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

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gfg1
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Postby gfg1 » Fri Jan 22, 2010 3:50 pm

vane wrote:
PTG wrote:
vane wrote:when you say bullish-> bearish, is this some kind of pattern, I would like to know more about that, looks interesting.


That's a bearish key reversal bar: higher high, lower close than the previous bar.

A bullish key reversal is a lower low, lower close than the previous bar.

I believe Zapzinig has made a bunch of comments on it in the NLA thread.


FX-Jedi was the teacher of the technique, i did not know that he changed the name..Thanks a lot PTG for the clarification :wink:

Key reversal= BB :D


Somewhere in kreslik, BLubb posted an indicator: Blubb_KeyReversalAlert that addresses this, if I recall correctly.

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Postby PTG » Fri Jan 22, 2010 3:54 pm

vane wrote:
PTG wrote:
vane wrote:when you say bullish-> bearish, is this some kind of pattern, I would like to know more about that, looks interesting.


That's a bearish key reversal bar: higher high, lower close than the previous bar.

A bullish key reversal is a lower low, lower close than the previous bar.

I believe Zapzinig has made a bunch of comments on it in the NLA thread.


FX-Jedi was the teacher of the technique, i did not know that he changed the name..Thanks a lot PTG for the clarification :wink:

Key reversal= BB :D


I suppose you're right, I'm bad at names :shock: :-#

I think BB is more than KR; with BB you can have that higher high or lower low in either of the two bars.

Somebody correct me if I'm wrong please :smt017

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Postby adaseb » Fri Jan 22, 2010 3:56 pm

I just used BB because MO posted a chart where he used it.

I guess key reversal is the same.

It needs a higher hit on the bullish candle but a close LOWER than the open on the bearish bar.

Vice versa

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Postby PTG » Fri Jan 22, 2010 4:10 pm

adaseb wrote:I just used BB because MO posted a chart where he used it.

I guess key reversal is the same.

It needs a higher hit on the bullish candle but a close LOWER than the open on the bearish bar.

Vice versa


The KR as i understood it is a higher hit and a lower close on the bearish bar (v.v.)

However if you watch the charts they both work.

The H1 on GU now has a bearish to bullish KR; previous hourly has a lower low and a higher close.

I was already long from 1.6088 in the bar before that (the last bearish bar) for a swing trade that I set up earlier today. Reason: Jan 12 was a congestion area that price had exploded away from, meaning in imbalance = demand zone in this case. This was the first time price revisited.
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Postby PTG » Fri Jan 22, 2010 4:13 pm

gfg1 wrote:
vane wrote:
PTG wrote:
vane wrote:when you say bullish-> bearish, is this some kind of pattern, I would like to know more about that, looks interesting.


That's a bearish key reversal bar: higher high, lower close than the previous bar.

A bullish key reversal is a lower low, lower close than the previous bar.

I believe Zapzinig has made a bunch of comments on it in the NLA thread.


FX-Jedi was the teacher of the technique, i did not know that he changed the name..Thanks a lot PTG for the clarification :wink:

Key reversal= BB :D


Somewhere in kreslik, BLubb posted an indicator: Blubb_KeyReversalAlert that addresses this, if I recall correctly.


Yes now that you mention it - I seem to remember that. It must be in his Free Indicator thread then.
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Postby gfg1 » Fri Jan 22, 2010 4:15 pm

PTG wrote:
adaseb wrote:I just used BB because MO posted a chart where he used it.

I guess key reversal is the same.

It needs a higher hit on the bullish candle but a close LOWER than the open on the bearish bar.

Vice versa


The KR as i understood it is a higher hit and a lower close on the bearish bar (v.v.)

However if you watch the charts they both work.

The H1 on GU now has a bearish to bullish KR; previous hourly has a lower low and a higher close.

I was already long from 1.6088 in the bar before that (the last bearish bar) for a swing trade that I set up earlier today. Reason: Jan 12 was a congestion area that price had exploded away from, meaning in imbalance = demand zone in this case. This was the first time price revisited.


Nice PTG. Guess I need a bigger screen to see back that far. lol

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Postby cfabian » Fri Jan 22, 2010 4:21 pm

Great Fx, I got your point... actually I was committing the same mistake at some point until I got more confidence on looking higher time frames.

As per your 2nd image and selling there... I did that blindly as well, however, I now like the idea of taking the BO of the confirmation candle in lower TF. I'm still working on this... I'll post my trades from yesterday during the day... I still screw and got nailed heavily.



Fxtraveller wrote:
cfabian wrote:Hey Fxtraveller,
Can you please be more specific or post a chart about what you mean by "...Lukx, dont make the mistake I was making for a while with zlines. look for a zline on the past 3-5 candles. that is going with momentum "

Not sure if getting it clearly, or is as simple that I'm over complicating...

Cheers


Fxtraveller wrote:Lukx, dont make the mistake I was making for a while with zlines. look for a zline on the past 3-5 candles. that is going with momentum

U are going to buy whe its going down. the buy zone that u see- it might offer a retracement, not a reversal. stick to current h4 momo.

I just entered short and got out with 0 pips, PA was weird for bout 30 minutes, didnt like that, so got out. but it still went my way- down !!



cfabian, remember es/pip would insist that he trades zlines mostly on consecutive candles? see Pic '1' below.

If price comes back later, thats also zline, but its commonly called everywhere support becomes resistance and vice cersa (see pic '2')

+ if after pic 2 u look at pic 1, u would identify a BO point where one could enter ;)


finally, to answer you question, lukx was looking to go long on an 'old' zline while H4 momo down was MANIC. there is nothing wrong with old zlines, but

1) quite often they've been somehow wicked and we dont notice them, and
2) stick to most recent momo, explanations in pic 3.

hope that helps. the first 2 pics are the summary of ZLines to me anyway.

happy trading
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Postby PTG » Fri Jan 22, 2010 4:30 pm

gfg1 wrote:
PTG wrote:
adaseb wrote:I just used BB because MO posted a chart where he used it.

I guess key reversal is the same.

It needs a higher hit on the bullish candle but a close LOWER than the open on the bearish bar.

Vice versa


The KR as i understood it is a higher hit and a lower close on the bearish bar (v.v.)

However if you watch the charts they both work.

The H1 on GU now has a bearish to bullish KR; previous hourly has a lower low and a higher close.

I was already long from 1.6088 in the bar before that (the last bearish bar) for a swing trade that I set up earlier today. Reason: Jan 12 was a congestion area that price had exploded away from, meaning in imbalance = demand zone in this case. This was the first time price revisited.


Nice PTG. Guess I need a bigger screen to see back that far. lol


Easy to spot on the H4 :wink:

Note to self: this trade is against my tradeplan as a swingtrade :roll:
No swingtrades on the Friday, stupid [-X :smt071 :smt102
(I'm fairly new to my new tradeplan.. lol)
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Postby Pema » Fri Jan 22, 2010 4:49 pm

Hey guys,

Missed the run down because of work. But this one I could manage :)


Peter

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Postby vane » Fri Jan 22, 2010 4:52 pm

A few post ago i wrote this, I know this does not occur all the time, the
momentum can be analyzed this way or you analyze it differently, I want your
feedback guys :wink:

vane wrote:This could be the last one for today..

What do you think boys about my momentum analisys?? :oops: when the momentum is over is time for a reversal, ok we have to see suport and resistence too.


Image


Image

all in order to learn a little more about it :)

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