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

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adaseb
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Postby adaseb » Tue Jun 01, 2010 8:14 am

Pro Trader wrote:Hi All.

2nd day live trading. Entry seemed ok, still need to work on exits.

H4: Price was reversing from a zline within a momo candle.

H1: Price was reversing from the 50% level of a momo.

15m took entry as per Dragons method with a 20 SL.

Target was long yellow line but exit was at the short yellow line which was on a green candle coming back up (the 3rd red candle you see from the reversal). Took 12 pips.

Price just reached my target now as I'm typing.

Hopefully I can hold more in the future.

Any advice or comments are appreciated.

H4

Image

H1

Image

15m Entry

Image


I took the exact same trade. Good job.

My only advice, hold on to your trades longer. Look for targets on the 0 to 50% of any H1 candle. In this case there was none however a good target could of been the 0% of the H4 bullish candle.

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Postby Pro Trader » Tue Jun 01, 2010 9:31 am

pablo101 wrote:
Pro Trader wrote:Hi All.

2nd day live trading. Entry seemed ok, still need to work on exits.

H4: Price was reversing from a zline within a momo candle.

H1: Price was reversing from the 50% level of a momo.

15m took entry as per Dragons method with a 20 SL.

Target was long yellow line but exit was at the short yellow line which was on a green candle coming back up (the 3rd red candle you see from the reversal). Took 12 pips.

Price just reached my target now as I'm typing.

Hopefully I can hold more in the future.

Any advice or comments are appreciated.

15m Entry

Image


Looks like you doing good :)

Where's you entry Pro, the 15 min at 50% line?

Holding is always tough but I think you could have held more since it was a H4 zline and H1 confluence around that area.

Saying that GU is annoying to trade these days so I closed out early rather than holding, looks like right decision so far, not sure :roll:

Image


Cheers Pablo

I entered at 0% of the 15m candle. Would the 50% have been better? I mean technically yes because the SL would have smaller so potential for greater r/r. Is that where you normally enter?

Yes holding is my main focus now. Im used to taking pips when they are on the table so I'll need to get in the habit of holding. Especially when your sat for 2 or more hours waiting for the setup, taking only a few pips when the perfect setup comes along is not very useful.

I was watching GU aswell. There was a similarish setup but I didn't take it. As you said EU had the H4 and H1 confluence

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Postby Pro Trader » Tue Jun 01, 2010 9:38 am

adaseb wrote:
Pro Trader wrote:Hi All.

2nd day live trading. Entry seemed ok, still need to work on exits.

H4: Price was reversing from a zline within a momo candle.

H1: Price was reversing from the 50% level of a momo.

15m took entry as per Dragons method with a 20 SL.

Target was long yellow line but exit was at the short yellow line which was on a green candle coming back up (the 3rd red candle you see from the reversal). Took 12 pips.

Price just reached my target now as I'm typing.

Hopefully I can hold more in the future.

Any advice or comments are appreciated.

H4

Image

H1

Image

15m Entry

Image


I took the exact same trade. Good job.

My only advice, hold on to your trades longer. Look for targets on the 0 to 50% of any H1 candle. In this case there was none however a good target could of been the 0% of the H4 bullish candle.


Yes I'll have to bear the long term targets in mind and try not get out as soon as I see a candle of the opposite colour coming in my direction. SL wouldn't have been hit on this trade anyway.

Where did you exit on this trade?

Are you signed into the Two Percent Club on paltalk when you trade or any other IM service, or anyone else who trades this way? I'm glad there was someone else with experience who took the same trade I did

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Postby scheeco » Tue Jun 01, 2010 10:54 am

not sure what I was not seeing in this trade - but clearly I made a stupid trade!
Lost 20 pips as i got stopped out.


Flaky Analysis follows:
So I saw the H4 MOMO candle create a sema on the blue rectangle area
(0-50% FIB LEVEL).
I THOUGHT this would be a possible reversal.
There was no zeroline on the H4 chart.

Dropped down to M15 looking for an entry.
3 SEMA created - so had my confirmation - now I was waiting for my RAT entry.

