That can obviously lead to some big SL's
Quick question - and call me stupid if you feel the need - i'm kinda clueless about the whole idea of "getting out of trade if the candle closes against me".
Say for example I get into a long position on a 5 minute - limit entry -and the candle keeps falling and closes below my entry, but above my SL level - am I automatically killing the trade at the close of that 5 minute candle as it closed and I was in a draw down position?
I seem to get conflicting ideas from this threat. I'll post a z line trade that didnt work so you guys can have some better idea of what im talking about
razorboy wrote:Cleaned it up a bit
Shorted at the bull bar in zone 1 and shorted again in zone 2 after a few wicks into the Z zone - got out in the 141.50 area
Do those large bearish bars that preceed zones 1 and 2 look ok to you z line experts? The way I saw is that I had some good bearish momentum in front of each zone.
yeah pretty much------ just remember the zones are 0-50% of the 2x bar.