Es/pip that is close but you need....................
Or
Es/pip you jumped off the boat and missed the water
1. The sample of candles one chooses to use does not matter-- in that ---I can take a move in the market that happens over say, 30 candles. So we have a down move that lasted 30 candles and was 200 pips and was at a 30 deg angle so -----------
30*= 200 pip drop over 30 bars
So in knowing the above and knowing that it will either increase by 2 or decrease by .5, we can then move 30 bars in the future and draw both a 15* and a 60* channel
And then
15*= 200 / 30 x 15 = 100
60*= 200/ 30 x 60= 400
So
If the channel decreases by 1/2 at 15* the next 30 bars will yield a 100 pip move
Or
If the channel increases by 2 at 60* the next 30 bars will yield a 400 pip move
If I am correct in my understanding, then what you are proposing allows you to see into the future not only by price but also by time?
In my mind the above made total sense when I was thinking and typing it. Lol, but now I am not so sure. Looking back at your 70 bar example chart u did not use 70 bars back to back----- so maybe I missed the boat on this
Last edited by es/pip on Thu Aug 06, 2009 10:28 pm, edited 1 time in total.
Bend over and assume the position for another 4 years of hope and change.
Es/pip that is close but you need.................... Or Es/pip you jumped off the boat and missed the water
1. The sample of candles one chooses to use does not matter-- in that ---I can take a move in the market that happens over say, 30 candles. So we have a down move that lasted 30 candles and was 200 pips and was at a 30 deg angle so -----------
30*= 200 pip drop over 30 bars
So in knowing the above and knowing that it will either increase by 2 or decrease by .5, we can then move 30 bars in the future and draw both a 15* and a 60* channel
And then
15*= 200 / 30 x 15 = 100 60*= 200/ 30 x 60= 400
So
If the channel decreases by 1/2 at 15* the next 30 bars will yield a 100 pip move Or If the channel increases by 2 at 60* the next 30 bars will yield a 400 pip move
If I am correct in my understanding, then what you are proposing allows you to see into the future not only by price but also by time?
In my mind the above made total sense when I was thinking and typing it. Lol, but now I am not so sure. Looking back at your 70 bar example chart u did not use 70 bars back to back----- so maybe I missed the boat on this
It can be confusing because the angles in the diamond are not really 15-30-45-60-75 degrees, but consist of Slow and fast angles based on the single angle it was constructed from (30*).
Last edited by MightyOne on Fri Aug 07, 2009 12:35 am, edited 1 time in total.
Thanks again Mightyone, Es/pips, and ZZ for all your posts they really get me to see some great opportunities. I figure with the ZL's alone I can make about what I was making when I traded the news releases (approx. 100%/mo).
Anyways, I have actually put together some of the entry Ideas that MO would tell es/pips. My idea for entry after a "momo" candle completes is enter right away with approx. 1% risk based on using a mental stoploss below a low of the (bullish)momo candle. If that takes off then I look for a target to get out. If price retraces to the MZ(50%) I then add another 1% position which will be about 2x the lot size of the first order. If that takes off then I look for a target to get out. If the price goes down in the bottom 25% of the momo candle then I enter another 1% order which will have approx. 2x the lot size of the previous order.
If price breaks hard and fast you capture some profit
If price pulls back you gain even more
If price pulls back even further the slot machines gives you all the money
maximum risk is about 3% because of position size
10 fully build positions a month is 100% return on 25 pip breakouts
