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cfabian
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Postby cfabian » Wed Aug 05, 2009 3:05 am

In order to trade short to ZL long traders, you need to make sure price is moving down by confirming with a bearish momo. Then you trade short to ZL long positions profits, and then you trade back long to ZL short traders (those that traded with you in your previous trade).

Right now I haven't seen any bearish momo that makes me feel comfortable trading short.


Humble wrote:es/pip, thank you for your explanations and patients.

cfabian, whilst some here such as es/pip have the ability to trade the PA every which way, as I understand MO's zl concept, the idea is to look at the above chart see all the held profit from the up move and trade it back down. I'm not sure whether MO may even wait for the reversal and then trade it back up.

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monolisa
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Postby monolisa » Wed Aug 05, 2009 3:08 am

MZLongBias = Current MZ Long Bias
ExpMZLongBias = Expired MZ Long Bias (Price has moved passed the whole MZ zone)

As per MO advice, try higher tf like H4,D1.

Lis

i_love_delta wrote:Monolisa,Thank you for your hard work and the indicator! and Thank you for dragon33 to explain the chart. Can I ask a question for Monolisa, what's different between MZlongbia and EXPMZlongbia? they both represented longbia, but what means difference? And what timeframe is best for your MZ_rev5 indicator? Thank you and look forward your reply.
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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es/pip
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Postby es/pip » Wed Aug 05, 2009 3:18 am

Humble wrote:es/pip, thank you for your explanations and patients.

cfabian, whilst some here such as es/pip have the ability to trade the PA every which way, as I understand MO's zl concept, the idea is to look at the above chart see all the held profit from the up move and trade it back down. I'm not sure whether MO may even wait for the reversal and then trade it back up.


once you see that all that held profit is available you need to have a reason--like cfabian was saying-- to trade back down to it

that reason will be some down momo preferably on the 4hr or higher-- i thought we were going to get it on that h4 chart i posted earlier-- but the forex gods didn't agree

on the pound right now we have broken out, and the next real area of held profit is at the yellow line--which would create resistance. also coming into a weekly zl as well

ideally i would like to short back down to the lower zline and get that held profit and then trade it long up into the higher zl and take that profit. have to wait and see what will happen

when i am playing the market each way- long and short-- it is based off of coming into zl on the higher time frames

have to know where u are in the scheme of things on the higher time frames and look inside to trade it. when i take something long on the 15 min and then reverse and go short of the 15 min it is not due to the 15 min as the base reason. well, sometimes i will get in trades based off the 15 min but u run a lot more risk of getting stopped if you have no background reason

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fx_disciple
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Postby fx_disciple » Wed Aug 05, 2009 4:13 am

@monolisa

I've been watching how the indi worked, I saw the line showed 2 hours ago (for short) right after the current bar start. Is this correct/normal or did I miss something (from the settings or anything else maybe)? I mean the line lag by 2 bars, maybe it would be better if it only lag 1 bar.

Thanks for the replies monolisa, zapzinig, dragon33. I really appreciate any lesson from you guys.
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monolisa
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Postby monolisa » Wed Aug 05, 2009 4:48 am

fx_disciple,

The line won't be drawn until the momo bar closes. As we need 2 bars to confirm a combo of pre-momo and momo formation, unfortunately, there is a 2 bar lag.

I just tweaked the MZ indi to show multiple timeframe. Here's a H1 chart to show all H1,H4,D1,W1 MZ. A bit of a mess, isn't it? :)

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Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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Postby fx_disciple » Wed Aug 05, 2009 6:48 am

@monolisa

thanks for the explanation, that really helps. on a second thought, actually the indi only lag 1 bar because the line will draw right at the open (missing only 1 bar of the potential trade). Meh, I can dwell with it as long as it doesn't miss the entire run :)


I'm going live with this great setup, prolly tomorrow. can't really know the effectiveness of any setup unless using it with real money real-time, micro would be good for me now though.

Humble
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Postby Humble » Wed Aug 05, 2009 7:54 am

Lis, what about a MTF ZL indi that shows the zl instead of the mz? ie if we had the option to show say a 4hr zl on the 1hr chart. The line would be a different colour or thickness or whatever and labelled 4 hour 22 days ago.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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Postby i_love_delta » Wed Aug 05, 2009 8:17 am

thank you for the answer, Monolisa

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prochargedmopar
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Postby prochargedmopar » Wed Aug 05, 2009 8:43 am

Wick trade:

Z-line on M5 and M15...here was just a wick to body entrance......
purple line to red line.
+21.4

EUR/JPY 1 B 136.749 136.963 21.4 2.25 0.00 8/5/2009 03:28 8/5/2009 04:36

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#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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monolisa
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Postby monolisa » Wed Aug 05, 2009 9:28 am

Pro,

Where are the M5 and M15 zlines? What's the goal of your trade (H1 MZ??)?

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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