Mr. D's Humble Quest in the Wick Land

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

Postby Mr. Hyde » Wed Mar 13, 2019 11:41 pm

Mr. Hyde wrote:
Mr. D wrote:
Mr. Hyde wrote:
Reviewing MO's post and then observing how the vets on here applied his idea's is the single best thing a trader can do in my opinion. 99% of my trading is zlines and super basic price actions setups. Find a idea that you can trade day in and out and then master it with as much live chart time you can put in. Observe, make notes and make money. Good luck. Feel free to ask me anything.


Good to know because that's exactly what I am trying to do and post in this thread. If you can share feedback, that would be great!

When you write about "super basic price actions setups" which ones do you have in mind?


This chart on the ES today is literally 99.9%. !st trade is a zline. 2nd trade is a pole trade (my favorite trade after zlines). You measure the move into the congestion which looks like a flag or rectangle. Then that give you your target. 3rd trade is just breaking S/R and retesting it. Depending on if price makes my final TP I should make 30-40 points today or about 20% give or take. there was also a flag on UC that Im into. Plus a few other trades. Should be a good day.

US500IndexM15.pngmar13.png

I'll post some other charts to that show the rest of my favorite trade setups. They literally have all happened within the last week or so.


You can see the pole on the UC worked out nicely. I also included the 4hr chart so you could see my longer term reason to be in it. Its a topic that Dragon mentions. A high/low failure. Pretty much you have a candle make a high with a wick and then the following candles can't close beyond that high. So then I look for a candlestick pattern to get in and look for a zline to target. Also I will throw fibs on and see if there is any confluence with S/R that may cause price to bounce. Super basic and super easy.

USDCADH4.pngmar13highfailure.png
USDCADH4.pngmar13highfailure.png (41.42 KiB) Viewed 161 times

USDCADH1.pngmar13pole.png
USDCADH1.pngmar13pole.png (40.6 KiB) Viewed 161 times


These past post are literally 90% of my trading. The one trade setup I haven't thrown up yet is a 123/TTE (traders tick entry). There are 2 perfect examples, one on the 4hr chart of AU and one on the 4hr of AJ. Im in both of them.

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

Postby Mr. D » Thu Mar 14, 2019 1:32 am

Nice job on /ES!

As everyone seems to have their own definition of Z-line, which in the end contributes to a greater picture, what clues to you usually look for when drawing a Z-line? A higher high before a momo seems to be of importance.

Congestion move looks very interesting. Does it start with two opposite candles that "cancel" each other, whose extremes form a congestion box? To draw a distance, do you use a higher high to draw a line from which a distance is measured?

Mr. Hyde wrote:
Mr. D wrote:
Mr. Hyde wrote:
Reviewing MO's post and then observing how the vets on here applied his idea's is the single best thing a trader can do in my opinion. 99% of my trading is zlines and super basic price actions setups. Find a idea that you can trade day in and out and then master it with as much live chart time you can put in. Observe, make notes and make money. Good luck. Feel free to ask me anything.


Good to know because that's exactly what I am trying to do and post in this thread. If you can share feedback, that would be great!

When you write about "super basic price actions setups" which ones do you have in mind?


This chart on the ES today is literally 99.9%. !st trade is a zline. 2nd trade is a pole trade (my favorite trade after zlines). You measure the move into the congestion which looks like a flag or rectangle. Then that give you your target. 3rd trade is just breaking S/R and retesting it. Depending on if price makes my final TP I should make 30-40 points today or about 20% give or take. there was also a flag on UC that Im into. Plus a few other trades. Should be a good day.

US500IndexM15.pngmar13.png

I'll post some other charts to that show the rest of my favorite trade setups. They literally have all happened within the last week or so.

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

Postby Mr. D » Thu Mar 14, 2019 1:37 am

Created a Word doc and saved this information about the Double Hook to print out and review. More graphs with Double Hooks are welcome.

That's great advice! I just finished reading MO's posts and aliassmith is next in line. Where would you have me start it? MO was somewhat peculiar about reading his ancient posts. ;-)

@aliassmith Is there a place where a beginner should start in your opinion?

Mr. Hyde wrote:Here is a setup that V8 named the double hook/zline trade, after MO's teachings. You look for price to make a nice double hook with momo both times. Then you look for it to make a zline going the other way and then trade it all the way back down to where the move started from. I think the first time V8 noticed this was on GU in Oct 2015. I think I have the pic saved some where and will post it if I find it so you can see it.

EURAUDH1.pngmar7.png

Also Mr. D, just to get my point across about learning from the vets. Since Alaismith is posting in here I'll use him as an example. I literally have dozens and dozens saved pages from his threads just on my phone alone. And I'll read them whenever I get bored. Its always a good refresher and sometimes, something that didn't make sense makes sense the 100th time you read it.

