Daily Forex Trading
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- achooblessyou
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Re: Daily Forex Trading
AU daily z line. Probably a good area for a 123 to happen.
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- achooblessyou
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Re: Daily Forex Trading
Closed too soon -.-
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- achooblessyou
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Re: Daily Forex Trading
achooblessyou wrote:AU daily z line. Probably a good area for a 123 to happen.
AU 123 +5 using the new fib knowledge
- LeMercenaire
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Re: Daily Forex Trading
Mr. Hyde wrote:So here is the quick and dirty on zlines for ya. the concept is a zline is an area where price leaves from (with momentum) and traders are sitting with profit, that price is likely to return to, to zero those traders (breakout traders that moved there stops to breakeven) and then continue in the same direction.
It was originally meant to be used on HTF 4hr and up and on back to back candles. So you would have candle 1 which is a smaller candle, candle 2 which is momo (body in direction of profit BDP) and the 3rd candle that wicks back into candle 2 then continues in candle 2 direction (wick in the direction of loss or wickdoll).
That's the basic's. It has morphed and changed as more and more members have used it and added to it.
O yea and on the momo candle the open to the 50% area is called the mighty zone (MZ).
So, if price had closed over that Z-Line and then retested that, would you have gone long, instead of the short you entered as it closed under?
- LeMercenaire
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Re: Daily Forex Trading
I'm guessing this qualifies as a valid trade?
I think I've Z-Lined before I knew what a Z-Line was, lol.
I think I've Z-Lined before I knew what a Z-Line was, lol.
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- LeMercenaire
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Re: Daily Forex Trading
Or maybe not - I dunno. Too many rules for my wee brain. I just run a 50-Fib over it and wait for a Claudia-Move...Break - Close Over - Re-Test - Enter...
Or don't close over it and take the bounce.
Or don't close over it and take the bounce.
Re: Daily Forex Trading
LeMercenaire wrote:Mr. Hyde wrote:So here is the quick and dirty on zlines for ya. the concept is a zline is an area where price leaves from (with momentum) and traders are sitting with profit, that price is likely to return to, to zero those traders (breakout traders that moved there stops to breakeven) and then continue in the same direction.
It was originally meant to be used on HTF 4hr and up and on back to back candles. So you would have candle 1 which is a smaller candle, candle 2 which is momo (body in direction of profit BDP) and the 3rd candle that wicks back into candle 2 then continues in candle 2 direction (wick in the direction of loss or wickdoll).
That's the basic's. It has morphed and changed as more and more members have used it and added to it.
O yea and on the momo candle the open to the 50% area is called the mighty zone (MZ).
So, if price had closed over that Z-Line and then retested that, would you have gone long, instead of the short you entered as it closed under?
Um, price did close over the zline and the trade was long.
- LeMercenaire
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Re: Daily Forex Trading
Mr. Hyde wrote:LeMercenaire wrote:Mr. Hyde wrote:So here is the quick and dirty on zlines for ya. the concept is a zline is an area where price leaves from (with momentum) and traders are sitting with profit, that price is likely to return to, to zero those traders (breakout traders that moved there stops to breakeven) and then continue in the same direction.
It was originally meant to be used on HTF 4hr and up and on back to back candles. So you would have candle 1 which is a smaller candle, candle 2 which is momo (body in direction of profit BDP) and the 3rd candle that wicks back into candle 2 then continues in candle 2 direction (wick in the direction of loss or wickdoll).
That's the basic's. It has morphed and changed as more and more members have used it and added to it.
O yea and on the momo candle the open to the 50% area is called the mighty zone (MZ).
So, if price had closed over that Z-Line and then retested that, would you have gone long, instead of the short you entered as it closed under?
Um, price did close over the zline and the trade was long.
Ho Hum...I was looking at the wrong chart...
Re: Daily Forex Trading
LeMercenaire wrote:Mr. Hyde wrote:LeMercenaire wrote:
So, if price had closed over that Z-Line and then retested that, would you have gone long, instead of the short you entered as it closed under?
Um, price did close over the zline and the trade was long.
Ho Hum...I was looking at the wrong chart...
Haha, ok.
- achooblessyou
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Re: Daily Forex Trading
whew had to fix a nasty little 123 on EU forgot to check for news today. got caught in that bad US news. thankfully i had some trusty demand zones to paint me a clear path out of it, came out on top with 2%
EG looking interesting at a demand zone that is located at the 50% of a some large momo
EG looking interesting at a demand zone that is located at the 50% of a some large momo
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