MightyOne wrote:poipen wrote:i hate to be a "leecher" but can anyone point me in the direction of where MO starts explaining Z-lines in the "never lose again" thread?
Btw great trading Fxtraveller
1. Momentum crosses a line to the short side (lines are imaginary )
2. Price recrosses said line
3. Trade in expectation of price closing lower than said line in the period of time in which momentum has taking place (or 2 periods as a Rat setup is basically a slow burning wick).
4. wait for momentum.
5. liquidate at/below the lowest price.
Now lets say that you got your momo and the next candle broke out and then closed higher than the low extreme.
You can now look for long trades as price has shown an unwillingness to trade lower.
1. wait for momo
2. liquidate at/above the highest prices.
Oh, I saved you so much time
haha thanks MO! i have some studying to do