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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. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
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 Post subject: Questions after reading chapters 1,2, and 3 (free guide)
PostPosted: Tue Jul 08, 2014 10:21 am 
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Joined: Sat May 31, 2014 3:58 pm
Posts: 3
Hello,

I am a new member of TSL (not fee-based as of yet) who just finished reading the free WRB Analysis Tutorials (chapter 1,2 and 3). I am still a bit green behind the ears , specially regarding the navigation on this forum, so forgive me if I am placing my questions in the wrong place. Here are a few questions that I have regarding the WRB Analysis Tutorials, I would appreciate your feedback on these and any other helpful comments:

1. In the example of the “Bullish Swing Point” presented on the manual, it is mentioned that the “key market interval must have its price close below the close price of any prior Down WRB Hidden Gap…..or the key market event interval (first WRB Hidden Gap) must have its price close below the range (highest high to lowest low) of any prior three consecutive declining same direction intervals”. However, in the example provided on the manual the market event (US Federal Budget Balance) and first WRB Hidden Gap did not close below its prior down WRB Hidden Gap. Could this have been a mistake? Would this setup still qualify as a possible “Swing Point #1” according to the manual’s definition?

2. On Swing Point #2 the two examples provided mentioned the need for three consecutive same direction intervals to happen after the first WRB Hidden Gap (which is considered the first of these three consecutive same-direction intervals). Is this condition a must in order to be considered a Swing Point #2?

3. Just to make sure: When you explained the Strong Continuation #2 you did not mentioned anything regarding a key market event. Is it safe to assume that, contrary to the other three patterns defined on the manual (Swing Point 1 and 2, and Strong Continuation 1), key market events are not required to confirm the Strong Continuation # 2. ?

4. When looking at my charts to identify WRB Hidden Gaps, I couldn’t help to notice that different time frames (i.e. 5 min vs. a 1 min chart) would reveal WRB hidden gaps independently of each other. That is to say, you might find a WRB Hidden Gap on the 5-min @ 9:35am chart that you won’t be able to see on the 1-min chart (at the same time of 9:35am). I guess we are supposed to just pick a time frame and stick with it. Can traders looking to confirm a setup use time frames interchangeably?

Thank you for your help. I am eager to learn more about WRB Analysis and your other trading strategies.

Sincerely,
Kacun
[ec40] ?


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 Post subject: Re: Questions after reading chapters 1,2, and 3 (free guide)
PostPosted: Tue Jul 08, 2014 2:55 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Hi,

Yes, you posted your question in the wrong section. If you scroll down further you would have saw a big thread called "WRB Analysis Tutorial Chapters 1, 2 and 3 (Questions, Answers & DOKs)"...its the same thread as the link in the free study guide.

Answer #1 - Its not a mistake. I think you forgot that it gave you two options via the or statement. That other option say the following..."the key market event interval (first WRB Hidden GAP) must have its price close below the range (highest high to lowest low) of any prior three consecutive declining same direction intervals."

If you look at the chart, look for any three consecutive down intervals BEFORE the interval identified as the "prior WRB Hidden GAP". Next, compare the range of those three consecutive down intervals and you'll see that the first WRB Hidden GAP interval is BELOW the range of those three consecutive down intervals.

The reason why I don't highlight them on the chart is because I want traders to actually look for them. If you can't see them...start counting backwards...begging with the interval before the prior WRB Hidden GAP interval. You'll see its the 4, 5 and 6th interval that are three consecutive down intervals in that big price decline.

I think I will edit the chart and highlight those intervals because about 1 out of 20 traders are having problems in seeing that big price decline just before the "prior WRB Hidden GAP interval". Most specifically, they are having problems in seeing that the first WRB Hidden GAP interval is BELOW that price decline that occurred before the "prior WRB Hidden GAP interval".

Answer 2 - Yes, its a rule requirement stated in the swing point definition #2. Simply, its a rule you must use unless you have your own rules for swing points.

