A fresh start! Doji's Trading Journal

trueblueTEX · Post by **trueblueTEX** » Sat Apr 06, 2013 2:07 am

dojirock wrote:Here is the zline pic from the usd/cad trades. You asked about the level I used to determine that line.

The bottom line is the long zline, correct?

You didn't draw it on the m5 tf, correct? I think you drew it on h1 or m30.

What I was wanting to see was what caused you to draw it where you did.

Your discussion with onontsira about the number of candles needed before you can draw the zline makes me realize I don't really know the "rules" for drawing one.

Do you have a definition for drawing zlines?

PebbleTrader · Post by **PebbleTrader** » Sat Apr 06, 2013 2:07 am

Isn't it interesting how one person can see "gold" in an illustration and another see nothing at all...

or

The same person see the same illustration a year later and than see "gold"

PebbleTrader · Post by **PebbleTrader** » Sat Apr 06, 2013 2:08 am

I do look forward to the day when Zlines are no longer being discussed

PebbleTrader · Post by **PebbleTrader** » Sat Apr 06, 2013 2:10 am

They are just the point at which all held profits have been erased.

It's a concept that in my mind should take no longer than 1 day to see and understand.

Post by **MightyOne** » Sat Apr 06, 2013 2:14 am

dojirock wrote:Come on MO, help me out here....lol

Why do you think that I now only teach line charts and horizontal lines to newbies =)

If they can't trade a line chart then it is just a waste of time to show them anything else.

dojirock · Post by **dojirock** » Sat Apr 06, 2013 2:17 am

PT,

Just a question, do you trade? Most of your post are based on ideas, concepts, stats.

dojirock · Post by **dojirock** » Sat Apr 06, 2013 2:47 am

Doing some Mo studies. I need to to get to those big charts.

So Mo is this drawn correctly, not paying attention to the zlines....
Thats my cheat...

You said,

I want to see the midpoint of the 1 MA stay below the 4 &, ideally, I would also like to see the quarter-points below the 4.

Did you mean the 1/3 points below the 4?

From what I observe is the 1/3 points are below the 4.

trueblueTEX · Post by **trueblueTEX** » Sat Apr 06, 2013 2:51 am

PebbleTrader wrote:They are just the point at which all held profits have been erased.

It's a concept that in my mind should take no longer than 1 day to see and understand.

There are years worth of posts here and they are not in chronological order. I see scores of posts where a line is drawn and someone says that's not the right way to draw it, this is. I don't see why "this line" is a zline while "this line" is not.

It seems like there IS a definition of HOW you place this thing called a zline on the chart.

Or am I wrong? Is defining HOW it is drawn (this many candles required if one closes this way and....) NOT THAT important?

A rat reversal is concretely defined, are zlines concretely defined?

dojirock · Post by **dojirock** » Sat Apr 06, 2013 2:54 am

When you draw a zline, its actually a zone. A S/D zone. Any horizontal line within that zone is considered a zline. Many traders draw them differently based on how they see price.

This is just what I have learned to see from the greats here.

dojirock · Post by **dojirock** » Sat Apr 06, 2013 2:55 am

I started this whole segment out with the exercise of drawing zlines. I also stated the one's drawn don't mean they are incorrect. They are just not ones I would use for my analysis.