pierre23 wrote:The dots are the high/low of the candle.
yellow lines = zero lines
black lines = candle crossed the zline and closed above?
Correct me if I'm wrong, but are you trying to show that price always came back to the zlines, and then breakout occured of the zero line?
Hot or Cold ._.?
Wicks in the direction of loss and closes (bodies) in the direction of profit.
Starting with that solid yellow line you can see a weak breakout short that you would normally not be very interested in.
Price then closes on each side of the line and then finally ends by wicking the line as shown by the first "what is this."
That would be the first indication that a rise was soon to follow.
I then trail limit orders from the long solid yellow line on 0's and 5's until I catch a fish.
The other yellow lines show zero lines:
Zero lines are a way of seeing held profit without actually knowing for sure what is going on
How do you profit?
Price has to move
How do most traders enter a trade?
They wait for price to move
How much profit do traders make the majority of the time?
Negative, BE, or 5 - 10 pips.
So if you assume that traders have entered from the close or extreme of the prev. bar. and are either sitting with a SL, BEO, or a small take profit then you can guesstimate where to place your limit orders.
Note that it is assumed that they wait for price to move. There could have been a RET and a move toward the prev. close or extreme or they could have entered beyond the extreme...whatever.
Price then makes some sort of decent move and closes so that they are sitting with a profit and that is when you take action.
That said, when all else fails use a b/s stop:
If price is not making an attempt to move to your limit orders and and a candle is drawing to a close my last attempt at a better price would be to see if price would make some sore of quick RET to the nearest 0 or 5 below price.
If that doesn't work then I would just place a b/s stop on the nearest 0 or 5 above price.
Alright, I am done yapping
