Never Lose Again

[ajaymein]

Just placed a ZL trade on the GBP/USD based on the 1hr chart...the GREEN line is where I entered, the two YELLOW Lines are where I placed the ZLs, and and TOP RED line is where my TP is and the bottom RED line is my SL. I have a 75pip Trailing Stop in place in case price does not retrace this high...This is the first chart i posted too so hope it works out good!



PLEASE let me know what you think of this trade and any suggestions!

Thanks

[es/pip]

es/pip, MO
I clearly see that, so now I'd like further clarification on the following:

1. 1 -2 pattern (body in direction of profit, wick in dir of loss) needs to be one next to the other, or can be a gap of more candles?

2. When you see this 1-2 pattern, you enter on the wick of 2 (on the z line or better), or wait to the next candle, after candle 2 cloeses to ensure candle 2 really wicks the ZL?

Thanks for putting the spices on this topic.

es/pip

Sorry but I don't see why this was an incorrect setup?
Can you please detail explain your thought on this? and how MO clarified your thoughts as well?

To me bar 1 clearly breaks previous bar, where you set the lower yellow line, and the candle with the "x" comes back down, touch the line to zero previous breakout, a doji and then ramp up. Just don't get what you guys are thinking and/or seeing..... and I belive that's the reason I haven't been as successful as you do. I'm very much hooked into this ZL concept, but need little bit more thoughts.

Thanks a lot for your help

MO,


what are your thoughts when you see this happen

i am not in this trade

i went down to the 1 and 5 and couldn't find a 1 2

do you average into it on the way up

or

just pass on it

thanks

in that chart u get a body in direction of profit followed by a body in direction of loss and then a wick in direction of loss---------------for me i am not as gung ho to take that one

so I go down in timframes and try and get a 1-2 on them-----MO just gave another way to trade it


when MO was asked earlier in this thread about how he enters and exits--- he responded it is different all the time bec the market is different at different times-------------------------that would explain this setup

MO, i am sure will have a better answer for you.

My answer is there is no answer to your q's

1. sometimes, sometimes not------depends on the PA---also multi-time frame analysis

2. sometimes i do 1 or the other and sometimes i dont-

its hard to explain------- it just kind of depends on the PA---and where we are in the scheme of things

i thought hard how to answer you q but that's all i came up with

[TheRumpledOne]

VEGAS TUNNEL



I think the Vegas Tunnel ( H1 version ) is one of the best free systems available. Someone mentioned it the other day. So I decided to write a multimeter for it.

Free MT4 version of TRO_TUNNEL and TRO_MulitMeter_VegasTunnel, including SOURCE CODE, attached.

The multipairs version is donational.

PLEASE DO NOT POST MY INDICATORS!!

[es/pip]

Just placed a ZL trade on the GBP/USD based on the 1hr chart...the GREEN line is where I entered, the two YELLOW Lines are where I placed the ZLs, and and TOP RED line is where my TP is and the bottom RED line is my SL. I have a 75pip Trailing Stop in place in case price does not retrace this high...This is the first chart i posted too so hope it works out good!



PLEASE let me know what you think of this trade and any suggestions!

Thanks

can you change your chart to show me where you are basing your zlines from expand the chart and draw the zline from the bar you are basing it off of

[ajaymein]

Just placed a ZL trade on the GBP/USD based on the 1hr chart...the GREEN line is where I entered, the two YELLOW Lines are where I placed the ZLs, and and TOP RED line is where my TP is and the bottom RED line is my SL. I have a 75pip Trailing Stop in place in case price does not retrace this high...This is the first chart i posted too so hope it works out good!



PLEASE let me know what you think of this trade and any suggestions!

Thanks

can you change your chart to show me where you are basing your zlines from expand the chart and draw the zline from the bar you are basing it off of

Oops, actually the bottom yellow line is where I saw "support" at because price hadn't been able to break below that line. The Upper ZL is drawn based on a couple bars after the 3 SEMAFOR near the middle of the chart. Then, price had broken beneath it and wicked it twice before continuing down.

Should I have waited for a ZL to be created on the lower side instead of using the Support line for confirmation? What would you do in this scenario?

Thanks!

[ajaymein]

How does everyone DRAW on their charts using MT4? The only things I can do is draw vertical lines, horizontal lines, circles, rectangles, triangles, text..etc...I can't draw SHORT horizontal lines line like I see in some charts or actually DRAW on it like I am drawing in paint...do you just open the chart in Microsoft Paint and draw on it there before posting or is there an easier way to do it directly onto your MT4 platform?

[ajaymein]

VEGAS TUNNEL



I think the Vegas Tunnel ( H1 version ) is one of the best free systems available. Someone mentioned it the other day. So I decided to write a multimeter for it.

Free MT4 version of TRO_TUNNEL and TRO_MulitMeter_VegasTunnel, including SOURCE CODE, attached.

PLEASE DO NOT POST MY INDICATORS!!

Why do you think it is a good system? Do you know how it works?

[es/pip]

in mt4 use the trend line and uncheck ray under parameters



i would draw my target from here based on the hr chart but there is obv. other targets that can be drawn of smaller tf charts-----may also find some resistance at yellow line


as far as entering where you did i would want to see a 1-2 setup or something on the smaller timeframe that made sense

[es/pip]

in this right now

[ajaymein]

Hmm...I see what you are saying. LOL...I kinda just threw my order out there because I saw price consolidating and stopping at the Support line...guess a 1-2 setup would confirm that Long pretty well. Will keep my eye out!