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(binned per thread starter’s request) dwebTWT: Trade When Triangl

  • #101
  • Oct 9, 2016 4:10pm Oct 9, 2016 4:10pm
Quoting dweb
2nd order confirmed... levels are tight at this stage. {image}
3rd SB drawn to evaluate HPX of 2nd and perhaps 1st order
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1_7.png Size: 25 KB
We err, and err, and err again, but less.
  • #102
  • Oct 9, 2016 4:22pm Oct 9, 2016 4:22pm
Quoting dweb
{quote} 3rd SB drawn to evaluate HPX of 2nd and perhaps 1st order {image}
3rd SB moved to evaluate possible new TWT
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1_8.png Size: 32 KB
We err, and err, and err again, but less.
  • #103
  • Oct 9, 2016 4:27pm Oct 9, 2016 4:27pm
Quoting dweb
{quote} 3rd SB moved to evaluate possible new TWT {image}
3rd TWT developed but I did not entered 3rd order....needed a good spread gap. even if 2nd order should end negative, 1st order has enough profit cover losses...but that is not why we are here...we want HPE and HPX that is well timed....
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1_9.png Size: 34 KB
We err, and err, and err again, but less.
  • #104
  • Oct 9, 2016 4:39pm Oct 9, 2016 4:39pm
Quoting dweb
{quote} 3rd TWT developed but I did not entered 3rd order....needed a good spread gap. even if 2nd order should end negative, 1st order has enough profit cover losses...but that is not why we are here...we want HPE and HPX that is well timed.... {image}
I closed the orders... those tail just looked to much octopus like...

Objective: Show how the TWT can help make trading decisions, and understand the purpose of a dTWT. I am getting sleep now, then books later. I will do Q&A later should there be any Qs. I hope these trade examples helps you.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1_10.png Size: 38 KB
We err, and err, and err again, but less.
  • #105
  • Oct 9, 2016 8:45pm Oct 9, 2016 8:45pm
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1_11.png Size: 40 KB
We err, and err, and err again, but less.
  • #106
  • Oct 9, 2016 11:17pm Oct 9, 2016 11:17pm
1x TWT: Up trend, well timed 2 x HPE.
2 x dTWT: Down Trend,
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5.png Size: 32 KB

dweb(◆)
We err, and err, and err again, but less.
  • #107
  • Oct 9, 2016 11:54pm Oct 9, 2016 11:54pm
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5_1.png Size: 32 KB
We err, and err, and err again, but less.
  • #108
  • Edited 12:40am Oct 10, 2016 12:28am | Edited 12:40am
Terminology:
SB: This refers to the bar chosen to be the start bar where the short horizontal line (SBL) will be drawn either at the H or L of the SB depending trend direction of previous bar (TT)
TT: Target Turn. This can be an up trend bar where Bar the close of the SB has to break the L of the TT. opposite for a down trend TT. (see posts #51 & #67)
HPE: High Probability Entry. In an up trend, The H of SBL is exceeded by the L of the any n-bar after the SB.
HPX: High Probability Exit. This can be confirmed by an HPE in the opposite direction, OR what ever the trader feels comfortable with. No hard and fast rules here yet.
TWT: Trade When Triangle. This is the result of a triangle formed when a 2nd diagonal line is drawn from the SB & SBL to the highest H of the bars in the current TWT set.
dTWT: Double Trade When Triangle. This is the result of a double triangle formed when a 2nd diagonal line is drawn from the SB & SBL to the H of the bar that exceeds the H of the SB, and a 3rd diagonal line is drawn to the L of the bar that exceeds the low of the SB in the current current TWT set.

Please read through the thread to gain understanding before posting questions. If still uncertain, please post your question(s) here. Please update thread with chart examples as well when posting a question that refers to a chart.
We err, and err, and err again, but less.
  • #109
  • Oct 10, 2016 12:44am Oct 10, 2016 12:44am
Here is progress this far...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5_2.png Size: 34 KB
We err, and err, and err again, but less.
  • #110
  • Oct 10, 2016 1:16am Oct 10, 2016 1:16am
Could we have TT & HPX developing?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5_4.png Size: 35 KB
We err, and err, and err again, but less.
  • #111
  • Oct 10, 2016 1:26am Oct 10, 2016 1:26am
Reason for HPX:
++ Strong TWT developing on M1
++ SB closed lower then up trend TT .
++ gut- feel...ouch

++ New HPE launched.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5_5.png Size: 35 KB
We err, and err, and err again, but less.
  • #112
  • Oct 10, 2016 1:56am Oct 10, 2016 1:56am
Objective: Just showing the relationship between M1 & M5 TWT
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5_6.png Size: 36 KB
We err, and err, and err again, but less.
  • #113
  • Oct 10, 2016 2:08am Oct 10, 2016 2:08am
Done for the day. Please post if you apply the TWT to your trading style/rhythm/method.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5_7.png Size: 31 KB

dweb(◆)
We err, and err, and err again, but less.
  • #114
  • Oct 10, 2016 3:13am Oct 10, 2016 3:13am
Hi,
First of all i am very much impressed with your trades.. Few things still confusing me.. basically entry and exit..

