The deadzone

[youyouyou]

Wednesday's set up. -3 on first breakout +7 on the second. Some good opportunities to play the wicks too. In blue circles are fakeouts that I'm sure I would've fallen for if I were WZing.

I min detail:

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I hr

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[youyouyou]

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Thursday's setup. Rode this for 20 pips. YEEHAW!
5 min detail

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[LeMercenaire]

First off, I do agree, that if I played this off H1 candle charts, then I too would have sat out at the sight of that waste-of-time excuse for a candle.

Today as I saw it - viewing it in the same way as yesterday's set-up, via the T-60 Chart, did however give an entry and a fair bit of additional action along the way.

Long bias.

UC T-60 Chart The Dead Zone

Got the go-ahead for entry at 13:01 and signal came and entry at 13:09. Went for +3 or so, retraced for around -2, then headed up.

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The -3 low was again a pullback, this time to the 50 level. A single add-in from there gave +6, we then dropped back onto the 23.6 (going back -2) and then from that bounce, off for another +9 or thereabouts.

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If you continued to lift the trailing fib, then you'd have had a solid bounce off the new 50 level formed, adding another +9.

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Man, you can really wring the pips out of a move! I've begun looking more in depth at fibs. This is something I've neglected experimenting with thus far in my trading journey--and dang they seem useful. I certainly see how they can be used to stay in a move longer and possibly add on, but I really like the idea of using them to catch a late entry.

You mentioned signal at 13:01 and entry at 13:09. How do you differentiate signal from entry?

The signal is the set up overall, so you get the directional bias confirmation, with the L-MACD doing its thing and price being on the right side of the ma. The entry needs the correct rejection or momo candle generally as well as the U-MACD flip, so I am not necessarily simply going on the breakout.

[youyouyou]

Yes please

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[LeMercenaire]

UC T-60 Chart Dead Zone

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[LeMercenaire]

Add-in #1

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[LeMercenaire]

Add-In #2

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[youyouyou]

Aloha.

Fairly puny DZ set up, but there were many opportunities for pips. I took the first breakout south for +6.5., but one could've triple tapped the short breakouts before trying to catch some of the action out of the top.

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Might've been a good day not to play, but it worked out for me.

[LeMercenaire]

Aloha.

Fairly puny DZ set up, but there were many opportunities for pips. I took the first breakout south for +6.5., but one could've triple tapped the short breakouts before trying to catch some of the action out of the top. 3dz341hr.PNG

Might've been a good day not to play, but it worked out for me.

I would generally stay away from those set-up candles - however that was only because I was running it as a WZ trade, there is no real reason why you can't take them if you are purely trading the break of the extremes.

[youyouyou]

"there is no real reason why you can't take them if you are purely trading the break of the extremes."--That was my rationale as well.

I have a day job where I'm snugly ensconced in a cubicle. I arrive at my office around 6:45, and no one else is there til 8. For this period of time I can pretty much stay glued to my screen. It's not bad for grabbing some (fake) pips out of the DZ. After 8 so, I can pull up a chart whenever, but I can't sit there and watch it. This is one of the reasons I'm currently limiting myself to the first breakouts. I normally get one in this period of time(7-8), and I can give it my full attention. This boring bio info is just a preface for an observation. If you play the zone throughout the day, there's the potential to catch some big moves. Right now I'm pretty content grabbing 5-10 pip pops, but there is more to be had. Over the weekend I was looking at the week's price movements in relation to my DZ boxes, and dang, a lot of big reversals come out of these zones. Check it out on 1hr, 4hr, and daily views. (The 4 hr view makes me want to look into playing the 4 am-8 am bar WZ style once I get the DZ fully built.)

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edit: slightly better detail of 1 hr

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