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Islander and Medici trade the European open

Hi parisboy - thank you for your post. Following Medici's comments I have read your thread and enjoyed your original ideas. However, so far, I have not been able to adapt them to my short term, ID trading. I'll take another look.
Kind regards
Islander
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Trading Levels with WRBs & Aggressive, Volatile Volume
Quoting Islander
Hi parisboy - thank you for your post. Following Medici's comments I have read your thread and enjoyed your original ideas. However, so far, I have not been able to adapt them to my short term, ID trading. I'll take another look. Kind regards Islander {image}
Hi Islander

you are already on the right track with your Envelopes.

Do not hesitate to ask questions.

Best Regards Parisboy
Tiny ultra low volumed candles tell us something too.

Here, a Higher Low at the slow MA and putting in a buy stop above the fast MA is a safer way to trade.....the trade was worth around 29 points

After the NYSE Open - 13:30 GMT on this chart, I usually switch to the Dow or NAS
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Trading Levels with WRBs & Aggressive, Volatile Volume
NAS same idea, sell > / < fast MA and in direction of slow MA....

Edit: A HL > 7050 SS at 13:59 with slow MA almost flat allowed a B stp > slow MA.....price then went +15 up to the outer envelope / **75 Sweet Spot in a higher volumed, wider candle - a marubozo.....good place to take ~15 pts
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Last post...Dax S20....attempted to move up into LH on low volume (no demand)....once again...Sell Stp < MAs and follow price down with trailing SL till price hits **50 SS in HV WRB also well outside envelope.....bank 50ish.....KISS
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Trading Levels with WRBs & Aggressive, Volatile Volume
A question to you pro guys: Do you have an idea what this trader is doing?
Inserted Video


Or has been doing, he retired in 2015.
Quoting TraderJF
A question to you pro guys: Do you have an idea what this trader is doing? https://www.youtube.com/watch?v=CyT0BKBinoM Or has been doing, he retired in 2015.

Sorry, no and given that it appears to be some form of high speed scalping, if whatever he was doing worked back then, it might not do so now with all of the Smart Money Algos that are now being used....
Trading Levels with WRBs & Aggressive, Volatile Volume
As Dax is no longer as attractive to trade as a couple of years ago, I often find myself trading € or cable. This morning it has been €....

Right now, some 100 mins of consolidation whilst we wait to see what the US Traders are going to do....same old ideas - action around levels whilst watching for WRBs and Higher Vols.....the Three Dragons are for position sizing as well as a vizual reminder to stay the "right side" of the LWMA 15...
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Trading Levels with WRBs & Aggressive, Volatile Volume
Quoting Islander
As Dax is no longer as attractive to trade as a couple of years ago, I often find myself trading € or cable. This morning it has been €.... Right now, some 100 mins of consolidation whilst we wait to see what the US Traders are going to do....same old ideas - action around levels whilst watching for WRBs and Higher Vols.....the Three Dragons are for position sizing as well as a vizual reminder to stay the "right side" of the LWMA 15... {image} {image} {image}
hi Islander,

use of ema 500 is quite unusual...
kindly throw some light on selection of period 500.

thanks.
cheers!
Quoting pgd
{quote} hi Islander, use of ema 500 is quite unusual... kindly throw some light on selection of period 500. thanks. cheers!
Hi - indeed, not often used, but its the m5 100 EMA and in the context of the Three Dragons used for position size, it works quite well
Best

Islander

PS Since the US opened, the Big Dogs have been keeping € in two narrow ranges whilst they run the stops of the uneducated and fill their boots for their next move....
Trading Levels with WRBs & Aggressive, Volatile Volume
Quoting Islander
{quote} Hi - indeed, not often used, but its the m5 100 EMA and in the context of the Three Dragons used for position size, it works quite well Best Islander PS Since the US opened, the Big Dogs have been keeping € in two narrow ranges whilst they run the stops of the uneducated and fill their boots for their next move....
Re. position sizing --

This is what I understand:

for bounces off the lwma15, size is x1.
for bounces off the ema100, size is x2.
for bounces off the ema500, size is x3.

