A fresh start! Doji's Trading Journal

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LegendofZline
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Postby LegendofZline » Sun Apr 07, 2013 3:39 pm

I guess my confusion comes when a reverse pattern emerges.
Once the opposite price action occurs I usually would cancel everything
long and go short after the red numbers and short 1hr mbar closes.

Thanks for any comments...
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trueblueTEX
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Postby trueblueTEX » Sun Apr 07, 2013 3:39 pm

dojirock wrote:True,

Nice, you do have it.... yes the top zline short which you spotted can be traded short keeping in mind that the bias is still long, so your short would be a countertrend. There was a good 40 pips there.
You just need to remember where you are.

Nice! Glad to see someone picked it up!


Thanks, doji!!!!!!! for sticking to it!!!!

Whether I can see this stuff in real time will be the next "test".

I'm looking forward to more lessons!!

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trueblueTEX
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Postby trueblueTEX » Sun Apr 07, 2013 3:44 pm

LegendofZline wrote:I guess my confusion comes when a reverse pattern emerges.
Once the opposite price action occurs I usually would cancel everything
long and go short after the red numbers and short 1hr mbar closes.

Thanks for any comments...

Hey Legend, doji will have to give the definitive answer on this but I would like to take a crack at it.

Look how many yellow m30 zlines you have that aren't broken. In doji's post to me just above yours, he mentions the word "countertrend".

[s]I'm thinking that [s]3 2 unbroken m30 zlines might be a trend and just one break doesn't necessarily mean you conclude that the trend has switched.....[/s].
Let me edit that statement again:
I'm thinking that 3 m30 zlines might be a trend and just one break doesn't necessarily mean you conclude that the trend has switched.....

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PebbleTrader
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Postby PebbleTrader » Sun Apr 07, 2013 3:52 pm

Suggestion:

For 3 level semafor users. I looked into this last week and all it is 3 zig zag indi's set to different pivot sizes.

Just use 1 zig zag indi with the larger setting.
Life is just a journey

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PebbleTrader
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Postby PebbleTrader » Sun Apr 07, 2013 3:55 pm

Up until then, I thought it was a 1,2,3 indi, but it's not...
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PebbleTrader
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Postby PebbleTrader » Sun Apr 07, 2013 3:59 pm

Replace the "3" with a circle (which is worthless), with the range of the current swing...
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Postby PebbleTrader » Sun Apr 07, 2013 4:08 pm

In one sentence:

Doji is simply saying, trade long/short, above/below a line = bias
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Postby FXfreak » Sun Apr 07, 2013 4:13 pm

dojirock wrote:OK, I think a few of you guys are now onboard.
Here is a chart just showing 30 min bias zlines..... only 3 of them...
they are the only 3 there are the whole run up.

observe

2 closes higher than 1 = long bias line
B closes higher than A = long bias line
2 closes higher than 1 - long bias line

lets crawl here...don't start running yet...you will fall on your face.


shouldn't it be (from left to right):

a closes above 1
1 closes above 2
2 closes above 1

why do you always take the second down-candle for confirmation? i thought if the first down-candle closes above then we take this as confirmation?

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trueblueTEX
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Postby trueblueTEX » Sun Apr 07, 2013 4:18 pm

FXfreak wrote:
dojirock wrote:OK, I think a few of you guys are now onboard.
Here is a chart just showing 30 min bias zlines..... only 3 of them...
they are the only 3 there are the whole run up.

observe

2 closes higher than 1 = long bias line
B closes higher than A = long bias line
2 closes higher than 1 - long bias line

lets crawl here...don't start running yet...you will fall on your face.


shouldn't it be (from left to right):

a closes above 1
1 closes above 2
2 closes above 1

why do you always take the second down-candle for confirmation? i thought if the first down-candle closes above then we take this as confirmation?


If there had been ONLY 1 down candle each time, that would have been confirmation

BUT if there had been 10 down candles, at some point the zline would have been broken instead of confirmed.

So I assume you use the lowest down candle in a series to finally say "bias is confirmed."

LegendofZline
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Postby LegendofZline » Sun Apr 07, 2013 4:18 pm

trueblueTEX wrote:
LegendofZline wrote:I guess my confusion comes when a reverse pattern emerges.
Once the opposite price action occurs I usually would cancel everything
long and go short after the red numbers and short 1hr mbar closes.

Thanks for any comments...

Hey Legend, doji will have to give the definitive answer on this but I would like to take a crack at it.

Look how many yellow m30 zlines you have that aren't broken. In doji's post to me just above yours, he mentions the word "countertrend".

[s]I'm thinking that [s]3 2 unbroken m30 zlines might be a trend and just one break doesn't necessarily mean you conclude that the trend has switched.....[/s].
Let me edit that statement again:
I'm thinking that 3 m30 zlines might be a trend and just one break doesn't necessarily mean you conclude that the trend has switched.....


Just trying to understand not trying to doubt that your comment is not valid
Please know I am not trying to stir up the pot....
But after the 3 redline mbars wouldn't that be considered trend down...
And wouldn't that look like a retest fail pattern on the 2nd bottom red zlines
Thanks for any comments

Pebble is there an explanation why a larger zig zag would help?
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