Williams%R, SAR X-over 15 minute candles | Page 23 | Forex Factory

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Williams%R, SAR X-over 15 minute candles

  • #441
  • May 18, 2020 9:27am May 18, 2020 9:27am
Quoting rockypoint
Ok, in general a pretty easy day, trending pairs, basically telling you to short against USD and JPY. Just needed to find good entry points. {image} {image} {image} {image}
Good Stuff Rocky....pairs were running hard one way..I was "almost contender" but was waiting for a pullback..never got it...is there a lesson?....nope.....next time ...
  • #442
  • May 18, 2020 10:15am May 18, 2020 10:15am
Well depends on what kind of pullback you are looking for? Are you looking for a pullback to the ema? If so on trending days you might not get one,
But you will get sideways consolidation and that could make for nice entry points.
  • #443
  • Edited 10:32am May 18, 2020 10:20am | Edited 10:32am
Quoting rockypoint
Well depends on what kind of pullback you are looking for? Are you looking for a pullback to the ema? If so on trending days you might not get one, But you will get sideways consolidation and that could make for nice entry points.
Yes, on the average pullbacks worked out better for me then getting on the speedy train and ride it...so got to stick with what my stats are showing me, on the other hand..here is my star so far for today
Attached Image
  • #444
  • May 18, 2020 10:32am May 18, 2020 10:32am
Hi Rocky,

Been following your thread since the start, thanks for all the information you share with us!
I have a question regarding your take on this video:
Inserted Video

Since you're a user of the Williams %R, I thought you might find this interesting.

Happy trading,
Jeroen
  • #445
  • May 18, 2020 12:07pm May 18, 2020 12:07pm
Yes I've seen the the video. I don't use the Williams%R looking for Over bought or sold areas to trade reversals. Looking mainly for continuations of trend.
As they say overbought/sold can last a long time before reversing.. That said I do use William%R in a different way when looking for reversal trades. I overlay indicator 3 time in a window with short, intermediate and longer periods. Will post an example. When doing this will usually remove ema.
  • #446
  • May 18, 2020 12:34pm May 18, 2020 12:34pm
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  • #447
  • May 18, 2020 12:48pm May 18, 2020 12:48pm
Quoting rockypoint
{image}
Tricky Rocky
  • #448
  • May 18, 2020 4:24pm May 18, 2020 4:24pm
Quoting rockypoint
Yes I've seen the the video. I don't use the Williams%R looking for Over bought or sold areas to trade reversals. Looking mainly for continuations of trend. As they say overbought/sold can last a long time before reversing.. That said I do use William%R in a different way when looking for reversal trades. I overlay indicator 3 time in a window with short, intermediate and longer periods. Will post an example. When doing this will usually remove ema.
Very nice! Thanks for your input. You're a creative man!
  • #449
  • May 19, 2020 8:52am May 19, 2020 8:52am
Ok kind of an easy day again pretty 1 currency the JPY was down. Played a couple of pairs I don't trade that often. 1 trade still open
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  • #450
  • May 19, 2020 9:51am May 19, 2020 9:51am
Done for the day, maybe still looking for some possible reversals
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  • #451
  • May 19, 2020 6:07pm May 19, 2020 6:07pm
Hi RP how u doing sir?
i,v just visited the site and realized u started this thread.. congrats and hope u doing well as always
just a thought... why u had to stope that one? to me that appears more promising and even taking less time and more pips , so...?
  • #452
  • May 19, 2020 10:37pm May 19, 2020 10:37pm
Hello Golden Way. I stopped other thread because I was taking my wonderful wife all over the world to see all the the places she'd dreamed of going.
Then Covid 19 stuck at home, bored hence new thread. I'm lucky enough to be in a position where I don't have to trade. I've had 2 successful careers construction then trading.. My main object in life now is making sure the woman I love, is happy. Eventually I hope we return to a world where we can continue our travels. For her she wants more than anything some african safari adventures, for me some wicked waves to ride. I like this system because it's a little slower, with the 5 min. candles instead of the range bars. But provides enough action to keep me interested. In the end it all comes down to price action regardless the system especially for me. I've been through probably 10 or so systems since 2006 different indicators etc. I end up changing because markets change a little, i get a little bored and want to try something new. I'm a mechanic I like to read about system that I find of interest and adapt them to suit me style of trading. This is the fun part of trading for me. To tinker experiment and develop a profitable system. The threads are a way of giving back a little and hoping at least a few people are started on the way to trading full time. I know I'm not the best teacher, my communications skills can be lacking.
  • #453
  • May 19, 2020 11:50pm May 19, 2020 11:50pm
RP, this is the first forum I have ventured on in a few years because I find they can be inhabited by folks who want you to (a) share all of your knowledge and (b) tell them where to enter the market in real time. I think the information you are sharing is 1st rate. It's simple to implement and most importantly follows the trend of the day. To many new traders try to trade counter-trend and get slaughtered. I was at a BBQ in March where a few novice share traders were telling all concerned that the equities markets had found the bottom. I asked them how they knew this, what information they had that the rest of the world didn't etc etc. They asked me my view about equities and I told them that I had no idea as I did not trade those instruments. It is with no joy that I report that these fellows have blown up their hard earned money trading against the market trend. Lesson? Trade with the daily sentiment and trend. My main trading strategy is what is known as a trend following sling-shot methodology on the 60 Min Chart. Trouble is, days can go by where not much happens and this is what interested me in this strategy. It is a great supplement to my prime methodology when the sling-shot set up does not show itself. So from me, a hearty thanks to you for sharing this information; and your daily posts of actual trades are priceless. As we say in Australia..."thanks mate".
  • #454
  • May 20, 2020 4:12am May 20, 2020 4:12am
Do you ever make use of currency strength meters (like this one: http://www.livecharts.co.uk/currency-strength.php) to determine which pairs you like to trade? I find this extremely helpful to find trending pairs for the day.
  • #455
  • May 20, 2020 8:39am May 20, 2020 8:39am
Quoting RobDragon
RP, this is the first forum I have ventured on in a few years because I find they can be inhabited by folks who want you to (a) share all of your knowledge and (b) tell them where to enter the market in real time. I think the information you are sharing is 1st rate. It's simple to implement and most importantly follows the trend of the day. To many new traders try to trade counter-trend and get slaughtered. I was at a BBQ in March where a few novice share traders were telling all concerned that the equities markets had found the bottom. I asked...
RobDragon, what do you know...my main strategy is also trading the hourly swings of higher TF's..here is the last trade I took.
I removed all of my weapons(indi's) from the screen, not sharing. This is just to encourage you on your path of slingshot. It works.

