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Zig Zag Indicator

The Zig Zag Indicator can be used to filter out relatively small price movements. You can preset the deviation as a percentage in order to discard smaller moves. The indicator only draws a line if a relative price move is bigger than the set deviation, thus clarifying the chart by removing market noise and ignoring sideways moves. It does not generate automatic signals. Traders can use it by itself to visualise the current trend or together with other analysis techniques such as Elliott Wave, Support and Resistance and price patterns like the Double Top or the Parallel Channel.

Please note that every up leg is always followed by a down leg and vice versa. The Zig Zag indicator is similar to a moving average: both signal a trend change when the indicator changes direction. Whether used alone or in combination with other techniques, the Zig Zag indicator is a useful tool in a technical trader's toolbox.
AuthenticTrader AuthenticTrader PRO USDJPY, D, Short ,
USDJPY: USDJPY - Time To Sell - High Probability with GREAT Risk Reward
238 0 4
USDJPY, D Short
USDJPY - Time To Sell - High Probability with GREAT Risk Reward

Trend is down - Price has just pulled back but failed to exceed high of 9-2. Bearish Engulfing pattern engulfs two days of price action, and has tagged upper Bollinger Band. Stochastic has turned down and signal line has crossed as well. Finally my new "confirmation filter" the Connors 2 period RSI has exceeded the 90% threshold, which indicates extreme ...

AuthenticTrader AuthenticTrader PRO EURJPY, D, Short ,
EURJPY: EURGPY  Short Set up - High Probability, Great Risk Reward
136 0 6
EURJPY, D Short
EURGPY Short Set up - High Probability, Great Risk Reward

Trend is down, and price has tested this resistance area five times, and did not make a new high as indicated by our Zig Zag. Evening star is forming on daily chart, and we have a tag of the upper Bollinger Band. Checking 4h chart shows several bearish candle reversals - most recently Falling Three Crows, and likewise tag of the upper band. Stochastic has ...

NaughtyPines NaughtyPines ASNA, W,
ASNA: EARNINGS -- ASNA
107 0 1
ASNA, W
EARNINGS -- ASNA

ASNA announces earnings tomorrow, and it may be worth watching if you're looking to get in long on this clothing retailer at bargain basement prices. http://www.marketwatch.com/investing/stock/asna Truth be told, I generally dislike clothing retailers; in addition to just running their company effectively, they have to deal with changing tastes in a far more ...

649bruno 649bruno XAUUSD, 180, Short ,
XAUUSD: XAUUSD Three Hour Chart: Bearish: Mirrors GDX Action
77 1 6
XAUUSD, 180 Short
XAUUSD Three Hour Chart: Bearish: Mirrors GDX Action

This is a 3 Hour Chart. it is more bearish than the daily. Here are ONE DOZEN negatives I see in-XAUUSD, and why I feel-Gold is a sell: 1. Sell Fractals in effect (red rectangle on chart). 2. Alligator jaws OPEN in tandem with sell Fractal. Alligator FEEDING IN DOWN-TREND. 3. Chop indicator (under chart) is above the 38.2 shaded area. This indicates a ZERO trend ...

npatz_2000 npatz_2000 T, D, Short ,
T: WYCKOFF SHORT ON AT&T
342 3 2
T, D Short
WYCKOFF SHORT ON AT&T

This is a combination of Wyckoff and price action. There are many names for this rally up to the upper channel line of the bearish channel, such as "Second Entry", "2 Leg Pullback", "Gartley", and of course "Redistribution". I think this shows an important aspect of trading. Even though there are many different methodologies regarding successful trading, at their ...

npatz_2000 npatz_2000 ANTM, D, Short ,
ANTM: AGGRESSIVE VSA/WYCKOFF SHORT ON ANTM
376 0 3
ANTM, D Short
AGGRESSIVE VSA/WYCKOFF SHORT ON ANTM

Indicators used: 1) Zig Zag with 3% deviations to identify bull and bear swings (similar to the Weis Wave Indicator); 2) OBV is used to determine net volume change during the bull and bear swings (instead of cumulative volume used by the Weis Wave Indicator). Aggressive short entry on break of low of DV (Distribution Volume) bar with significant weakness in the ...

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