Mr. D's Humble Quest in the Wick Land

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LeMercenaire
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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Sun Mar 24, 2019 7:38 pm

Mr. D wrote:Not every large candle is a momo. Context is everything,

viewtopic.php?p=77072#p77072


After a long, steady, grind, look for 50% retrace. You'll see the same thing happened to the left on the chart as well.

If you get a LRC (Long Range Candle), so a big, single, move, a Z-Line is always likely and immediate bounce off the close is almost guaranteed - and certainly is a very high probability trade, that can be taken with a very tight sl.

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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Mon Mar 25, 2019 2:45 am

LeMercenaire wrote:
Mr. D wrote:Not every large candle is a momo. Context is everything,

viewtopic.php?p=77072#p77072


After a long, steady, grind, look for 50% retrace. You'll see the same thing happened to the left on the chart as well.

If you get a LRC (Long Range Candle), so a big, single, move, a Z-Line is always likely and immediate bounce off the close is almost guaranteed - and certainly is a very high probability trade, that can be taken with a very tight sl.


Thanks, Lem, for elaborating.

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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Mon Mar 25, 2019 11:27 am


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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Mon Dec 30, 2019 5:09 pm

Hi all,

Hope everyone had a great Christmas.

Was it a falty Double Hook on EU H1?
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mira » Tue Dec 31, 2019 1:03 pm

Mr. D wrote:Hi all,

Hope everyone had a great Christmas.

Was it a falty Double Hook on EU H1?


I was used to do the same mistake over and over..
You could have any level on the left but you want to see momentum in action (MIA) as PTG says.

The yellow lines show bullish momentum, if price close with power below the yellow horizontal line you can go short at least until the green line and if it closes below the green line you can look for lower prices.

Momentum is the key.
Do you see how the red move shows a 1-2-3 that breaks below SOMETHING?
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__________ THE :smt096 IS A LIE__________

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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Wed Jan 01, 2020 5:32 am

Thank you, Mira! So good to learn from someone who has traveled this path already!

What is meant by the phrase "if price close with power"? Bars close and they do not reverse?

That yellow horizontal line seems very important. Once price reaches it from above, a trader can go long. If bars begin to close under it, then it is time to go short.

Happy New Year!

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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Wed Jan 01, 2020 11:22 pm

Mr. D wrote:Thank you, Mira! So good to learn from someone who has traveled this path already!

What is meant by the phrase "if price close with power"? Bars close and they do not reverse?

That yellow horizontal line seems very important. Once price reaches it from above, a trader can go long. If bars begin to close under it, then it is time to go short.

Happy New Year!


Yellow line - shows pointy place level that a MOMO grind passes. Forms a Z-Line. Price revisits, kisses it's cheek, then leaves again ;)

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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Thu Jan 09, 2020 5:14 pm

I think I am getting a hang of MO's "closed over something". Bought GJ after a drop, sold for over 50 pips. For a stop, used a counter at 15 pips. See the attachment.

Also, I may have an idea of what to use for imaginary lines. Give me a few days to test my hypothesis. :)
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