Once my zlines are drawn. I stated I move up one time frame. It takes momentum to break a zline. I want to see 1hour or higher momentum break these lines before going short.
The 1st, bottom zline has had no return yet...so we skip it.
The next zline has on this hourly chart an attempt to retest it with a result of failing to do so. A down candle, a up candle. Since this line failed...I go long. Keep it simple.
The next zline has an attempt also, it gets wicked then a up candle. Another fail, I go long. Keep it simple.
The vertical lines are just to show points of reference from when the zlines were drawn so we can see that when we switch time charts.
Did you notice looking at the 30 min chart price did close below the line? It fools you. We want to see a stronger momentum. Thats why I personally move up a time frame.
Still with me....
??
A fresh start! Doji's Trading Journal
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- dojirock
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If your lost on the last 2 pics, dont go any further!
This pic is at the point of the retest, on a 15 min chart, the entry chart.
This gives me my added comfort that I will be correct.
So think through it. We have a long bias line on the 30 min.
Confirmed by a fail to close below on the hourly. (no momentum to break the long bias line)
This chart shows the short zlines in green. Why the short ones if we are long bias. Because we are looking for the short green zlines to BREAK which will confirm out long bias direction.
They both break!... Im in for longs at the arrows!
Keep it simple.
This pic is at the point of the retest, on a 15 min chart, the entry chart.
This gives me my added comfort that I will be correct.
So think through it. We have a long bias line on the 30 min.
Confirmed by a fail to close below on the hourly. (no momentum to break the long bias line)
This chart shows the short zlines in green. Why the short ones if we are long bias. Because we are looking for the short green zlines to BREAK which will confirm out long bias direction.
They both break!... Im in for longs at the arrows!
Keep it simple.
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Last edited by dojirock on Sat Apr 06, 2013 10:14 pm, edited 1 time in total.
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
- rank: 1000+ posts
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Now do you understand why so many new traders are always on the wrong side of the zline. We dont trade the zline bias per say as it forms....we cant...its already moved.... Its when it gets zeroed out that we take advantage of the fail or break and knowing which way to go.
these long zlines that I have drawn here can only be traded at the point of origin by looking left, history trading, the past, people still in profit, we will claim it. Once we can feel and see there fears, emotions, and profit on the table. This is the best way I can explain how we see it. We meaning, Dragon, es/pip, and myself. I learned from them. Es/pip loved to trade back to zlines. Dragon uses 4hr, 1hr and 15 min charts.... Im not telling you guys anything that hasnt been said many times before, just the Doji way.
lol
these long zlines that I have drawn here can only be traded at the point of origin by looking left, history trading, the past, people still in profit, we will claim it. Once we can feel and see there fears, emotions, and profit on the table. This is the best way I can explain how we see it. We meaning, Dragon, es/pip, and myself. I learned from them. Es/pip loved to trade back to zlines. Dragon uses 4hr, 1hr and 15 min charts.... Im not telling you guys anything that hasnt been said many times before, just the Doji way.
lol
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
- rank: 500+ posts
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dojirock wrote:Now do you understand why so many new traders are always on the wrong side of the zline. We dont trade the zline bias per say as it forms....we cant...its already moved.... Its when it gets zeroed out that we take advantage of the fail or break and knowing which way to go.
these long zlines that I have drawn here can only be traded at the point of origin by looking left, history trading, the past, people still in profit, we will claim it. Once we can feel and see there fears, emotions, and profit on the table. This is the best way I can explain how we see it. We meaning, Dragon, es/pip, and myself. I learned from them. Es/pip loved to trade back to zlines. Dragon uses 4hr, 1hr and 15 min charts.... Im not telling you guys anything that hasnt been said many times before, just the Doji way.
lol
BINGO!!! I get exactly what you are doing! I never read Dragon's thread (only some of his posts in NLA) and only some of es/pip's posts in other people's threads.
I'll have to "think" about what you are envisioning when y'all talk about the other traders and where they are on the chart, the profit/loss they are holding.
I will tell you that I've seen the 2 different (long and short) zlines on so many charts here on Kreslik and I didn't get it before.
BUT NOW I DO!!
PebbleTrader wrote:Isn't it interesting how one person can see "gold" in an illustration and another see nothing at all...
or
The same person see the same illustration a year later and than see "gold"
Very interesting seeing as I'm with the later, although doing it in a year is a bit of a stretch!
Is price closing higher or lower than something? Simple yet powerful question. ..MO
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PebbleTrader wrote:I do look forward to the day when Zlines are no longer being discussed
New peeps are always going to come along and run into this concept for the first time, or old peeps revisit and have another go having missed the point the first time.
I can remember without much difficulty, the difficulty I had in getting my head around this concept! There is also a problem with the Z/line posts they need to study, being spread all over the forum and amongst so many other posts.
MO was going to write an ebook at one time but thought better of it. Fair enough, but it would be nice to have one central place to refer peeps to saying study this for a month and then come back and ask questions.
I think doji is making a tremendous effort here and deserves all the support we can offer.
Is price closing higher or lower than something? Simple yet powerful question. ..MO
"...MO was going to write an ebook at one time but thought better of it... -Humble
You want a book from MO? You cant handle a book from MO!
But if you want to improve as a trader then study books like this:
http://sixpeppers.com/
Last edited by MightyOne on Sun Apr 07, 2013 7:23 am, edited 1 time in total.
When you study things like poker, Chess, or even do Sudoku puzzles you get better at solving problems.
The better you are at solving problems the more faith you are going to have in yourself and your ability to turn hints into new strategy.
http://chessmasterschool.com/
don't ask me how many things I do at once I grow bored easily...
The better you are at solving problems the more faith you are going to have in yourself and your ability to turn hints into new strategy.
http://chessmasterschool.com/
don't ask me how many things I do at once I grow bored easily...
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