Nexas's Intraday Range Bar Trading

well as long as you are making positive pips thats what counts. this method is solid.

Nice trading Olarion!

You seem to be really picking this up! You are also right to just focus on the one pair. You really don't need anymore, which ever instrument you pick just stick with that and get to know it intimately!

You are on the right track, all that stands in your way is taking some losses and then remaining confident, that will be your hardest challenge, but if you can remain focused and come through it, you will be well on the road to achieving all of your goals!

am slowly getting a feel for this system. 4 range setups on aud,there were 4 valid setups recently,, higher TF on strong uptrend recent so good strength. whereas eu etc not as much strength. any of the 4 would've won some pips.

enter immediately on the break at good level with solid candlestick, rather than wait for a close and buy at higher price, lower the better for longs, reasonable risk reward all the way to the top. MAs all in line well.

seems the net effect - we are buying the dip on a retrace/consolidation in the hope it continues the trend. so its a trend following system which is better.

looks like it is going down again, so wait now until it goes below the MA or wait for a long again. if short against counter trend if you make quick pip just close position.

looking at the pic, an aggressive short entry was also on at 1.03 resistance also, forget the MAs and use S&R. that is also a valid trade, up about 7 pip currently. notice the head and shoulder confirmation on the chart, so all three reasons could be used to take the short trade scalp.

http://i40.tinypic.com/2i8vtdv.gif


http://i39.tinypic.com/10ofsc5.gif

I have this taped to my forehead..which makes for a nice look when I'm out in public..which is only 1 time per decade..:-)...a very important question to get a read on the "market landscape" or "condition".."are they buying the dips or selling the rallies" we had 2 really nice very tradable swings today..high to low..and then retrace to the fib78....but only a 103tick range ..and our 5per ADR is around 140..on a higher frame you can see the wedge we a funnelling into..and we have the ECB min bid rate manyana..followed by the infamous "press conf" and US unemployment claims ..so should be intresting session..trade well..not dangerous..you want danger jump into a Lion's mouth..so be careful around the econs..

see how the counter trend trade worked out

bear in mind reasons above held. its a perfect trade 10/10

http://i42.tinypic.com/2egbrmb.gif

EUR-AUD

Waiting for the MA's to cross back over to downside, to continue the main trend, after the news spike this morning

Price already hit the ADR predicted high - price label on top right, 80 pips to travel down to ADR predicted low

EUR-USD

Anyone else like to see a downside breakout of today's 28 pips range?

Maybe at Europe open....or will they cook up some "good" news for EZ?

Hey Erebus
Nice charts. I have been looking for a ADR indicator like that. Can you share it? Most ADR indicators I have come across have alot of extra stuff with them that clutters the charts too much for my taste. Thanks.
Mark

I sure would like to do that, but it is purchased, got my name on it & locked to my computer!

However, it is available at Google for compassfx adr

Not posting links due to NO advertising allowed rule

No problem. I'll check it out. Thanks.
Mark

A long setup is forming after London open.

hi i think there was already 1 signal earlier gave about 15 pips
looks another forming

Agree, I took that one too, for 10 pips

Edit:And lost that 10 pips on second trade.

Hi All,

PLease be careful over the next two days... there is a lot going on in terms of meetings and announcements, so don't be to surprised if the moves seem laboured until the releases.

Nexas

After a quiet morning, it looks like the markets have woken up. A few nice opportunities so far this afternoon. I hope you all have managed to catch a move or three!

looks like it gave some nice aud,eur longs from lower prices

Wasn't able to trade from late yesterday or early today, looks like the AUD-USD had great move, see some pin bars on regular 1 H, 4 H & Daily chart

On this chart, I swiched to Nexas set up with 20, 60 & 100 MA with the 200 in there for good measure

Also, trade signals from iTradeAIMS indicator

Also, looks to have hit the lower ADR according to indicator, but anything can happen when Europe & London opens, or news comes from big meeting...

PS - having typed that, looks like it is continue lower, wait for next pullback I suppose

Here is how I position a vertical line to track the start of today, as in 00:00 hours, you can make it any time you want but as we know, range bars are not about time - but I do like to look at the day's action in terms of what has gone on today, you will also see that I plot a HIGH and LOW line as we know these are important areas.

several really nice sells..on 4rg..1) @8:17:37amEST..1st 4bar + pback ..after the 20/60/100 ema stack...trader could have held the trade thru the 8:30 USA trade Balance report..since it was profitable going into the report..if you do have a lead going into a report..just tighten the trailing stop to prevent huge whipsaw.. good for 37tick+ potential..depending on how it was managed....2)8:49;02..nice tline break..with proper stack for a continuation sell...good for 29 ticks+ depending on how managed....3)8:57:38amEDT..good for 12i ..depending on how managed...when you see progressively lower runs..its time to very very skeptical as the symmetry of move continues to shrink.....and sure enough that was it for that leg down..so after 3 runs ..be on guard for more..although the market will do what its going to do..I'm not a big Elliot wave guy but the wave ideas are a good rule of thumb

I just finished reading the thread and I really like what you're doing here. I'm often scouring the Factory for range bars threads these days and it's nice to see one that combines the RBs with dead simple KISS trading.

I've been dabbling in range bars myself for a couple years now but have only been using them in a very active fashion for my entries in the past couple months. M1 was my preferred entry method of choice for a long time but it seems unlikely I'll ever go back to using that alone as a range bar chart can really clear up some of the issues with time-based charting.

I'll definitely be keeping an eye on the thread. Not sure if I'll be posting much or not as I mostly use 5RBs and I also use them for all types of trades whether counter-trend, range extremes, trends, or highly volatile markets. The thing I like about this thread is that it keeps it simple with basic breaks in trending markets so I wouldn't want to start steering things away from that.

Lastly, I'll just say that there's some good newbie advice in here to go along with the KISS approach. You (Nexas) and kipr seem to have a strong understanding of the markets and a willingness to help people out which is great to see. I'm happy to give you both your first vouches.