Hi Legend,
Man, you guys posted alot in the last 8 hrs.
The basis for my trading is understanding Supply and Demand levels/zones. I don't really understand what a zline is, but in my experience, I believe now that they are the same. The tasks for me is:
1. Where to find these zones
2. How price reacts when they reach these zones.
ie. This is my understanding of s d. S D zones are created where there is an imbalance of buyers or sellers.
a) These can be identified on a chart by looking for momo. Momo tells you that we have arrived at an s d area. This is an area where you draw lines (zlines, S/R, SD etc...)
b) Price will do one of two things, at these levels 1. Price will move away, or 2. Cross these levels. Again, momo will give you this information.
- Bodies in the direction of profit, wicks in the direction of loss.
A fresh start! Doji's Trading Journal
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- newscalper
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I didn't get in at the bottom lol. Wasn't up at that time. I took the break of the cyan line which marked the M15 short Z-line. Had to sit through a fair bit of chop but didn't see anything significant to want to close. Should have held for more but hey ho
Price dropping again and there's a fair few z lines which are too near imo to risk the short so looking for another long.
Price dropping again and there's a fair few z lines which are too near imo to risk the short so looking for another long.
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- dojirock
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Is it time yet? or am I still hoping its time?
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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!"
- newscalper
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