Islander and Medici trade the European open | Page 294 | Forex Factory

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Islander and Medici trade the European open

  • #5,861
  • Nov 20, 2019 3:21am Nov 20, 2019 3:21am
Quoting danc
1 min {image}

Nice
Trading Levels with WRBs
  • #5,862
  • Nov 20, 2019 3:26am Nov 20, 2019 3:26am
As I posted elsewhere, I was short, looking for the 50% retrace to be hit......and it was
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,863
  • Nov 20, 2019 3:30am Nov 20, 2019 3:30am
Then it was time to start buying....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,864
  • Nov 20, 2019 3:59am Nov 20, 2019 3:59am
Quoting Islander
Then it was time to start buying.... {image}
I bailed for 24 pts on that buy. Whilst I can see Dax going higher, I am more worried about the Dow, which has IMO could continue to fall another 100+ pts to its 38.2% retrace ~27,6780.

As always, TWT - and the arrival of the US TRaders....
Trading Levels with WRBs
  • #5,865
  • Nov 21, 2019 2:44am Nov 21, 2019 2:44am
Quoting Islander
{quote} I bailed for 24 pts on that buy. Whilst I can see Dax going higher, I am more worried about the Dow, which has IMO could continue to fall another 100+ pts to its 38.2% retrace ~27,6780. As always, TWT - and the arrival of the US TRaders....

27,680 area hit at 18:20 gmt yesterday, actually L was 27,675 cash with a HL overnight at 27,679. Right now, I'm trading Dax which has made new Ls this morning ~ the 13,050 area currently holding
Trading Levels with WRBs
  • #5,866
  • Mar 26, 2020 4:55am Mar 26, 2020 4:55am
A couple of Dax Cash charts from earlier as posted elsewhere.....
Attached Image(s) (click to enlarge)
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Trading Levels with WRBs
  • #5,867
  • Mar 26, 2020 4:57am Mar 26, 2020 4:57am
M1 updated....my trades are live in a private group
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,868
  • Mar 26, 2020 5:11am Mar 26, 2020 5:11am
Dow's input also important - IMO
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,869
  • Mar 26, 2020 8:39am Mar 26, 2020 8:39am
Dax now watching Dow. Usually easier to trade Dow / S&P after NYO....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,870
  • Mar 26, 2020 12:08pm Mar 26, 2020 12:08pm
Dax & Dow M1 this afternoon.

No surprise that Dow was the one to trade, with a 1360 pt rally before its first Pull Back to the MA
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: mar26 dow m1 1700.png Size: 49 KB
Trading Levels with WRBs
  • #5,871
  • Mar 26, 2020 12:26pm Mar 26, 2020 12:26pm
Great stuff Jono.
  • #5,872
  • Mar 27, 2020 4:38am Mar 27, 2020 4:38am
Quoting handy148
Great stuff Jono.
Thanks Handy - hope they may be of some help.

Stay safe

PS after the huge rally, especially in Dow / S&P IMO we should expect a much narrower range - subject to any new news shock
Trading Levels with WRBs
  • #5,873
  • Mar 27, 2020 9:41am Mar 27, 2020 9:41am
Quoting Islander
{quote} Thanks Handy - hope they may be of some help. Stay safe
PS after the huge rally, especially in Dow / S&P IMO we should expect a much narrower range - subject to any new news shock
So this happened. After the initial pre Cash Open (XO) fall there was 4 hours of sideways action in a 75 pt range. We left after an hour, with better things to do.

Then ~ 11:15 GMT - chart time, so 12:15 in Europe Dax had another fall of some 175 pts since which time, Dax has again traded side-ways.

Let's see if Dow offers any better trading opportunities
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,874
  • Mar 28, 2020 5:46am Mar 28, 2020 5:46am
Quote: " Let's see if Dow offers any better trading opportunities "

Whenever we see a lot of wicks and tails on the M5 candles we know that its a difficult session to trade.

However, one of our group went back to his screen late in the session and sold near the highs for + 600 pts. Well done R
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,875
  • Mar 28, 2020 5:48am Mar 28, 2020 5:48am
Attached Image (click to enlarge)
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Note how the first OB Band (envelope) helps show potential shorting areas
Trading Levels with WRBs
  • #5,876
  • Mar 28, 2020 6:08am Mar 28, 2020 6:08am
yes the bands are useful and I ajust the paramenters to different TFs
Bands also are v useful with volume candles
Make sure losses are small and profits are bigger!
  • #5,877
  • Mar 28, 2020 9:24am Mar 28, 2020 9:24am
Quoting 2be
yes the bands are useful and I ajust the paramenters to different TFs Bands also are v useful with volume candles

Agreed and not only do different time frames need different values, but so do different market conditions as seen via the Average Daily Ranges as in Keltner Bands
Trading Levels with WRBs
  • #5,878
  • Edited 5:12pm Mar 28, 2020 4:59pm | Edited 5:12pm
Quoting Islander
{quote} Agreed and not only do different time frames need different values, but so do different market conditions as seen via the Average Daily Ranges as in Keltner Bands
I use keltner channel and/or bollinger with a higher STDV, good for trading to the mean (against the trend as perceived when taking the trade) or with the trend
Static and dynamic band/s, a good mixture
Make sure losses are small and profits are bigger!
  • #5,879
  • Mar 30, 2020 8:30am Mar 30, 2020 8:30am
Use the higher Time Frames to check which "levels" are in play and then trade during the most active periods. Walk away from your screen when in doubt
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #5,880
  • Mar 31, 2020 4:21am Mar 31, 2020 4:21am
So its was "the early bird that caught the worm" morning with Dax up 150 pts in the first half hour before XO.

Most of the move was done by XO +15 min which I consider the start of a long - in m1 terms - consolidation, so coffee and exercise time till the US wakes up
Attached Image (click to enlarge)
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Trading Levels with WRBs
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