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

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jarnapal
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Postby jarnapal » Mon Aug 09, 2010 6:56 am

Dragon, are these Blubb's custom candles ?

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bredin
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Postby bredin » Mon Aug 09, 2010 7:38 am

look like candles-m-candles to me: I can see the wicks and tails.

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dragon33
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Postby dragon33 » Mon Aug 09, 2010 8:38 am

jarnapal wrote:Dragon, are these Blubb's custom candles ?


I don't use CC only H1 overlay and H4 charts with daily overlay
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scheeco
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Postby scheeco » Mon Aug 09, 2010 8:56 am

dragon33 wrote:Image


With this there was also some confirmation candles along with the Railroad Tracks:
The H1 RailRoad TRacks would indicate a possible reversal but ideally you will still want to see some confirmation.
The yello circle at the bottom is also a nice looking M15 hammer with price quickly rejected in that area.
And again M15 Railroad tracks form. So Three indictions...
But we can look back a little bit more and see that Aug 5 07:15 made a daily low, was retested at Aug 5 15:15 and rejected.

Just looking at key things Dragon mentions will lead to profitability.

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lukx
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Postby lukx » Mon Aug 09, 2010 11:36 am

hmmm what did I do wrong ?

Image

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flex
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Postby flex » Mon Aug 09, 2010 11:52 am

a question for dragon.

Image

i began on h4. look at bar 1. a bear candle that failed to close lower and instead has long lower wick. after it closed i switched to h1:

Image

then after price came back into the zone i used the rat technique to enter.

Image

loss :(

what was my mistake?

flex
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Postby flex » Mon Aug 09, 2010 11:53 am

lol
we did the same thing.
maybe just bad luck. ;)

scheeco
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Postby scheeco » Mon Aug 09, 2010 12:04 pm

lukx wrote:hmmm what did I do wrong ?

Image


Hi Lukx, I am not voice of authority but I am watching this pair and I have not seen an entry yet.
I am hesitant...and let me tell you why.
6 Aug 14:15 we have a high (3 sema) with a nice pair of tweezers at the top and strong rejection .It was tested on the 8 Aug 17:30 ( 1 sema) and rejected-- so this resistance is stronger at this level now.
This morning 09:15 this level was tested again (2 sema) and was rejected so this resistance level is now strong.I doubt it will get tested again so I am biased to a short.

But we see a Long H1 MOMO candle form so I am thinking ..ah maybe we can go up but apart from the MOMO what is there to substantiate going long.
At the bottom of the chart there sia 2 sema and 3 sema on the same line - so we know this is a strong level of support which will probably get tested again.
So really right now I see no clear indication of where price want to go to...I actually seeing it stuck in a range between Support and Resistance.
The last H1 SHORT MOMO did make a new 1 Sema on the M15 Chart and it is at the 1.5950 level so there are some additional factors which could make this an entry point...following RAT entry rules...this might be an entry long there...but watch the previous resistance especially at 1.60

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dragon33
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Postby dragon33 » Mon Aug 09, 2010 12:17 pm

Guys price is just between two areas nothing more.

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Postby Jalarupa » Mon Aug 09, 2010 12:41 pm

lukx wrote:hmmm what did I do wrong ?

Image


lukx - I'm just gonna throw my 2 cents observations here, as I have been short all day on this pair and have been monitoring it with a keen eye looking for a move off the daily - monthly extreme...

Now your entry although correct in terms of the Zline method... You didn't account for the possibility of buying into the daily open... I've noticedhow price has been retreating from this area (three times at great momentum)

You were also buying into an area of resistance... marked by your TRO FIBS SR indicator...

You were also buying into a wick doll if you use spacial intellect to connect the two large bear candles to your left...

Just my observations...

I know you trying to rat entry as apposed limit in, but remember the safest rat is off an extreme...

Image

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