Rocky, this is just a chart of encouragement for RobDragon....I will not post it anymore...
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  • #456
  • May 20, 2020 9:29am May 20, 2020 9:29am
Driven 18, I have a particular way of filtering these trades based on the prior day's close relative to the Daily 8 EMA and BB's. If price closes above the Daily 8 EMA my bias is long (I may consider counter-trend) but needs some decent validation. If price closes above the Daily 8 EMA AND outside of the Daily BB's I will only go long. For my Sling-shots I need to see a daily or weekly High (for longs) broken and then I trade the retest of the broken Resistance (Long) via a slingshot set up on either the 60 min or below. Sounds a bit complex but like all things your eye adjusts. The actual entry is bit heavy indicator wise but it is all set up from broken structure. That is what I also love about RP's methodology. The confirming indicators only come into play after price breaks some type of minor structure in the direction of the trend. Terrific methodology. I also watch broken FIB levels in the direction of the trend like a hawk, with a particular bias for trading the retest of the broken 62%. More often then not, when 62% is broken price reaches for 79% or 88% before rebounding. Again I generally utilise RP's method to confirm entry back round the level. Take a look at the USD/CAD short today at 1.3902 (62%). Power Indicator set for Sell and it gave up 30 Pips. Not great but I'll take it. As an aside the USD/JPY has just had a good break of the 62% but it has gone to the 79% in this move which negates the opportunity for me. Just shows there are a 1,000 ways to dig pips out of the ground. Stay good.
  • #457
  • May 20, 2020 9:31am May 20, 2020 9:31am
Ok I am done for the day got pretty much what I expected it was a bit of a grinder day, price mostly drifting so got a few small wins and one nice one.
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  • #458
  • May 20, 2020 9:42am May 20, 2020 9:42am
missing two day, not front of desktop, busy in my routine job.
nice gain today, very easy day of trading
  • #459
  • May 20, 2020 9:43am May 20, 2020 9:43am
today results
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  • #460
  • May 20, 2020 9:46am May 20, 2020 9:46am
Quoting RobDragon
Driven 18, I have a particular way of filtering these trades based on the prior day's close relative to the Daily 8 EMA and BB's. If price closes above the Daily 8 EMA my bias is long (I may consider counter-trend) but needs some decent validation. If price closes above the Daily 8 EMA AND outside of the Daily BB's I will only go long. For my Sling-shots I need to see a daily or weekly High (for longs) broken and then I trade the retest of the broken Resistance (Long) via a slingshot set up on either the 60 min or below. Sounds a bit complex but...
You used the word "Daily" and "broken structure" .. o yes..you are getting there...

Rocky..that luxury safari is expensive...I see you cranking it up my man....
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