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  • #14,581
  • Aug 26, 2021 9:16pm Aug 26, 2021 9:16pm
Quoting TerryDawe
{quote} Just my two cents, last week's candle closed below recent WCC so that is no longer a WCC. Therefore last week's candle is a potential WCC and is only confirmed at the end of this week. Regards Terry


that's my understanding too that we must wait for this week to close and then we can confirm the WCC.

but as of today, that big candle remains a big candle aka wide range candle.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD WCC AUg 27.png Size: 25 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #14,582
  • Aug 27, 2021 12:06am Aug 27, 2021 12:06am
Quoting emmanuel7788
{quote} that's my understanding too that we must wait for this week to close and then we can confirm the WCC. but as of today, that big candle remains a big candle aka wide range candle. {image}
That is not how Strat defined it. In the last sentence of his post he states : A Weekly Candle remains IN Control until another Weekly Candle Closes beyond it's high or low. That is how a WCC is formed. Looking at the chart ..
So the hanging man candle was In Control until the wide range candle closed beyond the hanging man's low. That price action is what confirmed the wide range candle as a new Weekly Control Candle. This allows you to draw a horizontal line across both bottom and top of the New Weekly Controlling Candle as shown projecting them into the future as they are weekly Support and Resistance indicators respectively. Those S/R indicators can be used in the following days of trading. Until a new WCC is formed.

Looking at the chart the wide range candle is the WCC for the price action of the week we are currently in, ending at Friday's Aug 27 close. If this week's price action Aug 23 to 27 remains inside of the top and bottom of last week's wide range candle (between the S/R lines ) then the wide range candle continues to be the Weekly Controlling Candle.
However if the price action of the current week we are in closes (on Friday) beyond the high or low of the wide range candle then our current week's price range represented by the Weekly candle becomes a new Weekly Controlling Candle with it's low and high drawn as a new support and resistance going forward into the next week. And so it goes .
  • #14,583
  • Edited 8:40am Aug 27, 2021 7:47am | Edited 8:40am
Quoting Lou
{quote} That is not how Strat defined it. In the last sentence of his post he states : A Weekly Candle remains IN Control until another Weekly Candle Closes beyond it's high or low. That is how a WCC is formed. Looking at the chart .. So the hanging man candle was In Control until the wide range candle closed beyond the hanging man's low. That price action is what confirmed the wide range candle as a new Weekly Control Candle. This allows you to draw a horizontal line across both bottom and top of the New Weekly Controlling Candle as shown projecting...
Lou, its seem you dont understand in full about wcc
this its friendly so please dont take it like ofense
I try explain with my poor english but maybe beter speaking english people here can tell again what I say with beter words to understand

A Weekly Candle remains IN Control until another Weekly Candle Closes beyond it's high or low.

what mister Strat say here its weekly control candel can be in control for many candel that folow, like its my former wcc with white lines (hammer candel)
its have many candels inside it and its in control of the folow candels
its stop to be in control until one weekly candel closes under low or above high of that wcc, and in my chart its the big red candel
now you cant say its any control any more in this chart, because red candle its not wcc and its controling nothing
what red candel do now its only show sell direction in boss chart
sory for poor english skil, but hope I could able explain in understanding way
  • #14,584
  • Aug 27, 2021 10:06am Aug 27, 2021 10:06am
Just as you quoted Strat.

A Weekly Candle remains IN Control until another Weekly Candle Closes beyond it's high or low.

Using emmanuel7788's chart and looking to the left note that at one time the hanging man candle is in control
1. Because it Closed beyond the prior weekly candle's low. (exactly in line with Strat's rule above)
2. It becomes the new WCC right at it's Close.
3. The hanging man then controls the following 3 weeks as shown by price remaining inside the high and low of the hanging man.(exactly in line with Strat's rule above )

Then the wide range candle closes below the hanging man candle. This makes the wide range candle the new WCC at it's Close.
(exactly in line with Strat's rule above)
Going forward, the wide range candle will be IN Control as the WCC until a new weekly candle closes beyond it's high or low. (Which is exactly in line with Strat's rule )
A weekly candle is judged at it's own Close. If it's close is beyond the last WCC then it is the new WCC.

As a WCC it can be used for S/R in the following week or weeks (as in emmanuel's chart red lines) until another weekly candle closes beyond it's high or low . (exactly in line with Strat's rule above)
  • #14,585
  • Aug 27, 2021 10:10am Aug 27, 2021 10:10am
A trend trader's dream come true!

