Nexas's Intraday Range Bar Trading

Hi Nexus,
Do you look for confluence of the EMAs between the 4 and 8 Rbar charts?

Do you ever take a counter trend trade on the 4? Say the 8 Emas are showing short but the 4 emas are stacked long?

P.S. question is open for others also!

Thanks

krmo...I take divergences frequently although it is not part of this Nexas trend following system..I took a sell6:15:16 amEST..off 4 rg..i like divergences as a return to the mean type trade..but for me to judge them I need the BBands..and some kind of oscillator..i prefer the macd 4/5/13 quick setting..and BBands the std 2/20..the price action "positioning" in reference to the BB envelope and the combined with the macd diverg ..create a disticntive pattern that I have learned to recognize..being that is is a ctrend trade I have tighter targets and also tightening the trailing stop to protect runner profit quicker than if I were trend trading..it is supposedly a higher risk trade ..and probably not a set-up that a less experience trader would even want to bother with..but as you can see this trade worked for a nice gain.Divergence trading is not for the faint of heart..but can be very profitable ..as we know that markets "exhaust" themselves..often creating nice opportunities

I came out down for the morning... the market has not been very nice to me today :-(

Hi Krmo,

Yes I do sometimes take a long on the 4 whilst the 8 is showing short but I would judge it on the momentum.

I do prefer that both charts are pointing in the same direction though. Perhaps I wouldn't have taken the losses I did this morning if I stuck to that little rule.. but then again it is swings and roundabouts.

Here's to the US session :-)

Nexas

I managed to drag myself back to break even for the day The markets are slow and have been all day so on that note... I am done for the day

Nexas ..you clawed your way back to even..which is a good thing.....we did have nice sell signal shortly after you called it a day...a good sell on the 4rg..@10:23:20amEST..simple 4 bar uback..I have noticed that very often the 1st good pback after the ema's stack properly is often a good trade..in this example I had the 20 below the 60 below the 100ema.. right in that time zone.. for the 1st time in the cycle..and price got flushed down the toilet..for a real nice move..there was another nice sell @10:40;03amEST.. if the trader missed the 1st move mentioned above...

market gave some stop hunting for those short, only to crash later after the stop hunts were removed. its a tricky market. those who had SL were removed, wider SL people enjoyed the later move down

the key is SL positions or patient people knowing of potential stop hunts always a strong possibility as the market was heavily short

Hi Kipr,

Thankfully, I managed to bag myself some additional profits... When I saw the momentum I couldn't resist.

I was lucky really though because I was very close to going flying for the rest of the afternoon, but unfortunately the weather was a little too severe...

It was a tough day though, and the lesson has to be to continue to take the setups when they are valid and if you haven't exceeded your daily SL, because had I given in this morning I would have ended with a loss whereas instead I made a nice profit.

We never know when the move is going to happen which is why I don't like watching too many instruments.

Nexas

hi i seem to be learning new things. there was another asia stop hunt before retrace back to support levels for the major pairs.

yes you must take the setup when valid on the 4 and 8 range. sometimes they break out hundreds of pips as they did this week. sometimes they will just SL you out , so just get ready for the next one

after large moves, it is high risk now to go both short and long, as longs are risky due to bearish sentiment, and shorts are risky already fallen and vulnerable to short covering spikes

scalping might be a better option

very tight action so far..market feels heavy to me..but we got to trade em as we see em..buy @ 4:59;27amEDT..4rg..pback.. with 20/60/100 stack ..covered on red candle5:03:36...we are near some levels not seen since last mid Dec...

this range bar does not load....

is it not the case that in a ranging market you will get slaughtered using this system ? it only works when there is a trend to trade the pullbacks. when ranging you will get stopped out on every pullback entry...

i would like to know how you would deal with that.

whatfx....1st I would ask how big is the range if it is indeed a ranging market?... cause if it is a tight range ..then you probably wont get any signals to begin with..as the ema's stacking doesn't take place...if it is a wider ranging market then there is the opp to get some winners....which is why the 4bar pback minimum is a good rule of thumb..as in a tight range you wont see that very often..by the nature of the 20/60/100 ema's ..if they stack properly that should define "if the range" is wide enough to trade....really really study the charts and you will see this effect..so nexas' approach can work in wider range markets or in trending markets..and will probably keep you out of narrow ranging markets..but again this or any other approach is not the " holy grail" the holy grail is how effectively you read the charts

good example of a nice 4rg..break of tline in a "narrow range"..10:43:18amEST..the 20/60/100 stack was still in effect..but the 20 had gone up to the 60 BUT did not cross the 60....so markets expand ..and contract ..1st out at 4(to buy some wiggle room)..and 34 on runner..cover on pback..with tight trailing stop

can someone post a good working range bar indi

Hi to everyone. Now I'm papertrading this system with a demo account with dukascopy. I explain this because this broker has range bar charts and a very low spreads.

wish you good trading during your "papertrading' work...as a reminder..only papertrade..exactly as you would with real $$.. meaning # of contracts..etc..or it is a waste of time

hi jordi. all mt4 broker can have range bar see post #25, and dukascopy is not the best spread, the best spread on the majors is pepperstone

my AUD/USD spread is as low as 0.2 pip during london

re = can work in ranging market just go counter trend and play S&R and ignore flag break

Halba..you are correct..there is more than 1 way to skin a cat..that is a good scalp technique you mentioned

yep. just wait for price to approach intraday resistance for example eg. on 1minute or 4 range chart. wait for a confirmed bounce off the resistance (suggests it is indeed will be repelled) and go short. scalp some pips.

attached is an example. this is a technique from another site - strategy here - it is a 'scalping' strategy .http://www.fxtsp.com/trading-strateg...x-scalper.html

keep stop above the candlestick high

see picture for 6 potential opportunities on aud/usd pair, any of those 6 would've yielded good pips. as asia session unlikely to get major breakout until london/new york. there were a few long entries also, but these were risky as daily chart was down. keep it simple, no flag drawing.

dont wait for any indicators to confirm as they are too laggy- just use the chart. the indicators below are for different system.

http://i.imgur.com/CQxHp.gif