Pl confrm if I got this right.

Thanks.
Quoting Islander
Last post...Dax S20....attempted to move up into LH on low volume (no demand)....once again...Sell Stp < MAs and follow price down with trailing SL till price hits **50 SS in HV WRB also well outside envelope.....bank 50ish.....KISS {image}
Hi Islander,

Does "HV WRB" stand for High Volume Wide Range Bar?

thanks.
Quoting pgd
{quote} Re. position sizing -- This is what I understand: for bounces off the lwma15, size is x1. for bounces off the ema100, size is x2. for bounces off the ema500, size is x3. Pl confrm if I got this right. Thanks.
Its simpler than that.....Trade in the direction of the lwma 15 x 1 unit.

IF the ema 100 is the same colour (slope) as the lwma 15, trade 2 units.

If the lwma 500 is the same colour (slope) as the other 2 MAs, trade 3 units.

So right now in Cable, around FO, I am selling 3 units on a signal from the 15 lwma OR Buying 1 unit......whilst watching the action around the BRN at 1.3200
Trading Levels with WRBs & Aggressive, Volatile Volume
Quoting pgd
{quote} Hi Islander, Does "HV WRB" stand for High Volume Wide Range Bar? thanks.

Yes High Volume & Wide Ranged Body both are important clues as to the action of the Big Boys / Smart Money

I was short 3 units in cable into FO banking ~its BRN

Now long 1 unit cable with tight stop.....M1 15 LWA just changed colour - turned up after a HV WRB at FO held ~cable's BRN ( Big Round Number)
Trading Levels with WRBs & Aggressive, Volatile Volume
Quoting Islander
{quote} Yes High Volume & Wide Ranged Body both are important clues as to the action of the Big Boys / Smart Money I was short 3 units in cable into FO banking ~its BRN Now long 1 unit cable with tight stop.....M1 15 LWA just changed colour - turned up after a HV WRB at FO held ~cable's BRN ( Big Round Number)
Edit: Closed for +10 pips - proper ones!
Trading Levels with WRBs & Aggressive, Volatile Volume
Chart with the action so far....selling from FO, 3 units as all 3 MAs were Red.

Buy 1 unit after Higher Low as the BRN held and the 15 LWMA turned up (blue)

Sell 3 units after the LH, expecting a new low as the BBs look for the stops of the new buyers....see 07:47

Now flat to watch what happens at the top of the hour....
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Trading Levels with WRBs & Aggressive, Volatile Volume
An hour has passed with a VWRB + HV at 08:24 as the BBs pushed cable lower - actually towards a Price Projection ~1.3170 that I have on my Daily Chart.

Buying / Profit Taking was clear to see in the new low at 08:24 with huge volume in that red hammer...notice that the bounce stalled at the 50% retrace of that last push down AND that it was ~the mid point of that VWRB - something to watch out for

So another consolidation - its coffee time in Europe or tea and diggy bics in the UK - best to wait for the next clear signal...
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a couple more hours have passed with two ~50% retraces - 09:47 & 11:45 and two fib expansions hit at 10:33 and 11:23 hit as new lows.

Now there is a Higher Low in at 12:14 and so I am long from when the LWMA 15 changed colour with price above it. Lets see what the US Traders do....

A Higher Low with good volume above the last LH would signal a larger retrace.....TWT

PS The M15 Dollar Index has just put in a NH, followed immediatly by a bearish engulfing candle.....mmm
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Good work as usual captain!
I will try to understand you during your “new” trip to € and Cable.
Thank you! Green pips!
Quoting Iggo
Good work as usual captain! I will try to understand you during your “new” trip to € and Cable. Thank you! Green pips!

Hi Iggo.....back to Dax today....chart says it all......HV, WR action ~Levels.... as said MANY times before .

Reagrds

Islander
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