Another NLA/Zline/Mbar Journal

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LegendofZline
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Another NLA/Zline/Mbar Journal

Postby LegendofZline » Thu Jan 17, 2013 6:27 am

I have decided to start a new topic well an oldie but a goodie. I have been a follower of zline momo for 3yrs now on this site alone. What I found is that every person that has started a journal has become great traders. Except for lukz. But all in all he made a great thread with lots of info in it. Thanks lukz. So with that we begin. Any input and insight and to clarify what price action is and how to use zline and momo is welcomed.

From what Ive learned Price eliminates profit.
Once it eliminates the traders profit its next target is to eliminate other peoples profits. How to find how people are in profit is breakouts creating zlines. Momo shows us which direction we should trade towards. I am not sure if this is all quite correct so please any input will be greatly appreciated.
Last edited by LegendofZline on Thu Jan 17, 2013 6:35 am, edited 1 time in total.

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Postby LegendofZline » Thu Jan 17, 2013 6:30 am

Heres a dragon trade any input would be great


Just a trade off mbar open.

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LegendofZline
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Postby LegendofZline » Thu Jan 17, 2013 6:41 am

Here's last one tonight

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LegendofZline
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Postby LegendofZline » Thu Jan 17, 2013 3:38 pm

Target was hit but it didnt close out. My tp price. Didnt account for spread.


Looking at the charts there looks like a couple trade i missed

LegendofZline
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Postby LegendofZline » Fri Jan 18, 2013 12:33 am

So which bias direction should I take when in this situation.

1. When first red arrow bear mbar shows does that mean only go short
2. Or when price hits the bullish mbar green arrow can I look for longs.
3. Or Only look for longs after a mbar bullish appears again...
Image

As for now I am looking for shorts and trying to get out my long trades....

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Postby LegendofZline » Fri Jan 18, 2013 12:37 am

Got out my long trades.

Looking to go short...

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Dan
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Postby Dan » Fri Jan 18, 2013 4:44 am

I think the safest way to trade that would be to have a sell limit at the open of that recent bear momo, possibly the 50% and ride it down to the open of the bull momo. See what happens at that area, wait for 1hr to close down over or for some wicks to gather for a ride up.. Just my opinion.

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Postby LegendofZline » Fri Jan 18, 2013 4:49 am

I think my targets are to low. Going to exit soon at tp... 1hr %50

Then maybe look to go short 4hr %50 depending how price closes.....


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Postby LegendofZline » Fri Jan 18, 2013 4:53 am

Dan wrote:I think the safest way to trade that would be to have a sell limit at the open of that recent bear momo, possibly the 50% and ride it down to the open of the bull momo. See what happens at that area, wait for 1hr to close down over or for some wicks to gather for a ride up.. Just my opinion.


Hey Dan thanks exactly what I did took profit at bull momo open... thanks
Last edited by LegendofZline on Fri Jan 18, 2013 5:07 am, edited 1 time in total.

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Postby Dan » Fri Jan 18, 2013 5:00 am

The 4hr is at an old bull zline so might be looking to buy soon

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