LegendofZline wrote:pariah wrote:During the last month, the most distressing aspect of trading higher tfs was the SL variable. I didn't like the thought of drawing down 15-20 pips to have it hit my SL.
Decided that a single tf m5 is enough. Take 5 -10 pips at a time, risking only a couple.
I'm a scalper. I like taking money off the table as soon as I see it. I don't like to lose, but when I do, I want to give as little back as possible.
Goal: 100 pips a day
How to get there:
a) Standard SD rules + odd enhancers
b) Make upwards of 20 trades per trading session.
I don't want to intrude on doji's thread, so I will probably start my own.
*Tight stops is my happy place* lol.
pariah I would like to see how you would determine you sd rules + odd enhancers. Please let us know if you start your own thread.
I see momo but I don't get some lines that are determined....
Is it Pass bars opens and close passed by momo bar only at the peak before the move?
S/D rules and odds enhancers are straight from Seiden, all good stuff but not how Zlines are drawn and one of the reasons so many people have been confused about it for so damn long.
This is a step by step explanation to draw z-lines
Note: M30 chart
Line 1
Red candle closes
Green candle closes
Green candle closes
Green candle closes
Green candle closes
Red candle closes
(= 4 green candles = 1 green combined candle)
Red candle closes
Red candle closes
Red candle closes
Green candle closes
(=3 red candles = 1 red combined candle)
Place green X over green candle = end of red combined candle = possible zline formed
Can we draw a green line. Where? Where was the breakout? (red green).
If we draw a line from here has the red combined candle closed above it?
If yes, draw green line
Line 4
Green candle closes
Red candle closes
Red candle closes
Red candle closes
Green candle closes
Follow further rules from above, if valid, draw red line
Now see H1 chart
Hmm.....I wonder why the overnight range was there?
From our M30 drawn zlines, to go LONG, price must break out of SHORT zline a good H1 closes?
Was there a good H1 closes above the RED zline?....maybe, maybe not
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