Price Action Trading (no technical indicators)
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##TheStrategyLab (located on the Freenode IRC network) is free along with being a serious professional trading chat room for traders using WRB Analysis (e.g. Contracting Volatility, WRB, WRB Hidden GAP, WRB Zone) by itself or merged with other trade methods to improve the performance of those other trade methods regardless if you're a position trader, swing trader or day trader. Therefore, you're welcome to use the chat room to ask questions about WRB Analysis, post real-time price action trading analysis involving WRB Analysis merged with your own trade methods, post real-time trades or talk about general market issues impacting today's price action involving stocks, futures, exchange traded funds or forex currencies. In addition, we welcome all traders (beginners, experience, part-time, full-time) that are merging WRB Analysis with their trade methods or using WRB Analysis to help develop a better understanding of the price action (market context) they're trading.
##TheStrategyLab is primarily designed to only be a trade journal for documentation purposes so that members can have a real time stamp archive of their trades and their market commentaries of each trading day...giving them a better understanding of their broker statements from one trade to the next trade when they review their performance numbers on any given trading day in the past. Therefore, if you use our chat room...its highly recommended you post messages that reflect what you see in the price action on your monitors so that the chat room becomes your diary (journal) to correlate with trades on your broker statements.
Also, if you want ##TheStrategyLab chat room to be educational for you, ask questions instead of lurking (not participating in conversations). You can talk about anything related to price action analysis, trade execution, financial markets, economies or news impacting the markets in general.
Quote:
The chat room is only for traders using concepts of WRB Analysis. In addition, traders that use ##TheStrategyLab are not required to post trades but if you do post trades...the trades must be clear (not ambiguous) entry price/exit price and position size. Traders that consistently post ambiguous trades will be KICKED (removed) from the chat room.
With that said, thanks for reading the trades, price action analysis or market commentaries that's below and we highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful market context information that's critical to understanding price action trading. To log into ##TheStrategyLab chat room that's located on the Freenode IRC network...please follow the instructions here at the FTCHAT Support Forum @ http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5 or via the the instructions from the TSL Support Forum @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Attachment:
051413-Key-Price-Action-Markets.png [ 528.69 KiB | Viewed 289 times ]
click on the above image to view today's price action of key markets
Note: Trader conversations below may represent two different logs (public and private) merged together as one log.
Session Start: Tue May 14 06:55:19 2013
Session Ident: ##TheStrategyLab
[06:55:19] * Now talking in ##TheStrategyLab
[06:55:19] * Topic is 'Chat room only for traders using WRB Analysis (WRBs, WRB Hidden GAPs, WRB Zones) for day trading, swing trading or position trading. | WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... 119&t=718'
[06:55:19] * Set by wrbtrader on Tue Feb 05 08:11:19
[06:55:20] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[08:55:55] <canaandog> good morning
[08:56:23] <squiggles> gday
[09:14:12] <squiggles> TF after moving around the R area of 0752 to 0754 HG is now breaking higher
[09:17:36] <squiggles> Tf retraced , now undecided
[09:23:45] <Trendtrader>
all[09:24:53] <squiggles> TF, Es, Ym, NQ sideways action for last hour
[09:25:06] <squiggles> maybe wake up 0930
[09:30:58] <Trendtrader> Long Emini TF @ 973.3
[09:30:59] <Trendtrader> x1
[09:32:03] <wrbtrader> ##TheStrategyLab -> - This chat room is not intended to be educational. Yet, if you have trading related questions oryou need help in understanding the price action you're trading, it's your responsibility to ask questions in here to get answers. Simply, nobody in here can read your mind if you LURK (do not ask questions).
[09:33:13] <Trendtrader> Exited all Emini TF Long @ 975.3 --> + 2
[09:37:15] <TigermanTrader>
all[09:37:53] <Trendtrader>
tiger[09:43:12] <TigermanTrader> long iwm 97.31
[09:44:57] <TigermanTrader> exit iwm 97.21 -0.1
[09:45:00] <wrbtrader> I'll be not using mobile for a little while until I find a better solution of "connection" AFTER yesterday's disconnection problems to IRC for me and other users in here.
