Scalping: 3LZZ DSR

[IgazI]

Here are a few FX examples from TRO's latest vid.

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[Jhx]

Okay, so I'm going to focus on one entry to be able to gather better stats and reduce all my variables.

The zline entry; large/r candle closing below the previous candle's high or low and entering on that level when price comes back, always trading away from the SMA. That's it.

Also, to visually help myself I'm going to change my chart a fair bit. Hopefully this will help my brain to assimilate the charts starting from this point as well. Dark backgrounds are easier on the eyes (to me at least), and I was associating red and green candles too much to the outcome of a trade , so I changed the candle colors. I'm also adding some subtle vertical lines to mark my trading session.

Yellow = Zline
Red fibs = Loss
Green fibs = Win

All the charts are going to be like this. 99 more to go.

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[IgazI]

Listen very carefully, & slow it down if you have to:

You'll never go wrong watching their videos, they are smart peeps.

[Jhx]

95 to go.

One thing I'm noticing is the importance of stop placement. More often than not it can be done within a high / low of the recent candles. Need to better find out which.

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[Jhx]

Listen very carefully, & slow it down if you have to:

You'll never go wrong watching their videos, they are smart peeps.

I watched it quite a few times, this is what I got.

It really makes sense when he talks about all the different kinds of patterns and that, at least what I understood from it, is that it overcomplicates the idea of patterns due to the amount of types there are; where with bar charts they are simplified (and all those are still there).

"Patterns either extend or prolong the trend, or test the trend and break the trend".
The pattern is the area and no matter what the pattern is the idea the idea that price will break is the same on all.

---

Now, specifically for the bar charts, my only issue with them is that I can't see very clearly the closing price (just a tiny line). Which in what I'm attempting to do right now is important do determine the zline

[IgazI]

Not sure why you would try to go short there;
maybe a day trader can explain it to me

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[IgazI]

Now, specifically for the bar charts, my only issue with them is that I can't see very clearly the closing price (just a tiny line). Which in what I'm attempting to do right now is important do determine the zline

I definitely would not use a bar chart if it displayed opens.

ZL is just price returning to patterns, "ZLing profit".

The #2 point is the "momo", the "mighty zone" is the pattern behind the #2, . . . it's all the same.

Pick any 1-2-3 to trade short . . .
if the #2 is the breakout then where is the pattern. . .
if price is going to 'zero out' profit then where is it returning to?
Do you see?

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[Jhx]

Now, specifically for the bar charts, my only issue with them is that I can't see very clearly the closing price (just a tiny line). Which in what I'm attempting to do right now is important do determine the zline

I definitely would not use a bar chart if it displayed opens.

ZL is just price returning to patterns, "ZLing profit".

The #2 point is the "momo", the "mighty zone" is the pattern behind the #2, . . . it's all the same.

Pick any 1-2-3 to trade short . . .
if the #2 is the breakout then where is the pattern. . .
if price is going to 'zero out' profit then where is it returning to?
Do you see?
no_opens.png

By 1-2-3 you mean these to see where it's being zero'd out?

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When price breaks I also see it returning like this, a larger bar that stands out closing outside somewhere. But I (me, because I don't know other cues) can only say that because I'm marking it in hindsight.

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[Jhx]

Not sure why you would try to go short there;
maybe a day trader can explain it to me

why.png

I marked more zlines that I see.
Some times it returns really quick, like in the next 1, 2 or 3 candles. Others take more time, like that large one.

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That trade in the other screenshot didn't work; but after marking that chart, I think I missed this.

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Since the bias here is short below the sma, I can only look for shorts. There's also a huge red candle. That's were I'd get conflicted. After something like this, price often retraces. So either get in, knowing that I got in late, or go in the other direction, knowing that the momentum is against my direction.

Edit: Each time I look at that chart I find something different lol. Price went down fast, now well below the SMA.
1) After momentum, price sometimes retraces and go back in the original momentum direction. This is my 'idea'.
2) The two shorts I marked first, failed. Now there was this one that could've worked.
3) At the same time, I know that there's a good chance that price will 'zero out' that move. And now that I see, that run happened, but it took a while for price to settle, then crossed the SMA, and then good to go long.

So after momentum, price can either:
1) Pull back some and continue (without necessarily 'zeroing' entirely)
2) Completely zero out the move and either reverse or continue.

Like, I feel I can see momentum, but after that I only have doubts on what to do next because there's a reason to go either short or long


PS: I wrote without reading, maybe I'm just all over the place on this chart

[IgazI]

I feel like you understand it all well enough, you just . . .

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