Islander and Medici trade the European open | Page 303 | Forex Factory

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Islander and Medici trade the European open

  • #6,041
  • Nov 23, 2021 3:58am Nov 23, 2021 3:58am
Nas had another sharp fall of 230 pts later in the US session down 400 pts from its new ATH

Now its down at 16,300 which is the 618 level on my hourly chart
Trading Levels with WRBs
  • #6,042
  • Nov 23, 2021 4:07am Nov 23, 2021 4:07am
Whilst Dax has not been as volatile as Nas, it did start the day with a 100+ fall from yesterday's Low, all before XO

Then from XO a nice 130 pts fall before the failed poke below the S3 level at 9:08 suggested a halt to the down move and a change to buying for a retrace with the fib 382 as my first target
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #6,043
  • Nov 23, 2021 4:22am Nov 23, 2021 4:22am
Price has just hit the 618 retrace in a nice wrb that was the m1 high - I banked a nice 39.6 pts
Trading Levels with WRBs
  • #6,044
  • Nov 23, 2021 4:28am Nov 23, 2021 4:28am
Attached Image (click to enlarge)
Click to Enlarge Name: nov23 dax s20 1025.png Size: 30 KB
Trading Levels with WRBs
  • #6,045
  • Dec 13, 2021 5:23am Dec 13, 2021 5:23am
Really clear signals this morning
Attached Image (click to enlarge)
Click to Enlarge Name: de13 dax m1 1011.png Size: 47 KB
Trading Levels with WRBs
  • #6,046
  • Dec 16, 2021 3:10am Dec 16, 2021 3:10am
Whilst I studied VSA with Tom Williams at his home in the UK and its application in trading individual Stocks, I have adapted what I learned from Tom to my short term trading of Stock Market Indices, especially the Dax 40 in the mornings and the Nasdaq in the afternoons.

This 1 min chart of this morning's action on Dax shows the use of the Spread part of VSA
Attached Image (click to enlarge)
Click to Enlarge Name: dec16 dax m1 0903.png Size: 40 KB
Trading Levels with WRBs
  • #6,047
  • Dec 16, 2021 4:42am Dec 16, 2021 4:42am
Quoting Islander
Whilst I studied VSA with Tom Williams at his home in the UK and its application in trading individual Stocks, I have adapted what I learned from Tom to my short term trading of Stock Market Indices, especially the Dax 40 in the mornings and the Nasdaq in the afternoons. This 1 min chart of this morning's action on Dax shows the use of the Spread part of VSA {image}
Less than 1 hour after 9CET......worth the remaining 7/8 hours in front of the screen!
Outstanding!
I call upon my father's spirit , watching over me
  • #6,048
  • Dec 16, 2021 4:52am Dec 16, 2021 4:52am
Quoting Brixen
{quote} Less than 1 hour after 9CET......worth the remaining 7/8 hours in front of the screen! Outstanding!
Thanks for passing by & posting
Trading Levels with WRBs
  • #6,049
  • Edited 10:57am Dec 16, 2021 10:42am | Edited 10:57am
Nice action this afternoon in Nasdq here on my M 1 chart

No 1 The High Vol poke above the red MA was in a bearish Spinning Top - Sell

No2 Another poke above the red MA was followed by a Wide Ranged Red bearish engulfer - Sell

No 3 Price held twice at the confluence of the BRN, 50% retrace & Daily Piot and was followed by a Green Wide Ranged Bullish Engulfer - Buy

No 4 Price retraced 38.2% of its fall at the next BRN & then had a Red Bearish Engulfer - Sell

Now price has fallen to the 61.8% retrace, just above the important 16,000 BRN Will this area hold??

TWT

Edit: Sufficient for me, banked a good load of green pips and I need a Coronita
Attached Image (click to enlarge)
Click to Enlarge Name: de16 nas m1 1627.png Size: 40 KB
Trading Levels with WRBs
  • #6,050
  • Dec 17, 2021 5:50am Dec 17, 2021 5:50am
From my previous post: "Now price has fallen to the 61.8% retrace, just above the important 16,000 BRN Will this area hold??"

An hour and a half later, Nas was down to 15,900 and three and a half hours later touched the 15,800 BRN

This morning, 15 mins after Dax's XO Nas poked down to its 15,700 BRN, so briefly under Tuesday & Wednesday's Lows ~ 15,750. a fall of 750 pts from yesterday's high - some Move!
Trading Levels with WRBs
  • #6,051
  • Dec 22, 2021 3:26am Dec 22, 2021 3:26am
Nas gave us some nice moves yesterday afternoon....first was the fall of 180 pts, then the retrace into the European closes.....after which a further 200 pts rally
Attached Image (click to enlarge)
Click to Enlarge Name: dec 21 nas m1 1706 posting.png Size: 96 KB
Trading Levels with WRBs
  • #6,052
  • Dec 22, 2021 3:46am Dec 22, 2021 3:46am
Quoting Islander
Nas gave us some nice moves yesterday afternoon....first was the fall of 180 pts, then the retrace into the European closes.....after which a further 200 pts rally {image}
Not so much volume on the upside on last rise, am I wrong? I mean 700>830
I call upon my father's spirit , watching over me
  • #6,053
  • Dec 22, 2021 4:07am Dec 22, 2021 4:07am
Quoting Brixen
{quote} Not so much volume on the upside on last rise, am I wrong? I mean 700>830

Hi Brixen, that's correct. Once the Big Boys had filled their Buy Orders in the first hour after the cash Open of the New York Stock Exchange at 14:30 chart time Nas continued on up with little effort (volume) until after the low volumed profit taking in the grey area at #9, when there was more buying in those green WRBs at #10.

