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

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dragon33
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Postby dragon33 » Tue May 18, 2010 7:55 pm

adaseb wrote:Dragon33,

Are we all know that not all H4 mighty-zones actually work out. Sometimes it can pullback in a region where we would normally short/long and then trick us and stop us out.

When do you decide that a particular MZ didn't hold and time to consider the trade failed?


When price is running to the openprice or mightyzone and stops at the open price the first target for me is back the 50% if at that area forms a new H1 in the direction to open price then the chance of breaking is big.

I take my trades in peaces and i always use the H1 bodies to target or the 50% areas on H4
After targeting i do not try to reverse because you will burn your ass a lot, you only can do that when there is high volume in the market.

Image

In this picture you can see price bouncing between the lines. When price stays in the range of the market candle i assume there will come a BO or a test of the same level. For BO compare the candle en the strengt of them, time and speed are always important.
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dragon33
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Postby dragon33 » Tue May 18, 2010 8:00 pm

lazygeorge wrote:
adaseb wrote:Dragon33,

Are we all know that not all H4 mighty-zones actually work out. Sometimes it can pullback in a region where we would normally short/long and then trick us and stop us out.

When do you decide that a particular MZ didn't hold and time to consider the trade failed?


dragon33,

I know you mainly use H4 MZ but have you ever tried daily?I was just looking at some nice daily bodies on EJ and the zones are approx 2-300 pips,my question being can the daily be used and the stop wider or have you found H4 to be optimum for your style.

You will have moved into a big mansion the way you are going so you will have plenty of space dragon33

:smt005


H4 is my basic chart, i don't have the patience for D1. But i look at the chart sometimes and when some levels fall together yes those are the big trades. Sometimes i catch them but i don't hunt them.
I only look for 30 pips per chart and i just trade 2. Over 60 pips are good days for my account.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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poipen
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Postby poipen » Tue May 18, 2010 8:04 pm

dragon33 wrote:
I hope when you guys are coming over for visiting me that you all don't come together otherwise my house will be to small :lol:

On the other hand my garden is big enough so when you take a tent you can camp in my garden :P

you guys are all welcome


i'd love to take you up on that some day dragon 8)

but... as they say "one trade at a time"

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Postby newark18 » Tue May 18, 2010 8:40 pm

To anyone who has experience coding, what do I need to delete from customcandle indicator to delete the wicks? I just want to see the CC's body. Thanks.
Failure is an opportunity to learn.

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dragon33
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Postby dragon33 » Tue May 18, 2010 8:41 pm

newark18 wrote:To anyone who has experience coding, what do I need to delete from customcandle indicator to delete the wicks? I just want to see the CC's body. Thanks.


???? CC doesn't have wicks
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Postby Lijing » Tue May 18, 2010 8:52 pm

Thank you so much dragon33. :smt058 But I am sure I will have more questions as trading opportunities present themselves in the next days and weeks.
Eh, maybe one more for today: When you mark your charts, draw a line and write "IN", I am never really sure where exactly you enter, since sometimes prices crosses the line several times. Then you enter on the pullback, right? Do you wait for an M5 candle to close first? (I am looking at your last picture at around 1600 hours)

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Postby lazygeorge » Tue May 18, 2010 9:11 pm

Lijing wrote:Thank you so much dragon33. :smt058 But I am sure I will have more questions as trading opportunities present themselves in the next days and weeks.
Eh, maybe one more for today: When you mark your charts, draw a line and write "IN", I am never really sure where exactly you enter, since sometimes prices crosses the line several times. Then you enter on the pullback, right? Do you wait for an M5 candle to close first? (I am looking at your last picture at around 1600 hours)


Lijing,

I think you'll find that those are rat entries...

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Postby adaseb » Tue May 18, 2010 9:19 pm

dragon33 wrote:
adaseb wrote:Dragon33,

Are we all know that not all H4 mighty-zones actually work out. Sometimes it can pullback in a region where we would normally short/long and then trick us and stop us out.

When do you decide that a particular MZ didn't hold and time to consider the trade failed?


When price is running to the openprice or mightyzone and stops at the open price the first target for me is back the 50% if at that area forms a new H1 in the direction to open price then the chance of breaking is big.

I take my trades in peaces and i always use the H1 bodies to target or the 50% areas on H4
After targeting i do not try to reverse because you will burn your ass a lot, you only can do that when there is high volume in the market.

Image

In this picture you can see price bouncing between the lines. When price stays in the range of the market candle i assume there will come a BO or a test of the same level. For BO compare the candle en the strengt of them, time and speed are always important.


So what are you saying is that you don't want increasing momentum into the Open-50% area because the chance of BO is higher.

If that happens you don't take the trade?
Image
Image

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dragon33
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Postby dragon33 » Tue May 18, 2010 9:54 pm

adaseb wrote:
dragon33 wrote:
adaseb wrote:Dragon33,

Are we all know that not all H4 mighty-zones actually work out. Sometimes it can pullback in a region where we would normally short/long and then trick us and stop us out.

When do you decide that a particular MZ didn't hold and time to consider the trade failed?


When price is running to the openprice or mightyzone and stops at the open price the first target for me is back the 50% if at that area forms a new H1 in the direction to open price then the chance of breaking is big.

I take my trades in peaces and i always use the H1 bodies to target or the 50% areas on H4
After targeting i do not try to reverse because you will burn your ass a lot, you only can do that when there is high volume in the market.

Image

In this picture you can see price bouncing between the lines. When price stays in the range of the market candle i assume there will come a BO or a test of the same level. For BO compare the candle en the strengt of them, time and speed are always important.


So what are you saying is that you don't want increasing momentum into the Open-50% area because the chance of BO is higher.

If that happens you don't take the trade?
Image
Image


Yep that is correct you do not short after that H1 and if you do take attention that openprice or 50% af that H1 is target. Lets assume that you take the 50% is it the risk worth?

I would wait to see what happen after the H1 an looking to go long again.

If price does not close outside the open price of the rising H1 yes i would defenitely go long.

Try to draw those lines on any significant H1 (bigger body then previous) body and observe how price acts around those areas you will be amazed how easy it is to scalp every other hours some pips.

If you are able to combine those drawing with H4 then you have a clue where price probably will run higher or lower.

In the picture below it is your situation but on a M5 chart and see what i mean. It is worth trading after a momo candle just be patient. Lets assume the H1 would have closed a bit lower. You would have waited again and see what price would have done while running up where will it close 50% or open if so take the trade it is that simple

Image
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Postby newark18 » Tue May 18, 2010 11:23 pm

dragon33 wrote:
newark18 wrote:To anyone who has experience coding, what do I need to delete from customcandle indicator to delete the wicks? I just want to see the CC's body. Thanks.


???? CC doesn't have wicks


blubbb's custom candle doesn't have wicks. Bredin's doesn't either. But I don't like their version for other reasons. The original custom candle and the one modified by TRO has wicks.
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