Another NLA/Zline/Mbar Journal

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newscalper
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Postby newscalper » Tue Jun 04, 2013 9:16 am

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.
[highlight=red]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.[/highlight]

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.


Yeah, I used to look at them like that too. But think if that z-line isn't actually formed until that whole process has taken place. Then what's your perspective on it? (this is a rhetorical question :lol: )

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LegendofZline
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Any pointers would help?

Postby LegendofZline » Sat Dec 28, 2013 7:14 pm

so in this pic. The star was a sema before it repainting. I found a momo on smaller tf going other direction tried to go in short. Any pointers on what I did wrong or right?
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LegendofZline
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Postby LegendofZline » Sat Dec 28, 2013 7:55 pm

Or do I need to find a reversal on higher tf first?

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Postby TygerKrane » Sun Dec 29, 2013 11:36 am

I feel your pain, as the EU went up another 120 pips after that...


Interesting scenario, attempted trade off the D1 high...

Image


How do we determine that price has finished expanding/making new extremes? (expanding Long, in this case?)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Re: Any pointers would help?

Postby newscalper » Sun Dec 29, 2013 6:39 pm

LegendofZline wrote:so in this pic. The star was a sema before it repainting. I found a momo on smaller tf going other direction tried to go in short. Any pointers on what I did wrong or right?

Keep trading the now. you found an area where it MAY go short based on previous action BUT you need to weigh that with current PA - i.e. look for the last of the longs into the area. Has price taken out any b/e/ stops for a continuation If so, has it fallen again past the recent swing low , have traders with no stop loss got to a place of maximum pain and are now waiting for price to pull back , in the hope of getting out for a small loss etc (think head & shoulders because that;s all the play is, it's momo up into area, pullback fails, momo in opposite direction, pullback, pullback succeeds)

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Postby bettlebox » Sun Dec 29, 2013 7:35 pm

UK Session opened right under how stack of supply zones. Not going long into that. But Weekly classic zline was the next target on the books and monthly stall on 50% level.

I didnt see the weekly zline until end of day when i did a deeper analysis.
Weekly arnt part of trade at moment.

Theres a lesson in here some where :D







MARKET STRUCTURE VIEW



TygerKrane wrote:I feel your pain, as the EU went up another 120 pips after that...


Interesting scenario, attempted trade off the D1 high...

Image


How do we determine that price has finished expanding/making new extremes? (expanding Long, in this case?)
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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Postby LegendofZline » Sun Sep 28, 2014 8:08 pm

I'm back at it guys.

Price hits higher tf mozone
smaller tf zline wick
enter on the rat on lower tf

As you look on the 15min and 5min then both wick zerolines but fail to close over line...

I'm gonna start posting again hopefully to get insight and just to have a journal

Looking forward to this week...

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Postby LegendofZline » Wed Oct 01, 2014 4:48 pm

Breakout
Retest
trade

Am I only trading only after a breakout candle?
my answer is yes for now....

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Postby LegendofZline » Thu Oct 02, 2014 4:10 pm

Is there a correlation with the mozones the are engulfed and wicks into direction of profit?

I have been looking at some charts.
By the looks of it a momentum bar forms
then price closes over
Prices come back to retest mzone that has closed over and fail to close but wicks the zone...
Something to implement or not?

Speaking with Doji in the past I remember him bringing that same point up.
Here I am 6month later and finally my brain rings the bell...
Gotta love forum education and my brain....

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Postby LegendofZline » Wed Oct 22, 2014 5:56 pm

So watching the charts and practice trading...

I am seeing one pattern that has eluded me for so long.

I have been trading wdol and momentum...

But I was trading them the wrong way this whole time.

Maybe.... Someone may have to clarify this for me.

My new approach
is to watch where momentum occurs on a higher tf = Where buyers got in
and have profits in there hands

Wait for price to come back to these areas mozone areas in smaller tf i look at the 15min = buyers rethinking where they got in and if they should get out or not.

From there I watch price action to see any wick dolls
targeting the nearest mozone on higher tf.

easy

Image

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