[09:45:38] <TigermanTrader> contracting in iwm
[09:45:44] <MattR_> g'morning
[09:46:13] <TigermanTrader> long iwm 97.26 re-enter
[09:47:04] <MattR_> Contracting volatility in CL. Price action inside WRB HG 9:00-9:10am (et)
[09:47:37] <canaandog> long shadows tf 2m,5m
[09:48:07] <TigermanTrader> exit iwm 97.19 -0.07
[09:50:26] <wrbtrader> Long Emini TF @ 977.00 -> medium size
[09:50:33] <wrbtrader> 4 contrcts
[09:50:58] <TigermanTrader> long iwm @ 97.30
[09:51:00] <wrbtrader> Emini TF futures in a Creeper Up Movement...trying hard to move above the recent long upper shadows
[09:51:24] <TigermanTrader> exit iwm 97.36 +0.06
[09:53:34] <wrbtrader> WRB pt1 reached
[09:55:34] <MattR_> Light Crude Oil CL Futures volatility spike.
[09:58:55] <wrbtrader> volatility declining as if there's an expected 1000am est KME
[09:59:04] <wrbtrader> tighting stop/loss protection
[10:03:38] <wrbtrader> Light Crude Oil CL futures and Gold GC futures showing contracting volatility...
[10:03:51] <TigermanTrader> tf iwm too
[10:03:55] <wrbtrader> Taking price action back inside their most recent UP WRB Hidden GAP
[10:16:06] <wrbtrader> WRB pt2 reached...not the WRB Hidden GAP pt1 (profit target goal) for this trade.
[10:17:23] <wrbtrader> Exited all Emini TF Long @ 979.00 --> + 2
[10:24:29] <wrbtrader> Gold GC futures snapback (retracing) back inside the range of its most recent UP WRB Hidden GAP
[10:25:05] <wrbtrader> snapback = retracing fast on momentum/increasing volatility
[10:36:51] <TigermanTrader> short forex eur/usd 1.2969
[10:37:18] <TigermanTrader> exit eur 1.2965 +4 tick
[10:47:03] <squiggles> TF, ES, YM and NQ consistent trend up since 0930
[11:06:30] <t4npaper> trending all morning i see
[11:43:43] <TigermanTrader> take care all see all next time
[11:45:02] <MattR_> Gold GC Futures volatility spike
[11:46:14] <wrbtrader> Geesh...
[11:46:58] <wrbtrader> I was watching Gold GC futures like a hawk and I decided to take a break at 1115am est.
[11:47:22] <wrbtrader> Come back to see a nice volatility movement downward that I missed
[11:47:41] <MattR_> Yeah, I ignored 4 signals thinking it was too choppy.
[11:47:52] <wrbtrader> WRB Analysis -> - Chat room for day traders, swing traders, position traders using concepts from WRB Analysis such as contracting volatility, key market event (KME), reaction high/low, WRB, WRB Hidden GAP, WRB Zone, WRB pt levels to help improve understanding of the price action their trading and/or improve the performance of their trade signal strategies while price action trading. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718 or http://www.twileshare.com/user/wrbtrader
[12:11:05] <wrbtrader> Long Gold GC @ 1427.10 -> small size
[12:11:12] <wrbtrader> 1+2
[12:11:42] <wrbtrader> will be a tough trade
[12:12:36] <wrbtrader> WRB pt1 reached...I'm still holding for a little more
[12:18:28] <wrbtrader> Exited all Gold GC Long @ 1427.60 --> + 0.5
[12:23:38] <wrbtrader> Shorts Gold GC @ 1426.00 -> medium size
[12:23:48] <wrbtrader> 3 contracts
[12:28:14] <wrbtrader> Covered all Gold GC Short @ 1425.70 --> + 0.3
[12:33:47] <wrbtrader> Shorts Gold GC @ 1424.40 -> large size
[12:33:55] <wrbtrader> 4+2
[12:34:12] <wrbtrader> increasing volatility
[12:34:19] <wrbtrader> now chopping
[12:37:56] <wrbtrader> Covered all Gold GC Short @ 1425.70 --> - 1.3
[12:54:34] <wrbtrader> Shorts Gold GC @ 1424.70 -> large size
[12:54:51] <wrbtrader> re-entry
[12:55:12] <wrbtrader> 3+3 contracts
[12:55:56] <wrbtrader> the spread is killer
[12:56:34] <wrbtrader> will try to market out on "downticks" to minimize the spread problem
[12:56:48] <wrbtrader> WRB pt1 reached
[12:58:26] <wrbtrader> For some odd reason...feels like a Friday trading session
[12:58:47] <canaandog> wow, freenode in strange condition
[12:58:54] <canaandog> many servers not working
[12:59:13] <canaandog> and one server I "got in", but nobody else was in forums
[12:59:15] <wrbtrader> Yeah...they've had some sort'uv of a server collapse yesterday.
