Billytt Die happy trading e/j daily breakout | Page 1298 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #25,941
  • Mar 22, 2018 1:43am Mar 22, 2018 1:43am
Cable 08-00 break....
High broke for +5%, this i did trade...

I also took a couple of % off that dax trade from several hours ago...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #25,942
  • Mar 22, 2018 1:51am Mar 22, 2018 1:51am
Catch you all later,

sleep time for moi zzzzzzzzzzzzzzzzzzzz
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #25,943
  • Mar 22, 2018 2:01am Mar 22, 2018 2:01am
Hi Lem.
Thanks for the reply.
The previous daily wicks are very small so I wasn't sure if they could be applied
Regards
Kev
  • #25,944
  • Mar 22, 2018 2:12am Mar 22, 2018 2:12am
Riding The Monster.

Took a rebound off the 50...

Attached Image (click to enlarge)
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  • #25,945
  • Mar 22, 2018 2:16am Mar 22, 2018 2:16am
Quoting kevin1959
Hi Lem. Thanks for the reply. The previous daily wicks are very small so I wasn't sure if they could be applied Regards Kev
That's just part of the decision-making process. You could run a two-Day block instead, or a Weekly. An alternative would be to look at ADR and apply that to the present candle and extend the zones as ''virtual'' ones.

Remember, unless you are going to use them as a break of the high or low, you are actually only using the level that bounds the body of the candle, so it would be your counter level that you would be adjusting in the event of a move back inside.
  • #25,946
  • Mar 22, 2018 2:18am Mar 22, 2018 2:18am
Quoting lemercenaire
Riding The Monster. Took a rebound off the 50... {image} {image}
Back to the beginning. The Circle of Life, lol...

Attached Image (click to enlarge)
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  • #25,947
  • Mar 22, 2018 2:20am Mar 22, 2018 2:20am
Now it becomes a case of how many times I want to poke this particular bear, lol.
  • #25,948
  • Mar 22, 2018 2:22am Mar 22, 2018 2:22am
Quoting lemercenaire
{quote} If you have that candle situation, all is not lost (you can see above that one of my charting brokers does the same), as what to do is drop to the m5. You will still have your extreme (high or low) and your hour close. You can form your WZ from that info only and trade as price leaves that as normal. Set your counter level on the m15 candle (the m5 is usually a bit small but can be used as well - personal preference). It's the same Monster deal - just a bit different
Lem,

thanks for your suggestions, very helpful.

What do you mean by 'set your counter level' , please?

Also, what is the K-gap, please?

Also interesting, you take the fibs of the total move, not just yesterday's move from high to low.
  • #25,949
  • Mar 22, 2018 2:35am Mar 22, 2018 2:35am
EJ all the way DWZ-Short through the body. Nice.

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  • #25,950
  • Mar 22, 2018 2:48am Mar 22, 2018 2:48am
Quoting ikdenk
{quote} Lem, thanks for your suggestions, very helpful. What do you mean by 'set your counter level' , please? Also, what is the K-gap, please? Also interesting, you take the fibs of the total move, not just yesterday's move from high to low.
By setting your counter-level, I mean the place you would look to take your counter-trade should your original entry direction go wrong and reverse on you.

The K-Gap is err...not very PC, lol. (That sound you hear is Claudia rolling around laughing in the background). It's the gap formed between the overnight close and the morning open on The DAX. (Very many times) more often than not, price will close that gap.

Erm...Do you watch old WWII movies? Read old Commando books? (Really showing my age now, lol)...The Brits had a term for ''The Jerries''...''The Bosch''...''The K****s'' . For some reason that is frowned upon more than the others, so it's now known simply as The K-Gap. You can run a whole method round that concept all on its own. The Head even recently posted a vid on trading the Weekly Gap.

Fibs get a bad rep - I use them because I know others use them and you are right, I will take multiple levels to form a ''Fib-Map'' of price movements as the day / move progresses.
  • #25,951
  • Mar 22, 2018 2:59am Mar 22, 2018 2:59am
Quoting lemercenaire
{quote} By setting your counter-level, I mean the place you would look to take your counter-trade should your original entry direction go wrong and reverse on you. The K-Gap is err...not very PC, lol. (That sound you hear is Claudia rolling around laughing in the background). It's the gap formed between the overnight close and the morning open on The DAX. (Very many times) more often than not, price will close that gap. Erm...Do you watch old WWII movies? Read old Commando books? (Really showing my age now, lol)...The Brits had a term for ''The...
I love sauerkraut und bratwurst.

The Germans still have my grandfather's bicycle - so no room for too much PC.
  • #25,952
  • Mar 22, 2018 6:23am Mar 22, 2018 6:23am
Quoting lemercenaire
{quote} By setting your counter-level, I mean the place you would look to take your counter-trade should your original entry direction go wrong and reverse on you. The K-Gap is err...not very PC, lol. (That sound you hear is Claudia rolling around laughing in the background). It's the gap formed between the overnight close and the morning open on The DAX. (Very many times) more often than not, price will close that gap. Erm...Do you watch old WWII movies? Read old Commando books? (Really showing my age now, lol)...The Brits had a term for ''The...

Lem

i would like to express here , my respect for the time and effort you put to explain with details every qustion.... you got my admiration for your work , im not sure i will be able to do the same...

SB
trying to make everyday the best risk/reward decisions possible
  • #25,953
  • Mar 22, 2018 7:05am Mar 22, 2018 7:05am
Quoting slowbrain
{quote} Lem i would like to express here , my respect for the time and effort you put to explain with details every qustion.... you got my admiration for your work , im not sure i will be able to do the same... SB
Thanks much, SB. I appreciate that.
  • #25,954
  • Mar 22, 2018 7:08am Mar 22, 2018 7:08am
Quoting lemercenaire
{quote} Thanks much, SB. I appreciate that.
Congrats at being the 2nd best teacher of Forex in your family!
  • #25,955
  • Mar 22, 2018 7:08am Mar 22, 2018 7:08am
Doji formation on UC meant I stayed away from any WZ entry on The DZ today, instead taking the clean break North. Worked just fine...

Attached Image (click to enlarge)
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Hope y'all got some one way or t'other.
  • #25,956
  • Mar 22, 2018 7:10am Mar 22, 2018 7:10am
Quoting lemercenaire
Doji formation on UC meant I stayed away from any WZ entry on The DZ today, instead taking the clean break North. Worked just fine... {image} Hope y'all got some one way or t'other.
Alongside The DZ, I ran an easy bounce play here. You could have played it as a 1-2-3, though with the initial momentum crushing it, I'd have been wanting to nab the in-and-out play quickly just in case it was going to turn and keep on going...

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  • #25,957
  • Mar 22, 2018 7:12am Mar 22, 2018 7:12am
Quoting bojack34
{quote} Congrats at being the 2nd best teacher of Forex in your family!
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  • #25,958
  • Edited 7:59am Mar 22, 2018 7:41am | Edited 7:59am
Still in this but much longer.

Edit: that's enough.
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  • #25,959
  • Mar 22, 2018 7:45am Mar 22, 2018 7:45am
Just realised I haven't had lunch yet!

Back later at some point.
  • #25,960
  • Mar 22, 2018 8:05am Mar 22, 2018 8:05am
Quoting lemercenaire
Just realised I haven't had lunch yet! Back later at some point.
Must admit K-Gap had me puzzled.
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