Islander and Medici trade the European open | Page 307 | Forex Factory

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Islander and Medici trade the European open

  • #6,121
  • Edited 5:52am Jan 11, 2022 3:20am | Edited 5:52am
Good morning. Nice reversal up into last week's range yesterday evening. This morning support at 15600 with a nice H&S on the 1m. My entry at the blue line. This should go up to last week's POC at around 15800 which is also where EMA100@1h resides. But better safe than sorry, so I'll set a limit just above 15700 and go to the gym.

EDIT: Back from the gym. Ka-ching And the target just above 15700 turned out to be a wise decision.
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  • #6,122
  • Jan 26, 2022 3:54am Jan 26, 2022 3:54am
Quoting medici
Good morning. Nice reversal up into last week's range yesterday evening. This morning support at 15600 with a nice H&S on the 1m. My entry at the blue line. This should go up to last week's POC at around 15800 which is also where EMA100@1h resides. But better safe than sorry, so I'll set a limit just above 15700 and go to the gym. EDIT: Back from the gym. Ka-ching And the target just above 15700 turned out to be a wise decision. {image} {image}

Nicely done
Trading Levels with WRBs
  • #6,123
  • Edited 4:42am Jan 26, 2022 3:57am | Edited 4:42am
This morning Dax took off at XO and ran up 187 pts without any pull backs

A great start to the day for those that followed the signal to Buy at XO
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Trading Levels with WRBs
  • #6,124
  • Jan 26, 2022 7:11am Jan 26, 2022 7:11am
Quoting Islander
This morning Dax took off at XO and ran up 187 pts without any pull backs A great start to the day for those that followed the signal to Buy at XO {image}
Nice one, and what a morning Here's my morning trade in NQ - long at 7.26am and out at 9.25am for about 250 points at yesterday's 8pm high This is a 56 tick range bar chart.
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  • #6,125
  • Edited 9:19am Jan 26, 2022 8:26am | Edited 9:19am
Quoting medici
{quote} Nice one, and what a morning Here's my morning trade in NQ - long at 7.26am and out at 9.25am for about 250 points at yesterday's 8pm high This is a 56 tick range bar chart. {image}

Ah, you're back with your range bars

My M1 chart for NQ gave me a buy at 7.29 GMT for 140 pts, then a pull back. Another B at 9.00 for +62 and a 3rd at 9.31 for +45, but harder work!

PS If you remember that work we did together some years ago on market timing - that's what keeps me on time based charts. Its sooo useful
Trading Levels with WRBs
  • #6,126
  • Jan 26, 2022 9:35am Jan 26, 2022 9:35am
NQ 20 seconds chart after first hour since NYO

KISS entries off MA or OB / OS envelopes

I took most of them
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Trading Levels with WRBs
  • #6,127
  • Jan 26, 2022 10:50am Jan 26, 2022 10:50am
Quoting Islander
{quote} Ah, you're back with your range bars
Yes, I use 22 ticks for trading and 56 ticks for "big picture".

Quote
My M1 chart for NQ gave me a buy at 7.29 GMT for 140 pts, then a pull back. Another B at 9.00 for +62 and a 3rd at 9.31 for +45, but harder work!

Sounds like hard work indeed....One of my 1m rules is that the trend/swing isn't over until EMA50 is challenged, which usually will result in a last spurt off said EMA.

Quote
PS If you remember that work we did together some years ago on market timing - that's what keeps me on time based charts. Its sooo useful

How could I forget? Clocks still work even if one is using range bars I have a timer that blips 5 seconds before even minute. Does the trick when trading range bars.
  • #6,128
  • Edited 1:09pm Jan 27, 2022 12:30pm | Edited 1:09pm
Quoting Islander
NQ 20 seconds chart after first hour since NYO KISS entries off MA or OB / OS envelopes I took most of them {image}
Hi islander,

Im going to reply here since you asked me to do so,

Im a bit confused on the first chart you posted on the 26 of january, couple of days ago. I see that you look for big candle spikes that go with the trend.

I see that candles are mark by the atr indicator (which I do not understand how you decide that the level is 20.02 with such precision) and that the candles for up has less wick on the top than on the bottom and the reverse for bearish candles

But then you posted a chart of the 20s chart and the arrows (I understand that you trade the channel reversal and pullbacks to the ema) but then many of the candles are small.

The only thing that I can see is that the candles in both charts that you signal have more wick in the bootom for longs and morte on the top for shorts.

Os: forgot to mention another observation, you always enter for long the first bullish candle after a bearish candle and the reverse for short.

Im looking closely and talking abou the candles that you have marked on booth charts since Im trying to move away from indicators.
I have been studying volume VSA but is very subjective, also I have been looking at PVSRA but I do not like that is not very precise on the entries, I understand the logic but is just not for me.

Then I found you posting on the VSA thread and I liked yuour simplicity that is why Im asking
Sorry if I ask to many questions but I want to learn

Thanks
Kind regards
  • #6,129
  • Jan 28, 2022 2:06am Jan 28, 2022 2:06am
@ Frag8383 thanks for your post which I'll review later.

If you have not read my post at the top of Page 300 please do so as it may answer some of your questions

Regards
Trading Levels with WRBs
  • #6,130
  • Jan 28, 2022 3:19am Jan 28, 2022 3:19am
First hour from XO

The 08:00 GMT candle was a very high volumed WRB that we view as a break down bar.

