Another NLA/Zline/Mbar Journal

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judokamak
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Postby judokamak » Fri May 17, 2013 6:33 am

Is there any other way of seeing what you guys see?
Ive read all the post and try to practice what everyone is doing...
Am I not giving it a long enough chance?


You should post some loosers, so we can see what you are doing, when you are wrong..

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Humble
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Postby Humble » Mon May 20, 2013 7:02 am

+1

Also you have different line/zones drawn for different reasons which are not always obvious to someone else.

This chart has lines all drawn the same (I need to keep it simple). They are all engulfing lines that price came back and wicked (z/l style).

They show 7 trades for 5 wins & 2 losses. The boxed area shows a trade you would not take cos it only 2 pips to move to trigger the low z/l. However if you compare the size of the bars in this box, with the bars forming the last up z/l (the highest trade & and 2nd loss), this should have kept anyone out of this trade.

Image

HTH
Is price closing higher or lower than something? Simple yet powerful question. ..MO

Humble
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Postby Humble » Tue May 21, 2013 6:53 am

Lets see how it played out.

There is a line on this 2nd chart marked oops because I missed it on the first chart. It stood out when I looked to see why price stopped short of my target line. Doji has shown me to keep these failed engulf lines alive.

The first chart has some messy trades where you just made the spread, but it came out well before the trading days end.

Image
Is price closing higher or lower than something? Simple yet powerful question. ..MO

LegendofZline
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Postby LegendofZline » Tue May 21, 2013 8:11 pm

Thanks for some charts to chew on... I appreciate it.

LegendofZline
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Postby LegendofZline » Tue May 21, 2013 8:48 pm

Here is the pic that got me started with this whole thing provided by MO in the never lose again thread.

What do you get out of it?

My interpretation is that price shoots away creating zlines.
Price comes back to zline wicks and goes on its way.
My only thing is how to catch moves before it shoots away and thow to keep away from consistent losers I keep getting before real move happens.
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LegendofZline
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Postby LegendofZline » Tue May 21, 2013 10:48 pm

Humble wrote:Lets see how it played out.

There is a line on this 2nd chart marked oops because I missed it on the first chart. It stood out when I looked to see why price stopped short of my target line. Doji has shown me to keep these failed engulf lines alive.

The first chart has some messy trades where you just made the spread, but it came out well before the trading days end.

Image


Humble

What do you think?

W are wins
L are losts

I did not trade this. I just wanted to see if I can see what your seeing...
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LegendofZline
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Postby LegendofZline » Fri May 24, 2013 4:57 am

Humble wrote:Lets see how it played out.

There is a line on this 2nd chart marked oops because I missed it on the first chart. It stood out when I looked to see why price stopped short of my target line. Doji has shown me to keep these failed engulf lines alive.

The first chart has some messy trades where you just made the spread, but it came out well before the trading days end.

Image


Humble I've been duplicating what you have shown on your charts.
Its very simple and easy to spot.

I find 15min engulfing candle for bias left chart with arrow. After that forms my bias now is bearish.
than look into the 5min for entry. Right chart green vertical is line after 15min bias change. Then I find engulfing 5min as trigger....

Is there any other pointers you would consider... More bias go with day candle color???
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Humble
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Postby Humble » Tue May 28, 2013 6:00 am

Hi LoZ, I'm happy if I have got you interested in Z/L's again.

I originally post a chart to support the view of others that it is much easier to follow your thoughts if you can see them on a chart.

As you see on your chart marked with W and L's, there are usually many more W's than L's. However in practice many of the W's do not run far and result in BE trades (just making the spread). For this reason I prefer to use a H1 for bias and M15 for entries, but you must go with what you see.

I didn't use any bias in giving the above examples. I just showed having one idea, Z/L break-out, and being consistent with the drawing of these lines.

Everyone sees Z/Ls differently and probably none as MO intended.
I like to think of it in terms of a break-out trader, who enters a trade - moves stop to BE - price takes out the stop and then moves with the break-out.

What does this look like on a chart - a Z/L :)

So all the break-out traders help generate a memo bar. In the next bar or two price comes back and wicks the break-out line(s). You then look to trade with the memo.

