Should be an interesting session.
Looking at the tape on the futures and finding some massive dollar buying & euro selling and pound selling.
Seems like the employment numbers will be beat or as expected.
The Held Profit Theory REVISITED - (AKA Zeroline, MO, BDP)
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- aliassmith
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Hoodlum wrote:Along with supply & demand, zero lines have been the single greatest concept I've learned that has helped my trading.
However, as mentioned, you can't just trade them blindly. In a strongly trending market, a succession of 4h z-lines can be taken out in a short space of time, with only a perfunctory opposite reaction at each one, before the move continues. For me at least, it is why it is so important to take an overview of currencies as a whole, instead of just trying to trade a pair in isolation.
However, I've got to say - in the case of a 4 year, or 25 year old z-line, I've can't help but think there is another mechanism at play. I find it extremely difficult to believe even the most hardcore position trader would hold on to any profits for 4 years, let alone 25.
Rather, are these not "flip zones" - price levels at which the financial institutions like to place large orders, as buys or sells depending on which side of it the price is on?
I would have to agree, its hard to believe people are holding positions that long
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- Captain Pugwash
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adaseb
Can I ask a question?
If I understand you. First you wait to zero the Daily/Weekly THEN you are looking for a momo H4/D1 in the Direction of Profit somewhere off that daily/weekly zone -
You then look to target this new zline as an entry? Maybe a few adds. like Mo talks about off the extreme.
Ride the wave to the next D/W zline in the DOP to take their profit
grazie
Can I ask a question?
If I understand you. First you wait to zero the Daily/Weekly THEN you are looking for a momo H4/D1 in the Direction of Profit somewhere off that daily/weekly zone -
You then look to target this new zline as an entry? Maybe a few adds. like Mo talks about off the extreme.
Ride the wave to the next D/W zline in the DOP to take their profit
grazie
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
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Captain Pugwash wrote:adaseb
Can I ask a question?
If I understand you. First you wait to zero the Daily/Weekly THEN you are looking for a momo H4/D1 in the Direction of Profit somewhere off that daily/weekly zone -
You then look to target this new zline as an entry? Maybe a few adds. like Mo talks about off the extreme.
Ride the wave to the next D/W zline in the DOP to take their profit
grazie
No, the above was posted just as an example. I don't trade that way. Because I usually only day-trade.
- Jalarupa
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adaseb wrote:The 24 year one or the 4 year one I think are both a coinincidence
Its best to trade these off daily or weekly charts.
I hate to belabor this point but time is a fractal...
Ergo, the size or distance of time doesn't have any effect on the result, price behaves the same on all time frames because we are predisposed to behave in the same way over and over again.
So in its purest sense yes it is doubtful that traders would hold profit for that long, (although sovereigns may hold it for that long in foreign reserves). This does not however change the support becoming resistance mechanism which forms part of the psychology behind the zero line, albeit the flipside... traders in loss exiting at breakeven... (failure)
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