PA, S/R, ZL, EXTREMES & MOMO

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karol
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Postby karol » Thu Feb 24, 2011 4:26 pm

And just a few minutes later got seduced into long position once again.. to be zeroed out by es/pip! :D


Image


The last one was an attempt to short, but I bailed out after it has stalled.

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karol
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Postby karol » Thu Feb 24, 2011 4:32 pm

StillFX wrote:@Karol What signal do u mean ?


MOMO up on 30 min chart. See the small, blue MZ on the first picture - that's where I took the trade.

karol
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Postby karol » Thu Feb 24, 2011 4:41 pm

In this one, targeting recent high.


Image



EDIT: out +15, going to sleep..

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es/pip
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Postby es/pip » Thu Feb 24, 2011 4:48 pm

crazy day

just one of those days

things moved so clean to and from the targets, unlike yesterday where it was up and down trying to figure it out

almost every trade went right to target,

when i say right to target i mean that the PA on the way to the target allows you to stay in bec it is forming momo and or s/r on the way to the target. so it gives you protection to sit through the pullbacks

took another 30 out of eu

on +10 and + 22
Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Thu Feb 24, 2011 4:59 pm

es/pip wrote:crazy day

just one of those days

things moved so clean to and from the targets, unlike yesterday where it was up and down trying to figure it out

almost every trade went right to target,

when i say right to target i mean that the PA on the way to the target allows you to stay in bec it is forming momo and or s/r on the way to the target. so it gives you protection to sit through the pullbacks

took another 30 out of eu

on +10 and + 22


image shack is slow to upload for me today

will post the other charts later

Image

Image
Bend over and assume the position for another 4 years of hope and change.

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FXfreak
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Postby FXfreak » Thu Feb 24, 2011 5:24 pm

I don't know how much potential it has but the entzry is beautiful ;-)

Image

Nerw0wy
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Postby Nerw0wy » Thu Feb 24, 2011 9:49 pm

Hello everybody !

At the beginning I would like to point out that I'm new user of zero line trading technique and I think it's a powerfull tool.However I'm wondering what went wrong with my trade that I took yesterday.Can anyone help me ?

Here are screens: H4 ZL and H1 confirmation.

Image

Image

Thanks in advance ;) I hope I'll stay with ya for a long time :D

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bredin
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Postby bredin » Thu Feb 24, 2011 10:00 pm

Humble wrote:You guys will be awaking to terrible news from New Zealand, Christchurch hit by a major earthquake during the middle of their day. (Anyone know where Bredin lives?)


I live in Hamilton, some 676km (420 miles) from Christchurch. All my friends living there have reported OK, apart from some property damage.

Thanks to everybody who has shown concern for my (and my families) welfare, it means a lot to us :)

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karol
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Postby karol » Fri Feb 25, 2011 12:41 am

Nerw0wy wrote:Hello everybody !

At the beginning I would like to point out that I'm new user of zero line trading technique and I think it's a powerfull tool.However I'm wondering what went wrong with my trade that I took yesterday.Can anyone help me ?

Here are screens: H4 ZL and H1 confirmation.

Image

Image

Thanks in advance ;) I hope I'll stay with ya for a long time :D





Hi there,
I'm not one of the "professors" here, but I'll show you how I see it. Maybe you'll find it helpful somehow.


If I were to enter this trade I'd be looking to go short in a blue area (resistance), similarly to what you've marked:



Image



Have you searched for a lower timeframe entry? Don't just go there with a limit order. You wouldn't stand in front of a running car hoping it will run out of gas before it hits you, would you?


Image


The first green box / arrow could be your first entry. 5m lets you keep your stop loss small, so you would be out around -8 or max -15 (but being extra cautious, you could exit when after initial drop it came out that price wasn't even able to go through this small support and jumped back like in a regular uptrend).

After this first loser (sometimes they just won't reverse that easily!), you had two beautiful opportunities to catch the train going down and grab around 60 pips.

Basically, you did nothing wrong looking to short there. It sometimes just doesn't work out as planned.



Hope this was helpful and someone could correct me if I'm missing something.

karol
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Postby karol » Fri Feb 25, 2011 2:30 am

Tried some quick scalp:




Image




Image

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