Good morning Lem and Happy Eastern !
We are awaiting another bright and sunny day with 20+ degrees celsius
BZ BuyZone ... Okay another sweet candy in your brimming treasure chest.
I tried to find a thread or something about the BZ but both words are too short ... would you, could you explain about it or point me in the right direction (thread) please?
Or is it really that simple ... Always trade away from the Weekly Open ... if price is above the daily open buy at +8/+10 and vice versa?
Hope you get some sun too!
"The sun has got his hat on,
The sun has got his hat on
and he's coming out today".
I always thought that last line was ..." coming out to PLAY".
Ha, you learn something new every day.
Yeah, been up far, far, too late last night and feel like I am still not quite in the world, lol.
There will be no trading from this particular monkey today, my friends.
BZ...I can certainly fill you in on what I know about the method. I have talked with others and read some stuff in the past and I should say that I think I run it in as as simple a way possible.
Basically, you got it right:
Always trade away from Weekly Open...
Enter at +7 or +8 from there.
Nominally the target is +2 (as shown by the indi) and if I am set-and-forgetting, then that's what I do (across all the pairs available and showing set ups, all those +2 bags mount up).
If I am nursing the entries, then I will look to lock in that +2 and then let the trade run and manage it in the usual ways.
Also, as mentioned somewhere, I am sure I should be adjusting those entry levels according to some ADR parameter or something but I never did. I just take the thing out the box, stick it on the charts and let it do it's thaaaang.
My twist to it is my use of S+D Zones to give me some kind of additional bias information.
Aaaaaaand...as I have added the thing to a few different brokers in a few different time zones, I make no attempt to adjust them all to start on the same candle (ie to match UK time) I simply let it set itself up to run off that particular broker's Midnight candle.
I do usually use the UK 00:00 start but not always.
Doesn't seem to make one bit of difference.
As for threads, try searching for "Buy Zone for Dummies" I think. That rings a bell. Honestly, I just picked up the indicator and stuck it on a chart
Enjoy that sun!!!
(Hope this isn't our summer. AOC says the world is going to end in, like, 12 years, so we don't have many left).