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Here's another nugget: R3alW0rldF0r3x


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Hey All,

Here's another nugget. Take this info and apply it to your trading:D. Great info for all PA traders. What you learn is how price validates a R/S level or zone (Please note). By having candlestick bars probe at least twice before breaking through and entering via pull-back. Examples of S/R area given are pivot lines. But you can use this technique to identify pullback entries in other forms of S/R i.e Market Profile/Fibs/PA areas/Camarilla...etc. The point I think is how the (ebook) filters the setups using this technique. Hindsight you will see DB/DT in the S/R area before the break and entry.

 

Enjoy,

http://www.megaupload.com/?d=D8MZORDW

 

Ninjatrader

(press the button to show your love):x

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Thanks for this one ninjatrader :)

 

The technique I'm aware of though the extra tips and hints are invaluable.

 

In fact, the whole system is so well documented that (dare I say lol) it *may* be possible to create a decent EA from it.

 

This would need to only trade Wed-Fri, from 07:00-17:00 GMT and running on pairs such as EURUSD, EURJPY, EURNZD, EURCAD and GBPAUD which are shown in the doc.

 

Candles crossing pivots are easy to check and so is a retracement in the next candle (or one of the next 3 candles).

 

To determine the trend we can use a large period MA or count the bars on a typical screen (around 70) and then measure the price now compared to 70 bars back. If the price difference is more than say 4 times the average hourly candle size taken over 70 candles - then we're trending enough to try a trade.

 

We can set stops to b/e when the entry candle closes and target the next R2/R3 or S2/S3.

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  • 4 weeks later...

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