in other words the when always coincides with the where , so again just IMHO irrelevant but will be happy to be shown by someone a lot smarter than I that i don't know what i don't know
Nice post. Interesting how fast it was buried under not very useful comments, after some good time of silence in the thread. About nysestocks, the guy called “the expert” sounds like him for me: https://www.trade2win.com/threads/how-to-trade-full-stop.87916/ I stumbled upon other instances of him here in this very thread and in other places.
I can see looking back through this thread that you had a big a-ha moment in it. I haven't found the redneck post you mentioned yet. It's such a shame all the early charts are no longer there to learn from. "Great post, WRB and NRB and KR's levels of real significance" "well to me it all linear"... hmm, I'm having trouble understanding how these 2 quotes fit together. "all linear" to me suggests that price moves up and down and whether it's in m1, m5, daily or monthly candles it really doesn't matter..it's all just one big candle? The packaging of time within a candle isn't important? But then...how would we have WRBs and NRBs to trade off if we don't define these candles within a set timeframe? A WRB 5min candle looks completely different in m1 candles. A WRB 5min candle is completely hidden in an H1 candle....or am I completely overthinking this and you just mean WRB NRB daily candles? I'd love to learn more from this thread so any scraps you could throw me to work on would be most appreciated. Regards RR
And seeing as you left this post, I should at least make an effort to understand it. I see the days you mention are a WRB followed by a NRB. On the 9th it runs the stops of the 8th high and low (white boxes). On the 10th it takes the stops below the low of the 9th. It keeps going down, but there is that retrace I talked about on my first post that would allow a trader with say 2 positions to clear that traded without and damage done. I know I'm missing more "obvious" stuff..but I just can't "see" it yet
baron193 - "I do use fibs, not because of the "magic" numbers but because it is a great tool to display the previous days high and low and also for another reason which i shall not reveal." Hmm..interesting. I'm not a big believer on actual fib numbers either.. Yeah, sometimes they work...but is that deliberate price bouncing just to keep folk interested in the whole magic fib number phenomenon? Ok,,the obvious way to use the fib tool if not using actual fib numbers would be to show the midpoint of yesterdays range (50% of H-L). I know price often bounces from here on first touch the following day..but it's not a given. I guess you could also mark the precentages of yesterdays range too...25,50,75 and maybe more maths friendly extensions like +/- 25%,50%,75%,100% ? View attachment 287780