lukx zline trading log + cfabian p.35 + adaseb p.48

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IN-XS
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Postby IN-XS » Wed Jan 20, 2010 5:23 pm

Eur/Jpy looks like it might still be going down!

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adaseb
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Postby adaseb » Wed Jan 20, 2010 5:42 pm

IN-XS wrote:Eur/Jpy looks like it might still be going down!


Yeah but that large H1 bar means there might be a short term reversal.

If I got in at the right spot then its 50-100+ pips easy.

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Postby IN-XS » Wed Jan 20, 2010 5:45 pm

Ok I see what you are saying, probably gonna close my trades now, as I think I am done for today, see you guys later!

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Postby adaseb » Wed Jan 20, 2010 6:01 pm

Image

Image

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Postby adaseb » Wed Jan 20, 2010 11:23 pm

Here is a loser that I had earlier.

Image
Image

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Postby PTG » Wed Jan 20, 2010 11:28 pm

I must say I'm impressed by all of the Z-liners ! :smt023
Good stuff.

Here's my 0.02$ on the USDCAD:

Image

Price went straight through a supply zone today, which now has become a demand zone. I'm looking at the following: wait for price to retrace to that zone and go long at 1.0423 with a s/l below the bottom of the zone at 1.0390, with a first target at 1.0520 for a r/r of 3, second target of 1.0615 (r/r almost 6) and the third target at 1.0700. Set and forget.

If I was short right now, I would target 1.0423.

O by the way, you can't see it on this chart, but price bounced very nice off the low at 1.0231, being the top of a demand zone. A trade taken from that point would have been 230+ pips in profit right now.
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Postby adaseb » Thu Jan 21, 2010 12:56 am

I just closed those GU EJ and UC trades.

Today over 200+ pips!!!!!!

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Postby PTG » Thu Jan 21, 2010 1:00 am

Great !! =D>

The UC has bounced off the EMA200 on H4. My long orders are 12 pips below that..
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Postby IN-XS » Thu Jan 21, 2010 1:27 am

Nice PTG! Whats the USD/CAD like to trade?

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Postby PTG » Thu Jan 21, 2010 1:55 am

Well - right now it appears to be ok. The only thing I would worry about is over- and undershoot relative to the zones but that appears to be ok now. It will wick you out if your s/l is not big enough. A bigger s/l in turn makes the minimum required 2:1 risk-reward ratio more difficult.

We'll see how this one works out. Actually, I count this as my 2nd trade using this method (Sam Seiden stuff). It might take off without me. I might get wicked out. I might have overlooked something. We'll see. If it reaches the first profit target, I have a free trade for the rest plus some profit. It won't work all the time, but you keep losses low and profits high this way. The best place to get in trades like this are the extremes when price revisits after a breakout. Low risk, high probability.

Just to show what the possibilities are on swing trading as an alternative or addition to the zline daytrading. One could use this for daytrading as well (on H1, down to M15). You can use it on anything, including futures, options, shares.
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