prochargedmopar wrote:I do not think an indicator will be able to paint z-lines according to the likes of all that use them. It seems to me there is a lot of subjectivity to where they are actually placed.
It is very easy for me to see the body in the direction of profit.
And, the wick that is in the direction of loss. Easy when both candles have been closed.
Trying to get in on the illusory candle while it is being painted is another story entirely as it may just buzzard your butt.
Some people draw the z-line at the end of wicks, and others to the open/close of a body. I'm starting to think it matters not.
es/pip might have just given me a vital clue.
Move up to M15 or M30 time frame charts to find the beginnings of a body/wick setup and then get in on the wick with a m1 or m5 chart.
Whew, I think I've got other fish to fry first.
the zlines are not subjective---they are placed at levels where other traders are holding profits-------
every zline does not automatically hold every reaction to it
i don't think i have ever offered a full position at a zline
look at MO's daily chart he posted why did he place the line there---------bec that is where the long traders were holding profits from
1 body in direction of profit--------------
2 wick in direction of loss---------------
why are my zlines where they are?-------bec that is where the traders are holding profits from----so i get in on the process of there exits and then zero out to the next area of held profit
i wanted to hold this to the 4hr target----but i got out at 1 hr