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Trading TheStrat / Rob Smith's Method

  • #61
  • Feb 14, 2024 9:31am Feb 14, 2024 9:31am
Quoting TerryDawe
{quote} Started a new broadening pattern on the weekly and daily 2 1 2 reversal hit target of bottom of broadening pattern. Once target hit, daily inside candle (1) now in formation so no trading until it is complete. At time of your analysis at end of the week time frames were green but at the start of this week all turned red so need to start looking for short. That signal was provided with the 2 1 2 reversal. Not sure if you have followed Strat Soldier at all but he always emphasizes using colored candles, buy green, sell red so colors for me...
Just noticing that the lower Broadening line is also at the current M and W lows .. best seen on the D and W.
  • #62
  • Edited 5:46pm Feb 14, 2024 5:17pm | Edited 5:46pm
Quoting TerryDawe
{quote} Started a new broadening pattern on the weekly and daily 2 1 2 reversal hit target of bottom of broadening pattern. Once target hit, daily inside candle (1) now in formation so no trading until it is complete. At time of your analysis at end of the week time frames were green but at the start of this week all turned red so need to start looking for short. That signal was provided with the 2 1 2 reversal. Not sure if you have followed Strat Soldier at all but he always emphasizes using colored candles, buy green, sell red so colors for me...
Hi Terry

Thanks for your post, yes, NU changed bias this week for sure. Currently we have conflict between Monthly, Weekly (down) against the LTFs which are up. Any trades taken to the upside must be done so with caution, knowing that the Monthly & Weekly rule, and price may change to downwards with aggression at any time.

Also I have taken on board your thoughts re candle colour, and incorporated Zennie's excellent TheStrat MT4 indicator, shared recently. Thanks Zennie!

MantisClaw
Attached Image (click to enlarge)
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We don't see things as they are - we see things as we are.
  • #63
  • Feb 14, 2024 5:29pm Feb 14, 2024 5:29pm
Quoting TerryDawe
{quote} Started a new broadening pattern on the weekly and daily 2 1 2 reversal hit target of bottom of broadening pattern. Once target hit, daily inside candle (1) now in formation so no trading until it is complete. At time of your analysis at end of the week time frames were green but at the start of this week all turned red so need to start looking for short. That signal was provided with the 2 1 2 reversal. Not sure if you have followed Strat Soldier at all but he always emphasizes using colored candles, buy green, sell red so colors for me...
Thanks Terry for mentioning The Strat Soldier, I have looked at his material a bit before, but on your recommendation I had a deeper look and found some great videos. In particular, there are some short (under 10 minute) gems from Rob Smith on various topics, like how to trade the mother bar, the Rev Strat, how many Broadening Formations should you have, and so on. Really useful and more advanced material there. https://www.youtube.com/@SepiaGroup/videos

MantisClaw
We don't see things as they are - we see things as we are.
  • #64
  • Feb 14, 2024 5:39pm Feb 14, 2024 5:39pm
Thanks for the link, greatly appreciated..
  • #65
  • Feb 14, 2024 8:21pm Feb 14, 2024 8:21pm
Quoting Zennie
My indicator for MT4 {image} {file}
Thanks for that MT4 indicator
  • #66
  • Feb 15, 2024 1:26am Feb 15, 2024 1:26am
Gold traders are frustrated right now since that CPI news making USD stronger, patience...

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It takes a lot for me to IGNORE you, but you can try.
  • #67
  • Feb 15, 2024 2:23am Feb 15, 2024 2:23am
Quoting Erebus
Gold traders are frustrated right now since that CPI news making USD stronger, patience... {image}
wow that looks like some serious accumulation going on there, can't wait for the eventual breakout/down!
We don't see things as they are - we see things as we are.
  • #68
  • Feb 15, 2024 2:44am Feb 15, 2024 2:44am
Correct me if I'm wrong but isn't this "strategy" the very simple 123 pattern? Am I missing something?
  • #69
  • Feb 15, 2024 10:54am Feb 15, 2024 10:54am
Quoting Fagin
Correct me if I'm wrong but isn't this "strategy" the very simple 123 pattern? Am I missing something?
NOT..................
  • #70
  • Feb 15, 2024 1:01pm Feb 15, 2024 1:01pm
Quoting sonicvista12
{quote} wow that looks like some serious accumulation going on there, can't wait for the eventual breakout/down!
It did make some recovery on the recent drop, probably profit taking, and also USD related.

I watch them together, as long as they are above & below their respective daily open, seems "safer" direction to scalp!

The white candles are the Retail Sales news, you can see the sessions there.

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It takes a lot for me to IGNORE you, but you can try.
  • #71
  • Feb 15, 2024 7:37pm Feb 15, 2024 7:37pm
One thing mentioned in those STRAT videos is HTF, higher time frame for noobs, and are they in alignment with each other.

I think they are for Gold, Yearly, Monthly, Weekly, and Daily as long as it stays below 2004.

Another PA, price action, I can see on this daily chart is breakout and retest.

Looking for a huge, strength move by USD to finish the week, make a million by selling Gold, who's with me?

There is one more high impact news driver about 12-hours from now.

Disclaimer, as with all things trading. anything can happen!

