A fresh start! Doji's Trading Journal
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- PebbleTrader
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- PebbleTrader
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- PebbleTrader
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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?
- trueblueTEX
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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."
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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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- more confusion sorry
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- trueblueTEX
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FXfreak wrote:doji said that we have to get a red close above red open and another green candle.
now in this picture he marked the second red candle and said that this now is confirmation.
this is what i don't understand
There's a green candle after the second red candle.
It's NOT confirmed until a new candle closes in the opposite direction ie, the green candle after the second red candle. If there had been 6 red candles (and the H1 had NOT closed back over the yellow zline!!!) there would be no confirmation until the 7th candle closed green.
I think I'm stating this correctly.
- trueblueTEX
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LegendofZline wrote:... 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
...
Let's keep it simple like doji said and wait for him. I am afraid that I might misuse or misunderstand the terminology and I don't want to confuse anything in my mind or yours.
LegendofZline wrote:Pebble is there an explanation why a larger zig zag would help?
Yeah, I would like to "see" a chart or two showing what he has found out.
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