An expert is a man who has made all the mistakes which can be made
- #3,042
- Jul 18, 2013 10:34am Jul 18, 2013 10:34am
{quote} Aah... I keep forgetting that 3122 is a legit ZZ Top. Grrrr.... this has been a costly mistake on my part!Okay. So without a tool to divine the status of a ZZ, we assume continuation.
LOL...like you I am just trying to make sense of this all so that I can have something that is tradeable.
An expert is a man who has made all the mistakes which can be made
- #3,045
- Jul 18, 2013 10:41am Jul 18, 2013 10:41am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it
- #3,046
- Jul 18, 2013 10:50am Jul 18, 2013 10:50am
- | Additional Username | Joined May 2013 | 724 Posts
Well if anything thanks for the support you guys have given!!! I guess some of us are still trying to get their head on straight but don't worry about being last in class....I'm there!! and you guys are not taking my spot 
.....yet
I am convinced certain from the start of this thread till the last 2 self kicking days is that while price appears to move randomly it does not. It moves with a specific target in mind, it has purpose. The thing we all should know by now because even I get it.... is where those targets are(A)! Another thing we know with decent confidence is how price will approach the existing target, above it or below it(B)? These gives us two pieces of the puzzle. This however is not enough for us to make trades yet..well at least for me. In order to consider a trade I'll need A-B-C, C is the missing piece for now but what is it? C is what path price will take in order to complete the process. To put it in question form..."How is price going to move so that it can hit the target from above/below" This is what some of us are still trying to figure out.
BUT.....
A-B-C can only be so straight forward if only a single A exists. There is A1,A2,A3 etc etc and as price moves new As are created. The only way I see so far to figure out C is to determine which A price will go for. This has been mentioned but it is something I believe we do not yet fully understand but there is a general idea provided so far.
SO.....
In order to trade I need know find out which A, determine Babove/Bbelow and figure out C so the end equation will look something like A4-Babove-C
However....
Having achieved C is still not enough for trade entry. How to use the information gathered at C is still critical but think this part is where basic trading 101 comes in.
Well.....I know there is still something missing in this thought process and can't put my finger on it yet but I guess this should be my frame work for now.
.....yetI am convinced certain from the start of this thread till the last 2 self kicking days is that while price appears to move randomly it does not. It moves with a specific target in mind, it has purpose. The thing we all should know by now because even I get it.... is where those targets are(A)! Another thing we know with decent confidence is how price will approach the existing target, above it or below it(B)? These gives us two pieces of the puzzle. This however is not enough for us to make trades yet..well at least for me. In order to consider a trade I'll need A-B-C, C is the missing piece for now but what is it? C is what path price will take in order to complete the process. To put it in question form..."How is price going to move so that it can hit the target from above/below" This is what some of us are still trying to figure out.
BUT.....
A-B-C can only be so straight forward if only a single A exists. There is A1,A2,A3 etc etc and as price moves new As are created. The only way I see so far to figure out C is to determine which A price will go for. This has been mentioned but it is something I believe we do not yet fully understand but there is a general idea provided so far.
SO.....
In order to trade I need know find out which A, determine Babove/Bbelow and figure out C so the end equation will look something like A4-Babove-C
However....
Having achieved C is still not enough for trade entry. How to use the information gathered at C is still critical but think this part is where basic trading 101 comes in.
Well.....I know there is still something missing in this thought process and can't put my finger on it yet but I guess this should be my frame work for now.
I want more brain power!
- #3,047
- Jul 18, 2013 10:55am Jul 18, 2013 10:55am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
In order to consider a trade I'll need A-B-C, C is the missing piece for now but what is it? C is what path price will take in order to complete the process. To put it in question form..."How is price going to move so that it can hit the target from above/below" This is what some of us are still trying to figure out. BUT..... A-B-C can only be so straight forward if only a single A exists. There is A1,A2,A3 etc etc and as price moves new As are created. The only way I see so far to figure out C is to determine which A price will go for....
Same thing I am looking for. We need trading rules. That's it.
ABC will result in trading rules. They may not always be RIGHT but they are rules that can be tested.
A pip is only worth it if you know how much you risked to earn it
- #3,048
- Jul 18, 2013 11:12am Jul 18, 2013 11:12am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it
- #3,049
- Jul 18, 2013 11:14am Jul 18, 2013 11:14am
{quote} RE A Don't we already have a ZZ top at around 1.3122? The bottom has not been confirmed yet as far as I know. I sold because my belief is that the price needs to be BELOW the zone....but I am not sure to be honest!!!
I still believe it MAY go lower as we are in a period of dissimilarity and Trend should continue...if my understanding is right?
An expert is a man who has made all the mistakes which can be made
- #3,050
- Jul 18, 2013 11:20am Jul 18, 2013 11:20am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
{quote} Just closed this short in demo for a 20 pip gain! I still believe it MAY go lower as we are in a period of dissimilarity and Trend should continue...if my understanding is right?
A pip is only worth it if you know how much you risked to earn it
- #3,051
- Jul 18, 2013 11:32am Jul 18, 2013 11:32am
- Joined Jul 2009 | Status: symbol | 1,549 Posts
Wow, you can't afford to miss this thread! Training someone today and 20 pages roll by lol. I've got some catching up to do tonight then I see
Keep smiling
- #3,052
- Jul 18, 2013 11:35am Jul 18, 2013 11:35am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
Wow, you can't afford to miss this thread! Training someone today and 20 pages roll by lol. I've got some catching up to do tonight then I see
A pip is only worth it if you know how much you risked to earn it
- #3,054
- Jul 18, 2013 11:39am Jul 18, 2013 11:39am
{quote} You didn't miss much mate... just a bunch of us panicking as prices plummted and pierced the DS Quiet Zone lower band created yesterday.
Or maybe drama for me...
Guys, the best advice I can give, based on statistics from today: I'm short, so >97% chance price will go up...
- #3,055
- Jul 18, 2013 11:56am Jul 18, 2013 11:56am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
ZigZig indicator ! My favourite.I've lost 40 cents today ! {image}
I've taken a small Long.
Why? Dissim started and a ZZ Bottom has formed. Notes from last night, when dissimilarity drops to zero, it is a support/resistance price.
The StochBB is also outside the bands.
If the ZZBot gets confirmed with price going over the BB Mid, I will add more longs. Target, Zone above in green.
A pip is only worth it if you know how much you risked to earn it
- #3,058
- Jul 18, 2013 12:12pm Jul 18, 2013 12:12pm
I should be quite interesting to see if we go down to correct the zone below from here since we have broken down into the area of high and low within the dis-similarity range of the lower zone.
During dis-similarity that later created the zone below current price, the price moved between the yellow circles.
During dis-similarity that later created the zone above current price, the price moved between the green circles.
Looks like price is struggling to break down into the area of the lower zone (red circle) and it will be very interesting to see what happens from here!
During dis-similarity that later created the zone below current price, the price moved between the yellow circles.
During dis-similarity that later created the zone above current price, the price moved between the green circles.
Looks like price is struggling to break down into the area of the lower zone (red circle) and it will be very interesting to see what happens from here!
- #3,059
- Jul 18, 2013 12:20pm Jul 18, 2013 12:20pm
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it
- #3,060
- Jul 18, 2013 12:24pm Jul 18, 2013 12:24pm
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it