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RANGE Breaker Method

  • #161
  • Aug 25, 2011 7:03am Aug 25, 2011 7:03am
Thanks for sharing Razorman, I have been trading Macd divergence for 6 months, I like the way you use the 5 minute charts, awesome stuff
  • #162
  • Aug 25, 2011 7:39am Aug 25, 2011 7:39am
Would you be so kind to elaborate the role of the position of the RSI curve, I mean above 70 or below 30, between 30-70, if it matters at all?

Do you place market or stop orders?

If a setup occurs, you initiate your trade on the brake of the previous bar if I got it right.
In this case, if the actual bar fails to brake the previous bar, does this cancels the setup, i.e. you won’t initiate the trade at a later bar at the same previous brake level? So for example, if the bar brakes only on the second next bar, do you open the trade?


Arpad
  • #163
  • Aug 25, 2011 7:47am Aug 25, 2011 7:47am
RSI is only used for divergence, the actual value of rsi does not matter.

I enter with buy or sell stop when the signal bar breaks.

If the signal bar is broken on the other end then the stop order is canceled.


Quoting Arpi75
Would you be so kind to elaborate the role of the position of the RSI curve, I mean above 70 or below 30, between 30-70, if it matters at all?

Do you place market or stop orders?

If a setup occurs, you initiate your trade on the brake of the previous bar if I got it right.
[font=Arial]In this case, if the actual bar fails to brake the previous bar, does this cancels the setup, i.e. you won’t initiate the trade at a later bar at the same previous brake level? So for example, if the bar...
  • #164
  • Aug 25, 2011 8:06am Aug 25, 2011 8:06am
89t cl long for 13 ticks. I got in the first trade short, but didnt hold it...not smart. John Carter says...think before you get in the trade not while you are in it. When you are in the trade you cant think clearly...so true...
Attached Image (click to enlarge)
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  • #165
  • Edited 8:45am Aug 25, 2011 8:13am | Edited 8:45am
Hey trippenlatin. You are drawing the divergence wrong. You are looking for price to make lower low and rsi to make higher low. See the screen.
Attached Image (click to enlarge)
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  • #166
  • Aug 25, 2011 8:14am Aug 25, 2011 8:14am
Hi Trippenlatin

Curious are those NinjaTrader charts your running? If so whose data feed?

Nice "crude" shots
Master your Mind,,,Master the Market
  • #167
  • Aug 25, 2011 8:29am Aug 25, 2011 8:29am
Ninja Trader has great options when it comes to charting. You can do tick charts of any size, volume charts. Just about anything you can think of.
  • #168
  • Aug 25, 2011 8:39am Aug 25, 2011 8:39am
Here was a nice short
Attached Image (click to enlarge)
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  • #169
  • Aug 25, 2011 8:40am Aug 25, 2011 8:40am
hi Razorman,

You meant "Price closes make a lower low while RSI makes a higher low"
two posts ago.

Herty
  • #170
  • Aug 25, 2011 8:42am Aug 25, 2011 8:42am
Quoting bluesteele
Hi Trippenlatin

Curious are those NinjaTrader charts your running? If so whose data feed?

Nice "crude" shots
Yes this is NT and I use esignal to feed it...not the best feed when inventories come out...but it is fine most of the time. Ninja has a ton of cool features... Big Mikes is a great site to learn about NT and get free indicators.
  • #171
  • Aug 25, 2011 8:44am Aug 25, 2011 8:44am
Quoting Razorman
Hey trippenlatin. You are drawing the divergence wrong. You are looking for price to make lower low and rsi to make higher high. See the screen.
U r right...thanks... on a line chart it is easier to see and draw the lines based on the close...which shows the divergence better
  • #172
  • Aug 25, 2011 8:46am Aug 25, 2011 8:46am
Yes that is correct, I made a mistake. I corrected it in my post. Thanks!

Quoting herty
hi Razorman,

You meant "Price closes make a lower low while RSI makes a higher low"
two posts ago.

Herty
  • #173
  • Aug 25, 2011 9:02am Aug 25, 2011 9:02am
here she is. This is the mini DOW chart. Everything you wanna see, DIV, great bar formation, good location. Lets see if she breaks.
Attached Image (click to enlarge)
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  • #174
  • Aug 25, 2011 9:08am Aug 25, 2011 9:08am
Quoting Razorman
RSI is only used for divergence, the actual value of rsi does not matter.

I enter with buy or sell stop when the signal bar breaks.

If the signal bar is broken on the other end then the stop order is canceled.
What happens if the first bar after the signal bar doesn’t break neither the low nor the high of the signal bar?
  • #175
  • Aug 25, 2011 9:09am Aug 25, 2011 9:09am
Then we wait for either side to break. if the signal bar breaks we are in the trade if it breaks the other end the order is canceled.
  • #176
  • Aug 25, 2011 9:26am Aug 25, 2011 9:26am
Lets see if we make the first target. If you took this your stop has to be at break even by now.

Quoting Razorman
here she is. This is the mini DOW chart. Everything you wanna see, DIV, great bar formation, good location. Lets see if she breaks.
Attached Image (click to enlarge)
Click to Enlarge Name: screen3.jpg Size: 218 KB
  • #177
  • Aug 25, 2011 9:44am Aug 25, 2011 9:44am
this was good for 20 ticks...
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  • #178
  • Aug 25, 2011 9:47am Aug 25, 2011 9:47am
ye that is a nice one.
  • #179
  • Aug 25, 2011 10:00am Aug 25, 2011 10:00am
I took this short for 10...got in late...but it was a good one...cl is moving very fast today...
Attached Image (click to enlarge)
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  • #180
  • Aug 25, 2011 10:02am Aug 25, 2011 10:02am
We have a multi time frame trade developing right now. If this closes and forms a 4h bearish engulfing there is a possibility that we might see a big down move today or friday. Watch this one closely.



Quoting Razorman
Lets see if we make the first target. If you took this your stop has to be at break even by now.
Attached Image (click to enlarge)
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