Russell 2000

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Click to Enlarge Name: a.PNG Size: 39 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,586
  • Aug 27, 2021 2:46pm Aug 27, 2021 2:46pm
Quoting Lou
Just as you quoted Strat. A Weekly Candle remains IN Control until another Weekly Candle Closes beyond it's high or low. Using emmanuel7788's chart and looking to the left note that at one time the hanging man candle is in control 1. Because it Closed beyond the prior weekly candle's low. (exactly in line with Strat's rule above) 2. It becomes the new WCC right at it's Close. 3. The hanging man then controls the following 3 weeks as shown by price remaining inside the high and low of the hanging man.(exactly in line with Strat's rule above ) Then...
1. Because it Closed beyond the prior weekly candle's low. (exactly in line with Strat's rule above)

this its not true, its dont become wcc because its closed below previos weekly candel
its become wcc ONLY because next candle its impossible for her to close above or below high or low of hammer candel (its hammer not hanging man and I tell you at end how my mentor told me to recognize them)

2. It becomes the new WCC right at it's Close.

no, because we dont know how next candel will close, and maybe it will close above or below hammer candel high or low and this will invalidating hammer candel as wcc

3. The hanging man then controls the following 3 weeks as shown by price remaining inside the high and low of the hanging man.(exactly in line with Strat's rule above )

its wrong to talk about control as wcc until next candel cant close above or below high or low of hammer candel

Going forward, the wide range candle will be IN Control as the WCC until a new weekly candle closes beyond it's high or low. (Which is exactly in line with Strat's rule )

its false because it cant be in control as wcc because its not wcc yet

Just as you quoted Strat.
A Weekly Candle remains IN Control until another Weekly Candle Closes beyond it's high or low.

no no, I quate you there, not mister Strat, because you said a weekly candle remain in control, but mister Strat said a weekly control candle remain in control, and you can see if you check previous page where you post original message from mister Strat
so I quate exact what you said in this message, not mister Strat, its not his words like this, his words its weekly control candel and not weekly candel

Lou, mister Strat talk about control in weekly cotrol candels only after next candel its impossible to close above or below of that candel high or low
when he say control he mean price will go up and down in boundary of that candel, but control its establish only when its not a candel with lower close or higher close than previos candel high or low

mister Strat sure its reading how we dialogue of wcc and when time is right he will say how its correct

now I tell how I was teach to recognize hammer and hanging man candels
hammer beats nail from above to down, and this its price come from up to down and then its the candel
thats hammer

hanging man it hang on a tree and you look up to see him
thats price go up and then its the candel

hammer its at end of price come down and hanging man its at end of price come up
  • #14,587
  • Edited 4:20pm Aug 27, 2021 2:53pm | Edited 4:20pm
Quoting strat
A trend trader's dream come true! Russell 2000 {image}
beauty trade
but mister Strat, Im dont understand entry number four because its not candel patern there
its adon entry because of fib level break out?
  • #14,588
  • Aug 27, 2021 3:11pm Aug 27, 2021 3:11pm
Quoting ph2lsl
trades taken at this worker candels Im sell eurusd worker chart beeb {image} Im sell audusd worker chart beeb {image} Im buy euraud worker chart buob {image}
all 3 trades just go to stoploss
  • #14,589
  • Edited 5:04pm Aug 27, 2021 4:39pm | Edited 5:04pm
ph2lsl ... please check Strat's post.

1. A Weekly Candle's own range is what determines if that candle is or is not a WCC.
2. If it's open or close is beyond the last WCC then it IMMEDIATELY becomes the new WCC.
3. If it's open or close is not beyond the last WCC then the last WCC REMAINS in control.

It is that simple. Note that a weekly candle's range itself is the determining factor if it is a WCC . And that is determined Immediately at the close of the weekly candle. We do not have to wait for another week's price action.
  • #14,590
  • Aug 28, 2021 6:09am Aug 28, 2021 6:09am
Quoting Lou
ph2lsl ... please check Strat's post. 1. A Weekly Candle's own range is what determines if that candle is or is not a WCC. 2. If it's open or close is beyond the last WCC then it IMMEDIATELY becomes the new WCC. 3. If it's open or close is not beyond the last WCC then the last WCC REMAINS in control. It is that simple. Note that a weekly candle's range itself is the determining factor if it is a WCC . And that is determined Immediately at the close of the weekly candle. We do not have to wait for another week's price action.
1. A Weekly Candle's own range is what determines if that candle is or is not a WCC.
its wrong thinking Lou, because wcc is created with two candels and you look only in one candel

2. If it's open or close is beyond the last WCC then it IMMEDIATELY becomes the new WCC.
like I say above, two candels its need to be valid wcc
last candel tell you if previos candel its wcc or not
until last candel its closed you cant speak of valid wcc

