Mr. D's Humble Quest in the Wick Land

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Mr. D
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Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Thu Oct 25, 2018 3:46 pm

Hi,

As I learn, I hope to share my findings about the Wick zone and other related stuff. You will find references to the relevant material, discussion, and application. I trade mainly SP500 mini futures, /ES, and some forex pairs. This is a journey, and I invite friends to join.

The main rule is, BE NICE. Ideas, suggestions, references are welcome, rude behavior is not.

Grateful to Lem for inspiring me to start this thread.

Come and learn with me.

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LeMercenaire
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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Thu Oct 25, 2018 10:50 pm

goforit.png
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Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Fri Oct 26, 2018 2:28 am

Let's begin. Where does one start?

Find TRO's thread "TRO TRADING VIDEOS". Post number 114665. Watch the video in the post and other videos on the page.
Last edited by Mr. D on Fri Oct 26, 2018 2:32 am, edited 1 time in total.

Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Fri Oct 26, 2018 2:31 am


Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Fri Oct 26, 2018 6:31 am

Good day,

In another thread, forexjpn has kindly provided his definition of Z-lines,

"I usually put the line on the last candle of the previous move..... sometimes at the body, sometimes at the wick."

And,

"Zlines are used differently by different traders here on the forum. Zlines are formed when price moves and creates held profit and if price returns to the origin of that move, we can say that the held profit has been zeroed out.
I use the Zline as a target, so I trade the retrace back to the origin to take the held profit, as stated above.
Others use the Zline as an entry level, expecting price to bounce back in the original direction after the held profit is taken away from the weak hands..... So I guess for them a failed Zline would be when price does not bounce back, but continues through the Zline....
Like I said , I prefer to trade into the Zline rather than off of it, (but come to think of it I probably am actually trading off HTF Zlines anyway). Hope that makes sense."

About the graph,
"Long arrow shows original move..... small arrow shows Momo and red line is Zline, but as others have said where the Zline goes is a little subjective."
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Fri Oct 26, 2018 6:32 am

@ forexjpn, is this an example of what you are talking about? Thanks for taking a look.
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Re: Mr. D's Humble Quest in the Wick Land

Postby forexjpn » Fri Oct 26, 2018 7:29 am

Hi Mr.D,
JTLYK, I’m no pro....but I would put the Zline at the green candle....
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Re: Mr. D's Humble Quest in the Wick Land

Postby forexjpn » Fri Oct 26, 2018 7:35 am

I find price often bounces off the base of the Momo though, particularly ‘clean’ ones like that (big red one)

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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Fri Oct 26, 2018 4:25 pm

forexjpn wrote:Hi Mr.D,
JTLYK, I’m no pro....but I would put the Zline at the green candle....

Hi guys. FWIW, I agree with that, however I wouldn't class it as a strong example. In fact, I would say that (for me) there is no good example of a Z-Line in there anywhere.

The way I understand and play Z-Lines is shown below. It's only the m30 tf but that doesn't matter, just imagine they are H4 or whatever, it's the pattern we are interested in.

Z-Line s #1 and #2.

Z-LineExample26thOct18crop.png
Z-LineExample26thOct18crop.png (68.26 KiB) Viewed 418 times


Now look what happens when you add a Fib over the top. Check the 50 and its little, often overlooked, sister. Use both to form a Killing Zone.

Z-LineExample+FibOver26thOct18crop.png
Z-LineExample+FibOver26thOct18crop.png (74.73 KiB) Viewed 418 times


Pity it's so late in the day, or I would have been interested in this :D .

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Re: Mr. D's Humble Quest in the Wick Land

Postby LeMercenaire » Fri Oct 26, 2018 4:33 pm

The definition I use is the one given to me when I was struggling to get my head around the concept:

A Z-Line is formed when momentum crosses a line of a previous significant level.

This may or may not be the way others see, form and use Z-Lines but I do know it works for me.

The way it ties into Fibs and S+D is just too powerful for me to ignore.

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