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

Postby Mr. D » Thu Mar 14, 2019 1:50 am

Mr. Hyde wrote:Another fav is retest of a double bottom or top. If it holds they normally start a nice new trend and you can ride it for a good amount of pips.


If I can add, it usually provides two retest opportunities.
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Mr. D
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Re: Mr. D's Humble Quest in the Wick Land

Postby Mr. D » Thu Mar 14, 2019 2:10 am

Mr. Hyde wrote:Last one so I don't clutter your thread up. But this shows how to combine when price is at an important extreme high or low, plus using the MACD. Also shows confluence with daily zline and fibs. I love catching the top or bottom of a move.


No worries about cluttering the thread. I am glad it is alive and hope many will learn alongside.

About the fibs, which levels do you find important?

Because I trade mainly 'naked', what is this AO indicator? Related to MACD? What are basic rules besides convergence/divergence?

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

Postby Mr. Hyde » Thu Mar 14, 2019 6:59 am

Mr. D wrote:
Mr. Hyde wrote:Another fav is retest of a double bottom or top. If it holds they normally start a nice new trend and you can ride it for a good amount of pips.


If I can add, it usually provides two retest opportunities.


Perfect. That's how you make something yours.

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

Postby Mr. Hyde » Thu Mar 14, 2019 7:07 am

Mr. D wrote:
Mr. Hyde wrote:Last one so I don't clutter your thread up. But this shows how to combine when price is at an important extreme high or low, plus using the MACD. Also shows confluence with daily zline and fibs. I love catching the top or bottom of a move.


No worries about cluttering the thread. I am glad it is alive and hope many will learn alongside.

About the fibs, which levels do you find important?

Because I trade mainly 'naked', what is this AO indicator? Related to MACD? What are basic rules besides convergence/divergence?


I just use the fibs in confluence with S/R. Some people will use them as targets or even a place to add on to their trade when it breaks a level. To me the AO and MACD are the same. Maybe someone else can explain how there different. I just use them for divergence that's all.

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

Postby Mr. D » Thu Mar 14, 2019 7:48 am

Wondering if this is why MO used 2 & 40 MAs. I think he claimed that their cross give quicker signals.

Mr. Hyde wrote:
Mr. D wrote:
Mr. Hyde wrote:Last one so I don't clutter your thread up. But this shows how to combine when price is at an important extreme high or low, plus using the MACD. Also shows confluence with daily zline and fibs. I love catching the top or bottom of a move.


No worries about cluttering the thread. I am glad it is alive and hope many will learn alongside.

About the fibs, which levels do you find important?

Because I trade mainly 'naked', what is this AO indicator? Related to MACD? What are basic rules besides convergence/divergence?


I just use the fibs in confluence with S/R. Some people will use them as targets or even a place to add on to their trade when it breaks a level. To me the AO and MACD are the same. Maybe someone else can explain how there different. I just use them for divergence that's all.

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

Postby aliassmith » Thu Mar 14, 2019 9:54 am

Mr. D wrote:Created a Word doc and saved this information about the Double Hook to print out and review. More graphs with Double Hooks are welcome.

That's great advice! I just finished reading MO's posts and aliassmith is next in line. Where would you have me start it? MO was somewhat peculiar about reading his ancient posts. ;-)

@aliassmith Is there a place where a beginner should start in your opinion?

Mr. Hyde wrote:Here is a setup that V8 named the double hook/zline trade, after MO's teachings. You look for price to make a nice double hook with momo both times. Then you look for it to make a zline going the other way and then trade it all the way back down to where the move started from. I think the first time V8 noticed this was on GU in Oct 2015. I think I have the pic saved some where and will post it if I find it so you can see it.

EURAUDH1.pngmar7.png

Also Mr. D, just to get my point across about learning from the vets. Since Alaismith is posting in here I'll use him as an example. I literally have dozens and dozens saved pages from his threads just on my phone alone. And I'll read them whenever I get bored. Its always a good refresher and sometimes, something that didn't make sense makes sense the 100th time you read it.


There is a lot of good stuff on the site. I have read the NLA thread from page 133ish and on a few times.

Edit: it's page 139
Last edited by aliassmith on Fri Mar 15, 2019 1:00 pm, edited 1 time in total.
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aliassmith
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Re: Mr. D's Humble Quest in the Wick Land

Postby aliassmith » Thu Mar 14, 2019 7:05 pm

When people come across Zlines most of the time they are asking what is it.
Well the picture attached shows the basic Zline.
By definition a Zline is made of 2 candles.
Candle one's body is half the size of candle two's body.
Candle two breaks out of candle one.

Now there you have it. :mrgreen:

Using the basic Zline you can go look for them and study when and where they occur.
How about at other Zlines of a higher timeframe?
How about at other supply and demand areas?
How about trend lines?
How about Fib lines?
Attachments
Basic Zline.png
Basic Zline.png (509 Bytes) Viewed 59 times
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