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The Italian Job


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The Italian Job

  #331 (permalink)
Milan (I)
 
Experience: Advanced
Platform: Ninjatrader
Broker: Kinetick
Trading: FDAX,6E,CL,YM,NQ,ES
 
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Posts: 1,653 since Oct 2010
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Eric j View Post
Very nice trading RRS . I wanted to ask you what the triple reversal pattern is , Im not familiar with your paint bar study and dont have nt7 installed to download it . Also , have you considered entering as price starts to indicate momentum is picking up after its encountered the outer bands ? For example , price encounters the outer resistance band then a bar closes as part of a bearish reversal pattern you deem likely to continue downwards . You may have explained these and sorry if I missed it , thanks and keep up the great posts buddy .

The paint bar study is called AuctionBars by Fat Tails (it isn't in futures.io (formerly BMT) download section), by coloring the candle it is easier to identify patterns. The study incorporates several patterns (see pic attached). As a countertrend hunter I am interested in reversal bars, gold for reversal down and dodgerblue for reversal up. The problem with candle patterns is reliability, I found these candles particularly reliable after a long up/down trend. I use them to manage the trade and when they are in favor of it they give me a good psychological edge, which is crucial for my analysis.


Reversal Bars
-> They must have a tail.
-> The length of the tail must must exceed a threshold in terms of average true range.
-> The length of the tail must be significant compared to the prior bar's range.



Concerning your suggestion it is a good idea, the only problem I see is that for smaller targets you might miss the momentum, especially if the market is moving fast. I also noticed that by averaging down or up without waiting for a reversal pattern I always position myself close to the bottom or top of the reversal, and consequently increase the odds for a better profit.

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  #332 (permalink)
NY
 
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Totally agree on your view on "missing the move" or being positioned in anticipation of the reversal . As long as the odds are in that concepts favor and you're positioned consistently Im convinced its worthwhile . Im familiar with the auction bars and thats some brilliant work by Fattails . I have found though that the retracement preceding the reversal pattern is where my focus is best placed . The testing of a supply or demand level , even a slight one in relation to market mood , sets up the watch for a candle pattern back towards the bias for me .

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  #333 (permalink)
Milan (I)
 
Experience: Advanced
Platform: Ninjatrader
Broker: Kinetick
Trading: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,215 given, 2,079 received



Eric j View Post
Totally agree on your view on "missing the move" or being positioned in anticipation of the reversal . As long as the odds are in that concepts favor and you're positioned consistently Im convinced its worthwhile . Im familiar with the auction bars and thats some brilliant work by Fattails . I have found though that the retracement preceding the reversal pattern is where my focus is best placed . The testing of a supply or demand level , even a slight one in relation to market mood , sets up the watch for a candle pattern back towards the bias for me .


I will pay more attention on your last suggestion, might avoid some stops due to strong trending days.

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  #334 (permalink)
Milan (I)
 
Experience: Advanced
Platform: Ninjatrader
Broker: Kinetick
Trading: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,215 given, 2,079 received

CL Long 6 contracts, target Vwap +1609$

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  #335 (permalink)
Milan (I)
 
Experience: Advanced
Platform: Ninjatrader
Broker: Kinetick
Trading: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,215 given, 2,079 received

6E Long 6 contracts, target on R +723$

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  #336 (permalink)
Milan (I)
 
Experience: Advanced
Platform: Ninjatrader
Broker: Kinetick
Trading: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,215 given, 2,079 received

My daily recap:


Cumulative profit at quick summary

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The following user says Thank You to redratsal for this post:
 
  #337 (permalink)
austin, texas
 
Experience: Intermediate
Platform: ninja trader
Trading: currency futures
 
Posts: 503 since Jan 2011
Thanks: 14 given, 233 received

Redratsal, I want to tell you I really appreciate you sharing your template with us and your trading method. I have some questions on your templates, if I may.

Where can I find the following and what are the settings for your indicators:

1. Auction Bar
2. Fibonacci Zone
3. VWAPV32
4. Jeffs Volume Alert

Once again I want to thank you for your kindness.

"One candle that lights another candle losing nothing but gains a brighter room."

Thanks
Hector

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  #338 (permalink)
Milan (I)
 
Experience: Advanced
Platform: Ninjatrader
Broker: Kinetick
Trading: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,215 given, 2,079 received


hector24 View Post
Redratsal, I want to tell you I really appreciate you sharing your template with us and your trading method. I have some questions on your templates, if I may.

Where can I find the following and what are the settings for your indicators:

1. Auction Bar
2. Fibonacci Zone
3. VWAPV32
4. Jeffs Volume Alert

Once again I want to thank you for your kindness.

"One candle that lights another candle losing nothing but gains a brighter room."

Thanks
Hector

1 and 2 are not on futures.io (formerly BMT) you need to PM Fat Tails
3 You can use the latest version V33

4 #1289


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  #339 (permalink)
austin, texas
 
Experience: Intermediate
Platform: ninja trader
Trading: currency futures
 
Posts: 503 since Jan 2011
Thanks: 14 given, 233 received

Thanks Redratsal, I like your candle, great image. It looks so powerful.

Thanks
Hector

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  #340 (permalink)
austin, texas
 
Experience: Intermediate
Platform: ninja trader
Trading: currency futures
 
Posts: 503 since Jan 2011
Thanks: 14 given, 233 received


Redratsal, may I ask what the indicator is on the bottom of your range chart, its a histogram of something it looks like. Also on your VWAP may I ask what your settings are.

Thanks
Hector

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