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Redneck

Registered: Dec 2008
Posts: 2359

04-14-12 02:07 AM

The 2nd chart

today\'s move based on yesterday action.gif
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Redneck

Registered: Dec 2008
Posts: 2359

04-14-12 02:09 AM

Potential layout

spy layout on platform.gif
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Redneck

Registered: Dec 2008
Posts: 2359

04-14-12 02:25 AM

Quote from BobbiDigital:

I meant to ask you this previously, would the TIME you enter (and exit) trades differ based on your TF? So an hourly TF, for instance, would you only place trades near 9:00, 10:00, etc? For a 15 minute, only 8:45, 9:00, 9:15, etc? - assuming the right set up is in place (be it from building on a prior TF, or using the bar's open price for a setup - are quick reverses back thru opening price not ideal?)

In other words, utilize the opening price principle on each trade, each bar (by getting in early/right direction)? That would make life a tad simpler (I could focus on setups that could potentially lead to trend bars, avoid chop, etc)

....I started getting quite a complex 'matrix' going w/ trend lines today visualizing a couple potential paths (got chopped up before the real move happened.

BD

No.. TIME is the EXACT SAME on all charts, just broken down into different chunks

If one of your set ups is based on the close of the current candle – then the opening of the next candle is the entry

It if ain’t – then it ain’t

When and where we enter – Must be based on a set up(s)

Now if you can get to the point of seeing how smaller TF candles builds a longer TF candle – then why wouldn’t that be a set up

eta - if the longer TF is up... and the current longer TF candle is up... and price just bounced off longer TF support

And the current trend on your trading TF is up..

You sure as hell ain't gonna short it... and may even contemplate going long

==================================================================================

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I have no clue whether the next bar will be chop… a trend… a head fake… a stop run… or the mother of all trend bars…. And I never will

Trade what you see – and to hell with the rest…..

We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan…
We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan… We have a plan, which include set up(s)… we trade our plan… We have a plan, which include set ups)… we trade our plan…

Redundant ain’t I…. (just trying to drive the message home)

RN

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BobbiDigital

Registered: Jul 2010
Posts: 192

04-14-12 02:40 PM

Long term support was previously broken as well as this week's support line being broken yesterday. Screaming sell with the risk being aggressive buyers could have driven price back up to resistance line (based on yesterday's close).

As is the case after a day spent breaking rules I didn't have my mental cap on yesterday. Two questions:

1. My signals consist of patterns after I've identified potential peaks (tops/bottoms) or valleys (dips to go-with trend). I have never placed a trade after the close, right at the open of a new bar. Isn't taking signals then always entering at the open price of the bar (like I previously asked)? Forgive my ignorance. I need to understand this as I'm not trading off signals (or setups) evidently.

2. Not sure I get the deeper meaning of small TF's building larger ones. Let me try, be easy on me:

Say, you have 6 candles on the 5 min TF, and on the 6th bar price closes in the middle of the range - the open of the 30 min. Once price returns to the high - it is the 5 minute high and 30 minute high. As this move (cycle) continues it begins to drag in longer TF's - more TF's - until support eventually fails and it may or may not repeat the process to the down side. Is this the concept (and ambush points)? The key being the smaller TF structure of the longer TF bar (s/r holding, etc.)

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BobbiDigital

Registered: Jul 2010
Posts: 192

04-14-12 04:57 PM

Throughout the day – focus primarily on the 30 min… while on the 5 min using vertical lines to segregate every 6 candles

Essentially you’re focusing on the longer TF candles…. while- noting on your trading TF – how the longer TF candles are being formed…, by using vertical lines on your trading TF to define each 30 minute candle into what it is comprised of in 5 minute segments

While doing the above, pay special attention to the time, and PA – just as the current 30 min candle closes… and a new candle opens…

RN [/B][/QUOTE]

Is the beginning of each bar a microcosm of the entire bar? (This would explain the importance of the 'open type' a la Market Profile)

You said focus on the PA and time..isn't time fixed?

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Redneck

Registered: Dec 2008
Posts: 2359

04-14-12 08:23 PM

BD

Recall I said there are many aspects to PA… and multiple TFs….

I also said; How small TFs build bigger TFs is but one aspect (Aspect # 1)

My point to repeating this

• I think understanding this first aspect is the foundation to understanding & tying all the other aspects together
• I would like you to try and keep this aspect separate from the rest, and focus on it as you’re trying to understand the entire picture – please

You typed

Not sure I get the deeper meaning of small TF's building larger ones.

Then you typed

Is the beginning of each bar a microcosm of the entire bar?

Exactly…

And this is exactly what I’m trying to convey….And what I’m trying to get you to see/ understand

Smaller TF candles are indeed a microcosm (I use the term microscopic view) into a larger TF candle being created – over the entire path – of (and as) it is being created

===============================================================================

Then once you understand that discrete concept… the next step would be to grasp how a smaller TF – in its entirety – builds the higher TF…

AND

How a smaller TF is a microscopic view into that larger TF – albeit a discrete higher TF candle… or the entire higher TF chart

But for now, and so we don’t get it confused – let’s stick to one higher TF candle being formed… and how that would look in a smaller TF

==============================================================================

Say, you have 6 candles on the 5 min TF, and on the 6th bar price closes in the middle of the range

Taking ONLY this sentence, and using its information to create a candle on the higher TF

1.) What would that specific higher TF candle look like – please describe it
2.) Where, in relation to the preceding higher TF candle – does the higher TF candle described in your quote reside

=====================================================================

Here’s the exercise - all in the longer TF

Ignore everything else you’ve posted, and focus solely on the above quote – please draw me a mental picture in your words

FIRST

Define the range (so we have context)
You can use price levels (upper and lower)… You can use the preceding candle (its hi/ lo… or its open/ close) as the range… or you can use something else – but you define this range in enough detail so I can understand it / so I can see it (and remember I am a dumbass)

NEXT

Define and describe the preceding candle (so we have a reference)
Is it an up candle… is it a down candle…or possibly is it a doji….
How long is it (hi to lo)… how long are the tails (open to hi, and close to lo)… if they even exist
Describe it in enough detail – that I can visualize it in vivid detail

NEXT

Now define and describe the current candle – using only your quote above
Describe how it looks (its open, its close, the body.. the tails… is it an up or down candle…
Describe where it exists in relationship to the range (you defined above)
Describe where it exist in relationship to the preceding candle (you defined and described above)
Last describe what it is doing using tour quote above

Paint a picture so detailed, yet simple - that even I understand it… so that when I visualize it, there is no doubt we are seeing the very same picture

=============================================================

This may sound like a stupid exercise…. but think about it for a moment…

Is trading not seeing what has happened…,
Creating context out of that…,
Figuring out where price is, and what it is doing – within that context…
Then visualizing where price could go next

===========================================================

In doing the above exercise – I’m trying to get you seeing (visualize) how a smaller TF is indeed a microscopic view into a larger TF

How smaller TF candles fit together – to build a larger TF candle…

Ultimately how a smaller TF is the very foundation of a larger TF – albeit a discrete larger TF candle… or the entire larger TF chart

==========================================================

You now have two exercises

Using vertical lines on a 5 minute chart to define 30 minute candles

Verbally describing/ drawing a higher TF – with a range, and preceding candle – for context and reference… then a current candle based on 6 candles in a 5 minute TF

This last one needs to be done with enough specifics, and detail..., yet remain simple enough – that even I can understand it.

Without me assuming or creating anything additional – than the information you provided

RN

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