A fresh start! Doji's Trading Journal

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FXfreak
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Postby FXfreak » Fri Apr 05, 2013 9:13 pm

doji, correct, that pic showed bias....

i traded after mbar-close long. why am i against the trend?

thanks!
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dojirock
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Postby dojirock » Fri Apr 05, 2013 9:26 pm

FxFreak,

Here is the 1hr chart drawn up...to stay consistant, I will walk you through my though process. You did have a bullish zline(yellow).
This being on the hourly, I would look for a long. We then had two bearish zlines form on the hourly. This gives a a point of indecision.
You took a counter trend, which did give a few but that was it.
A number of post back I told you guys, go up a time frame and see if momentum will punch a hole in the floor, the hourly bullish zline(yellow). It did. This is my favorite setup, when 4 hour momentum bores through a 1hour zline, its momentum, it cant stop on a dime...im looking for shorts and I expect a nice trade out of it.
dropping to the 15 min or 5 min...Look and see the hourly zlines still drawn, but the 15 and 5 min are confirming that the short is king.
Look at the 5 min...the 3 sema, is known for landing on zlines also.
All of the short arrows for entry would be places I would look to enter...
I like to enter on up candles....
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It always takes Momentum to break Momentum!
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"Sometimes we need to stop learning and start thinking...."
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dojirock
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Postby dojirock » Fri Apr 05, 2013 9:32 pm

No, your trading into a short bias....that long bias line wouldn't have been drawn yet at the point you entered. 2 candles later when the line would be drawn and then a up momo bar would justify you going long.....

FXfreak wrote:doji, correct, that pic showed bias....

i traded after mbar-close long. why am i against the trend?

thanks!
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!"

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trueblueTEX
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Postby trueblueTEX » Fri Apr 05, 2013 9:39 pm

I hate to whine, but I'm an old fart and I still like to print stuff out and hold it in my hand.

Would it be too much to ask if we could use white or a light colored background on posted charts? I've just printed out LOTS of toner!! :oops:

Thanks for your consideration.

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trueblueTEX
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Postby trueblueTEX » Fri Apr 05, 2013 9:50 pm

(true is back for remedial zlines :-) )

If we are drawing bullish zlines on the H1, why wouldn't we draw it like this:

?
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FXfreak
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Postby FXfreak » Fri Apr 05, 2013 10:01 pm

thanks doji!

i understand your explanations that i'm trading into a short bias but why isn't my zline a zline? why would you draw it two candles later?

zline = red candle to green candle and strong green candle close above open of red candle. or am i missing something?

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dojirock
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Postby dojirock » Fri Apr 05, 2013 10:03 pm

I suppose, true... we will see what we can do...lol

trueblueTEX wrote:I hate to whine, but I'm an old fart and I still like to print stuff out and hold it in my hand.

Would it be too much to ask if we could use white or a light colored background on posted charts? I've just printed out LOTS of toner!! :oops:

Thanks for your consideration.
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!"

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dojirock
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Postby dojirock » Fri Apr 05, 2013 10:50 pm

FX,

The zline you drew wouldnt be there until you got the close of the next green candle. Because if the next candle was red it would be a failed zline. Make sense?


FXfreak wrote:thanks doji!

i understand your explanations that i'm trading into a short bias but why isn't my zline a zline? why would you draw it two candles later?

zline = red candle to green candle and strong green candle close above open of red candle. or am i missing something?
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!"

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dojirock
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Postby dojirock » Fri Apr 05, 2013 10:52 pm

Fx, your definition is different than mine. You need a close of a red candle higher than a open of a red candle. You cant verify that until you have a close of a green candle.
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!"

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onontsira
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Postby onontsira » Fri Apr 05, 2013 10:53 pm

FX,

The zline you drew wouldnt be there until you got the close of the next green candle. Because if the next candle was red it would be a failed zline. Make sense?


So you mean that we must wait 2 candles for confirmation? (you mentionned it once in page 116...)

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