TheStrategyLab.com Price Action Trading Support Forum

Mr. Perry,

Thank you for your site and the interesting information you provide. I think I understand what a WRB is, but I’m not sure which are significant. I’m also not fully clear on what “understanding price action” means, but I think I’m getting the idea. I’d like to ask questions along those lines, but I assume those points of confusion are what your tutorials are all about.

Attached is an image highlighting a candlestick chart with one of my trade signal. This signal system is of the flip-flop type, so I’m including both a “flip” and a “flop,” if you will. I use discretion in exiting positions. Unfortunately, it is not a consistently profitable system. If WRB analysis can help me with taking exits and, perhaps, better entries then I am very interested. (I’m also not attached to my trade signals. If there’s value in the WRB tutorials, I may look into one of your trading strategies as well.)

One question I have that is somewhat related is whether you are familiar with Market Profile (aka price histograms) as shown in the other attached image? As I’ve been searching for consistently profitable traders to learn from, it seems that several of them use Market Profile charting. From what I’ve gathered about WRB analysis, I get the sense that your analysis would provide the same kind of information that Market Profile provides without the need for special software (and, in fact, your WRB analysis may be more useful in live trading from what I’ve seen). I’m curious if you could comment.

Also, I’m curious about what factors have led you to favor trading the emini contracts as opposed to other instruments?

Thank you in advance,
Phil Gomez

Hi Phil,

The phrase "understanding the price action" implies any of the following...

* We know what's causing the price action to go up, down or sideways prior to the appearance of any trade signals.

* We know the price action is bullish, bearish, choppy, ranging or whatever as it is occurring (not via hindsight) in real-time prior to the appearance of any trade signals.

That's what WRB Analysis Tutorials helps with...that understanding of the price action to help better manage our trade signals when/if trade signals appear.

I've attached an edited/annotated chart of your chart to show the WRB S/R Zones I see that are still open via your chart that would have also been useful for the trading session of Jan 6th Wednesday (today).



WRB S/R Zone 1 is via an earlier price action (not shown on your chart) on the regular session chart via tutorial chapter 5. However, I can't go into any details of that chapter with you unless you're a fee-base client of the WRB Analysis Tutorials because the free trial only involves tutorial chapters 1, 2 and 3.

WRB S/R Zone 2 is via tutorial chapter 6 and like tutorial chapter 5...only fee-base clients have access to that info. However, I will give you a trading tip involving all the tutorial chapters. There's a way of monitoring the markets or your trading instrument via what I call "sister trading". This involves following a highly correlated trading instrument with your trading instrument. For example, your chart is QQQQ and you would also be following the Emini NQ or the Nasdaq 100 Composite Index because they are all highly correlated with each other. Therefore, WRB S/R Zones that appears in the Emini NQ or the Nasdaq 100 Index can signal a WRB S/R Zone in the QQQQ if the QQQQ price action has a WRB at the same time while that WRB is not a WRB S/R Zone. doesn't have one itself.



That's what happen with that WRB S/R Zone 2. It was not a valid zone in QQQQ all by itself but because of sister trading there was a valid WRB S/R Zone in Emini NQ that allowed transferring that zone to the WRB in QQQQ.

In addition, sometimes a particular WRB S/R Zone can be produce by different tutorial chapters at the same time. Thus, WRB S/R Zone 2 was also via tutorial chapter 2...a tutorial chapter in the free trial.

WRB S/R Zone 3 is tutorial chapter 2...a tutorial chapter in the free trial.

With that said, the other part of the story involving WRB S/R Zones is that they are excellent sources as profit targets or exit signals. Thus, using your shown Short signal (circle highlight on my attached chart)...you could have used either Zone 1 or Zone 3 as your profit target which would have been a better exit than your shown Buy (flip flop).

Also, you'll notice an annotation as "Advance Profit Target (APT)" on the chart. That's a differnt type of profit target (not discussed in the free trial) involving a special type of WRB Hidden GAP. Yet, WRB Hidden GAPs are discussed in the free trial. I show the APT because it was only for clients as a bonus when they completed the learning of all the tutorial chapters 1 - 12. In contrast, I've now decided to include it as part of the package when someone purchases all the tutorial chapters 1 - 12.

By the way, I know very little about Market Profile although I studied it a month or two several years ago. However, I've met a few traders on twitter that use market profile and I do notice that sometimes some of the WRB Zones I'm watching closely will correlate with something those guys are watching closely in their market profiles. Yet, that could just be a coincidence.

As for my choice of Emini Futures...it's a family choice and fits well with my family schedule. However, they are not my favorite trading instruments. My primary choice is DAX, FTSE100, CAC40, Eurofx 6E or Light Crude Oil futures. Unfortunately, for me to be comfortable in trading those trading instruments I would need to get up around 1am est to began monitoring their price action and that doesn't sit well with my spouse. Thus, as a family guy, I'm really just a 9 to 5 trader in comparison to trading all day when I was single and didn't have a wife nor kids.

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 version 2.0 study guide 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 strategies you're using to help improve the performance of your trade strategies.

To determine the merits of the WRB Analysis Tutorials...you simply compare the results of your trade signals within the WRB S/R Zones versus the results of your trade signals that didn't occur within WRB S/R Zones.

Note: Please read the WRB Analysis Tutorial chapters 1, 2 and 3 study guide at the below link prior to asking any more questions about WRB Analysis.

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

Phone: +1 708 572-4885
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