There was still plenty of momentum from the early buying and price continued on up another 200 pts from the end of my posted chart.

Classic action as per Newton's First Law of Motion
Trading Levels with WRBs
  • #6,054
  • Dec 22, 2021 4:14am Dec 22, 2021 4:14am
Here's my M5 chart showing the earlier M1 post blue time line at 14:30 (GMT) until grey TL at 17:00 and the follow on rally into the high at 20:00 (GMT)

After such a strong rally up to the 50% retrace on my M60 chart I will not be surprised to see a quieter afternoon today

As always, TWT and we will just follow the signal off our M1 & S20 charts and take what the BBs offer
Attached Image (click to enlarge)
Click to Enlarge Name: dec21 nas m5 cls.png Size: 36 KB
Trading Levels with WRBs
  • #6,055
  • Dec 22, 2021 4:16am Dec 22, 2021 4:16am
Quoting Islander
{quote} Hi Brixen, that's correct. Once the Big Boys had filled their Buy Orders in the first hour after the cash Open of the New York Stock Exchange at 14:30 chart time Nas continued on up with little effort (volume) until after the low volumed profit taking in the grey area at #9, when there was more buying in those green WRBs at #10. There was still plenty of momentum from the early buying and price continued on up another 200 pts from the end of my posted chart. Classic action as per Newton's First Law of Motion
Thanks for your point of view.

Yes, 1st law of motion respected, specially if this law is following the direction expected by BigBoys.......

I guess there's so much liquidity in the markets as ever (last days nearly 100k contracts for FDAX, more than 50/70k for FDXM and record volumes even for small MICRO DAF Futures, for instance) that volume concept probably is loosing a little bit his ancient value.

And often markets move strong up or down, even with lees volume than usual, as everything is relative ......and as showed on rollercoaster day trades on August and during XMAS days last years.
I call upon my father's spirit , watching over me
  • #6,056
  • Dec 22, 2021 4:34am Dec 22, 2021 4:34am
Dax M1 chart, we put on a Grey Rectangle when price trades in a range of ~ 50 pts or less as a reminder to lower our expectations of larger - more normal - moves

Note the Very Low volumes & the absence of WRBs
Attached Image (click to enlarge)
Click to Enlarge Name: dec22 dax m1 1030.png Size: 47 KB
Trading Levels with WRBs
  • #6,057
  • Dec 22, 2021 11:44am Dec 22, 2021 11:44am
Quoting Islander
Nas gave us some nice moves yesterday afternoon....first was the fall of 180 pts, then the retrace into the European closes.....after which a further 200 pts rally {image}
Hi islander

I see that you have changed completely the way you trade from the beginning of the thread

From where should I read to learn more about your way of trading
I'm specially interested in how do you exit the trades

I trade with market structure and confirmation of moving averages my entry's are ok, but I struggle with my exits I currently exit with take profit 2:1 and is working because the risk reward works I have a very high success rate but I don't have reasons for exiting the market other than take profit is hit. Is ok for me but I will like to have reasons like because this or that is happening not because I want to get a 2:1 and that it all the reason I have. The market does not go from one place to other because I want to get a 2:1

Thank
Kind regards
  • #6,058
  • Dec 31, 2021 6:09am Dec 31, 2021 6:09am
Quoting Frag8383
{quote} Hi islander I see that you have changed completely the way you trade from the beginning of the thread From where should I read to learn more about your way of trading I'm specially interested in how do you exit the trades I trade with market structure and confirmation of moving averages my entry's are ok, but I struggle with my exits I currently exit with take profit 2:1 and is working because the risk reward works I have a very high success rate but I don't have reasons for exiting the market other than take profit is hit. Is ok for me...
Good Morning Frag

Yes, in the nearly 12 years since Medici & I started this thread our trading styles have changed!, the main change being that we both now concentrate on Stock Market Indices.

If you look at the first post on Page 300 you will find my updated ideas posted on 3rd August 2020, so some 18 months ago and which are still in use today by me and several others in our small online chat.

Best for 2022, to you and all who take a look here

Islander
Trading Levels with WRBs
  • #6,059
  • Jan 3, 2022 2:59am Jan 3, 2022 2:59am
Dax has given us a great start to 2022 with a 150+ pts swing which started before XO and ran straight up to hit our KWOz Price Projection off my Hourly chart from December 21 at 16,045.

Note that I had to reset my envelopes to 0.45% from their normal 0.25%
Attached Image (click to enlarge)
Click to Enlarge Name: jan3 dax m1 0850.png Size: 36 KB
Trading Levels with WRBs
  • #6,060
  • Jan 3, 2022 4:41am Jan 3, 2022 4:41am
Pulling Fibs over the range allowed us to look for potential pull back areas, the first ~ the 382 retrace into the green continuation WRB at 8:13 gmt, a nice confluence of areas, both are in the Bushy Hedge around the BRN. This is a phrase used often by Tom Williams to denote an area rather than an exact level

Buy the Higher Low and wait to see how far the swing will go, trailing a Stop Loss (currently at +20 pts) to protect unrealised profits. The area around the next BRN would be nice

With the European lunchtime approaching, the current very low volumes may continue until the early US Traders get to their screens.

After lunch, if its still open, I will close this trade and change to trading the Nasdaq 100
Attached Image (click to enlarge)
Click to Enlarge Name: jan3 dax m1 1027.png Size: 45 KB
Trading Levels with WRBs
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