The green candle with the 3 sema closed above the 50% level of the previous red candle so I THOUGHT I was good to enter.
I believed I did my checks and analysis...
Placed the long entry and watch the price drive down to stop me out!

Image


Image

Any comments and advice would be helpful!
I evidently did not see something or ignored something.
thanks!

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dragon33
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Postby dragon33 » Tue Jun 01, 2010 11:08 am

scheeco wrote:not sure what I was not seeing in this trade - but clearly I made a stupid trade!
Lost 20 pips as i got stopped out.


Flaky Analysis follows:
So I saw the H4 MOMO candle create a sema on the blue rectangle area
(0-50% FIB LEVEL).
I THOUGHT this would be a possible reversal.
There was no zeroline on the H4 chart.

Dropped down to M15 looking for an entry.
3 SEMA created - so had my confirmation - now I was waiting for my RAT entry.

The green candle with the 3 sema closed above the 50% level of the previous red candle so I THOUGHT I was good to enter.
I believed I did my checks and analysis...
Placed the long entry and watch the price drive down to stop me out!

Image


Image

Any comments and advice would be helpful!
I evidently did not see something or ignored something.
thanks!


You need to wait for confirmations candle. First see a graan candle close than your rat entry.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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Postby scheeco » Tue Jun 01, 2010 11:18 am

Thanks Dragon,
The Green candle with 3 sema did close and I immediately placed my long entry at the candle high (as it formed)...I am scratching my head and giving myself a nosebleed at the same time trying to figure out what I did wrong.

I am sure more experienced traders just would not have taken it - but I wish I knew why they would not.

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dragon33
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Postby dragon33 » Tue Jun 01, 2010 11:35 am

scheeco wrote:Thanks Dragon,
The Green candle with 3 sema did close and I immediately placed my long entry at the candle high (as it formed)...I am scratching my head and giving myself a nosebleed at the same time trying to figure out what I did wrong.

I am sure more experienced traders just would not have taken it - but I wish I knew why they would not.


A zeroline or S/R area is not a place to enter. It is your confirmation you picked the right area or not. Is price ready to stop there? I don't know so i wait for the first candle to show up. If price closed below that area you need a strong candleclose above the line on the next candle if not see picture.
Image
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

scheeco
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Postby scheeco » Tue Jun 01, 2010 11:54 am

Thanks Dragon,
so you are looking at MOMO candles all the time.And once a MOMO closes you look to see what is happening.

You are watching candle after MOMO candle to check price direction.
In this case the candle after MOMO candle had a wick in direction of loss which was long , so price will continue to drop?

But I think what confuses me as that the green candle to me was a MOMO candle as it had a body 2x the previous candle.
The wick in direction of loss - so to my eyes it seemed i should go long.
Perhaps the green MOMOcandle was not enough MOMO to create a reversal which begs the question - what would be enough and how do I identify it?

Again - thank you and apologies for stupid questions!

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Postby dragon33 » Tue Jun 01, 2010 12:18 pm

scheeco wrote:Thanks Dragon,
so you are looking at MOMO candles all the time.And once a MOMO closes you look to see what is happening.

You are watching candle after MOMO candle to check price direction.
In this case the candle after MOMO candle had a wick in direction of loss which was long , so price will continue to drop?

But I think what confuses me as that the green candle to me was a MOMO candle as it had a body 2x the previous candle.
The wick in direction of loss - so to my eyes it seemed i should go long.
Perhaps the green MOMOcandle was not enough MOMO to create a reversal which begs the question - what would be enough and how do I identify it?

Again - thank you and apologies for stupid questions!


Momo is just more then 2 times as previous. You should consider the candles before also. When the dropcandles are larger then you have to wait a bit more. But the issues is indeed how price act after momo. Does momo hold or not thats the question you need to ask yourself over and over again.
Trading is like cycling, first you need to learn how.

Two options: you either lose or win!

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Postby bacoazul » Tue Jun 01, 2010 2:56 pm

Loser trade on EJ

H4 support/MZ



M5 Entrie

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