A fresh start! Doji's Trading Journal
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- dojirock
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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!
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 ?
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 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 ?
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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Last edited by onontsira on Fri Apr 26, 2013 10:35 am, edited 2 times in total.
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- newscalper
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- dojirock
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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]
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!"
"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
- Posts: 1921
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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]
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!"
"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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Thank you for your support.
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