Mr. D's Humble Quest in the Wick Land

[LeMercenaire]

As it turns out price has broken back over - not closed yet but certainly back over.

So jumping on board the return trip North would have certainly paid off.

Now, if price does indeed close strongly over those Z-Lines, for me, that now gives me a Z-line going the other way.

Anyway, I am not going to go in. It's Friday. It's late on Friday...and it's Friday, lol. I am done and already into my weekend.

[LeMercenaire]

Well, there you go.

Price closed over and after a push, retraced back and look at that to-the-pip rebound off the Fib - just above the Z-Line - and back up now.

Pips-galore on this today, whichever way you played it.

Lovely.

Z-LineExample+FibOver+NowRetestUp26thOct18crop.png (83.31 KiB) Viewed 2969 times

[Mr. D]

Hi, buddy!

Is this the type you are talking about? If so, how long do you keep it on your graph? Or, do you constantly scan a graph for possible z-lines?

Best,

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.

[LeMercenaire]

Hi, buddy!

Is this the type you are talking about? If so, how long do you keep it on your graph? Or, do you constantly scan a graph for possible z-lines?

Best,

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.

I'd consider that one a little old. Certainly for the first push through short, yes, it's spot on.

After that, it gets a bit muddy. I'd still know it was there but I'd treat it with more and more caution.

[LeMercenaire]

As for scanning, well yes but only in as much as I am always chart surfing in quiet periods.

If I see a single LRG appear, then that goes on the watchlist automatically, not just for Z-Line potential but for any if the other methods that I run off of price making new extremes, as often these kind of candles will print new Highs or Lows.

[Mr. D]

As for scanning, well yes but only in as much as I am always chart surfing in quiet periods.

If I see a single LRG appear, then that goes on the watchlist automatically, not just for Z-Line potential but for any if the other methods that I run off of price making new extremes, as often these kind of candles will print new Highs or Lows.

Thanks, bro! Looking at higher timeframes brings even more enlightenment.

LRG - large, aka Momentum (Momo)?

Have a great weekend!

[LeMercenaire]

As for scanning, well yes but only in as much as I am always chart surfing in quiet periods.

If I see a single LRG appear, then that goes on the watchlist automatically, not just for Z-Line potential but for any if the other methods that I run off of price making new extremes, as often these kind of candles will print new Highs or Lows.

Thanks, bro! Looking at higher timeframes brings even more enlightenment.

LRG - large, aka Momentum (Momo)?

Have a great weekend!

LRG...large? Nope, fat fingers. Should be LRC as in Large Range Candle.

[Mr. D]

LRG...large? Nope, fat fingers. Should be LRC as in Large Range Candle.

Is this a name for those long candles that cross prev. Low, or High, which creates a z-line?

[Mr. D]

Just finished reading the threads about the Buy Zone. Blown away. TRO is now my personal hero for sharing this very simple yet brilliant way to make pips. If you are looking for one of the most reliable ways to make money trading, take a close look at the Buy Zone. There are still loses, how could it be without them. But the impressive majority of trades are profitable. Proof in the threads.

Shout out to Lem for pointing this idea out! Adding it to my trader's toolbox.

[Mr. D]

Another great zone is the C(r)ash Zone. Read all about it here,

beginners-forum/the-weekly-crash-zone-t2406