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dojirock
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Postby dojirock » Sat Apr 06, 2013 2:47 am

Doing some Mo studies. I need to to get to those big charts.

So Mo is this drawn correctly, not paying attention to the zlines....
Thats my cheat...

You said,

I want to see the midpoint of the 1 MA stay below the 4 &, ideally, I would also like to see the quarter-points below the 4.

Did you mean the 1/3 points below the 4?

From what I observe is the 1/3 points are below the 4.
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"A small loss is just as satisfying as a large gain" -MO
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Postby trueblueTEX » Sat Apr 06, 2013 2:51 am

PebbleTrader wrote:They are just the point at which all held profits have been erased.

It's a concept that in my mind should take no longer than 1 day to see and understand.

There are years worth of posts here and they are not in chronological order. I see scores of posts where a line is drawn and someone says that's not the right way to draw it, this is. I don't see why "this line" is a zline while "this line" is not.

It seems like there IS a definition of HOW you place this thing called a zline on the chart.

Or am I wrong? Is defining HOW it is drawn (this many candles required if one closes this way and....) NOT THAT important?

A rat reversal is concretely defined, are zlines concretely defined?

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Postby dojirock » Sat Apr 06, 2013 2:54 am

When you draw a zline, its actually a zone. A S/D zone. Any horizontal line within that zone is considered a zline. Many traders draw them differently based on how they see price.

This is just what I have learned to see from the greats here.
"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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Postby dojirock » Sat Apr 06, 2013 2:55 am

I started this whole segment out with the exercise of drawing zlines. I also stated the one's drawn don't mean they are incorrect. They are just not ones I would use for my analysis.
"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 » Sat Apr 06, 2013 2:58 am

I'm not the 1st one to try to teach this here. Forum teaching has its downsides. Just because the pic from the MO archive and a post by, I think Aliassmith or Bredin with some programming code made it click for me, doesn't mean it will for anyone else.
"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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Postby trueblueTEX » Sat Apr 06, 2013 3:04 am

dojirock wrote:....Any horizontal line within that zone is considered a zline.....


Aha! That, I didn't know. But candles closing in opposite direction play a part in this. I guess because if this zone (eg support) is being created/tested/whatever, it's only a support if price reverses.

Do you buy out of the reverse or do you wait until the zone/ (is that why it is called a Z-line? I thought that the "z" came from horiZontal) z-line is re-tested?

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Postby trueblueTEX » Sat Apr 06, 2013 3:08 am

dojirock wrote:I'm not the 1st one to try to teach this here. Forum teaching has its downsides. Just because the pic from the MO archive and a post by, I think Aliassmith or Bredin with some programming code made it click for me, doesn't mean it will for anyone else.


I am thankful that you are teaching even though forum teaching DOES have it's limitations. :oops:

I am sure that you and MO feel like this many times: ](*,)

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Postby dojirock » Sat Apr 06, 2013 3:09 am

To me "zline" is zeroline.
Traders that have entered already and have not taken there profits lose them when price returns to there entry point. Thus being zeroed out. "zline"
"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 » Sat Apr 06, 2013 3:11 am

Price moves from zline to zline. So our objective is to enter at one and close at the other. When we close at the other we have taken there profit.
"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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Postby cwn6161 » Sat Apr 06, 2013 3:12 am

Here's my take from EURGBP 4H, looking at S/D from the consecutive candles he spoke about.
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