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LegendofZline
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More on Bias

Postby LegendofZline » Thu May 23, 2013 1:27 am

dojirock wrote:I always, always incorporate 2 time frames into my trading, one for entry and one higher time frame for bias. Thats how I get my best trades. The only time they fail is when I come to the end of a bias run, which no one knows for sure how long a run will be. But keep the losses small and the winners big.
In this case, yes I used a 15 min bias, 5 min entry.

LegendofZline wrote:
dojirock wrote:Trades today, done till 9:30 when things calm down...


Was there a bias chosen before taking this?
Is it the red line? Is it the higher 1hr tf?

And when choosing bias are you waiting for candle to close before
Confirming direction? Or are you trading direction once price touches
Area before closing and predicting it will wick?


Doji a couple more questions about Bias

So I drew arrow which confirms a bearish bias direction.
But once the green closes over which is filled green hard to see but its there....
Is that telling us no more bias downward
And after this happens do we just wait for a new setup to find new bias direction?
Or would bias be bullish now since bearish bias didn't follow threw....
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dojirock
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Postby dojirock » Thu May 23, 2013 2:56 am

see how price is moving up...
then we get a bullish zline.
what happens after a bullish zline? a retrace
drop to the 5 min chart
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Postby dojirock » Thu May 23, 2013 2:59 am

5min
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Postby dojirock » Thu May 23, 2013 3:05 am

The price action pattern must be followed...
breakout, zline...retrace enter...
its the same on all time frames, all currencies..
it either holds or breaks...
if it holds trade away from hold
if it breaks trade away from breaks.
they are zones..not lines!
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...."
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Postby LegendofZline » Thu May 23, 2013 3:06 am

What do you think doji...

This is not a response to your post before this. Just was posted this before reading your post.


Bias change bearish on 15min
Found entry on 5min after 15min has formed
exit on 15min zline
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Postby dojirock » Thu May 23, 2013 3:19 am

Yes, there you go..spot on....perfect.

LegendofZline wrote:What do you think doji...

This is not a response to your post before this. Just was posted this before reading your post.


Bias change bearish on 15min
Found entry on 5min after 15min has formed
exit on 15min zline
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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Postby onontsira » Thu May 23, 2013 7:49 am

dojirock wrote:The price action pattern must be followed...


Hi Doji,

Would you please explain a little more in details what you mean by this. I understand this:

1/ if I got a failed ZL (for example a failed long ZL) on high TF, I look for a failed long ZL on lower TF, away from the zone.

2/ here is my question: if I got a BROKEN long ZL on high TF, must I also look for a BROKEN long ZL on lower TF away from the zone ???

:?: :?: :?:

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Postby newscalper » Thu May 23, 2013 4:05 pm

MTF screws me over and over - see today on USDJPY (I wasn't up for the move amyway so moot point) but look - Comes to end of run on the 15 minute. Upper Zline files saying try to get in short but....it would be straight in to the H4 Z-line?
This instance it broke and you made a packet if you held.

But???
I see this time and time again, higher zone/lines failing from lower ones, which kills the 'bias' theory stone dead.

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Postby Karma » Thu May 23, 2013 4:50 pm

Have you considered that there are things playing out on much higher time frames that don't care what the smaller time frames look like?
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Postby MightyOne » Thu May 23, 2013 5:00 pm

"But???
I see this time and time again, higher zone/lines failing from lower ones, which kills the 'bias' theory stone dead."


Bias only exists in higher periods; what you call small time frame "bias" is nothing more than a trigger.

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