lukx zline trading log + cfabian p.35 + adaseb p.48
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I must say I'm impressed by all of the Z-liners !
Good stuff.
Here's my 0.02$ on the USDCAD:
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.
Good stuff.
Here's my 0.02$ on the USDCAD:
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.
There's no business like [strike]show[/strike] covid19 business.
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.
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.
There's no business like [strike]show[/strike] covid19 business.
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