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

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adaseb
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Re: Hello

Postby adaseb » Sat Mar 13, 2010 6:12 pm

N2FX wrote:This is my first post on the forum, but a long time viewer.

I am a short term scalper, and would like to learn longer time frames like 1 hour.

Cheers, and good thread.

N2FX

I added my charts showing the type of setups I trade.
This was the New York session.
10:30 am EST Friday 3-12-2010.


is that a tick by tick chart?

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es/pip
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Re: Hello

Postby es/pip » Sat Mar 13, 2010 6:24 pm

N2FX wrote:This is my first post on the forum, but a long time viewer.

I am a short term scalper, and would like to learn longer time frames like 1 hour.

Cheers, and good thread.

N2FX

I added my charts showing the type of setups I trade.
This was the New York session.
10:30 am EST Friday 3-12-2010.



nice to see you posting here N2FX


good PA/scalper here guys
Bend over and assume the position for another 4 years of hope and change.

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tmanbone
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Re: Hello

Postby tmanbone » Sun Mar 14, 2010 12:42 am

adaseb wrote:
N2FX wrote:This is my first post on the forum, but a long time viewer.

I am a short term scalper, and would like to learn longer time frames like 1 hour.

Cheers, and good thread.

N2FX

I added my charts showing the type of setups I trade.
This was the New York session.
10:30 am EST Friday 3-12-2010.


is that a tick by tick chart?


We're all eyes N2FX. I have the same question about the bigger chart timeframe. Welcome,
"The simplicity of the markets is it's greatest disguise"

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N2FX
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Good Evening

Postby N2FX » Sun Mar 14, 2010 3:38 am

Adaseb, yes that is a 1 tick chart with a little revision.
I trade the 5/15 min chart with a 1/5 tick for entry.

Hey ES/pip, good to be here, figured I would join here to learn from you guys, do share.....
Enjoy your weekend, should be a great next week, finally seeing some good swings now the low has been rejected for 4 weeks now.


Tmanbone, I try to look at every time frame in the same light, but I have small patience when it comes to staying in a trade, I prefer 1 min trades, but no more then 15 min in the position.
I watch 1 hour wick points, and 4 hours also to pin point stall levels, usually those will give a good bounce on the 1/5 tick, and can be seen on a 5 or 15 min rejection candle.

Have a great weekend guys.

N2FX
Last edited by N2FX on Sun Mar 14, 2010 4:08 am, edited 1 time in total.

N2FX
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Explanation

Postby N2FX » Sun Mar 14, 2010 3:55 am

If you were to look at my 1tick/5min charts on the previous page, you could possibly say, yea, there is a trade there.

Let me explain my reasoning to watch that area.

Chart 1 - 4hour EU, you can see the 1.3736 was previous stall high, then taken down to the 1 hour, there was a candle closed hitting this level prior to my entry Chart 2 - 1hour EU.

The hourly was giving some good wick rejection showing me that it was timid, and was not wanting to go too deep, basically it was exploring a level for support.

Enjoy,

N2FX
Attachments
EU 1 hour.jpg
EU 1 hour.jpg (46.67 KiB) Viewed 975 times
EU 4 hour.jpg
EU 4 hour.jpg (46.28 KiB) Viewed 975 times

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tmanbone
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Re: Explanation

Postby tmanbone » Sun Mar 14, 2010 4:08 am

N2FX wrote:If you were to look at my 1tick/5min charts on the previous page, you could possibly say, yea, there is a trade there.

Let me explain my reasoning to watch that area.

Chart 1 - 4hour EU, you can see the 1.3736 was previous stall high, then taken down to the 1 hour, there was a candle closed hitting this level prior to my entry Chart 2 - 1hour EU.

The hourly was giving some good wick rejection showing me that it was timid, and was not wanting to go too deep, basically it was exploring a level for support.

Enjoy,


N2FX


Looks like the candle circled far right H4 wicked the zline/mighty zone; you've found the right place to increase your skills. Glad your here.
"The simplicity of the markets is it's greatest disguise"



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Postby N2FX » Sun Mar 14, 2010 4:12 am

Tman, yea, I have been reading here for some time, and have tried to figure out exactly what a z line is, I understand a momentum move with pullback to test, but I have a long way to go to figure the things mentioned here on this thread.

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tmanbone
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Postby tmanbone » Sun Mar 14, 2010 4:23 am

I know it's a long read but it would be well worth your time to read through the Never Lose Again thread, if I'm not mistaken somewhere starting with page 130. You will get a good grasp on MO's zline/mighty zone methodology. This is what most of the traders in this thread are pursuing. Dragon33, es/pip, adaseb and quite a few others have a good grasp on it. MO has started a new thread, it should be interesting, you can find it here: http://kreslik.com/forums/viewtopic.php?t=2406. He was born to trade.
"The simplicity of the markets is it's greatest disguise"



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Humble
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Postby Humble » Mon Mar 15, 2010 2:23 am

N2FX wrote: a z line is, I understand a momentum move with pullback to test, but I have a long way to go to figure the things mentioned here on this thread.


Welcome N2FX, (I think you're not so new somehow.)

Your chart captured it pretty well, but the reason we are all agreeing with your chart is because of the memo bar. Previous resistance taken out with memo and area retested with a tail.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Humble

Postby N2FX » Mon Mar 15, 2010 4:07 am

New in posting, but long time viewer, I can see trades real quick on my time frames, but not so good with 1 hour or further out.

1.3725 low on Friday NY session was just reached, and I took a quick scalp on my 1/5 tick chart, but will watch to see if we break this area to continue deeper.
Great areas to expect a quick trade on these areas that were once visited.

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