090615 First scalp today ... in SIM of course
Signaled by the ZLEMA 16 / ZLEMA 16 to go short
Price moving away from consolidation
ECO dropping
ZLMACD red
StochModRSI dropping and not yet oversold
=> high probability short => in at .185 out at .160 => 5 ticks

Evaluation:
- I forgot a rule ... the ECO was not yet in red
- worked out but long trade (almost hour)
- almost back to even on second bar, would have gotten nervous with real money)
- entry should have been earlier (think arrow was placed 1 or 2 bars earlier then sound signal)
- when looking at the 15 min chart 140.160 was strong support ... indeed it did bounce here ... so less safe than I thought when entering. Also need to read the long term chart before entering.

Peter, good analysis. I see sharky endorsed this entry, which was the first 4 range down bar below ADX consolidation after the DMA rolled over. The one question I have about this trade is the directional component. I show the longer term 11 range chart in a sustained up trend, and the slower 4 range DMA was well below price action in an up trend.

My question: for the high probability trade, is this trade disqualified as counter trend? If not, what qualified this counter trend trade as 'high probability'?

i said good trade this morning on the chat room just from the photo he showed me i was trading myself and didnt have time to look and match all his charts up with mine to see if it was a a1 trade or a 2nd class trade but now that i have time i will look and see if it was a trending trade or a countertrend trade ...sam/sharky

peter here is my chart looking at your trade if its the wrong trade let me know but i think i got it close thanks...sam/sharky

Sharky, what is that bottom indicator / how do you use it?

Sharky,

Cool chart... Is the eco center line the zerolag macd? If so, what settings?
Also curious what the red/blue is at the bottom of the chart.

Thanks,
Todd

Maybe it's the renko?

sharky 

peter here is my chart looking at your trade if its the wrong trade let me know but i think i got it close thanks...sam/sharky

Yep it is the right trade.... and I agree ... that's why I said next time I need to look first at the long term chart.
I see you have the long term information on the 4R chart ... good idea ... will do the same.

Thought you aid on chat the blue/red was 22ZeroLagEMA ... if so I can't replicate. What did you use there ?


thnx Peter

The setting on bottom is the 22EMA/22ZeroLagEMA

I think the blue and red at the bottom is DoubleMa in Bar form with Panel=3 but I don't know the settings.