trojoh68 wrote:Pawel, Alias, PTG, LeM and others,
I appreciate your recent discussion of z-lines --- as well as your respective threads and various posts throughout Kreslik. Mira and I know each other as we both came into Kreslik around the same time. Both of us have learned MUCH from Dojirock and trade primarily by his variation of z-lines (Doji Zones). We're both break even to slightly profitable in our trading.
I have question that I'd really love to hear each of you answer from your own perspective, if you don't mind. I think that your responses would be instructive to both of us --- as well as others.
HOW DO EACH OF YOU CHOOSE WHICH Z-LINES TO TRADE?
I understand how z-lines can be drawn on on wicks, bodies, or color changes (price turns). But no matter how one chooses to draw them, they are all over a chart --- even counter to each other at times. Thus, some are better choices than others. So, I'm just interested to hear each of your reasoning in the ones that you trade. Thanks in advance to any of you that answers. And again, I really appreciate your discussions among each other.
I agree with Alias. Ultimately you have to suck it and see.
For the knowledge bank however, my way of doing things is as simplified as I could make it. I look for momo that breaks a significant level and the place where that momo crosses is my Z-Line. I can either look to then get in on the way back up, or more often, trade the reaction back off the Z-Line itself.