[12:59:23] <wrbtrader> still problems today but not like yesterday
[13:02:19] <wrbtrader> Covered all Gold GC Short @ 1424.20 --> + 0.5
[13:11:43] <wrbtrader> Long Gold GC @ 1425.60 -> medium size
[13:11:59] <wrbtrader> 4 contracts
[13:17:27] <t4npaper> 6e vol spike down
[13:18:11] <wrbtrader> Exited all Gold GC Long @ 1424.60 --> - 1
[13:21:04] <wrbtrader> Long Gold GC @ 1425.40 -> large size
[13:21:18] <wrbtrader> 3+2
[13:21:23] <wrbtrader> +1
[13:21:50] <wrbtrader> volatility increasing...choppy too
[13:21:52] <wrbtrader> re-entry
[13:23:03] <wrbtrader> WRB Hidden GAP pt1 @ 1426.50
[13:23:47] <wrbtrader> I'm slow on that pt1 post
[13:24:02] <wrbtrader> price action now around 1427.00
[13:24:19] <wrbtrader> snapback
[13:24:36] <wrbtrader> R area of most recent WRB Hidden GAP being tested
[13:26:22] <wrbtrader> Exited all Gold GC Long @ 1426.00 --> + 0.6
[13:26:23] <t4npaper> oil down spike
[13:29:38] <wrbtrader> Shorts Gold GC @ 1424.60 -> medium size
[13:29:49] <wrbtrader> 4 contracts
[13:29:53] <wrbtrader> trade error
[13:32:38] <wrbtrader> crazy chop again
[13:40:22] <wrbtrader>
[13:43:08] <wrbtrader> Covered all Gold GC Short @ 1424.50 --> + 0.1
[13:44:08] <wrbtrader> Gold GC went to 1424.10 (twice) then back up to 1425.40 and then back down again
[13:44:13] <wrbtrader> I got no fill
[13:44:41] <wrbtrader> finally...on its way back up from 1424.30 it gave me a fill
[13:45:31] <wrbtrader> contracting volatility and tight trading range showing up now
[13:45:38] <wrbtrader> nevermind...
[13:45:42] <wrbtrader> volatility spike
[13:46:19] <wrbtrader> Long Gold GC @ 1425.90 -> large size
[13:46:29] <wrbtrader> 6 contracts
[13:46:48] <wrbtrader> the way Gold GC futures is bouncing around with its volatility
[13:47:09] <wrbtrader> I will stop trying to catch a WRB Hidden GAP pt1 trade
[13:47:20] <wrbtrader> Instead, goal will be just a WRB pt1
[13:49:36] <wrbtrader> Will need help from other key markets because they've enter into some kind of horrible low volatility tight trading range (e.g. Emini ES futures)
[13:53:56] <MattR_> Volatility Spike Emini ES Futures, et al.
[13:54:08] <wrbtrader>
[13:54:39] <t4npaper> long gc 1425.4
[13:55:25] <t4npaper> error trade...
