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:
I hr
The deadzone
Moderator: moderators
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
- youyouyou
- rank: 50+ posts
- Posts: 55
- Joined: Thu Jul 12, 2018 9:24 pm
- Reputation: 81
- Location: US
- Gender:
Re: The deadzone
Thursday's setup. Rode this for 20 pips. YEEHAW!
5 min detail
Last edited by youyouyou on Thu Feb 28, 2019 10:27 pm, edited 1 time in total.
- LeMercenaire
- rank: 1000+ posts
- Posts: 3184
- Joined: Tue Sep 27, 2016 12:11 am
- Reputation: 2303
- Gender:
Re: The deadzone
youyouyou wrote:LeMercenaire wrote: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.
Screenshot 2019-02-26 at 23.40.03 - Edited.png
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.
Screenshot 2019-02-26 at 23.41.24 - Edited.png
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.
Screenshot 2019-02-26 at 23.49.11 - Edited.png
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
- rank: 50+ posts
- Posts: 55
- Joined: Thu Jul 12, 2018 9:24 pm
- Reputation: 81
- Location: US
- Gender:
Re: The deadzone
Yes please
- LeMercenaire
- rank: 1000+ posts
- Posts: 3184
- Joined: Tue Sep 27, 2016 12:11 am
- Reputation: 2303
- Gender:
Re: The deadzone
UC T-60 Chart Dead Zone
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
- LeMercenaire
- rank: 1000+ posts
- Posts: 3184
- Joined: Tue Sep 27, 2016 12:11 am
- Reputation: 2303
- Gender:
Re: The deadzone
Add-in #1
- LeMercenaire
- rank: 1000+ posts
- Posts: 3184
- Joined: Tue Sep 27, 2016 12:11 am
- Reputation: 2303
- Gender:
Re: The deadzone
Add-In #2
- youyouyou
- rank: 50+ posts
- Posts: 55
- Joined: Thu Jul 12, 2018 9:24 pm
- Reputation: 81
- Location: US
- Gender:
Re: The deadzone
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.
Might've been a good day not to play, but it worked out for me.
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.
Might've been a good day not to play, but it worked out for me.
- LeMercenaire
- rank: 1000+ posts
- Posts: 3184
- Joined: Tue Sep 27, 2016 12:11 am
- Reputation: 2303
- Gender:
Re: The deadzone
youyouyou wrote: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
- rank: 50+ posts
- Posts: 55
- Joined: Thu Jul 12, 2018 9:24 pm
- Reputation: 81
- Location: US
- Gender:
Re: The deadzone
"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.)
edit: slightly better detail of 1 hr
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.)
edit: slightly better detail of 1 hr
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.