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

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Brookmyre
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Postby Brookmyre » Wed Oct 28, 2009 9:06 am

Not saying I'm right, just that it's what I would have done on a retrace rather than a BO
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lukx
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Postby lukx » Wed Oct 28, 2009 11:09 am

I took long here (again traingle entry, red line SL, green TP.
Image

It's based on return to zl of 4H (from there I'm planning to take short)
Image

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lukx
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Postby lukx » Wed Oct 28, 2009 11:15 am

SL got hit:

Image

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Postby dieselboy101 » Wed Oct 28, 2009 11:40 am

Lukx when u say "triangle entry" ur talking about what MO way saying in the NLA thread correct?
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lukx
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Postby lukx » Wed Oct 28, 2009 11:52 am

no no , the small blue triangle on my chart is my entry. All the things MO is saying with the, channels and triangles is quantum physics for me, I don't think it's keeping it simple. First posts in NLA he said you need only 2 candle to know in which direction to trade and than he comes up with funky lines draw far back on charts...

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Postby es/pip » Wed Oct 28, 2009 1:04 pm

if you are going to try and play against the momo and trade for the held profit you have to get in on the first move

as it moves higher it becomes more and more risky


and as it was moving higher it was coming right into a m15 mz that you bought into

not saying that anything you did was wrong---- just that it wasnt an ideal situation.

but you did what you were supposed to do and got out with a small loss


Image

Image
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PTG
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Postby PTG » Wed Oct 28, 2009 1:07 pm

I don't have much time right now, so couple of quick remarks:

1. the H4 trend is down
2. the H4 trend has been going on for some time
3. I can't see what's on the left so I cannot judge in how far / when that trend is going to turn
4. this picture is no proof that the trend has turned; you need the current H4 closed to be able to judge that
5. therefore I suspect (without having seen the current picture) that you were premature going long.

Note that your trade is also NOT acording to the cunning H4 stop and reverse plan; there is no H4 reverse yet ! According to those rules you are premature as well.

It is absolutely essential to look at the bigger picture. You need to LTTL to see where you are in terms of distance between the previous zone (in this case a supply zone) and the next zone (in this case a demand zone). If you are too close to a zone you don't want to trade in that direction as I have said many times now. This is also applicable to the long that you took; you are taking a long after 4 green candles which is towards the end of that smaller run hitting resistance (= small supply zone in this case)

Again: this is so simple that you are probably overlooking it. It's an elephant in the room. Go find that animal !

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Postby PTG » Wed Oct 28, 2009 1:14 pm

Just read es/pip's post.

Basically the same story (to me at least). Don't join the party when it is likely to be over. No beer left, not good. Not good at all.
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es/pip
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Postby es/pip » Wed Oct 28, 2009 1:19 pm

PTG wrote:Just read es/pip's post.

Basically the same story (to me at least). Don't join the party when it is likely to be over. No beer left, not good. Not good at all.



yeah basically the same thing


i didn't go into the h1-h4 reasons

just from the charts he posted and what i saw


no beer no good------- get there first
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Postby Brookmyre » Wed Oct 28, 2009 1:22 pm

Hey Lukx, In that list of Sam Seiden videos there were two that I found exceptionally helpfull. Trade Whats Real and Not What you Feel explains his perspective on support and resistance and the other one was Multiple Entries in Forex. I think that was second last on the list. He shows the four different types of entries he's using depending on whether he's trading a BO or a retrace. I think it might help. The idea is very similar to zlines but he explains it a bit differently to what we've already read. I mention that second one in particular cause it's down the bottom of the list and you may not have gotten to it yet. It will help with your late entries on the retraces. Good luck.

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