If this is what's happening the Z/L can only be wicked, there is no reason for a bar to close beyound the Z/L. ie if we have a long set up, when price comes back to the break out area the only short entries there should be the break-out trades S/L (ie closing a trade), there should not be any trades entering a new short trade. That's why we have to wait for the wick bar to close.

If the Z/L is not wicked, then keep the line in place for a future target. As this profit will be taken eventually. I trade from a wicked Z/L to a Z/L that has not been wicked, as I see the idea is to eliminate other trades profit. This is what I think Mo is showing in the chart you posted.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

LegendofZline
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Postby LegendofZline » Mon Jun 03, 2013 10:05 pm

Humble wrote:Hi LoZ, I'm happy if I have got you interested in Z/L's again.

I originally post a chart to support the view of others that it is much easier to follow your thoughts if you can see them on a chart.

As you see on your chart marked with W and L's, there are usually many more W's than L's. However in practice many of the W's do not run far and result in BE trades (just making the spread). For this reason I prefer to use a H1 for bias and M15 for entries, but you must go with what you see.

I didn't use any bias in giving the above examples. I just showed having one idea, Z/L break-out, and being consistent with the drawing of these lines.

Everyone sees Z/Ls differently and probably none as MO intended.
I like to think of it in terms of a break-out trader, who enters a trade - moves stop to BE - price takes out the stop and then moves with the break-out.

What does this look like on a chart - a Z/L :)

So all the break-out traders help generate a memo bar. In the next bar or two price comes back and wicks the break-out line(s). You then look to trade with the memo.

If this is what's happening the Z/L can only be wicked, there is no reason for a bar to close beyound the Z/L. ie if we have a long set up, when price comes back to the break out area the only short entries there should be the break-out trades S/L (ie closing a trade), there should not be any trades entering a new short trade. That's why we have to wait for the wick bar to close.

If the Z/L is not wicked, then keep the line in place for a future target. As this profit will be taken eventually. I trade from a wicked Z/L to a Z/L that has not been wicked, as I see the idea is to eliminate other trades profit. This is what I think Mo is showing in the chart you posted.



I get find bias on 1hr. Price closes out breakout traders. Momo the other way. When it wicks are looking to trade in 15min or after 1hr closes when it wicks 1hr areas...
I dont get find entry on 15min

Im not even sure if my question is gonna come thru clearly

LegendofZline
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Postby LegendofZline » Mon Jun 03, 2013 10:06 pm

Humble wrote:Hi LoZ, I'm happy if I have got you interested in Z/L's again.

I originally post a chart to support the view of others that it is much easier to follow your thoughts if you can see them on a chart.

As you see on your chart marked with W and L's, there are usually many more W's than L's. However in practice many of the W's do not run far and result in BE trades (just making the spread). For this reason I prefer to use a H1 for bias and M15 for entries, but you must go with what you see.

I didn't use any bias in giving the above examples. I just showed having one idea, Z/L break-out, and being consistent with the drawing of these lines.

Everyone sees Z/Ls differently and probably none as MO intended.
I like to think of it in terms of a break-out trader, who enters a trade - moves stop to BE - price takes out the stop and then moves with the break-out.

What does this look like on a chart - a Z/L :)

So all the break-out traders help generate a memo bar. In the next bar or two price comes back and wicks the break-out line(s). You then look to trade with the memo.

If this is what's happening the Z/L can only be wicked, there is no reason for a bar to close beyound the Z/L. ie if we have a long set up, when price comes back to the break out area the only short entries there should be the break-out trades S/L (ie closing a trade), there should not be any trades entering a new short trade. That's why we have to wait for the wick bar to close.

If the Z/L is not wicked, then keep the line in place for a future target. As this profit will be taken eventually. I trade from a wicked Z/L to a Z/L that has not been wicked, as I see the idea is to eliminate other trades profit. This is what I think Mo is showing in the chart you posted.



I get find bias on 1hr. Price closes out breakout traders. Momo the other way. When it wicks are looking to trade in 15min or after 1hr closes when it wicks 1hr areas...
I dont get find entry on 15min

Im not even sure if my question is gonna come thru clearly

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