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djwookie
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The Z-Line Trade

Postby djwookie » Sat Jul 25, 2009 9:33 am

As a relative novice who has read most of this thread; please could somebody summarise (perhaps their version) of the conditions for entering and exiting a Z-Line trade. As I seem to be getting different and sometimes conflicting information.

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MightyOne
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Re: The Z-Line Trade

Postby MightyOne » Sat Jul 25, 2009 1:33 pm

djwookie wrote:As a relative novice who has read most of this thread; please could somebody summarise (perhaps their version) of the conditions for entering and exiting a Z-Line trade. As I seem to be getting different and sometimes conflicting information.


1. you see the "setup"

2. you place a limit order

3. you wait a comparable amount of time as the momentum which signaled a trading opportunity

4. you exit with a profit.

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Re: The Z-Line Trade

Postby dragon33 » Sat Jul 25, 2009 3:21 pm

djwookie wrote:As a relative novice who has read most of this thread; please could somebody summarise (perhaps their version) of the conditions for entering and exiting a Z-Line trade. As I seem to be getting different and sometimes conflicting information.


Start drawing the zerolines! Start on the higher timeframes. Every tmf has his own zerolines.
Start on D1 then H4 en H1. Those are the most important zeroes.
When zeroes match eachother then you have megaruns especially when D1 and H4 comes together!!!
It is all here SEVERAL times

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Postby PTG » Sat Jul 25, 2009 4:04 pm

Here's a recent example on GU H4:

Image

And here's the exact same picture on H1:

Image

The horizontal lines are all ZL-s.

Look on the higher timeframes for opportunities where traders sit on fat profits, and be so kind as to help them to get rid of it :shock:

What goes up, will go down.
What goes down, will go up.

Read all about it in this thread. If you don't get it, read it again. And again. 8)

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Postby cfabian » Sat Jul 25, 2009 7:23 pm

zapzinig wrote:My trades for today 54 pips.

I had a full stop today. Could have been avoided by checking H4. I made this same mistake 2 weeks ago. (entering on H1 before checking H4)

When I review the H1 chart from history, I base my trades off just the H1. I need to break this habit and in real-time remember to check higher time frames!

--zz

Image

Image


Zap,

According to my understanding of your trading, the attached image is what "needed to be done".

Some questions here:

1- When you mention "if price action is right", what exactly yo refer to? You hold your trade until it starts to go in your favor? Some momentum on lower TF? Or what you wait for or expect?
2- This contradicts previous question, but you always enter with limit orders right at the ZL spot? See a ZL and place your limit order accordinlgy some candles in advance?
3- If you do entry just with limit orders, was that the reason you didn't short at 1.6540 (10 pips below upper ZL, which would have be good for 150 pips)?
4- Last trade why you exit at +57, wouldn't the target be 1.6515?
5- When you disregard or "dispose off" a ZL? When wicked once, or when a closed body passes thru it and "cuts it?

Thanks

Image

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Postby cfabian » Sat Jul 25, 2009 7:32 pm

monolisa wrote:It seems everyone has their own interpretation of the MZ. I think it doesn't hurt to play the momentum (instead of the correction) part if you know what you are doing and not being zeroed out.

Good trade, nutz!

Lis


You're right... my understanding of how es/pip and MO use ZL is waiting fo MOMO and a wick to go towards a determined ZL, while Zap waits for price to touch that ZL (MO and es/pip target) to entry and trade the retrace towards another ZL.

If this is correct, why not trade both?????? (LOL, yeah, as if I'm Batman)

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Postby cfabian » Sat Jul 25, 2009 8:09 pm

Check this out...
While studying some charts, I saw the inconsistency between Zap's charts and mine. He uses FXDD and I use Interbank.

His last trade, on H4 it clearly shows a ZL which was his entry point, and would have been an exit point from previous trade. I could see that in my H1 chart, but not on H4.

Now, the point is, in with Intebank you may consider 1.6481 area an entry/exit point, but you can clearly see on FXDD that that zone was already used.

This is only to show the importance of flipping between timeframes. If trading H1, at least go see H4 and 30M to see what's around. At least that's my observation.

Have a great weekend!!!!!

FXDD screenshot
Image

Interbank screenshot
Image
WILL GET MY MONEY BACK FROM THOSE BASTARDS, AND I MEAN IT !!!!!
"WAIT FOR PRICE, WAIT FOR PRICE, WAIT FOR PRICE"

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Postby PTG » Sat Jul 25, 2009 8:30 pm

Yes you're right. My MB Trading chart looks much like the Interbank chart. When looking at Zap's chart I was a bit puzzled too because of the huge difference. Thanks for clearing that up. And a great weekend to you too !
This is my new signature: "new signature".

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Postby TheRumpledOne » Sat Jul 25, 2009 11:29 pm

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby zapzinig » Sat Jul 25, 2009 11:38 pm

cfabian wrote:Check this out...
While studying some charts, I saw the inconsistency between Zap's charts and mine. He uses FXDD and I use Interbank.

His last trade, on H4 it clearly shows a ZL which was his entry point, and would have been an exit point from previous trade. I could see that in my H1 chart, but not on H4.

Now, the point is, in with Intebank you may consider 1.6481 area an entry/exit point, but you can clearly see on FXDD that that zone was already used.

This is only to show the importance of flipping between timeframes. If trading H1, at least go see H4 and 30M to see what's around. At least that's my observation.

Have a great weekend!!!!!

FXDD screenshot
Image

Interbank screenshot
Image


In doing my review of this thread, I noticed differences in brokers charts as well. It happens because of the broker offset time from GMT. FXDD uses GMT so there are no micro Sunday D1 bars (they throw off range statistics) The H4 bars are different because they are graphing a different group of 4 hours.

D1 and H4 bars look different amongst the dfferent brokers, H1 seems to be the most consistent across brokers.

--zz

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