Disliked{quote} === What is a WRB? We keep that simple as TMS 5-Method is a simple trading method but it is not an easy trading method as some member believe. Trading requires different set of skills and TMS 5-Method is no different. You need to have different skills to be a proficient TMS trader. A WRB is a price bar which has a wide range its high-low range must be the highest when compared to the past 3 to 5 bars. Not all WRBs will result in market consolidation for example when there is a breakout, a WRB can follow with another WRB. But WRB which occur...Ignored
To succeed in trading with TMS 5-Method you need to have a lot of experience in price action trading and how to recognise the market conditions.
This is what Big E wrote in his post#647.
what to define as big candles, small candles,
how to see short term trend, long term trend,
how to see consolidation,
how to locate support and resistance, etc.
You need to develop your technical edge using Post#647.
Without a technical edge, most people will not likely to make it to the next level to become better traders.
Knowing a few price bars/candlestick patterns will help you identify the above and develop your edge.
Weekly Control Candle WCC is original strat's The PATH.
see strat's post #276 in his new thread.
WRB is well know from the study website which I previously provided the link in this thread. This is more for advance traders.
Differences between WCC and WRB
WCC is only seen in Weekly timeframe.
WRB can be seen in every timeframe from M1 to MN. But do not over do that, I only look at WRB in my trading timeframes - W1, D1, H4, H1 and M15.
WCC is not always a 'big' candle. WCC will control the trading range until there is clear breakout of that range. Most effective when trading the D1 chart.
WRB must always a big candle following the criteria that the WRB must the largest candle of the two previous candles.
Both the WCC and WRB are just two simple ways to look at the market conditions for us to pick our trades. Big E had been very clear with three things in his Post#647. .
1) Do Not trade CONSOLIDATION or when near CONSOLIDATION.
2) Avoid trading when near to support and resistance.
3) Know your short term and long term trends.
If you have a consistent approach to the above, you will most likely do well in trading like Big E did.
Other than WCC and WRB, there are a few other price bar patterns which I use. These are also big candle and small candles by BIG E definition.
BEOB/BUOB
BUEB/BUEB
DBHLC/DBLHC
IB/DIB
PB
MC[3].
Just these few which are most common and do not overwhelm yourself with more than these few. Keep It Simple.
Example charts below:
Sorry for this late reply. Busy week with my own thread and also BitCoin is exploding making new high this week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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