poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?
Btw great trading Fxtraveller
1. Momentum crosses a line to the short side (lines are imaginary )
2. Price recrosses said line
3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).
4. wait for momentum.
5. liquidate at/below the lowest price.
Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.
You can now look for long trades as price has shown an unwillingness to trade lower.
This point 3 makes the difference between trading whats happening or just based on fixed rules. Is the wick in direction of loss going to stay and how likely is it? Thats is where the experience comes into play and what the beginner should try to focus on learning...
3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).
very helpful, thanks!
MightyOne wrote:
poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?
Btw great trading Fxtraveller
1. Momentum crosses a line to the short side (lines are imaginary )
2. Price recrosses said line
3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).
4. wait for momentum.
5. liquidate at/below the lowest price.
Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.
You can now look for long trades as price has shown an unwillingness to trade lower.
poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?
Btw great trading Fxtraveller
1. Momentum crosses a line to the short side (lines are imaginary )
2. Price recrosses said line
3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).
4. wait for momentum.
5. liquidate at/below the lowest price.
Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.
You can now look for long trades as price has shown an unwillingness to trade lower.
1. wait for momo
2. liquidate at/above the highest prices.
Oh, I saved you so much time
would this have been a proper Zline trade if it was taken on the candle with a down arrow?
poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?
Btw great trading Fxtraveller
1. Momentum crosses a line to the short side (lines are imaginary )
2. Price recrosses said line
3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).
4. wait for momentum.
5. liquidate at/below the lowest price.
Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.
You can now look for long trades as price has shown an unwillingness to trade lower.
1. wait for momo
2. liquidate at/above the highest prices.
Oh, I saved you so much time
would this have been a proper Zline trade if it was taken on the candle with a down arrow?
Bend over and assume the position for another 4 years of hope and change.
What a Beautiful setup big momentum on NFP day, next day a Bearish Key Reversal Day, good indication to ride short down to Bullish Zline, then last 2 days nice wicks in direction of loss. I would even call it a Bullish KR day since both lows were at 133.91 and bullish day close higher the bearish, so today a bullish Bias should be considered
nice post FX Traveller always good to do a bit of revision...
What a Beautiful setup big momentum on NFP day, next day a Bearish Key Reversal Day, good indication to ride short down to Bullish Zline, then last 2 days nice wicks in direction of loss. I would even call it a Bullish KR day since both lows were at 133.91 and bullish day close higher the bearish, so today a bullish Bias should be considered
nice post FX Traveller always good to do a bit of revision...
Cheers ***FX-JEDI***
Someone is studying the Gartley patterns? Interesting. I stole a nice indi of off FF that shows the gartleys. Just getting into them myself.
"The simplicity of the markets is it's greatest disguise"
Darn... closed it as didn't like PA on 5M, I was expecting more speed. Bullish bodies where showing smaller... closed it and then boooom!!!!! 50 pips away... it did hit my target.
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"
Another one.... was +17, then retraced and hit my SL which was moved to BE.
Should've, would've, blahh blahh blahh
However, I think I kind of agree with dragon on moving SL to +1 when in profit by certain amount (guess he mentioned 8 pips). I like something like +15. Better that than turning a profitable into loser. If is a clean entry, wont have any problem (as would've been at the beginning of previous H1).
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"
)
big momentum on NFP day, next day a Bearish Key Reversal Day, good indication to ride short down to Bullish Zline, then last 2 days nice wicks in direction of loss. I would even call it a Bullish KR day since both lows were at 133.91 and bullish day close higher the bearish, so today a bullish Bias should be considered 
