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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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....
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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- audusd1h.gif (15.46 KiB) Viewed 3045 times
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- audusd4hr.gif (15.38 KiB) Viewed 3045 times
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- audusd15min.gif (17.11 KiB) Viewed 3048 times
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!"
- dojirock
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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!"
"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!"
- trueblueTEX
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- trueblueTEX
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- dojirock
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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!!
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!"
"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!"
- dojirock
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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?
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!"
"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!"
- dojirock
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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!"
"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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Thank you for your support.
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