Opening this thread for discussion and questions about how we tackle WRBs within the Intraday Miniflow….
Please feel free to ask.
All the best!
Saint
Opening this thread for discussion and questions about how we tackle WRBs within the Intraday Miniflow….
Please feel free to ask.
All the best!
Saint
sir, i observed after a bullish WRB there are small bearish candle formation and there is retest of the low of the wrb and market continue its uptrend, should we add the longs when market is retesting wrb low ?
Hi Alex,
As you already know,we basically add over pivot highs or above WRBs…….so,all that is done is to raise the stops to the low of that WRB and we wait.We reverse if it hits.
Saint
— moved to concept thread —
ohh k …actually i was referring to the thread where sir just posted ammended rules regarding move1,2 & wrb…just missed the thread we had on move1,2 Q & A
thankyou for putting my question to the related thread…
Saint Sir,
What if we are long and then get a candle (either continuation or breakout) that made new highs - Good move up, but it fell back before the candle was completed resulting in a huge topping tail. In such a situation do we move stops to the low of that bar or do we leave it where it was before.
Thanks.
same qs i about to ask, infact there must be other imp candles like WRB which hi or low r vital to judge direction of trade.What u explain was a grave stone doji but success ratio of break out break down of those doji's is not as impressive as of WRB, but still worth trying, looking forward for saint sir's views
Hi saint sir,
this qs about ur recent addition of 33 % negation of wrb..
first quoting the part which i didnt get "calculated by calculating the difference between the Open and Close of that bar(not high and low) and divided by 3-filter(put a wider filter than usual" and
"If that 33% is not hit,and it closes below the 50% mark of the previous WRB,raise stops to the low of that bearish candle- filter.If it hits,we reverse.Another scenario is that price moves huge,not triggerring the 33% mark,but goes below the 50% mark,note:we are waiting for its close………if that close is below the 50% mark,we do as above.If it isn't,we wait with our stops at the 33% mark."
if we have a wrb with open and close difference = 30 points, so 33 % wd be 10 points, same way 50 % wd be 30/2= 15 points. then wt u mean by 'price not triggering 33% mark, but goes below the 50% mark' ? i think i misunderstood sumthing, by my logic 33% trigger first then comes 50 %
Hi saint sir,
this qs about ur recent addition of 33 % negation of wrb..
first quoting the part which i didnt get "calculated by calculating the difference between the Open and Close of that bar(not high and low) and divided by 3-filter(put a wider filter than usual" and
"If that 33% is not hit,and it closes below the 50% mark of the previous WRB,raise stops to the low of that bearish candle- filter.If it hits,we reverse.Another scenario is that price moves huge,not triggerring the 33% mark,but goes below the 50% mark,note:we are waiting for its close………if that close is below the 50% mark,we do as above.If it isn't,we wait with our stops at the 33% mark."
if we have a wrb with open and close difference = 30 points, so 33 % wd be 10 points, same way 50 % wd be 30/2= 15 points. then wt u mean by 'price not triggering 33% mark, but goes below the 50% mark' ? i think i misunderstood sumthing, by my logic 33% trigger first then comes 50 %
Alex,let us say that we have this massive WRB………………calculate from the bottom of the bar.33% mark,50% mark,that's all we need for now.Raise stops to the 33% mark when you get the massive WRB.From here a few scenarios can happen in the next bar.
a.Next bar is bullish and goes on to print new highs………great.
b.Next bar is bearish and pulls back 67% from the top and hits our stops at the 33% mark……….we reverse and go short.
c.Next bar is bearish and pulls back >50% and <67% and therefore our stops still sitting at the 33% mark are not hit……..we want to see how this bearish bar closes.
i)if it closes lower than the 50% mark,raise stops to the low of the bearish candle and reverse if triggerred.
ii)if it closes higher than the 50% mark,we keep our stops at the 33% mark as always.
d.Next bar is bearish and does not pull back to the 50% mark,we do nothing.We wait with our stops still at the 33% mark and reverse if triggerred.
Hope this is clear now……………:)
All the best!
Saint
Saint Sir,
What if we are long and then get a candle (either continuation or breakout) that made new highs - Good move up, but it fell back before the candle was completed resulting in a huge topping tail. In such a situation do we move stops to the low of that bar or do we leave it where it was before.
Thanks.
Flock,then it no more falls under the category of WRB………..Again,the tackling is different.Is that a WRB Breakout?And failure?If so,bring your stops to the low of the wide range topping tail.If it's a continuation WRB that fell flat and closed as a Topping Tail,then the answer would be,it depends on the other factors like TF Amalgamation etc.
Saint