00 5/25/2009 19:14 5/25/2009 19:15
11395812 EUR/JPY 20 S 132.654 132.622 3.2 6.75 0.00 5/25/2009 19:12 5/25/2009 19:15
11395485 EUR/JPY 20 S 132.816 132.745 7.1 14.98 0.00 5/25/2009 18:59 5/25/2009 19:05
11395537 EUR/JPY 20 S 132.747 132.745 0.2 0.42 0.00 5/25/2009 19:02 5/25/2009 19:05

[JESGPY]

MO is this 1-2-3- strategy?

JUAN

[MightyOne]

You can do whatever you want to as there are no rules in trading.

Still, I wonder why you would choose a method of analysis that can so easily be manipulated.

If price spikes down to fill an order and immediately returns does that make the low significant?

Here is a spike caused by a bad price on the EURJPY Weekly.

If it were a real move, and price moved to new weekly highs, would
you consider the bottom of the spike to be the largest decline which
returned to the highs or would you use the bodies as shown by the red
boxes?

Mo, I know you say body is truth, but is this still correct? The last image that I posted was from the wick also. Or does it only really count if it's from the body?

[pierre23]

Ah ok. I would use the body's, and no it wouldnt make the low significant if it spikes down then returns to where it was. Thanks for explaining.

[MightyOne]

No, it is just common sense (which is never common).

When gasoline prices were so fast that every day it seemed to be 10-15 cents higher you could expect that there is no relief in sight.

Gas tops out at $4.20 a gallon and all of the sudden price falls by 30 cents to $3.90.
Although you may not remember what the largest decline was that lead to new highs at the pump you know that you were never given a 30 cent break on the way to $4.20.

Chances are then that price will not soon rise to $4.20 a gallon.
So instead of filling up every day to save money you would fill up 1/3 or 1/2 to take advantage of the falling gas prices.

It works the same on the street level as it does in the markets.

MO is this 1-2-3- strategy?

JUAN

[razorboy]

the whole wick concept and biggest decline in an advance idea are crystal clear (I notice you never structure it as biggest advance in a decline, although I guess you could, as long as you dont flip back and forth between concepts - or maybe i missed that) - to me, the real challenge is picking the "right" time frame for your analysis and action

having said that, this http://articles.mql4.com/444 and http://articles.mql4.com/376 deserves some playing with for sure

You can do whatever you want to as there are no rules in trading.

Still, I wonder why you would choose a method of analysis that can so easily be manipulated.

If price spikes down to fill an order and immediately returns does that make the low significant?

Here is a spike caused by a bad price on the EURJPY Weekly.

If it were a real move, and price moved to new weekly highs, would
you consider the bottom of the spike to be the largest decline which
returned to the highs or would you use the bodies as shown by the red
boxes?

Mo, I know you say body is truth, but is this still correct? The last image that I posted was from the wick also. Or does it only really count if it's from the body?