Billytt Die happy trading e/j daily breakout

There is a fascinating documentary (maybe BEEB but don't hold that against it) on his descent into his own other world.

Have a listen to Bob Welch. Another Mac guitarist who tends to get forgotten about. The sound's maybe a little dated in places now but I certainly still listen to his albums and he was an accomplished player who liked to do his own thing.

Agreed. That's why I like C-Forks. They help take away the fake-out aspect as a trend-line is attacked.

Don't know the name - will go find. Thanks.

A couple of things came to mind.

I don't actually (at the moment) run DWZ as a standalone method. What I will do however, is use it as a directional bias indicator. As price always wants to leave the WZ, then if price is sitting in one, then I would know that I am going to get movement.

If, however, price has already left a WZ, so is sitting in the body, then I will be cautious about taking any trade, no matter the method, as the movement we would be looking for has already happened.

If you are using DWZ as a standalone but having losses, then I would suggest that you may be holding trades too long. The main driving force behind that trading is ''take-what-you-get'' and it's a form of scalping. Once you have cleared the spread, then you never let it go negative. At worst, you will take a scratch trade - I always look to take +1 rather than go flat at least.

If it turns and comes in your favour again, you simply re-enter.

If you do get a runner and say you move over +5, then if you are comfortable with the technique and are able, look to stack your position. For this, I use my standard bag of tricks, momentum, percentage retrace / Z-Line and micro S+D. That is how you maximise your return on DWZ, not by waiting to try and catch one long move on some random pair.

This then brings me to my next point.

In my experience, then I would say that instead of having a few methods and then wandering off all over the place trying to find pairs that have the set-ups - the right-place-right-time approach - that you will find much more success by finding a pair (or two...three maximum) that you really, really, like and learning what makes it tick. Look to understand it, inside and out. What makes it move? When does it move? When it does this, what does it do next? Is this normal? An unusual behaviour?

You know what I mean. With me, it's The DAX. Claudia has Cable.

Doing that, what you then do is let the day unfold in front of you and use whatever one of your methods is relevant at the time. If you see a 1-2-3, you use a 1-2-3. A HOLO, that's your bag.

The day is then broken down into distinctive time-slots. For me, my solid time-slots are my Monster Trade, Dead Zone and that's it. Outside of that, I know that my morning set-up often leads into a 1-2-3 and / or a HOLO.

All through the day, I am looking for my Momo-Scalps to line up. If they give me the look I want, then that is my go-to until it runs out of oomph.

I know that at some point one of these will give me my base +5%.

All I need is that to happen once and I am solid. Everything else is jam on top.

Great post. One or two pairs and get to know them. Time of day is important as is high impact news.

Most important is finding your own way. Confidence is the key - most lose because of arrogance. There is a big difference.

DAX Opens with a push North. One strong move and we are at Supply level 12422. Nice. Even with the increased spread, that's a clear profit.

Thanks. Reminded me of the Concert for George. This one. Having George's son upfront was so moving.



Hey Jude was released 50 years ago yesterday. Feeling old anyone (apart from me)?

If it brings back memories let the clip run for Billy Preston.

morning, and we have a Bank Holiday.
Don't let this stop you as we will have movement to make a % or 2.
( it probably wont move now) lol.

06-27 here and no bias yet, but Cable does look like it is dropping..
All depending on the 08-00 bar i MIGHT (Might) trade off it for gf.
I will definitely trade off the 00-00 4 hour bar. (TEST). as this is a long term test....

gf is back from the Dorset Steam Rally Later, i hope she has dried out lol.....

Oh you're no the only one, lol.

Well, we've had the Frankie Push, with price already up at 12463. That would make me think we'll get a drop of some sort at the UK Open, assuming things don't push on till then.

It has just occurred to me that my broker may use holiday spreads today. Will need to keep an eye on that before I get involved.

Update: Watching this closely, as price is trying hard to close above that level. If it does so with purpose, that could flip res into sup on the H1. However for along-term continuation North, I'd want price to close above 12524.

Draw a line and trade what you see. Seemples...

Nah, this is just a mess. On the lower time frames, it's very congested and on my Momo-Scalp reads, price is on the wrong side of the trigger. The large push earlier has messed with that.

I'll keep that screen up and see if it sorts itself out but for now, it's brew time.

May look at getting some Cable action. The Momo-scalp would have bagged easily earlier and is still in good shape. That may be a good option for me for now.

Wait for 500 area. Gives it a reasonable range for the day. Also happens to be R61 on weekly.

Edit: that went quick have to type faster !

Lol. Now price has closed ''wrong'' on that one as well. It's just going to be one of those days.

Update: Watching this closely, as price is trying hard to close above that level. If it does so with purpose, that could flip res into sup on the H1. However for along-term continuation North, I'd want price to close above 12524.

12496 for The Monster as the climb continues.

If I now get a drop back, I could have a potential Momo-scalp Long. Watch this space.

I'd be looking for price not to close below around 12471.

That's me.

Faded the drop. +1 and +5.

DAX Momo-Scalp. +6%



Out