Hi Vipul,
Lets pretend we're not talking about a key market event...lets pretend tutorial chapter has no key market events like tutorial chapter 3. However, we still need to discuss the precise price action definitions.
Simply, you can't ignore the price action definitions and then try to determine if a WRB Hidden GAP is a WRB Zone. Thus, to determine if a WRB Hidden GAP is a WRB Zone you'll need to identify the price action definition that qualifies it as a zone.
Therefore, please review the price action definitions to determine which one of the definitions qualifies that WRB Hidden GAP as a WRB Zone. If none do...than the WRB Hidden GAP is not a zone. However, as stated, the definitions are for those that do not have their own definitions of a swing point or strong continuation price actions.
Thus, you must decide which of the definitions fits the price action in your chart if you understood the basics involving these price actions:
* Swing Point Definition #1
* Swing Point Definition #2
* Strong Continuation Definition #1
* Strong Continuation Definition #2
Here's how you add WRB into your trading via any of the following:
(1) Use WRB Analysis for profit targets
(2) Use WRB Analysis for initial stops or trailing stops
(3) Use WRB Analysis for part of your Entry Signal
#1 above is easy and can be integrated immediately and there's a section in the tutorials version 2.1 about profit targets. #2 isn't discussed but should be obvious and can be integrated immediately. For example, if your going Long on a breakout via a WRB...place your initial stop at the Open of that WRB interval or anywhere in the price area of a nearby WRB Hidden GAP or Zone that's below your breakout signal.
#3 only trade breakouts that occur within a WRB Zone this will filter your trades. However, you made a comment about not being able to see enough historical data (left side of the chart) and that will make it difficult if a valid zone is still open for use from several days ago. Thus, you won't be able to see it due to limitations of your data provider.
Regards,
M.A. Perry
vipulbhadra wrote:
HI Mark
Maybe i confused you .... i was not using key event here from Ch.2. Also although its not as per my strategy ... i thought that chart represented what you mentioned in Chapter 2/3 (Minus the need for pattern signal). The chart was just to see if i understood the basics properly?
Also Mark, i see you have very precise definition of price action .... whereas im more of a breakout trader who relies on previous S/R zones (and not so much on individual or group bar action) .. in which case how do i integrate WRB in my style of trading?
Regards
Vipul