A fresh start! Doji's Trading Journal

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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.
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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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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trueblueTEX
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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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dojirock
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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"
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 » 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.
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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cwn6161
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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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EURGBP_4_5_2013.JPG
EURGBP_4_5_2013.JPG (47.72 KiB) Viewed 2841 times

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dojirock
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Postby dojirock » Sat Apr 06, 2013 3:14 am

True look at it this way. When I draw my zlines, there is no crossing of another color. What your seeing is a already drawn zline that has been drawn and when the candle crosses it whether its red or green is a broken zline, or zeroed out zline. Find the orgin of the zline...there is no candle crossing them.
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 » Sat Apr 06, 2013 3:17 am

dojirock wrote: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.


I gotcha! I didn't mean to imply anything negative.

I think the exercise has been useful. It's a little of the "iron sharpening iron" kind of activity. Sometimes it causes sparks, too. :wink:

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trueblueTEX
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Postby trueblueTEX » Sat Apr 06, 2013 3:25 am

dojirock wrote:...When I draw my zlines, there is no crossing of another color. ...Find the orgin of the zline...there is no candle crossing them.


That's what I was trying to ask with regard to that chart earlier. I was trying to understand what the chart looked like WHEN you drew the zline. ie, at it's inception.

cwn6161
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Postby cwn6161 » Sat Apr 06, 2013 3:27 am

Daily and weekly:
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EURGBP_D_4_5_2013.JPG
EURGBP_D_4_5_2013.JPG (54.95 KiB) Viewed 2752 times
EURGBP_W_4_5_2013.JPG
EURGBP_W_4_5_2013.JPG (59.17 KiB) Viewed 2752 times

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