A fresh start! Doji's Trading Journal

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arkan1976
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Postby arkan1976 » Thu Apr 25, 2013 9:49 pm

Hello Doji and all.
Please, is this correct for sell ?

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dojirock
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Postby dojirock » Fri Apr 26, 2013 5:18 am

Hi Arkan,

Yes the 15 min has a broken up zline & a bearish zline zone. I would be shorting that there on the retrace to the line.
Nice charting!
arkan1976 wrote:Hello Doji and all.
Please, is this correct for sell ?

Image

Image

Image
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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onontsira
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Postby onontsira » Fri Apr 26, 2013 10:06 am

dojirock wrote:Hi Arkan,

Yes the 15 min has a broken up zline & a bearish zline zone. I would be shorting that there on the retrace to the line.
Nice charting!
arkan1976 wrote:Hello Doji and all.
Please, is this correct for sell ?

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Hi Arkan and Doji,

I understand what you do but this way is very confusing for me because you "pyramid" timeframes (in order to confirm on H1 and then confirm on M15) and that makes the zone bigger, so that it becomes difficult for me to place my SL (as tight as possible).

I would do it this way (assuming price is the same on all TF and that a ZL is often located in the same area on every TF). What do you think?
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onontsira
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Postby onontsira » Fri Apr 26, 2013 10:13 am

and this way if I want a "fresh" ZL (I mean being active AFTER H4 candle close)...
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Postby onontsira » Fri Apr 26, 2013 10:17 am

In fact, I try to trade this way (as Captain Pugwash explained on page 109), and always think "where this move originate from?"
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Postby dojirock » Fri Apr 26, 2013 4:17 pm

You guys are right on track! Good job...
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It always takes Momentum to break Momentum!
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Postby newscalper » Fri Apr 26, 2013 4:41 pm

not sure about some of those lines on those charts, maybe I'm doing them wrong?

H4 outer boundaries
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H1
Looking for break of Z and momo, don't want to trade too near into a 4


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Failure of H1 Z and target H1 or H4

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XX = got spanked

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dojirock
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Postby dojirock » Sun Apr 28, 2013 12:06 am

Guys, please ask questions here in the forum so you all can benefit from learning. I can guarantee you if you have a question your not the only one asking.

Thanks!

These are some questions I get asked all the time for clarification.


"Close above, close below
All zlines are drawn on opens of candles....

[highlight=red]All my zlines are a line that makes an open of a zone. They are always drawn across the open of one candle and the close of the candle next to it of opposite color.[/highlight]

All my zlines have a color change.....

[highlight=red]Like I said above, my lines are drawn on a red-green candles or green-red candles. Never green-green or red-red.[/highlight]

It takes momentum to break and or move away from these lines.

[highlight=red]Once a zline is formed and the zone is visible, we trade away from that zline until at some point price comes back and crosses that said zline and closes on the opposite side.
[/highlight]

Take your zline...it is your bias, your fortress until it is broken by the hourly time frame. What is broken?

[highlight=red]What messes everyone up is this?.. lets say you draw a zline, by the time you can draw it and confirm it as a zline zone, the move is over. What traders don?t understand is when price comes back and closes on the opposite side of that said zline, it is considered broken. I trade away from broken zlines. Once it is broken that becomes the zlines true direction, trade away from it.[/highlight]


Let me count the interpretations...lol It?s a close over that zline....
[highlight=red]Another thing hard to explain on the forum. Once the zline is formed, what matters is when price closes back across that line. Just an alternate meaning of the above but hopefully a clearer interpretation.[/highlight]
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 » Sun Apr 28, 2013 12:08 am

It?s a close over that zline by the hourly candle....It?s not a close over that line by a 30 minute or less, that will be or could be the wick to draw you in. It?s not anything hourly or above that crosses that zline without closing across it.
Remember I am only talking bias.

[highlight=red]Any break of a zline, a crossing over of it, is your new bias! I use the next time frame higher as a confirmation due to many lines do get crossed over by lower time frames in which end up looking like a wick on higher time frames.[/highlight]

All my short zlines are ONLY drawn from bullish candle opens.
All my short zlines are ONLY drawn from green candle opens.
All my short zlines are ONLY drawn from UP candle opens.

[highlight=red]All of the above is the same, just 3 different ways of saying it.[/highlight]



All my long zlines are ONLY drawn from bearish candle opens.
All my long zlines are only drawn from red candle opens.
All my long zlines are only drawn from DOWN candle opens.

[highlight=red]All of the above is the same, just 3 different ways of saying it.[/highlight]
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 » Sun Apr 28, 2013 12:17 am

? In some examples, Long zlines are not drawn using bearish candle opens. See chart below:
Q: Why the lower bearish (Red) zline? It hasn?t been drawn from a bullish candle open.

Ok, this might be some of the confusion. When I say bearish, it has nothing to do with the candle formation to me.
Bearish to me is any red candle. Vice versa for bullish, they are just green candles.

? There is the implication that a zline should be drawn after any sequence of like coloured candles. Is that the case?

No, I only draw off of red-green or green-red. Not like colored. Now let me point this out, 2 green candles on a hourly time frame with a line drawn on the open and close, drop a time frame or two, tell me what you see?

? Your definition of failures and retests.

My definition is this, failures and retests, are the same thing?failure to cross back over, retest the line without closing back over. I use the work break and broke to explain the crossing over of a zline.

? What are the Rules to confirm long/short zlines?

Again, simplest way I can say it?. A long zline is formed and confirmed when the following happens-
You need to have a red candle close higher than the previous red candles open. When this happens, it can?t possibly be confirmed until we have a green candle close. At that point, that zline is confirmed and the distance between the red candles open and close becomes the zline zone.

A short zline is formed and confirmed when the following happens-
You need to have a green candle close lower than the previous green candles open. When this happens, it can?t possibly be confirmed until we have a red candle close. At that point, that zline is confirmed and the distance between the green candles open and close becomes the zline zone.
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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