es/pip wrote:MightyOne wrote:razorboy wrote:So would you have entered that trade as price entered the zone on the way down or as it was exiting the zone on the way up?
For what its worth, my associate got nailed by this trade as wellMightyOne wrote:es/pip wrote:all in all finished the day with +4%
considering all the b/e trades and this trade i posted, which i took a full stop on
great roi on the week
MO do you have any comments on this one, got in near the close of the wick bar
5 min slammed literally 30 pips taking me out before i could even think about getting out at b/e
i see the congestion to the left but with the increase of momo into it i thought it was going to go
thanks
Why would you enter near the close?
There is a reason why I say the a ZL trade involves the candle hugging momentum only.
After that candle closed you would either trade long as price moved above the momentum candle or you would wait for a pull back for the S&R trade.
Not referring to the cycle line trading:
I usually trade for 1 candle and that candle is the bar hugging the momentum candle.
The only way that I trade for 2 candles is if my entry candle closed
bullish and I have an even higher TF single candle trade that has time
left until it closes.
This is my view based on what I call the "Dynamic Trend" with the arrows indicating my bias.
If this were a TF that I traded I would have went short over top es / pip and started entering back the other way after the bearish "momo."
how do you determine how to place your "dynamic trend" lines
Currently I have it worked out to the following:
A breakout of the high of the prev. bar (0 only) sets the line to the
prev. bars high extreme.
We will call the prev. candle "0" and the candle before that "00"
The smaller of the 2 ranges of 0 & 00 is added to the low, but only
if it has the potential to raise the breakout line higher.
The larger of the 2 ranges of 0 & 00 is added to the low, but only
if it has the potential to raise the breakout line higher.
In the case of an outside bar the breakout line remains on the breakout with the highest Dynamic Fib Iperiod BO.
Trend is UP when above the line and DOWN when below the line.