[13:56:08] <t4npaper> exit 1425.3
[13:56:18] <wrbtrader> volatility increasing in the Emini futures
[13:57:33] <@wrbtrader> Understanding ##TheStrategyLab -> - Archive chat logs are stored @ http://www.thestrategylab.com/ftchat/forum/ and you can understand some of the words (e.g. Key Market Event, Contracting Volatility, WRB, WRB Hidden GAP, WRB Zone, WRB pt levels) being used here in the chat room for price action trading via the WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[13:58:25] <@wrbtrader>
[13:58:45] <@wrbtrader> about to get crazy again
[13:59:02] <@wrbtrader> increasing volatility in Gold GC futures
[13:59:21] <@wrbtrader> whatever shook up the Eminis...Gold GC futures is now starting to react to it too
[14:00:03] <@wrbtrader> Amazing how volatility bounces around from one key market to another key market within 1 - 2 minutes of each other
[14:00:35] <@wrbtrader> Exited all Gold GC Long @ 124.00 --> - 1301.9
[14:00:46] <t4npaper> spike
[14:00:50] <@wrbtrader> Exited all Gold GC Long @ 1424.00 --> - 1.9
[14:05:40] <@wrbtrader> Long Gold GC @ 1424.20 -> large size
[14:05:53] <@wrbtrader> 2+2+2
[14:06:00] <@wrbtrader> beware of the spikes
[14:06:11] <@wrbtrader> re-entry
[14:08:16] <@wrbtrader> Gold spikes today have caught me for some decent losses today...
[14:08:34] <@wrbtrader> Haven't had a runner in my favor today in Gold GC.
[14:08:56] <@wrbtrader> Almost had one that tried hard to become a WRB Hidden GAP pt1...
[14:09:08] <@wrbtrader> Yet, it then snapback hard.
[14:11:25] <@wrbtrader> Crude Oil CL futures rolling over again
[14:12:22] <@wrbtrader> Short Light Crude Oil CL @ 94.20 large size
[14:12:41] <@wrbtrader> 9 contracts
[14:15:00] <@wrbtrader> Cover all Light Crude Oil CL @ 94.09 + 0.11
[14:17:03] <@wrbtrader> Crude Oil CL futures snapback
[14:18:41] <@wrbtrader> Exited all Gold GC Long @ 1425.50 --> + 1.3
[14:18:48] <@wrbtrader> correction
[14:19:02] <@wrbtrader> Exited all Gold GC Long @ 1424.50 --> + 0.3
[14:20:35] <@wrbtrader> Gold GC snapback
[14:21:01] <@wrbtrader> Shorts Gold GC @ 1422.90 -> large size
[14:21:12] <@wrbtrader> 4+2
[14:21:30] <@wrbtrader> increasing volatility in different key markets at the same time
[14:24:02] <@wrbtrader> getting killed on these Shorts in Gold GC today on the counter-thrusts
[14:29:06] <t4npaper> 230 oil
[14:38:27] <@wrbtrader> Shorts Gold GC @ 1423.70 -> Add
[14:39:02] <@wrbtrader> This Gold GC futures trades is setting up to be the deciding factor if I have a profitable trading day or losing trading day.
[14:39:44] <@wrbtrader> I don't think the Emini TF futures rush hour volatility will be there to save the day for me if I'm wrong on Gold GC trying for regular session intraday lows
[14:40:34] <@wrbtrader> Also, I don't have enough profit in Emini TF with Crude Oil CL futures to offset losses in Gold GC futures
[15:03:28] <@wrbtrader> Gold GC futures climbing upwards above its most recent long upper shadows
[15:23:12] <t4npaper> long tf 982.7
[15:28:12] <t4npaper> long add 982.6
[15:33:58] <@wrbtrader> Emini TF in a Creeper Up Movement
[15:34:43] <@wrbtrader> Long Gold GC @ 982.90 -> large size
[15:34:50] <@wrbtrader> ooops
[15:34:57] <@wrbtrader> That's an Emini TF trade
[15:35:28] <@wrbtrader> Long Emini TF @ 982.90 -> large size
[15:35:33] <@wrbtrader> 8+2
[15:36:49] <@wrbtrader> too early into the last 30 minutues of the regular trading session to see if volatility will be there going into the 4pm est rush hour traffic
[15:38:11] <@wrbtrader> WRB pt1 (shallow) reached
[15:38:43] <t4npaper> exit 983.6
[15:39:04] <@wrbtrader> Key markets (including Gold) working together again with their volatility exchanges
[15:50:36] <t4npaper> tf is a ray of goodness for you
[15:51:09] <@wrbtrader> Not good enough
[15:51:48] <@wrbtrader> Need a runner in Emini TF to a WRB Hidden GAP pt1...
