TheStrategyLab.com Price Action Trading Support Forum

Hello,

My question is about having more than one WRB in close proximity on the same timeframe and/or different timeframes.
Is there a clear way to view WRB in order of importance or validity on the same chart and between timeframes?


Regards,

JD

My chart...

Hi JD,

Thanks for the question and to best answer it I've posted below a link to my answer to questions similar to yours by a trader that uses the 1 hour time frame for his forex currency.

http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=5&t=402

The key is that just because something is a WRB doesn't imply it's important. Simply, the only WRBs we should be concerned with are the ones that represent a key change in supply/demand as detailed in the WRB Analysis Tutorial Chapters 1 - 12.

Further, if a WRB is identified as a key change in supply/demand...it becomes a WRB S/R Zone. Thus, if your question really is about WRB S/R Zones in close proximity to each other or overlapping...it doesn't happen often but it can happen. WRB S/R Zones that overlap or in close proximity are independent from each other because the reason that designates them as a key change in supply/demand is often different. For example, one WRB S/R Zone may be via tutorial chapter 2 while the other WRB S/R Zone it's overlapping with or in close proximity may be via tutorial chapter 7.

In addition, WRB S/R Zones have different lifespans. Thus, in those rare price actions where WRB S/R Zones are overlapping or in close proximity of each other...the price action will most likely cause one of them to soon be closed while the other is still open.

A closed WRB S/R Zone can't be use to confirm your trade signals whatever your trade signals may be. However, all WRB S/R Zones can be used as a profit target.

With that said, I've now included you on the access list for the 30 day free trial and the link below is now valid for you to access the WRB Analysis Tutorial Chapters 1, 2 and 3 that represent the basic tutorial chapters. You'll have access for 30 days in which I will provide support to your questions while you merge WRB Analysis into whatever trade signal strategy you're using to help improve the performance of your trade strategies.

http://www.thestrategylab.com/tsl/forum/viewforum.php?f=61

In contrast, the advance tutorial chapters are 4 - 12 are price at $75 per chapter and you qualify for the special discount offers at the below link.

http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=5&t=165

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
@ http://twitter.com/wrbtrader

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