TheStrategyLab.com Price Action Trading Support Forum

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
PostPosted: Fri Mar 04, 2022 12:38 am 
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Joined: Thu Mar 03, 2022 3:23 pm
Posts: 5
I have 2 questions, one is described as sentence, the other one is in attached picture.
1 In your chapter 1, you wrote :“ All WRB Hidden GAPs (unfilled) can be used as profit targets when they occur prior to trade entries and used as profit targets that occurred after trade entries.”, can you give an example of “used as profit targets that occurred after trade entries”?


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question 2.png
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 Post subject: Re: Questions
PostPosted: Fri Mar 04, 2022 10:45 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4331
Location: Canada
Hi,

The forum here is undergoing maintenance (fixing codes) and I'm creating a new forum that will not be ready for several months. If you get a white blank screen after submitting a message post...don't panic...your message post was sent. Thus, don't hit the refresh button multiple times while getting that white screen because it will submit the same message post...multiple times.

---------

With that said, I've corrected your chart to show how to properly compare intervals 1, 2 and 3.

Attachment:
wxy795709-chapter-1-WRB-Hidden-Gap-Explanation.png
wxy795709-chapter-1-WRB-Hidden-Gap-Explanation.png [ 215.2 KiB | Viewed 60 times ]


The below chart answers your question about using prior Up WRB Hidden Gaps (shown on the chart in yellow numbers as 1 and 2) that are unfilled at the time of a Short entry...using a prior Up WRB Hidden Gap interval as a profit target.

Yet, the primary goal is a WRB pt1 that forms "after" your Short entry. In fact, any WRB interval or WRB Hidden Gap interval that forms "after" your Short entry...those new WRB intervals or new WRB Hidden GAP intervals are the primary profit targets.

In contrast, Up WRB Hidden Gap intervals (shown as yellow numbers 1 and 2) that formed prior to your Short entry are secondary profit targets and should only be used as profit targets for those that have a deep understanding of the price action that they're trading...typically takes several years of experience with trading with WRB Analysis.

Attachment:
wxy795709-Profit-Targets.png
wxy795709-Profit-Targets.png [ 143.88 KiB | Viewed 56 times ]


I highly recommend you use profit targets that you've been using in your trade signal strategy that you were using prior to learning WRB Analysis but keep statistical analysis data of the WRB profit targets (WRB pt1, WRB Hidden GAP and prior WRB Hidden GAP intervals) for comparison to determine which is better and when to use which one in particular types of price action.

For example, for some price action...I will use a WRB pt1 as a profit target. Other types of price actions...I will use a WRB Hidden GAP interval as a profit target when it develops after my trade entry. Other types of price actions I will use a "prior WRB Hidden GAP interval" as a profit target.

Just the same, in other types of price actions I will use a "prior WRB Zone" as a profit target.

Thus, there are many types of WRB profit targets. Your trade signal strategy, its quantitative statistical analysis and the current price movement of whatever it is that you're trading...will determine which type of profit target you should be looking for.

This is the reason why I highly recommend to traders to use a professional trade journal software so that they have the data to tell them how their trade strategy performs in certain types of price action.

For example, one type of price action you'll know to have a profit target only as a WRB pt1. Another type of price action you'll know to have a profit target as a WRB Hidden Gap pt1 and another type of price action you'll know to have a prior WRB Hidden Gap interval that occurred before your trade entry as a profit target.

You can not determine this intuitive and must rely on statistical analysis to help you determine what type of profit targets to be using.

Yet, until you become a very experienced trader that uses WRB Analysis and you have the statistical analysis of your trade performance...best to take a WRB pt1 because it's much easier to get that profit target in comparison to the other types of profit targets that I mentioned above.

Note: Your WRB pt1 can show up in a still-developing interval. For example, pretend you're using the 30 min chart interval for your trade strategy...a WRB pt1 may show up fast at 19 mins in a 30min interval chart...

You need to learn to take that WRB pt1 because it could retrace back against your profits in those remaining 11 mins of the interval especially if the price action on that trading day is very volatile. Yet, if your current profit target strategy produces better trading results...you obviously will not be using WRB Analysis as profit targets.

Regards,
M.A. Perry


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