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Koyaanisqatsi Hototo--wldman out of balance
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Koyaanisqatsi Hototo--wldman out of balance

  #251 (permalink)
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Someone told me...

when price comes down and tests the "noise low" it can often signal a break out the other way (up)

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  #252 (permalink)
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Same guy said...

that VWAP can be considered active support and resistance. Other shared insights aside the 409 bar is an outside in bar at 430 price jumps VWAP. $30 also represents a break of short term range.

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  #253 (permalink)
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As a young trader in the crowd...


I learned that there are a few guys around that have such valuable insight that when they start talking you shut it down and listen. Period> When they are done you keep it shut and hope they start talking again.

"Some bars on a higher time frame are especially significant. I call them auction bars...often they mark important levels...sometimes those levels are marked by a reversal bar.

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  #254 (permalink)
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So when...

the input from a guy like that is 100% non-colinear and supports like a father a method you have traded successfully for years. When his work is complex yet simple, beautiful and brilliant. You humble yourself, close your mouth and sit in awesome gratitude at the feet of a master.

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These people are here among us on futures.io (formerly BMT)

That is an 88 ticker long to the reversal sell....the funny thing is...that is way way closer to the rule than the exception.

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  #255 (permalink)
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that VWAP can be considered active support and resistance. Other shared insights aside the 409 bar is an outside in bar at 430 price jumps VWAP. $30 also represents a break of short term range.

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Those Heikin-Ashi bars are dangerous because they do not show real price action. I like Heikin-Ashi as a trend filter, but not as a price bar....

If I look at real price action, I notice that there is a first contact with the VWAP at 4:12 Central (11:12 CET), which leads to a small reversal. This does not trigger any significant selling within the next 15 minutes. The absence of sellers shows that the market is bullish, and only now there is a long setup. I would not trade any breakout above the VWAP, if it was the first contact of price with VWAP after a few hours.

Also notice how reliable the 2SD bands where, when all bands were parallel. When the bands are expanding, reflecting rising volatility, countertrends should be avoided in all cases.

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  #256 (permalink)
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Yes...

@Fat Tails

Heiken Ashi bars are derivative bars. I have the "close dot" visible there for the purpose of marking the actual bar close. Now I will have to go check to make sure that is the case. I think, but I could be wrong, that price action intra-bar as marked by the close dot does show interaction with the various price levels marked by displayed indicators. I'm checking that too.

For a long time, perhaps 6 months I displayed both the HACO bars and regular candlesticks on the same chart for just that purpose. I may be able to figure out how to do that again or find pictures from those days.

I will check that now.

But, Yes, you are correct in that statement and I should broadcast that from time to time (use of HACO bar) as viewers might not recognize that and become confused.

DB

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Okay...

@Fat Tails

Here on the top are HACO bars, on the bottom are standard price candles. Given the use of close dot to mark bar closes and with the understanding price action or movements of close dot represent current PA, would you see a potential important issue with this type of bar?

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Thank you for you input on this.

Dan

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wldman View Post
@Fat Tails

Here on the top are HACO bars, on the bottom are standard price candles. Given the use of close dot to mark bar closes and with the understanding price action or movements of close dot represent current PA, would you see a potential important issue with this type of bar?

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Thank you for you input on this.

Dan

There is a third option. Use the trend color from the HeikinAshi bars, but display genuine price action.


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  #259 (permalink)
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My color bars...

seem to color funny. What is that I'm looking at on the HACO colored regular bars?

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Auction Bar...


again. Sets up just like yesterday.

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