lukx zline trading log + cfabian p.35 + adaseb p.48

[cfabian]

Only trade today... got screwed with -16.

Blue line is daily ZL. Price wicked it, then price climbed a bit and did a short move. I tried to ride a short fall, but moved strongly upwards.

Darn... what to do, what to do???????????? Did I miss something? Comments please????

Ahhh, those dots are the PSAR indicator. I put them there as an option to exit trades when price reaches them and try to stay in trades as log as possible. Just look at them.

EDIT: Updated chart

[adaseb]

Hey Cfabian.

How do you enter your trades? Do you enter at the time frame that you see the Zline at or do you zoom into the M5/M15 time frame?

[adaseb]

In this trade now.

[adaseb]

Regarding the above trade. I set a TP of +20 Pips/ SL of -20 Pips and went to bed.

It reached the TP. Went down a max of +30 pips and reversed. So for a scalp trade it wasn't bad because there was no drawdown.

[dragon33]

Only trade today... got screwed with -16.

Blue line is daily ZL. Price wicked it, then price climbed a bit and did a short move. I tried to ride a short fall, but moved strongly upwards.

Darn... what to do, what to do???????????? Did I miss something? Comments please????

Ahhh, those dots are the PSAR indicator. I put them there as an option to exit trades when price reaches them and try to stay in trades as log as possible. Just look at them.

EDIT: Updated chart

Price action downwards stopped in the same zone as before. Higher tmf's where going up.

[cfabian]

I mark my lines on the TF I see, and zoom in to take the trade.

Hey Cfabian.

How do you enter your trades? Do you enter at the time frame that you see the Zline at or do you zoom into the M5/M15 time frame?

[cfabian]

Careful with that, was a risky trade... price had reached a daily ZL and was coming from it. Also the lowest point was a double bottom.

In this trade now.

[cfabian]

Thanks Dragon...
Yes H4 and D1 were going up, but naturally they had to go up in order to get in the daily zone. It is after that when they change direction/color.

As price wicked the daily zone nicely and started to retrace, I was waiting for a short momo (in this case was in M30) to base my entry accordingly. I guess your observation of price been stopped in the same zone (respecting the green zone below) was crucial to determine that was a strong support area. Am I correct?

Cheers

Daily chart




4H Chart

Only trade today... got screwed with -16.

Blue line is daily ZL. Price wicked it, then price climbed a bit and did a short move. I tried to ride a short fall, but moved strongly upwards.

Darn... what to do, what to do???????????? Did I miss something? Comments please????

Ahhh, those dots are the PSAR indicator. I put them there as an option to exit trades when price reaches them and try to stay in trades as log as possible. Just look at them.

EDIT: Updated chart

Price action downwards stopped in the same zone as before. Higher tmf's where going up.

[adaseb]

[quote="cfabian"]Careful with that, was a risky trade... price had reached a daily ZL and was coming from it. Also the lowest point was a double bottom.

I see. Looking back it wasn't a good trade. There was a lot of down-ward momentum with that Dubai news and I figured it would keep on dropping but it eventually revered.

It was a good entry though, never went against me and had the potential of 30 pips.

[spa]

slow start this week guys?

what do you think of today's eurusd chart

i see it has zeroed out left and right but can't get a clear picture of whaat to next....