Thanks for contributing. I must say your chart is interesting. Not wrong, again if you can trade it that way. Imagine the draw downs would be significant though based on one line.
Try this, explain why and how you draw a zline. this being a bias chart for this exercise, not interested in entries right now.
trueblueTEX wrote:Well, I have been following this for some time now. I don't recall 'bias' being talked about so much here so I guess I have missed something.
I suppose that my meager contribution to doji's contest will demonstrate I have a lot o' learnin' left to do
Here, I offer up my finger painting to the Rembrants:
It always takes Momentum to break Momentum! "A small loss is just as satisfying as a large gain" -MO "Sometimes we need to stop learning and start thinking...." "Once you stack, you'll never go back!"
Again, just it was just an exercise to get some of you thinking about your lines and what they mean.
I can tell you this, I draw mine the same way all the time now. I say now due to my thread has progressed since day one. So there will be variances on how I drew them in the earlier part of this thread, more like News.
Can you define how you draw them, is it the same every time. If its not then I challenge you to come up with a way that it is. If your way of seeing s/d, zlines, is different without form. How can you trade it with consistency?
This was my chart...feel free to ask questions
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It always takes Momentum to break Momentum! "A small loss is just as satisfying as a large gain" -MO "Sometimes we need to stop learning and start thinking...." "Once you stack, you'll never go back!"
Sema's are just there for reference to make it easier to tell where we are when observing the chart.
It always takes Momentum to break Momentum! "A small loss is just as satisfying as a large gain" -MO "Sometimes we need to stop learning and start thinking...." "Once you stack, you'll never go back!"
Your right, the sema's have nothing to do with this exercise. See how easily they can take the focus off price action? Like I said, there is now right or wrong answer, but this is the bias time frame and bias would not change unless there was a "close over" on the next time frame up. You are correct in saying I would use the 5 min as the entry time frame.
Im at a bit of a loss...on your lines. I cant define why you draw your lines per a criteria that seems to fit all the time. They seem like to me you may have random or various ways of drawing them.
Now does this mean they are wrong?...no, not if you can trade them. I use two colors just to avoid confusion while trying to explain how I see what I see, and also if I were to turn off the candles, I could with good certainty still trade based on my colored lines.
newscalper wrote:I'll bite
I wasn't considering if'/when the bars broke as another poster has, I've drawn the lines as they would have been. I assume these are lines to trade on the M5 as it's usual to trade lines from a higher TF tha nthe one you're looking at otherwise you won't get the range/r:r/whatever. If the answer is to be the only ones of interest are where the semas are...consider the semas were not where they are now at point of drawing the line.
no, they are absolutely not random at all, the basis is some kind of momentum re what we talked about in pm and the line is drawn from where it breaks out of the high/low, which is what a z-line is?? A breakout? See profit etc
Yeah, see... I probably won't trade short as this thing already ate up the distance between my S D zones.
I should have shorted after I saw all that wicking of the previous 2 greens. LOL...
Last month I would have shorted immediately without waiting for bias, but trust me - wait for bias. Since waiting for a bias candle I honestly haven't lost a trade, and I am more confident in holding onto trades longer. Losing less, and taking more is the result of waiting for bias.
I have trouble trading the small time frames, so I stick to observing the 4H and 1D. On EURUSD daily, it looks like the next zone to be zlined is around 1.2650. My bias is short, looking on the 4 hour for entries.
