elkin.fernandez wrote:MIra:
¿How I know where i must put a ZL?
¿One has to wait a pullback after a strong BO?
¿Any clue different to its definition? LOL.
Hi Elkin!
A zline is a line in the sand, there are many definitions of Zline but the best way to find the truth is to imagine yourself buying/selling after a move (I.e. A breakout), to gain some profits and then to give all back because price reached your stop loss (with a loss or at b/e).
- IMG_2649.PNG (66.9 KiB) Viewed 4406 times
Can you imagine yourself buying at the green line, struggling a little and then seeing your dreams fly away?
Can you see how price was showing either buy and sell setups? Either Fear and Greed?
Then price breaks down and everything becomes clear, wait for a pullback and there you go.
So where is the exactly zline? Nobody knows!
Try to feel the other traders, they all do the same thing.
Opens, midpoints and closes are common S\R, where the order flow repeats itself and accumulates stop orders
Try to draw lines at these points on large charts and SEE.
"A Zero-Line is the idea that if you can see loss then you can see profit." -MO