3. If it's open or close is not beyond the last WCC then the last WCC REMAINS in control.
this yes its true, wcc remain in control until another weekly candel have a close beyond high or low of wcc

It is that simple. Note that a weekly candle's range itself is the determining factor if it is a WCC . And that is determined Immediately at the close of the weekly candle. We do not have to wait for another week's price action
again wrong, two candels its needed for make validity of wcc
its not corect to say candel range determine if its wcc or not, because next candel close determine this
you must look at candel two to understand if candel one its wcc

we can discus it for long time like this, but mister Strat know which its corect and hope he make it clear soon
  • #14,591
  • Aug 28, 2021 7:32am Aug 28, 2021 7:32am
Quoting ph2lsl
{quote} 1. A Weekly Candle's own range is what determines if that candle is or is not a WCC. its wrong thinking Lou, because wcc is created with two candels and you look only in one candel 2. If it's open or close is beyond the last WCC then it IMMEDIATELY becomes the new WCC. like I say above, two candels its need to be valid wcc last candel tell you if previos candel its wcc or not until last candel its closed you cant speak of valid wcc 3. If it's open or close is not beyond the last WCC then the last WCC REMAINS in control. this yes its true,...

hi ph2lsl

now that the Weekly Aug 23 to 27 week is closed, the Weekly Control Candle wk33 following the Aug 20 Close is confirmed. this has been my understanding following stratsforextrading.com for several years.

But I think this is best left to strat to confirm once again so that we are all in agreement.

Anyway, starting Monday next week , I trade the H4 and have Daily view with that WCC wk33 high-low on my chart.
In case I see a Daily close above the WCC high, I still have to wait till Friday Close.

AUDUSD Weekly chart

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Weekly Aug27 NYClose WCC 28-8-2021 7-28-54 pm.png Size: 24 KB


AUDUSD Daily chart

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Daily NYClose Aug 27 28-8-2021 7-34-07 pm.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #14,592
  • Aug 28, 2021 8:21am Aug 28, 2021 8:21am
Quoting emmanuel7788
{quote} hi ph2lsl now that the Weekly Aug 23 to 27 week is closed, the Weekly Control Candle wk33 following the Aug 20 Close is confirmed. this has been my understanding following stratsforextrading.com for several years. But I think this is best left to strat to confirm once again so that we are all in agreement. Anyway, starting Monday next week , I trade the H4 and have Daily view with that WCC wk33 high-low on my chart. In case I see a Daily close above the WCC high, I still have to wait till Friday Close. AUDUSD Weekly chart {image} AUDUSD...
hi Emmanuel
Im think your understanding of wcc following stratsforextrading.com for several years is corect
I search and found now detail info in this post and its easy to understand wcc for everyone now
https://www.forexfactory.com/thread/...3#post10426533
mister Strat now can use his free time in beter way then explain again what already its explained before
pictures in that post its very clear about what its wcc and what its not wcc especialy this: https://www.forexfactory.com/attachm...6&d=1508953345
  • #14,593
  • Aug 29, 2021 9:10am Aug 29, 2021 9:10am
Quoting ph2lsl
{quote} beauty trade but mister Strat, I don't understand entry number four because its not candle pattern there its add on entry because of fib level break out?
This was a runaway bull trend confirmed by volume and OI with no sellers anywhere so I just entered another buy which happened to coincide with the break of the 200 Fibonacci level - nothing clever or fancy at all. I anticipated profit taking where I exited at the Hammer at SR but this did not happen until 5 candles later. From there, the buyers continued to dominate until NYSE close.

I also traded the Dow up to its topping/consolidation phase.

Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 47 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,594
  • Aug 29, 2021 9:29am Aug 29, 2021 9:29am
Weekly Control Candle - WCC

I don't have forex charts anymore to explain these examples. A Weekly Control Candle is either "In Control" or its not - there is no subjectivity or ambiguity - it is either Black or White - never a shade of gray.

