lukx wrote:oh my now I'm totally lost short entry after momo long ?!
perfect exits based on what ?!
So you guys when starting to look for trade you got form 1D till 5M ?
The short entry was after hitting a H4 zerozone. It was the NFP news outcome.
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lukx wrote:oh my now I'm totally lost short entry after momo long ?!
perfect exits based on what ?!
So you guys when starting to look for trade you got form 1D till 5M ?
pablo101 wrote:I didn?t take this trade and I?m not exactly giving out the crown jewels but here is my take on what Zline and MZ is about.
1. Today the 4th September, I start with daily chart on the EJ
2. 4th could have long possibilities long due to these facts:
a. Daily showing bears are in control for the last eight days
b. Almost a key reversal day
c. Almost an inside bar on the 3rd and the market breaks the top pin on the 4th
3. Dial down to the H4
4. Momentum on the 400 bar yesterday, zline and mzone marked up
5. Notice fib 38.2 line and zline confluence, so note this may be a strong area, a place to zline profits before any possible move up
6. Switch to h1
7. Possible reversal on the confluence, see h1 chart
8. On h1, I see live candle turn bull colour, switch to lower tf for entries
9. On five minute first entry, put buy limit order @ 132.60
10. For SL use minimum move trader?s trick. 5M 288 range * 2.5. Let?s say the range is 15.5 * 2.5 = 38.7 pips. This 38.7 pips give a 90% chance you won?t get wicked out or you can get out at BE or minimum loss.
11. How many lots to trade? Say you have a $400 account. You want to risk 4% which is 16 bucks a trade. 16 divided by your SL 38.7 is $0.41 per pip or 4 micro lots.
12. Or SL you can use maybe below MZ @ 132.41 giving a 19 pip stop
13. Aggressive bank drain method: Keep a fixed SL of 20 and make 80 pips without a loss, then double unit size, keep risk at 20 pips until you lose 1. Once you lose 1 trade, then start all over again.
14. Possible targets (still unclear ) 3:1/4:1 RR or h4 zline @ 132.79 or h1 zline @ 132.83 or pray for more, not sure if it helps but makes me feel better
15. Repeat and repeat until you can afford to buy something small
I think this is right as I?m still in the black at the end of the week so I must be doing something right. Whether I?m helping or hindering others to learn, I leave it up my fellow peers to critique me. Feel free to flame as I need a beating now and again
EDIT: I decided to give up attaching charts and attached a pdf with all mentioned charts. Have I said how I hate kreslik website