Daily Forex Trading

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achooblessyou
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Re: Daily Forex Trading

Postby achooblessyou » Tue May 15, 2018 11:14 am

AU daily z line. Probably a good area for a 123 to happen.
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Re: Daily Forex Trading

Postby achooblessyou » Tue May 15, 2018 11:18 am

Closed too soon -.-
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Re: Daily Forex Trading

Postby achooblessyou » Tue May 15, 2018 12:23 pm

achooblessyou wrote:AU daily z line. Probably a good area for a 123 to happen.

AU 123 +5 using the new fib knowledge

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Re: Daily Forex Trading

Postby LeMercenaire » Tue May 15, 2018 12:47 pm

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?

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Re: Daily Forex Trading

Postby LeMercenaire » Tue May 15, 2018 12:55 pm

I'm guessing this qualifies as a valid trade?

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I think I've Z-Lined before I knew what a Z-Line was, lol.

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Re: Daily Forex Trading

Postby LeMercenaire » Tue May 15, 2018 12:57 pm

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.

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Re: Daily Forex Trading

Postby Mr. Hyde » Tue May 15, 2018 1:05 pm

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.

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Re: Daily Forex Trading

Postby LeMercenaire » Tue May 15, 2018 2:09 pm

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... :P

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Re: Daily Forex Trading

Postby Mr. Hyde » Tue May 15, 2018 2:32 pm

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... :P


Haha, ok.

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Re: Daily Forex Trading

Postby achooblessyou » Tue May 15, 2018 4:46 pm

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% :mrgreen:

EG looking interesting at a demand zone that is located at the 50% of a some large momo

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