Price fell more than 150 pts in 21 mins, so a fast deep fall, which ended in the 3rd red WRB at 8:21 which was a high vol WRB and there was NO follow through, so close shorts.

As price was very oversold ( well outside red envelope) and at "a level" a reversal buy was allowed.

Note the green WR at 8:58 on very low vol, as a Lower High at a level, again, no follow through = sell

NB line in ADR reset to 20.00 via indicator properties rather than click & drag. Its just a guide. Template updated
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Trading Levels with WRBs
  • #6,131
  • Edited 8:15am Jan 28, 2022 3:48am | Edited 8:15am
GM chaps Some consolidation after a wild week, and the weekly VWAP shows the way. A quick drop to the first lower band to pick up demand, and now some consolidation/accumulation ahead of continuation north.

After lunch edit: How wrong I was! Up it was going, but not after a trip down to the second VWAP band. It was a good morning nevertheless
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  • #6,132
  • Jan 28, 2022 4:09am Jan 28, 2022 4:09am
@ Frag8383, re your post:

We view the green High Volumed WRB at XO as a break out candle that was above the upward sloping (blue) MA as a Buy. This was confirmed 10mins later by another green H WRB which we view as a continuation candle as again, price immediately continued on up.

The ATR set to 1 is an easy way to see candle size and the horizontal line can e adjusted to current market action. It is an Alert to look at the PA that follows it and thus the "S" part of Tom William's VSA methodology which we use in a modified format adapted to our intra day trading on M1 & S20 charts

The MA and Envelopes are to enable subjective trading rules - viz " always trade in the direction (colour) of the MA" "Reversal trades allowed after a spike outside an envelope if ~ A Level" Note that we use Tom's "Bushy Hedged" version of Levels

Years ago I was very active with Malcolm in his VSA thread and later with Hidden Gap. For a better understanding of WRBs it is worthwhile reading all of HGs posts, there are many "Hidden" gems!

Regards
Trading Levels with WRBs
  • #6,133
  • Jan 29, 2022 8:59am Jan 29, 2022 8:59am
Our aim is to spend as little time as needed in front of a monitor watching the PA.....and after 30,000+ hours each of doing just that, we feel that we now know a bit about market timing

This chart is for the first 2 hours of Nasdaq from the NYSE Open.

Our pre-open work on the higher Time Frames had again confirmed the Supply Zone under the 13,900 BRN and we also had some Timing Zones and thus a good idea of "where & when" to look for buying opportunities.

The highest volume since NYO was at 15:01-2 in a small spinning top which was immediately followed by the 2nd widest candle since NYO. Both of these happened after 20 minutes of high activity in a narrow range, so typical of SM working hard to fill their orders.

At 15:09 the green ~ Marubozo was the Widest Range so far and was the breakout candle. Typically, as it was a low/zero print bar in Market Statistic terminology, it was revisited before the 300+ rally towards the end of the 2nd hour of trading......more than sufficient for a Friday afternoon
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Trading Levels with WRBs
  • #6,134
  • Edited Jan 31, 2022 2:40am Jan 30, 2022 5:32am | Edited Jan 31, 2022 2:40am
Quoting Islander
@ Frag8383, re your post: We view the green High Volumed WRB at XO as a break out candle that was above the upward sloping (blue) MA as a Buy. This was confirmed 10mins later by another green H WRB which we view as a continuation candle as again, price immediately continued on up. The ATR set to 1 is an easy way to see candle size and the horizontal line can e adjusted to current market action. It is an Alert to look at the PA that follows it and thus the "S" part of Tom William's VSA methodology which we use in a modified format adapted to our...
Hi Islander, thanks for your help,

I have not reply because Im studying your charts,
What I have seen is that you have an ability to spot WRB bars that either will make the price continue or a trend change.

I have always avoided those type of bars because, many times when I see a pullback and then get in with a WRB i get caught and then the trend reverses on me. To me is like 50/50.

What I see is that you are able to differentiate between the ones that are going to continuo and the ones that mean reversal

Thanks
Kind regards

edited: I said get out when I meant get in
  • #6,135
  • Edited 2:14am Jan 31, 2022 1:54am | Edited 2:14am
You're welcome.

Basically we use the ATR 1 as an alert / reminder to look at what happens next. Levels & timing come into the process
Trading Levels with WRBs
  • #6,136
  • Feb 1, 2022 2:40am Feb 1, 2022 2:40am
Great move in Dax from XO of 125+ and no signs yet that its finished....
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Trading Levels with WRBs
  • #6,137
  • Feb 1, 2022 4:04am Feb 1, 2022 4:04am
Dax hit its envelope and stalled in 5 small candles that FAILED to reach its 15,700 BRN.

2 x Lower Highs followed telling us to Sell and price made a 100% + retrace, a round trip of 250+ points
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Trading Levels with WRBs
  • #6,138
  • Feb 1, 2022 8:29am Feb 1, 2022 8:29am
DAX 1 mn
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  • #6,139
  • Feb 1, 2022 9:38am Feb 1, 2022 9:38am
Hi Parisboy, thanks for your chart
Trading Levels with WRBs
  • #6,140
  • Feb 1, 2022 10:55am Feb 1, 2022 10:55am
DAX 5 mn
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