As per my understanding:
1) First you need a setup bar.. Which could be Inside bar,Outside bar, or Bar which crosses the high or low of previous candle(only crossing or it should close above high or low of previous candle). please correct me if i am wrong.
2)next candle after setup bar should not touch the setup bar(incase of buy the next candle low should not touch the high of setup bar and same in case of sell it shouldn't touch the high of setup bar).. then we take entry

Please clarify the doubts.. whether my understanding of setup bar and entry is correct or not..
  • #115
  • Oct 10, 2016 4:03am Oct 10, 2016 4:03am
Quoting ritesh79
Hi, First of all i am very much impressed with your trades.. Few things still confusing me.. basically entry and exit.. As per my understanding: 1) First you need a setup bar.. Which could be Inside bar,Outside bar, or Bar which crosses the high or low of previous candle(only crossing or it should close above high or low of previous candle). please correct me if i am wrong. 2)next candle after setup bar should not touch the setup bar(incase of buy the next candle low should not touch the high of setup bar and same in case of sell it shouldn't touch...
Hi ritesh79,

Thanks for your Qs.

For the purpose of the TWT, Outside Bars are ignored.

(1) Where the TT bar is in an downtrend:
+++ the SB must close in an up trend
+++ the high of the SB must exceed the high of the TT.
+++ the SB bar must close up, but does not have exceed the high of the TT.
+++ the opposite holds true in an uptrend.

(2) Observation: if you trade M1, and know your asset's behaviour, then I have found the trigger, not always, to be the bar where the its high and low is above the SBL in an uptrend OR below the SBL in a downtrend. In some chart examples they marked as a blue box. It can be very helpful with HPE. If you find this problematic, then this is the reason this thread is here for. to: share your experience through publish your charts, so the rules can be quantified, and quality HPE be the order of the day.
We err, and err, and err again, but less.
  • #116
  • Oct 10, 2016 4:10am Oct 10, 2016 4:10am
Quoting ritesh79
Hi, First of all i am very much impressed with your trades.. Few things still confusing me.. basically entry and exit.. As per my understanding: 1) First you need a setup bar.. Which could be Inside bar,Outside bar, or Bar which crosses the high or low of previous candle(only crossing or it should close above high or low of previous candle). please correct me if i am wrong. 2)next candle after setup bar should not touch the setup bar(incase of buy the next candle low should not touch the high of setup bar and same in case of sell it shouldn't touch...
HPE: I sometimes go to M1 time frame for entry, but not always required. See post #93 how the 1st HPE was done and how the TWT developed.
HPX: Exit is King. for now I leave this up to each trader to make their own decision on exits, but if you use the opposite TWT and other technical tools you may use as confluence for exit, then please do so.

The objective is ensure quality HPE/HPX, and possible maximised potential profits and limited losses.
We err, and err, and err again, but less.
  • #117
  • Oct 10, 2016 1:54pm Oct 10, 2016 1:54pm
Asset: Nasdaq, M5
Objective:
++ HPE: as per TWT definition
++ HPX: Market Close in 10 minutes
Result: 58pips
Attached Image (click to enlarge)
Click to Enlarge Name: NSDQ-DEC16M5.png Size: 34 KB
We err, and err, and err again, but less.
  • #118
  • Edited 8:21pm Oct 10, 2016 7:56pm | Edited 8:21pm
The higher timeframe may require a different approach or purpose with this method. Perhaps the dwebTWT is just a guide, and then again, perhaps its more than just that...
Edit: updated the 2st TWT
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 35 KB

dweb(◆)
We err, and err, and err again, but less.
  • #119
  • Oct 11, 2016 12:32am Oct 11, 2016 12:32am
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15_1.png Size: 30 KB

dweb(◆)
We err, and err, and err again, but less.
  • #120
  • Oct 11, 2016 12:58am Oct 11, 2016 12:58am
Correction of pst #119: Here is the right picture related to the dwebTWT TE.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15_1a.png Size: 24 KB
We err, and err, and err again, but less.
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