Today it was the same approach only the direction was LONG today (US30).
Until the formation of the 2nd dot which is formed below the large ORANGE DOT, the price can continue to rise. After the formation of the 2nd dot, the BIAS is SHORT (ORANGE ZZ LINE). From this point I look for SHORT SETUPS.
This is of course only my approach and can of course differ from other traders.
Skyold

At Xards request I have written this indicator that will alert you when the White ZZ Line has changed to the current high/low. This is to let you know that you should be looking very closely at taking your profit. As per Xards words " For optimum EXIT area, watch white ZigZag line to complete its drawing on 1hr, 15m & 5min TFs" from viewtopic.php?p=1295446661#p1295446661

This is the Beta version, so use with caution and use your own brain to decide if you should close the trade or not. any issues please post them here for me to deal with them.

It will give you an alert when the White ZZ redraws, so you will only be notified if that happens and I will not be held responsible for any loss or profit you make. It will only appear at the close of the candle and is best placed on your 5 or 1 minute chart.

Just drop the indicator on your chart and will work as long as !!!-MT4 X-MZZ4.exe is in your indicators folder.

Just made a slight update to clear signals due to repainting of ZZ, if you downloaded before please redownload.

FourXXXX wrote: ↑

Fri Oct 08, 2021 7:37 am

Xard might correct me here but I think you would continue trading in direction B selling off the yellow Dots and taking short scalps. I would be careful though if there is a larger retracement to the yellow Dot and be ready for a higher Blue Dot indicating a likely trend change.

My reason for saying this is that the downtrend may not be over and could push down quite a bit further. But once you have a second Dot that remains higher than the large Orange followed by a colour change in candles it is a trend change and only buy trades.

Thanks FourXXXX.
So in this case trade off the yellow line or perimeter is not true? When we need to go away from orange line and when need to go paralell with the orange line? Because XARD almanac says trade off the zigzag/PD.
I write here my method which is most of the time fails.
I'm checking the h4 chart. For example on the US30 I see thatthe bias is down white little dot. Then I coming down to h1 and m15. On the m15 I see that the bias is down because of the perimeter dot and away from the orange line. So I go down to 5m to enter trade. down.

BAsed on the pictures attached am I correct?

normannasty wrote: ↑

Fri Oct 08, 2021 5:24 pm

Thanks FourXXXX.
So in this case trade off the yellow line or perimeter is not true? When we need to go away from orange line and when need to go paralell with the orange line? Because XARD almanac says trade off the zigzag/PD.
I write here my method which is most of the time fails.
I'm checking the h4 chart. For example on the US30 I see thatthe bias is down white little dot. Then I coming down to h1 and m15. On the m15 I see that the bias is down because of the perimeter dot and away from the orange line. So I go down to 5m to enter trade. down.

BAsed on the pictures attached am I correct?

Yes, you are correct the bias is down on M15 and below, the H1 and H4 have not shown a second dot as yet. So time to sit on your hands and wait for the H1. The yellow lines indicate resistance levels off the previous highs which may or may not be a level for a new high.

The Orange ZZ line connects the Orange Perimeter Dots, as per my post above trade away from the Orange ZZ/Perimter Dots when you have a confirmed trend change.

FourXXXX wrote: ↑

Fri Oct 08, 2021 5:52 pm

Thanks FourXXXX.
So in this case trade off the yellow line or perimeter is not true? When we need to go away from orange line and when need to go paralell with the orange line? Because XARD almanac says trade off the zigzag/PD.
I write here my method which is most of the time fails.
I'm checking the h4 chart. For example on the US30 I see thatthe bias is down white little dot. Then I coming down to h1 and m15. On the m15 I see that the bias is down because of the perimeter dot and away from the orange line. So I go down to 5m to enter trade. down.

BAsed on the pictures attached am I correct?
[

Yes, you are correct the bias is down on M15 and below, the H1 and H4 have not shown a second dot as yet. So time to sit on your hands and wait for the H1. The yellow lines indicate resistance levels off the previous highs which may or may not be a level for a new high.

The Orange ZZ line connects the Orange Perimeter Dots, as per my post above trade away from the Orange ZZ/Perimter Dots when you have a confirmed trend change.
[/quote]

The Orange ZZ line connects the Orange Perimeter Dots, as per my post above trade away from the Orange ZZ/Perimter Dots when you have a confirmed trend change.
Which chart are you wait the confirmation ? m15 m5 1h?

normannasty wrote: ↑

Fri Oct 08, 2021 6:01 pm

Which chart are you wait the confirmation ? m15 m5 1h?

It is all here in Xard's post. viewtopic.php?p=1295446477#p1295446477

TakeProfit Indicator just did its job on the DAX. The Semafor has repainted but the last candle has not closed yet. So it gave the alert on the previous candle. Next, you need to decide what you want to do, close or be greedy?

Xard is the brains behind this, I just automated it a bit.

FourXXXX wrote: ↑

Fri Oct 08, 2021 6:14 pm

It is all here in Xard's post. viewtopic.php?p=1295446477#p1295446477

No its not there.
The problem is when I looking past charts like that you mention I can see crystal clear what is happening. But in live when the dots moving its not clear in what situation what is the solution.

normannasty wrote: ↑

Fri Oct 08, 2021 6:28 pm

No its not there.
The problem is when I looking past charts like that you mention I can see crystal clear what is happening. But in live when the dots moving its not clear in what situation what is the solution.

The answers are there, it is always easy in hindsight. If I traded as well in real time as I do in hindsight I would living in a gold palace.

It takes practice, it's like Rocket Science ask Elon Musk how many rockets he has blown up. You need to learn to recognise things in real-time as you are trading. Put in the time and learn it, like learning to walk or ride a bike, it's easy when you know how but when you first try you fall over and sometimes get hurt.

FourXXXX wrote: ↑

Fri Oct 08, 2021 6:37 pm

The answers are there, it is always easy in hindsight. If I traded as well in real time as I do in hindsight I would living in a gold palace.

It takes practice, it's like Rocket Science ask Elon Musk how many rockets he has blown up. You need to learn to recognise things in real-time as you are trading. Put in the time and learn it, like learning to walk or ride a bike, it's easy when you know how but when you first try you fall over and sometimes get hurt.

Thanks. I learn since almost 2 years so i put time into it. I read the posts day by day. I practice it day by day.