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| charts of ch.2 patterns http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=61&t=1213 |
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| Author: | dv4632 [ Thu Sep 15, 2011 12:26 am ] | ||
| Post subject: | charts of ch.2 patterns | ||
I'll be putting up some charts to see if I can get better at spotting these patterns. Here is an example of Strong Continuation #2 6E 15-min chart Sept 1 But, I realized it is invalid because: ... which traverses into a v1 Dark WRB in which the price action continues declining (minimum 2 dark lines with lower closes) after and below the close of the v1 dark WRB Since this price action did not continue declining it is invalid.
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| Author: | dv4632 [ Thu Sep 15, 2011 12:37 am ] | ||
| Post subject: | Re: charts of ch.2 patterns | ||
Strong Continuation #2 ES 30-min chart, Sept 2
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| Author: | wrbtrader [ Thu Sep 15, 2011 3:08 am ] |
| Post subject: | Re: charts of ch.2 patterns |
Hi, Thanks for the chart example of a strong continuation definition #2 price action as detailed in the basic tutorial chapter 2. Also, as a reminder, some WRB Zones have a life span when filled in by any price action that traverses completely through the WRB Zone as explained in tutorial chapter 2. Regards, M.A. Perry |
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| Author: | dv4632 [ Fri Sep 16, 2011 4:03 am ] | ||
| Post subject: | Re: charts of ch.2 patterns | ||
Here is an example of Strong Continuation #2 on 6E Question: Could I label the monster WRB at 9:00 as a WRB Zone? In the instructions it says "2 or more same color WRB's" so I could make it v1, change my v1 to v2, and change my v2 to v3. However, price did not continue rising for 2 more bars after that 9:00 WRB, which makes me think no I could not make it a WRB Zone under these rules.
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| Author: | dv4632 [ Fri Sep 16, 2011 4:22 am ] | ||
| Post subject: | Re: charts of ch.2 patterns | ||
Another SC #2 Doesn't seem to have a key news event associated with it, so technically not valid according to Chapt. 2 rules but thought I'd add it to my collection anyway.
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| Author: | wrbtrader [ Fri Sep 16, 2011 7:31 am ] |
| Post subject: | Re: charts of ch.2 patterns |
dv4632 wrote: Here is an example of Strong Continuation #2 on 6E Question: Could I label the monster WRB at 9:00 as a WRB Zone? In the instructions it says "2 or more same color WRB's" so I could make it v1, change my v1 to v2, and change my v2 to v3. However, price did not continue rising for 2 more bars after that 9:00 WRB, which makes me think no I could not make it a WRB Zone under these rules. Hi, You should also document on your chart the key market event (KME) that caused the WRB Zone so that you'll learn which key market events are important to your trading instrument and which are not along with being able to determine their lifespan as described in tutorial chapter 2. Regards, M.A. Perry |
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| Author: | dv4632 [ Sat Sep 17, 2011 1:40 am ] | ||
| Post subject: | Re: charts of ch.2 patterns | ||
Here is an example that appears to meet criteria for both Swing Point Type #1 and #2.
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| Author: | dv4632 [ Sun Sep 18, 2011 3:05 am ] | ||
| Post subject: | Re: charts of ch.2 patterns | ||
Strong Continuation Type 1 (invalid because WRB HG did not close above the reaction high, but I include it for the sake of my pattern recognition)
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| Author: | dv4632 [ Sun Sep 18, 2011 3:23 am ] | ||
| Post subject: | Re: charts of ch.2 patterns | ||
Strong Continuation Type 2
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| Author: | dv4632 [ Fri Sep 23, 2011 4:32 am ] | ||
| Post subject: | Re: charts of ch.2 patterns | ||
WRB Hidden Gaps following the FOMC on Wednesday this week. As said in the free tutorial, any Fed related WRB hidden gaps are automatic WRB Zones without having to meet any other criteria. In this case both bars are WRB's and both are hidden gaps so I've made a large WRB Zone that encompasses the range of both bars. Is that valid? Things brings another question to mind. Let's pretend the second of the two bars is not a WRB, would I still be able to use it as a WRB Zone? I guess what I'm asking is: if a bar is not quite a WRB but has a hidden gap, is that of significance? Thanks.
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