A WEEKLY Control Candle is "In Control" when its CLOSE is above the high of the previous WEEKLY candle or below the low of the previous WEEKLY candle. No decision on a Weekly Control Candle can be made UNTIL the Market CLOSES on Friday at 4pm NY time.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,595
  • Aug 29, 2021 9:39am Aug 29, 2021 9:39am
Quoting strat
Weekly Control Candle - WCC I don't have forex charts anymore to explain these examples. A Weekly Control Candle is either "In Control" or its not - there is no subjectivity or ambiguity - it is either Black or White - never a shade of gray. A WEEKLY Control Candle is "In Control" when its CLOSE is above the high of the previous WEEKLY candle or below the low of the previous WEEKLY candle. No decision on a Weekly Control Candle can be made UNTIL the Market CLOSES on Friday at 4pm NY time.
Thank you Strat for your explanation and confirming mine.
  • #14,596
  • Edited 10:31am Aug 29, 2021 10:15am | Edited 10:31am
Quoting strat
Weekly Control Candle - WCC I don't have forex charts anymore to explain these examples. A Weekly Control Candle is either "In Control" or its not - there is no subjectivity or ambiguity - it is either Black or White - never a shade of gray. A WEEKLY Control Candle is "In Control" when its CLOSE is above the high of the previous WEEKLY candle or below the low of the previous WEEKLY candle. No decision on a Weekly Control Candle can be made UNTIL the Market CLOSES on Friday at 4pm NY time.
you mean red candel 1 is wcc if green candel 2 its not closed yet?
Attached Image
this its your explain for another trader on his chart and its similar like example in my chart
its say there its not wcc
https://www.forexfactory.com/attachm...6&d=1508953345
  • #14,597
  • Aug 29, 2021 11:10am Aug 29, 2021 11:10am
[quote=ph2lsl;13685935]{quote} you mean red candel 1 is wcc if green candel 2 its not closed yet? ]

Yes.

emmanuel7788 drew that correctly with the S/R lines on his chart post # 14581
  • #14,598
  • Aug 29, 2021 2:32pm Aug 29, 2021 2:32pm
Quoting strat
{quote} This was a runaway bull trend confirmed by volume and OI with no sellers anywhere so I just entered another buy which happened to coincide with the break of the 200 Fibonacci level - nothing clever or fancy at all. I anticipated profit taking where I exited at the Hammer at SR but this did not happen until 5 candles later. From there, the buyers continued to dominate until NYSE close. I also traded the Dow up to its topping/consolidation phase. {image}
thanck you mister Strat
  • #14,599
  • Aug 29, 2021 2:54pm Aug 29, 2021 2:54pm
[quote=Lou;13685970]
Quoting ph2lsl
{quote} you mean red candel 1 is wcc if green candel 2 its not closed yet? ] Yes. emmanuel7788 drew that correctly with the S/R lines on his chart post # 14581
then this mean every candel in the chart its a wcc, because if a weekly candel who close above high or below low of previos candel is a wcc, and a weekly candel who has next candel not able to close beyond its high or low is also wcc
something its not logic here
and mister Strat said very clear that wcc is compose in two candels, last one cant close beyond high or low of previos one
  • #14,600
  • Edited 9:41pm Aug 29, 2021 9:26pm | Edited 9:41pm
[quote=ph2lsl;13686068]
Quoting Lou
{quote} then this mean every candel in the chart its a wcc, because if a weekly candel who close above high or below low of previos candel is a wcc, and a weekly candel who has next candel not able to close beyond its high or low is also wcc something its not logic here and mister Strat said very clear that wcc is compose in two candels, last one cant close beyond high or low of previos one
What you show right above are NOT MY WORDS.. ... you are not quoting me.. you are quoting yourself !!!

But I think You almost have it .... I hope this helps :
Look back at your post 14596. Look at the candles outlined in the white box. The first candle on the left inside the box is a WCC because it closed beyond the low of the candle to it's left (which is outside the box) . It does not need to wait for another candle to confirm it as a WCC. The WCC status happens immediately .
Now look at the the 3 spinning top types of candles inside of the white box. Each of their open and close prices do not extend beyond the range of the first candle in the white box ( the WCC). Therefore they cannot be WCC candles. So the first candle is the WCC for each of those 3 candles. BUT THEN the Red candle happens.

So we have our discussion about the wide range Red weekly candle labeled #1 . It's close is beyond the range of the the last WCC (which was the first candle in the white box). Closing beyond the range of the last WCC makes candle #1 the new WCC . The WCC status happens immediately at the end of the week on Friday. In this case it's close price is beyond the range of the last WCC which confirms it immediately as the NEW WCC .

The following Green weekly candle labeled #2 did not have it's open or closed price exceed the high or low of the last WCC (the red candle) so it cannot be a new WCC. The Red candle continues to be the WCC until it's range is exceeded by the open or close of a Weekly candle in the future. When that happens, that new weekly candle is confirmed immediately and then becomes the new WCC. The fact that it's open or close at the end of the trading week was beyond the previous WCC is the confirming factor that it is the new WCC . The H and L of a WCC can be used as S/R.

I hope this helps
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