{quote} Very true. I would likely mess up trading in FOREX Pairs, but found my winning game (eyes) in Indexes.
Hi Dutchy, thank's for posting, I like to see WRBs ( on 1 min + TFs ) - your single prints....M's not keen
Trading Levels with WRBs
Islander and Medici trade the European open
- #6,802
- Jan 17, 2024 10:55am Jan 17, 2024 10:55am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
There was a fake out poke up to the SS also S 1 at the New Yotk Open, then it was sell all the way for 1 150 pts fall 
Then a retrace to the fib 38.2% area and some consolidation before a run up to the 62% (fib 61,8) area
Another pull back and then a push up to the 78% & yesterday's Low
Finally a slow grind up which failed just below its earlier high
Thus the main moves were; -150, +65, -35, +65 & +60.....hope you got plenty
Then a retrace to the fib 38.2% area and some consolidation before a run up to the 62% (fib 61,8) area
Another pull back and then a push up to the 78% & yesterday's Low
Finally a slow grind up which failed just below its earlier high
Thus the main moves were; -150, +65, -35, +65 & +60.....hope you got plenty
Trading Levels with WRBs
- #6,804
- Jan 17, 2024 4:30pm Jan 17, 2024 4:30pm
- Joined Nov 2008 | Status: Trader | 3,270 Posts
My 2 cents on todays Nasdaq action: Marked the two trades i liked most with a green arrow (its a CFD tick chart fyi). We opened outside yday RTH Low and then pushed down strong. Short after the pb was a high propability setup for me. The long at the 2nd arrow was imo a quick move down to the VPOC, then rejection. Jim Dalton, one of the experts in Market profile, likes to say: sometimes a market has to break before it can rally. Thats what it looked like to me, so long made sense after price started moving up again. {image}
Beautiful tick chart
Mine in return. To entertain myself I traded the 30 second chart today. Will be back to health tomorrow 
Thank you for sharing!
- #6,807
- Jan 18, 2024 3:40am Jan 18, 2024 3:40am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
{quote} Break before rally - that's what I thought too, but I didn't have the patience to hang on until the rally which didn't start until 7pm UK time. This was a break below an obvious level for market makers to get some juicy liquidity from stops to buy into. See 1h chart. Beautiful tick chart
As Dax was pretty slow this morning i wanted to dive into the Stoch RSI you showed in your picture as it looks pretty good and im trying to incoroprate an oscillator for a while now, but havent found sth that feels right yet. If its not too much to ask, could share your setting of it?
- #6,809
- Jan 18, 2024 6:22am Jan 18, 2024 6:22am
- Joined Nov 2008 | Status: Trader | 3,270 Posts
{quote} Thx Medici, a big part is what i learned from you. What you showed on the H1 chart really examplifies the 'break before rally' idea, i was transferring it to the low timeframe: strong move up, then sideways (=possibly getting too long), liquidation move lower, then continue up. Maybe thats whats playing out in the big picture too, we'll see.
i wanted to dive into the Stoch RSI you showed in your picture as it looks pretty good and im trying to incoroprate an oscillator for a while now, but havent found sth that feels right yet. If its not too much to ask, could share your setting of it?
It's a 100 period Stoch RSI, where 100 is also the period of my red channel EMA, which corresponds to your red channel MA.
I would imagine that CCI could be interesting too, depending on one's tastes. I know some people use it to their satisfaction with tick charts. In my context I'd start exploring periods in the range of 20-50 to look for something workable.
What's your tick count per candle? Mine is 700.
{quote}
Imma play with it and also have a look at the CCI, i feel like i need a bit more objectivity in my entries and therefore a osci might be a solution i thought.
My chart is 420 Ticks but its the FXCM CFD for Nasdaq, red MA is 89 EMA.
You still trade Nasdaq in the morning instead of Dax? Dax is often very tough, tried Oil but spread for CFD is 3-4 pts with my broker.
Good US session y'all
- #6,814
- Jan 18, 2024 5:11pm Jan 18, 2024 5:11pm
- Joined Aug 2014 | Status: Trader | 85,167 Posts
Are you guys trading on *real* futures accounts? Do you see every transaction on the charts? The forex/cfd charts can be deceiving
But frankly I never understood how to trade with the volumes, as you can see most of the volumes happen at 9CET candle and into the 17:30CET close.
instead what I find really interesting is the anchored VWAP starting 9CET (red line on the chart attached).
P.S.: altough I trade in different way, I appreciate the genuine spirit and the content of this great thread supporting and helping most traders here.
I call upon my father's spirit , watching over me
- #6,815
- Jan 19, 2024 12:46am Jan 19, 2024 12:46am
With such as measly afternoon, I stayed on for the evening session and a 135 point ride up to a new high. It will probably continue, but enough for today. {image}
What i saw yday at start: we opened with a substantial gap up, that can lead to a phase of uncertainty as the market needs to make sense of it or just stay where it is the whole day. What i got a bit too fixated on (and i think some others too) was the Globex VWAP coming from below and a retest to it was like a carrot imo. Price dropped, only for the Open to turn it before reaching VWAP and then grinded higher crushing the early shorts. Then my charting software had data issues so my charts got messed up and i called it a day. All in all the H1 story unfolded like u said.
- #6,816
- Jan 19, 2024 5:21am Jan 19, 2024 5:21am
- Joined Nov 2008 | Status: Trader | 3,270 Posts
{quote} not too shabby
- #6,817
- Edited 6:49am Jan 19, 2024 5:31am | Edited 6:49am
- Joined Nov 2008 | Status: Trader | 3,270 Posts
{quote} not too shabby
Below the 5pm reversal down, and subsequent 6.30 reversal up, using this setup. Thoughts on that?
- #6,818
- Edited 7:22am Jan 19, 2024 7:05am | Edited 7:22am
{quote} Btw, an alternate way to play the tick chart is to use a slightly slower SMA instead of the fast EMA, and to use the corresponding Bollinger bands instead of an oscillator. On my 700 tick chart it would with period 40, so perhaps 35 on your chart. In practice I've found that SMA50 works better, but that Boll40 are the right bands. Maybe you'll find the same. Below the 5pm reversal down, and subsequent 6.30 reversal up, using this setup. Thoughts on that? {image}
On to the SMA BB: on the first glimps im not sure how to read it so it can replace an oscillator. In the green circles are the 5pm regime chg and your long entry shown before. So its when the other parameters indicate a move in certain direction is about to happen u wait for price to establish on the favored side of the central SMA while some sort of BB squeeze is happening?
Definitely another note on my research list. But how do i tell wifey that id like to sit in front of my computer the whole weekend?
- #6,819
- Edited 7:41am Jan 19, 2024 7:27am | Edited 7:41am
- Joined Nov 2008 | Status: Trader | 3,270 Posts
{quote} Man its getting uncomfortable always saying thanks, but i dont know how to express it any other way! Funny enough the EMA40 i just added on my M30 Charts last weekend, but the percentage envelopes give it a nice other dimension, even on Dax
With the SMA, it's about slope/direction. Pullbacks across sets up continuation, for example. And change of direction sets up reversal. See the 5pm reversal down yesterday.
