"Maybe it's just me, but it feels thoroughly moot to label your support or resistance as "Support" or "resistance". There are only two options, labeling them is a bit of a waste of energy and system.
If it's going up into "something", either trade long with it away from something, or short away from something"
Thinking in terms of support / resistance not even existing! Price is either going up or it's going down!
A fresh start! Doji's Trading Journal
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- dojirock
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Nice Jud,
Your getting the pattern and concept....redraw you bottome long zline.....its drawn on the open of a red candle.. when a red candle closes higher.... your lower line is off slightly....redraw it then look at the retest...
good job
Your getting the pattern and concept....redraw you bottome long zline.....its drawn on the open of a red candle.. when a red candle closes higher.... your lower line is off slightly....redraw it then look at the retest...
good job
judokamak wrote:Pebble or Doji is this logic ok?
1. Close under (long) z line. Bias short
2. Close back over z line.
3. Test-s/failure. Change of bias confirmed.
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
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Here is an example of my favorite setup, step by step how I process it.
A short zline is formed...means nothing to me yet.
A short zline is formed...means nothing to me yet.
- Attachments
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- z1.png (39.79 KiB) Viewed 2743 times
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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- dojirock
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As price comes back up to the short zline, watch. Price chose to break this zline.
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- z2.png (40.34 KiB) Viewed 2742 times
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
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After the break of the short zline, two candles later price forms a long zline.....(are you thinking confirmation?)
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- z3.png (41.38 KiB) Viewed 2677 times
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
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Now I have had a break of a short zline, a newly formed long zline, now I am ready to enter.
- Attachments
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- z4.png (41.34 KiB) Viewed 2675 times
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
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Our analysis was done mainly on the 15 min.
Here is what it looks like on the 5 min chart. Learn to recognize what it
looks like on different time frames. The analysis doesnt change...just different looks as you change time frames.
I went short per my old rule, price below the ema...enter!
This gives us small stops and big rewards.
Here is what it looks like on the 5 min chart. Learn to recognize what it
looks like on different time frames. The analysis doesnt change...just different looks as you change time frames.
I went short per my old rule, price below the ema...enter!
This gives us small stops and big rewards.
- Attachments
-
- z5.png (41.35 KiB) Viewed 2672 times
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!"
Yeah, i drew that one (the second green one from the bottom)on 4h chart, thats why it s off, but i saw what you are describing, which also confirmed change of bias. Thanks for input and great "play by play"!
Last edited by judokamak on Tue Apr 30, 2013 4:31 pm, edited 1 time in total.
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