[15:51:53] <@wrbtrader> doesn't look good for such
[15:52:32] <@wrbtrader> It had its chance when it made that WRB pt1
[15:53:16] <@wrbtrader> Switching to the 15 minute chart on Gold GC futures...caused too much of a headache today for me
[15:54:29] <@wrbtrader> Gold GC futures slowly increasing its volatility
[16:00:20] <@wrbtrader> Exited all Emini TF Long @ 983.90 --> - 438.8
[16:00:47] <@wrbtrader> +1.0
[16:01:07] <@wrbtrader> It calculated in error the Gold GC trade
[16:04:35] <@wrbtrader> WRB Analysis -> - Your use of this chat room implies you're using concepts from WRB Analysis for price action trading to help trade either Stocks, Emini Futures (EMD, TF, ES, NQ, YM), EuroFX 6E Futures, Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40, BUND), Treasury Futures (ZF, ZN, ZB), Oil Futures (Brent, CL, HO, QM), Gold GC Futures, Natural Gas NG Futures, Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQ, SPY), Hang Seng HSI Futures, NIFTY Futures, Forex Currencies (GbpUsd, EurUsd, EurYen, UsdCad) and other key market price actions.
[16:05:31] <@wrbtrader> weak volatility for the Emini TF futures into the 4pm est rush hour traffic
[16:07:53] <@wrbtrader> Exited all Gold GC futures @ 1424.40 (6 contracts per -1.5) and @ 1424.50 (3 contracts per -0.8)
[16:13:30] <@wrbtrader> Hopefully tomorrow Gold GC futures will not make a big move before the regular session 0930am est open...
[16:14:00] <@wrbtrader> I'm still looking for a big runner in it.
[16:14:16] <@wrbtrader> WRB Hidden GAP pt3 or pt4
[16:14:23] <@wrbtrader> Take care all and see all tomorrow
[16:14:37] <MattR_> l8r
Session Close: Tue May 14 17:58:21 2013
-------------------------
##TheStrategyLab (located on the Freenode IRC network) is free and is a serious professional trading chat room involving WRB Analysis in which any trader (position trading, swing trading, day trading) can use the chat room to post their trades or commentaries about stocks, futures, exchange traded funds or forex currencies. Simply, you don't need to be a client of TheStrategyLab.com to use the chat room nor do you need to be a price action trader (no indicators) because some members use indicators while others do not. Yet, the only requirement is that you want to learn WRB Analysis.
Therefore, we welcome all traders that want to learn about WRB Analysis regardless if they are beginners or experience traders in price action trading.
The purpose of ##TheStrategyLab is that it's designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day.
Further, members are not obligated to educate nor help other members but members are encourage to ask questions about any trades or market commentaries that's posted by others because sometimes the answers contains useful trading tips.
In addition, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different trade signal methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisements for guest visitors.
Commonly discussed trading instruments from stocks, futures, exchange traded funds and forex currencies:
CME Emini Futures EMD, ES and NQ ICE Emini TF Futures (formerly CME ER2) CBOT mini-sized Dow Futures YM Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50 Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz Euronext Futures FTSE-100 and CAC-40 CME Futures EuroFX 6E and EC Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen and Usd/Cad Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BRN, e-miNY QM and Natural Gas NG COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI S&P CNX NIFTY Futures Hang Seng Index Futures HSI and mini-Hang Seng MHIAlso, to prevent the usual mix-up about our different chat rooms, most of our fee-base clients do not use chat rooms just like most retail traders do not use chat rooms. Yet, the few clients that do use chat rooms, our fee-base clients are discussing market analysis or price action only trade signals via concepts from our strategies in the private chat rooms called ##VolatilityTradingTSL or ##WRB_Analysis and they're not allowed to do such in ##TheStrategyLab.
Reminder, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that ##TheStrategyLab is a serious professional price action trading chat room and we expect members to act professional. Also, these logs may have been edited (rarely) to remove any messages that a member has complained to me via private message that they consider a particular commentary to be inappropriate, offending or too far in the off topic area that's a distraction when the commentary was posted.
Note: chat logs saved (timestamp) from Québec, Canada in eastern daylight time
Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/wide range bar analysis)
Price Action Trading
@ http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
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intradaystrategies@yahoo.com
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