ADASEB'S ZeroLine Trading Daily Log

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es/pip
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Postby es/pip » Sun Nov 22, 2009 3:14 am

adaseb wrote:So basically if the ZL is found correctly it SHOULD NOT close against you on the 5M correct?

I looked at your charts and I basically entered too early by about 3-4 pips.

I basically did this.

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the idea is

that if you enter into a trade that is correct---- it will go your way immediately. so if a 5 min closes against you, look to get out at the best price you can, and decide based on PA to get back in.

a zl is just showing where other traders are sitting with a profit. Once they are taken out the market will either reverse or continue. Basing your decisions off of held profit and Zl's it gives you an opportunity to trade at a point in time where decisions are being made.
Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Sun Nov 22, 2009 3:23 am

adaseb wrote:So basically if the ZL is found correctly it SHOULD NOT close against you on the 5M correct?

I looked at your charts and I basically entered too early by about 3-4 pips.

I basically did this.

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all three of these are technically zl's

zl are not entry triggers, they are just showing where the held profit is at

you cant just sell there bec it is a zl

there is no magic trick to it---- it is just an area or a zone that you can expect a reaction

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Bend over and assume the position for another 4 years of hope and change.

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Postby lukx » Sun Nov 22, 2009 4:32 pm

hmm, I guess this is one of things where I was making mistake. When price enter ZL on higher TF we look at lower TF to see what it is going to do? If we have short momo on higher TF it doesn't mean that price when hit this ZL will go further down right? It means that SOMETHING will happen , further move down or the total opposite. So we wait on lower TF and look at PA to see what's gonna happen and if we see momo up we wait for zl this momo and enter long, or momo down we wait for zl this one and enter short? Do I start to get it right?

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adaseb
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Postby adaseb » Mon Nov 23, 2009 6:44 am

I keep scanning the markets for any potential trades and I found one setup that might take place in an hour or so.

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Seems there is a wick in direction of loss on the weekly and a large down MOMO is forming on the H1 has we speak. The target is the upper MZ line on the H4.

If it wicks the H1 MZ then I will look for entries.

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adaseb
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Postby adaseb » Mon Nov 23, 2009 6:55 am

Taking a second look I notice that there might be a support level which might make shorting difficult.

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Almost a triple bottom formation

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Postby adaseb » Mon Nov 23, 2009 7:25 am

Wicked that MightyZone

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Looked for entry on M5. Entered at yellow line

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Closed again me. Tried to get out. Lost -2 pips plus the spread (-3)

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Postby pablo101 » Mon Nov 23, 2009 10:52 am

I don't want to confuse anyone but ignore me if you're really just concentrating on zlines and mo-zones.

Price is bouncing weekly supply and demand. I'm not sure about direction, I often get confused when I get to lower time frames :shock: . Trade what I see I guessing and wait for h4 to close.

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Oh one more thing on the H4 chart, the recent 50% zline could be a reversal area, sorry forgot to add that on the chart, if so then maybe wait for it to close.
What line? The line that tells you which way you are trading! - MO

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adaseb
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Postby adaseb » Tue Nov 24, 2009 12:58 am

Well another disappointing day. a M5 candle closed against me and got out at BE and lost the potential of 50+ pips.

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Postby es/pip » Tue Nov 24, 2009 1:44 am

i was in and out of it 3 times and missed the down move as well

caught a little off the m15-scalps, but not what i was looking for



:evil:
Bend over and assume the position for another 4 years of hope and change.

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adaseb
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Postby adaseb » Tue Nov 24, 2009 6:53 am

Finally a good trade. Never had any draw down. Should of exited earlier though. 18 pips.



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