Answer 3 - I'm not sure why you would think that the strong continuation price action doesn't involve key markets events. Key market events (KME) is the title of tutorial chapter 2. It is mentioned often in the introduction of tutorial chapter 2. In addition, each chart example for the strong continuation #2 has highlighted the key market event interval. Thus, maybe you have not had a chance to review the charts examples for the strong continuation #2 definition.

I'm about to release a new version of the free study guide and I'll make sure the words "key market events" is mentioned more than once in strong continuation definition #2. Currently, the words "key market events" is only mentioned ONCE in the "bearish continuation of strong continuation #2" via the following words...

The v1 WRB must occur at/after the key market event. However, if using the v2 WRB as the WRB Zone…it must occur at/after the key market event.

The same is true for the "bullish continuation of strong continuation #2". Thus, how did you manage not to see that rule state specifically where the key market event is suppose to occur ?

Answer 4 - Its important for you to understand that WRB Analysis does NOT dictate what time frame you use. In contrast, your trade signals dictate what time frame you should be using. For example, if you're using the 1 hour chart to look for trade signals...then you should also be using the same 1 hour chart to look for WRB Zones. Simply, don't first look for WRB Zones and then secondly look for trade signals to occur within those WRB Zones. You'll most likely "trick yourself" into believing you have a valid trade signal when in fact you do not.

That's why its critical that you use your trade strategy (whatever that may be) as you normally use it. Yet, compare the results of those trade signals as you normally use them versus the results of only taking trades via the same trade signal if/when it occurs in a WRB Zone.

Simply, you should view WRB Zones as an additional filter of your trade signals. For example, a forex trader recently told me he was getting about 3 trade signals per day via his trade strategy in trading GBPUSD. Now he only gets about 1 - 2 signals per day when only taking the trades involved with a WRB Zone.

Regards,
M.A. Perry
http://www.thestrategylab.com

Kacun wrote:
Hello,

I am a new member of TSL (not fee-based as of yet) who just finished reading the free WRB Analysis Tutorials (chapter 1,2 and 3). I am still a bit green behind the ears , specially regarding the navigation on this forum, so forgive me if I am placing my questions in the wrong place. Here are a few questions that I have regarding the WRB Analysis Tutorials, I would appreciate your feedback on these and any other helpful comments:

1. In the example of the “Bullish Swing Point” presented on the manual, it is mentioned that the “key market interval must have its price close below the close price of any prior Down WRB Hidden Gap…..or the key market event interval (first WRB Hidden Gap) must have its price close below the range (highest high to lowest low) of any prior three consecutive declining same direction intervals”. However, in the example provided on the manual the market event (US Federal Budget Balance) and first WRB Hidden Gap did not close below its prior down WRB Hidden Gap. Could this have been a mistake? Would this setup still qualify as a possible “Swing Point #1” according to the manual’s definition?

2. On Swing Point #2 the two examples provided mentioned the need for three consecutive same direction intervals to happen after the first WRB Hidden Gap (which is considered the first of these three consecutive same-direction intervals). Is this condition a must in order to be considered a Swing Point #2?

3. Just to make sure: When you explained the Strong Continuation #2 you did not mentioned anything regarding a key market event. Is it safe to assume that, contrary to the other three patterns defined on the manual (Swing Point 1 and 2, and Strong Continuation 1), key market events are not required to confirm the Strong Continuation # 2. ?

4. When looking at my charts to identify WRB Hidden Gaps, I couldn’t help to notice that different time frames (i.e. 5 min vs. a 1 min chart) would reveal WRB hidden gaps independently of each other. That is to say, you might find a WRB Hidden Gap on the 5-min @ 9:35am chart that you won’t be able to see on the 1-min chart (at the same time of 9:35am). I guess we are supposed to just pick a time frame and stick with it. Can traders looking to confirm a setup use time frames interchangeably?

Thank you for your help. I am eager to learn more about WRB Analysis and your other trading strategies.

Sincerely,
Kacun
[ec40] ?


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