I thought bias was taken from the first candle that broke the Zl (at the left) but it is the second one at the right!!!... I was totally at the opposite...
News said it before: "It's not a momentum continuation thing (outside bar, retrace and continuation) at all, it's a momentum failure thing and hooking up when they're trying to get out for break-even at the other side."
So, in this EURAUD case, you draw your ZL all the way down and it becomes active once a higher tf candle closes above it at the right (and you go long)
Am I close?
Thank you Doji for all your learnings efforts
A fresh start! Doji's Trading Journal
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Hey Doji seems like a replay to me
You are doing a good job and i really hope that the followers learn from it.
Still watching kreslik but not involved but i will interact when i see bullshit
Keep up the work the more people who can do this the better you will feel.
You are doing a good job and i really hope that the followers learn from it.
Still watching kreslik but not involved but i will interact when i see bullshit
Keep up the work the more people who can do this the better you will feel.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!
Two options: you either lose or win!
ONO - I look at Supply and Demand. Clusters/Areas where price spend alot of time. UJ has hit some extreme areas of Supply, in fact there are 2 major supply levels price has to break in order to continue upwards. My overall bias was finding some area where I could go short, as I assume there would be Sellers waiting up top.
I've close the trade, I had 2 simultaneous trades on UJ as priced hooked back into a lower zline. Out with 20pips est.
FxFreak - Below is a chart for EU, where price has hit a major H1 zline/ R line. If prices continue to close below, this may be a sell.
I've close the trade, I had 2 simultaneous trades on UJ as priced hooked back into a lower zline. Out with 20pips est.
FxFreak - Below is a chart for EU, where price has hit a major H1 zline/ R line. If prices continue to close below, this may be a sell.
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- eurusdm30.png (16.24 KiB) Viewed 3441 times
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- dojirock
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Hi Dragon,
Great to see ya! Your right.... Its all a repeat. Just another way to explain it....lol
They seem to be catching on!
Great to see ya! Your right.... Its all a repeat. Just another way to explain it....lol
They seem to be catching on!
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
- newscalper
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dojirock wrote:Dont get crazy but it even works on a 1 min, 3CC chart.....
yeah - that's exactly what I was saying and illustrated with the DIY picture - it's simple logic: to be long the reason to be short has to be gone, to be short the reason to be long has to be gone.
There are some that get away though - I couldn't see a way to get in on this today on the basis I was looking at it. - I'd marked up H1 lines, was waiting for H4 to close then entry on 15. H4 closed over the red line, good, but it went and went and is now at a price I'd want to get out at
Or do you consider old Z lines too because there are ones there at the bottom if you look WAY over to the left.
When I personally start doing that though is when I get into trouble - it's the same thing as looking at higher TFs to see further back and with me it just me into a fug re which way to go again.
I'm sure there was a way i non smaller TFs but I wasn't looking at those
- dojirock
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If we dont get a close accross our zline then you trade away from it.
If we do get a close on the next time frame up, my thinking is knowing that it takes momentum to break a zline, that the hourly doing that will continue to go. It cant stop on a dime. Where as a same time frame close above could come back and close below, thus leaving us with a wick in hindsight.
If we do get a close on the next time frame up, my thinking is knowing that it takes momentum to break a zline, that the hourly doing that will continue to go. It cant stop on a dime. Where as a same time frame close above could come back and close below, thus leaving us with a wick in hindsight.
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"
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