Free Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods
It is currently Sun Jun 24, 2018 1:45 pm

All times are UTC - 5 hours

Post new topic Reply to topic Bookmark and Share  [ 2 posts ] 
Author Message
 Post subject: Breakout strategy -- Price action
PostPosted: Thu May 27, 2010 5:02 pm 

Joined: Wed May 26, 2010 5:36 am
Posts: 17
Location: India
Hi Nihabaa

I discovered your "Trading Hammer" post at ET .. and subsequently this.

I'm a day trade on Indian Stock Exchange. Mainly Stock Futures. I have been trading on-off for 2 years now, hence I do have decent understanding of bar charts. I only focus on 3 select script's (Till the time i'm more consistent on my profits!). I don't use any technical indicators. I mainly rely on price action (though plan to use T&S ).

My main strategy involves trading breakouts of S/R zone's. I typically would wait for the stock to make 3 attempts to break the S/R line. If its a short signal , i don't consider volume at all (I believe volume follows price). This is for my pattern signal. I use one more variation whereby i wait for reduction in volatility/range and inside bars.

My entry signal is one thing i need serious help with, as of now i keep a limit order below/above S/R line. My profit target is based on nearest S/R zone (Or alternatively nearest even number "05" , "10" ,etc)

Chart for my future instrument is attached. I have marked 3 attempts by the price. Also marking my Entery area, Stop Loss area and my Profit area.

From the chart. you can see that the price breaks the S/R line after 3 attempts, goes towards my nearest S/R zone, reverses --- and takes away my stop loss! ...Yes, in hindsight that nearest S/R zone should have been my profit taking (Greed took over and i chose a even number 1610 as target!)

This was second area i need help on ..."Exit"

I hope i made sense in my post.

Vipul Bhadra

File comment: LNT Futures chart.
LNT-27May.png [ 29.66 KiB | Viewed 2300 times ]
 Post subject: Re: Breakout strategy -- Price action
PostPosted: Mon May 31, 2010 3:29 pm 
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3162
Location: Canada
Hi Vipul Bhadra,

I'm back from a few days of vacation. Your private thread is now setup for you at the following link and it contains the WRB Analysis Tutorial Chapters 1, 2 and 3. Also, after you've read the free WRB Analysis Tutorial Chapters 1, 2 and 3 study guide, you'll have free support for 30 days after posting your first question.

Note: Only you have access to your private thread at the above link. Thus, no other forum member can see it nor access it. Therefore, we can have a private conversation in improving your trade strategy but that's only possible if you continue asking questions and posting charts in your private thread. Simply, the support is critical in integrating WRB Analysis into your trade methodology.

Also, if you understand the English education material presented in the WRB Analysis Tutorials along with being able to translate it into your own language...I will compensate you with free access to one of the advance tutorial chapters (e.g. tutorial chapter 4). In addition, I'll post special referral payment links within translated WRB Analysis Tutorial documents that's linked to your user name so that you can be financially compensated if someone makes payment via those special referral links (contact me for more information).

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Image@ and
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002

Display posts from previous:  Sort by  
Post new topic Reply to topic Bookmark and Share  [ 2 posts ] 

All times are UTC - 5 hours

Who is online

Users browsing this forum: No registered users and 1 guest

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009