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It takes a lot for me to IGNORE you, but you can try.
  • #72
  • Feb 16, 2024 9:17am Feb 16, 2024 9:17am
Quoting Erebus
{quote} I'm laughing as I study this pattern, 2-1-3 ?? I cannot find it on any of the published cheat sheets, complete guides, or Google images that I searched for. Sure, there is 2-2, 2-1-1, 2-1-2, 2-2-2, with usual bearish & bullish parameters of course. But I challenge you to show me the 2-1-3 published patterns, thanks. That said, I did find one, not saying it doesn't work, but go ahead, cancel me {image}
This is a one bar rev strat as shown on one of the cheat sheets
  • #73
  • Edited 12:11pm Feb 16, 2024 11:57am | Edited 12:11pm
Quoting Erebus
One thing mentioned in those STRAT videos is HTF, higher time frame for noobs, and are they in alignment with each other. I think they are for Gold, Yearly, Monthly, Weekly, and Daily as long as it stays below 2004. Another PA, price action, I can see on this daily chart is breakout and retest. Looking for a huge, strength move by USD to finish the week, make a million by selling Gold, who's with me? There is one more high impact news driver about 12-hours from now. Disclaimer, as with all things trading. anything can happen! {image}
Even though higher time frames are red, we have short term corrective action this week on dailies. Year and Quarter are red but inside candles..
Even though counter trend, hammer in force from Wednesday. So if longer term we are going down, not quite ready yet.
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  • #74
  • Feb 16, 2024 12:20pm Feb 16, 2024 12:20pm
TheStrat indicator + source. Free to customise for your personal use
Attached File(s)
File Type: ex4 TheStrat.ex4   10 KB | 330 downloads
File Type: mq4 TheStrat.mq4   7 KB | 409 downloads
  • #75
  • Feb 16, 2024 4:15pm Feb 16, 2024 4:15pm
Quoting TerryDawe
{quote} This is a one bar rev strat as shown on one of the cheat sheets
Yes, that is what I came to realize, after being misled by the OP saying it was 2-1-3.

However, it is still not a sure-fire trade, as anyone that has ever traded any Inside Bar.

The cheat sheet clearly shows by entering in one direction only to be trapped when it fully reversed.

And they are labelled Bearish and Bullish without the full context of previous price action; how are we to know that?

This is what is glossed over by any video or cheat sheet, which are clearly hindsight observations, more misleading IMHO.

The whole candle numbering method is just a diversion, all hindsight, there needs to be a non-cheat sheet with the last candle with no number, pure setups only.

In fact, I think we are about 2-years late to this method as there are no recent videos with claims of success.

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It takes a lot for me to IGNORE you, but you can try.
  • #76
  • Feb 16, 2024 4:21pm Feb 16, 2024 4:21pm
Quoting TerryDawe
{quote} Even though higher time frames are red, we have short term corrective action this week on dailies. Year and Quarter are red but inside candles.. Even though counter trend, hammer in force from Wednesday. So if longer term we are going down, not quite ready yet. {image} {image}
Exactly correct, and when it does drop, I'll be short below the daily open, thanks.
It takes a lot for me to IGNORE you, but you can try.
  • #77
  • Feb 17, 2024 9:17pm Feb 17, 2024 9:17pm
Quoting vidvad
Here's a video by Strat soldier who worked side by side with Rob Smith for a couple of years before Rob's sudden death and he practices the strat as Rob taught it. I'd recommend putting this on your weekly watchlist if you're trying to understand how to implement the strat as it was intended to be implemented. The Weekend Shift 17 FEB 24 (youtube.com) https://www.youtube.com/watch?v=0LPS...heStratSoldier
It seems like some just troll threads and try to discredit them for some unknown reason. Not sure why but eventually they move on to new territory.
  • #78
  • Feb 18, 2024 7:36am Feb 18, 2024 7:36am
Quoting Lou
{quote} Well I didn't find anything in this video that was helpful. Once I started watching he was talking about stocks. This Thread is on Forex Factory. I know the Strat should work on all instruments.. But I prefer to see FX so I can compare the video info to my Forex charts. ( maybe there was a Forex section that I missed.. since I started skipping ahead but I kept landing on stock discussions). Neither did I see any insights into trading TheStrat

The Strat is a technique that was devloped by a stock trader. It can be applied to other instruments, including forex. For purposes of learning how to use the strat, the video is useful and the instruments discussed do not matter.

Again, I was trying to be helpful and was not trolling. I have deleted the post.

Good luck and best to your thread.
Life itself is a privilege, but to live life to the fullest is a choice
  • #79
  • Feb 18, 2024 9:52am Feb 18, 2024 9:52am
Quoting vidvad
{quote} The Strat is a technique that was devloped by a stock trader. It can be applied to other instruments, including forex. For purposes of learning how to use the strat, the video is useful and the instruments discussed do not matter. Again, I was trying to be helpful and was not trolling. I have deleted the post. Good luck and best to your thread.
Thank you.. that will help. I should have emphasized and pointed out that there wasn't any use of theStrat shown in the video. Yes indeed the method was first used and developed on stocks.
Hope you keep helping the traders here.
  • #80
  • Feb 18, 2024 1:12pm Feb 18, 2024 1:12pm
Quoting Erebus
{quote} Yes, that is what I came to realize, after being misled by the OP saying it was 2-1-3. However, it is still not a sure-fire trade, as anyone that has ever traded any Inside Bar. The cheat sheet clearly shows by entering in one direction only to be trapped when it fully reversed. And they are labelled Bearish and Bullish without the full context of previous price action; how are we to know that? This is what is glossed over by any video or cheat sheet, which are clearly hindsight observations, more misleading IMHO. The whole candle numbering...
Probably timely for you to move on to other threads to correct them on their inaccuracies rather than embracing a strategy and participating then.
Good luck on your journey.
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