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DislikedHere is an example of how range bars can simplify trading. This chart shows 30 pip range bars on the euro for the last 8 hours.
The move up today was already known in advance since there was a daily open above the dp. This chart gave 2 possible entries on the 30 pip lows at 1.2210 and 1.2226, then it moved to the daily highs. Since then it has been consolidating in 30 pip ranges. This consolidation in 30 pip ranges is very common in the asian session.
As a note I knew that the move was up for today bc on Thursday and Friday, if there is a...Ignored
DislikedThursday maybe the day where the next down move in indicies begins. I have sell orders at 1111 with stops at 1122. target is 1022 during June and 970 as a final target.
Only thing is I'm not sure how this fits in with currencies as I still see au another 100 pips higher and eu potentially another 200-300 pips higher. I would prefer it they all matched up timing wise.Ignored
DislikedNice retrace on au last night, still holding my longs and looking for a move higher on Friday. It looks like there is going to be a lot of resistance around 8514 but as long as the S&P still has a higher move to make I will continue to hold.Ignored
DislikedHi amyc,
I was able to set-up the range bar last night the r80-r140-D and have the same chart as yours.
When AU hit the midpoint which is also the weekly PP, is that also a good entry to go long?Ignored
DislikedHi epeks
Everything has to be taken in the overall context of the market, if you are looking for price to move up into weekly highs or monthly highs etc then that was an ideal place to go long. So since I am looking for price to move to weekly highs still this week then it was a good long.
But if you had of got that setup when price was trying to move to the weekly lows then I would have passed on it.Ignored
DislikedThanks, amyc.
Correct me if i'm wronng....
Since price opened higher than the weekly pivot, the price will be trying to test the weekly high. We should be looking only for long opportunities unless there is 4HR close under the weekly pivot?Ignored
DislikedI know exactly how you feel. ugggg. Good luck though and great analysisIgnored