dungle's trading framework

You might want to try find a book called "Day Trading With Short Term Price Patterns and Opening Range Breakout" by Tony Crabel.

I've gone through the whole document but some stuff is harder to grasp so I got stumped in few areas. But no worries, with some chart examples and over time it'll all come to light.

Now if you can please post some charts. Thanks!


@Mikkom: Thanks, I'll try to get my hands on it.

Thanks a lot for the docs Dungle. I have read them all, now I am going to study them. Get back to you tommorow, thanks again.
Cheers.

Wow, A guy volunteers his notes from a lot of hard work and he gets thrashed. I like humor too but if you want to trash an often used term then start a new thread rather than high jack.

Serious question though. Dungle, can you explain this:
"HAMMER PAIRS (type A and type D candle combination)
If the hammer pair is to be valid then the wick that follows the close of the type A candle that follows the hammer must be > 0."

I am a little confused with the wording here.
Do you mean the A candle following the hammer should have no wick?

Thanks Dungle. Many of us do appreciate your generosity. Don't let a few others get you down.

sorry that sounded long winded even to me when i wrote it.
basically there should be a wick after the close of the type A candle

Interesting material Dungle and food for thought. I must go back and examine some charts.

Especially enjoyed the reaction to your "put 50% on these trades" and assume you were talking about total capital at your broker with some reasonable leverage not about %risked if your stop was hit.

dungle, to add to porky's post, many of the descriptions in your work sound long-winded and I'm still confused as to what they mean.

Before people start posting charts and start asking you what this or that means, it's better if you just put up a few live charts and point out what you see is happening, with enough practice we'll all see it with you.

Otherwise I don't mind posting the charts....

Thanks Dungle for the work you've put forth. This is all very similar to what I've been throwing together myself and the same applies for me as mentioned by one poster, you've saved me quite a bit of time. I was never thrown by the title but I'm glad you changed it. I could tell the thread's credibility by the first couple of *.doc files. The only time the title threw me was when you changed it and I had to go looking through my subscriptions to find it again, lol.

I haven't posted on any thread in FF for a long time because they usually branch into protracted lines of contentious, petty remarks about political systems, world leaders, other people and so forth, all under the camouflage of "fundamental analysis." I'd like to see this one stay professional and I'll certainly do all I can for it when I'm here. I don't believe it's necessary for me to understand what you've done but if you could send me the missing App. 6 that would be fine. And if you change your address (thread on the forum) please, let me know!

Here's to successful and mutually beneficial endeavors.

I'll bounce back with what everyone else has said. I downloaded the material a couple of days ago and have read most. I've sent it off to a few friends as well. I thought they could benefit from a well written and organized explanation...rather than my incoherent ramblings.

Well done, dungle.

Man, aint that the truth!

dungle are you still active?

thanks dungle for all the hard work u have put into this, but after going through it i found that application 6 calculation is missing , would u be kind enough to post it
thanks

For those active on this thread, I don't think dungle is coming back here again..

But I was wondering how many people would be willing to discuss his work in a live market environment. Meaning how many would be interested in posting charts and commenting on them for collective gain for all who participate...?

If enough people show interest we can start a discussion and start posting live charts.... I'm hoping at least 5 people say yes...

Sounds good, why dont you start... if there is interest others will join in.

Sounds good but I"m only able to post charts after 6:30 pm CST as that's when I get home from work. So I'll be able to post charts/comment on the Asian MO. Anybody else want to volunteer for euro and US open?

Thank You Dungle..

Downloaded the documents from the first few pages at the weekend and after having a quick scan through, it is clear a lot of time and effort has gone into producing this, so many thanks to Dungle for making these documents available for those who are interested in this trading methodology.

I hope this thread continues but it now seems unlikely and a bit pointless if the thread starter has lost interest. I hope very much that Dungle will start another thread to discuss his ideas/thoughts sometime in the future (as I am sure many others do), but maybe next time he will have the foresight to specify the 'ground rules' at the start of the thread and adopt a zero tolerance policy towards the trolls and negativity merchants, as these people have ruined a thread that had so much potential.

I have attached a chart of a demo trade I took today on gbpusd M15 using a setup from Dungles "theory chapter 6" document. I know there is alot wrong with this trade in that it had not broken Fridays low and poor R:R ratio (< 1:1) and it was counter the H4 uptrend, but apart from that, the candle pattern looked ok and price had been trending down since UK open as well as close proximity to a downward sloping trendline on the daily, so I took it ! Hit my profit target at the round number 1.5100 making +43 pips (after spread), probably got lucky as price reversed shortly after hitting my profit target!

I'll read Dungles documents properly over the next few days, in the meantime, I hope others will also contribute to this thread, and hopefully, it will stay alive for a while yet.

Here's another Dungle type setup on EURUSD M30 from this morning. Most text books state that this is a bearish reversal pattern but according to Dungle, if it occurs before a market open, it is a bullish continuation pattern (at least that is my interpretation of the info supplied by Dungle). This demo trade took around two hours to reach profit target at 1.2600 for +59 pips after spread and like yesterdays trade, had almost no drawdown. Not sure if I would have taken this on my live account though as it's at a resistance area on H1 and Daily, also proximity to a downward sloping trendline on Daily, but if these setups have a high success rate, maybe these other factors can be ignored to some degree. Again like yesterday, the R:R would have been slightly worse than 1:1 (SL was at 1.2480 but forgot to indicate this on the chart!).

Hey bluepip, nice to see someone being active on this thread.

There was a similar pattern to what you posted for EURUSD, on EURJPY and GBPJPY, at 8:00 pm last night NY time. I traded both and they were both quite profitable.

I've seen that pattern before and I also call it a continuation pattern if it occurs before an MO. However I did not see on dungle's notes where he referenced that specific pattern, I'd like to read over what dungle wrote, if you could please tell me on what document he talks about that bullish continuation pattern that occurs after a hammer and bearish candle in an uptrend.

I'll be more active on this thread now that I see that I'm not howling into the wind.

P.S. I trade hourly charts only but I look at 15M for confirmation/early entry.

Here's my trades from Wednesday & Thursday that I didnt have time to post at the time.

Wednesdays trade was a EURUSD M15 which also gave the same setup on M30. A manual close on this cost me pips as it would have gone on to hit my target if I had just left it alone! Price got within 6 pips of my target and then started to retrace so I took the +44 pips rather than risk losing it all.



Thursdays trade was a GBPUSD M30 'set & forget' as I was so confident after my three wins in a row and +148 pip gain! If I had been in front of my PC I would have closed this manually on 3rd candle after entry and saved a few pips, instead I took a -45 pip loss!