Could you please explain what you mean with the inside bars etc... The chart shows exactly one of my setups. Where is your trade entry and where do you have the stop?
take a closer look at his graphic, the high and low of the inside bar are within (or inside) the entire range of the previous bar. the exact opposite of an outside bar, or engulfing bar as some prefer to call them.
Those two used to trade in an IRC channel called #tradingspace years ago. Suzie was mostly learning at the time but Anek was in another dimension, amazing speculator. Now he has a private channel in IRC but sadly no one is allowed inside. Last time I messaged him, he recognized me from the time I spent with him in #tradingspace, but he just does not accept anyone no matter how hard you try. Not sure about Suzie never saw her again in the network. No Heat
I remember someone ... never posted any entries only exits. Had a live room for a short time .... one time he finally posted an entry and when it was 10 points off side said his dog just got ran over. No one questioned it.
spd, thank you, I know what an inside bar is. However its not clear to me what the original poster wants to say with them. Is he waiting for inside bars after a false break (fakey)? Is he waiting for inside bars after a range breakout? There are many possible trade entries on his chart, depending on the strategy used. It would be good to know what he is waiting for exactly. Regards Croupier
Found this video about the fakey I like this one, on the first chart posted in this thrad I was looking at the fakey from the double top. Now I understand more what krtrader meant. <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/xJjtmJh5_tc&color1=0xb1b1b1&color2=0xcfcfcf&hl=en_US&feature=player_embedded&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/xJjtmJh5_tc&color1=0xb1b1b1&color2=0xcfcfcf&hl=en_US&feature=player_embedded&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="425" height="344"></embed></object>
spd Would you mind explaining how to got to inside and outside bars being opposites?? I use 6 formations relative to inside bars and only have one outside bar. And, of course, there are two other formations which are exclusive of the 7 formations I mentioned. Someone mentioned price action is the consideration of a forming bar compared to the bar just before it. Have you ever seen a forming bar go through 7 of the 8 iterations possible before the outside bar completed the timeout of becoming a completed bar? Here is an OP trading a relatively slow fractal where every bar moves through a huge multiple of trading costs per bar. He is looking for set ups very slowly and sees the forming bar become many different things on its way to becoming a completed bar. How many sub fakies does he get to see before the final fakey is set in place?? The subject of the thread is Price Action Strategies. One subset of about 30 is the most common successful sub set. Few of the components contain the contradictions in the ballpark he is playing in. Contradictions is OT (Off Topic for the OP). Those two red lines look like rather long duration MA's
The shape of volume on a 15 minute chart is the best resourse for gating and filtering in high money velocity trading. High money velocity means taking all or nearly all of the market's continuing offer through price change. Price change is an important consideration when planning a Price Action strategy. Imagine yourself trading. Lets say you use price targets as part of your strategy. As time passes and you see how volume is forming your half moon, do you recongize when your price target can no longer be met? We both know that you set the target at a time when, in moon talk, volume was waning or you would have hit your traget and moved to the next trade. You can thus conclude, from now on that the half moon is helpful. You miss all price targets when the volume is waning and you hit all targets when the volume is waxing. Have you as yet figured out when Price BO's occur relative to waning and waxing? you only get one a day as you atch the chart you described. when you change charts, how much of a change is required to get yoiur problem off the table even further off? Do you think the OP will ever catch up to you?
I have been studying price action alot recently and it's been making my trading go alot more smoothly. Before I was trying to figure out how every little indicator worked and what not. Which I have finally realized is a fruit-less effort. Have you seen any of Nial Fuller's videos on youtube? What is your opinion of his price action methods? He is one technique called the "fakey" I believe, it seems pretty interesting. Let me know if you can't find him on you tube and will send you a link. Take care - Krtrader09, are you the same person (pricetrader99) who wrote the above on Traders Laboratory? The "fakey" thing is what caught my eye. Bruce