Laurentiu Damir Flashcards
What is a price pattern break?
If your system includes trading price patterns, you must know that for a pattern to be considered broken price must close outside of it. If you have a trading system using price pattern breaks to signal your entry, then you must wait for a candle or bar to close outside the pattern on the same timeframe where you spotted the pattern. Do not make the mistake to spot a pattern on the 4h chart and then go the 15 minutes chart and wait for a 15 minutes candle to close outside and call this a break of the pattern. If the pattern resides on the 4h chart, you must always wait for a 4h candle to close outside with momentum, meaning that the candle should have at least half of its body outside the pattern to consider it a break.
What is pivotal support and resistance?
Where price rejects off them from either side. These pivotal support and resistance zones are by far the most important ones they attract the most attention from the traders out there.
How to use the moving average?
The moving average tells us what the main trend is on the 4h chart. This is very simple to do, just plot the 200 EMA on your 4h chart and observe where the current price is situated in respect to the moving average. If the pair at the current time trades above the moving average then the overall trend is up, if it trades below the moving average then the trend is down. The moving average itself must have a clear slope in one direction. This means that for you to consider that the trend on the 4h chart is up the moving average must be sloping upwards and the pair has to be trading above it at that time. For a downtrend, the moving average must have a clear slope down and the pair has to trade below it.
When trading a TR should you look left and be mindful of stretch targets?
Yes, TR’s like to expand their range look left at how far the market can go while still remaining a TR?
Invocation?
I Charlie Cook see and draw to me, through divine love, those beings who seek enlightenment through my process. The sharing will elevate us both now.
Invoke is more a passive attraction, Evoke is more an active control.
How do you attain success?
Hard work, perseverance, an element of luck, fortune, circumstance, you never do it entirely on your own.
Some people seem to make no particular effort and they succeed.
Because you can be smart, apply yourself, work hard, and you can still fail.
How do you make market predictions?
Wait for a visceral response, it’s not that you necessarily get an image, in fact if you get an image just put it down in the margin cause its probably wrong, instead just kind of put down your feelings as you get into the prediction.
When you kind of imagine what will happen, see what it looks like, say what you think, that kind of stuff is usually wrong, cause your imagination comes into play, and you make up something or whatever.
Tau- Peh Emotions?
Path, Value
22, Tau, 400. Fear, grief, depression, despair, powerlessness
21, Shin, 300. Insecurity, guilt, unworthiness
20, Resh, 200. Jealousy
19, Qoph, 100. Hatred, rage
18, Tzaddi, 90. Revenge
17, Peh, 80. Anger
Ayin- Teth Emotions?
Path, Value
16, 70. Discouragement
15, 60. Blame
14, 50. Worry
13, 40. Doubt
12, 30. Disappointment
11, 20. Overwhelment
10, 10. Frustration, irritation, impatience
9, 9. Pessimism
Chet- Aleph Emotions?
Path, Value
8, 8. Boredom
7, 7. Contentment
6, 6. Hopefulness
5, 5. Optimism
4, 4. Positive expectation, belief
3, 3. Enthusiasm (enthusiasm can be more about a temporary interest or excitement), eagerness, happiness
2, 2. Passion (Passion is more about a deeply rooted, all-consuming feeling, like a lifelong career, often involving a strong commitment and desire)
1, 1. Joy, knowledge, empowerment, freedom, love, appreciation
Tau-Peh Trades
Path, Value
22, Tau, 400. 1st H1/L1 in BO, or Start of Strong Channel / Leg. TGT: New Extremes, Trail
STP: Blw/Abv Major HL/LH
21, Shin, 300. Fade H2/L2 1/3 Slice of TR, or Beginning of Leg. TGT: Range Expansion, Other 1/3 of TR, STP: 10ish pips
20, Resh, 200. Fade Close and Beyond of Climax. Tgt: Gap Close / MM. Stop: MM Scale in or Tight.
19, Qoph, 100. Test S/R, Pivotal Most Important
18, Tzaddi, 90. BOT. Break Out Test. TGT: New Extreme STP: Blw/Abv Major HL/LH
17, Peh, 80. Fade 1st Strong CT bar In BO, Start of Strong Channel / Leg.
Ayin- Teth Trades?
Path, Value
16, Ayin, 70. Good Signal Bar TGT: New Extreme STP: Blw/Abv Major HL/LH
15, Samekh, 60. Enter Strong BO Any Price TGT: New Extreme STP: Blw/Abv Major HL/LH
14, Nun, 50. Failure of Anything
TGT: New Extreme STP: Blw/Abv Major HL/LH
13, Mem 40. Reversal after TCL overshoot (steeper the better).
TGT: New Extreme STP: Blw/Abv Major LL/HH
12, Lamed 30. Final/Failed Flag Reversal, BOM R.
TGT: New Extreme STP: Blw/Abv Major LL/HH
11, Kaph, 20. R Signal after BO of Trading Range
TGT: New Extreme STP: Blw/Abv Major HL/LH
10, Yod 10. MTR, Double Bottom/Top after a strong break of TL or 5-10 bars above EMA.
TGT: New Extreme STP: Blw/Abv Major LL/HH
9, Nun 9. Wedge, Top/Bottom.
TGT: New Extreme STP: Blw/Abv Major LL/HH
Chet- Aleph Trades?
Path, Value
8, Chet, 8. PB equal or less than previous PB.
TGT: New Extreme STP: Blw/Abv Major HL/LH
7, Zayin, 7. BOPB of flag.
TGT: New Extreme STP: Blw/Abv Major HL/LH
6, Vau, 6. A. I. Flip Fade.
TGT: New Extreme STP: Blw/Abv Major HL/LH
5, Heh, 5. Above/Below Bar that BO’s of Flag.
TGT: New Extreme STP: Blw/Abv Major HL/LH
4, Daleth, 4. Abv/Blw Prev Bar quiet flag at EMA.
TGT: New Extreme STP: Blw/Abv Major HL/LH
3, Gimel, 3. Test of Dynamic S/R.
TGT: New Extreme STP: Blw/Abv Major HL/LH
2, Beth, 2. H3, L3 in Trend.
TGT: New Extreme STP: Blw/Abv Major HL/LH
1, Aleph, 1. H2/L2 in Trend.
TGT: New Extreme STP: Blw/Abv Major HL/LH
