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THREE SET UPS


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THREE SET UPS

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  #371 (permalink)
 Jeff Castille 
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shodson View Post
Nice job on the reversal bar!

I'm thinking I'd like to incorporate that setup next, but I think I want to study and research the inside bar some more because I have some other inside-bar/range breakout setups in other markets and time frames I've studied and am interested in finding out how this could benefit those as well.

I got +66 ticks on the 3 inside bars and avoided the losing IB during news.

+10
+10 / +18
+10 / +18
===========
+66 ticks



Nice work !!

Last week you had mentioned examining stops......any progress there?

Jeff

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  #372 (permalink)
 Silvester17 
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shodson View Post
Nice job on the reversal bar!

I'm thinking I'd like to incorporate that setup next, but I think I want to study and research the inside bar some more because I have some other inside-bar/range breakout setups in other markets and time frames I've studied and am interested in finding out how this could benefit those as well.

I got +66 ticks on the 3 inside bars and avoided the losing IB during news.

+10
+10 / +18
+10 / +18
===========
+66 ticks



jeff,

a question about trade # 3. would you have taken this trade as well? of course it's a good trade because it's a winner. but as for the rules, you would need a spike in volume after the move up, then you need a bearish inside bar (close lower than open), and then you would look for a short trade. but in this example you have a move up with declining volume, a bearish inside bar, and then a long trade.

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  #373 (permalink)
 Jeff Castille 
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Hey Silvester,

Yes, I took this trade......see post #365. I looked at it as a double inside bar.

Jeff

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  #374 (permalink)
 shodson 
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Jeff Castille View Post
Nice work !!

Last week you had mentioned examining stops......any progress there?

Jeff

Upon further review I see a bug in my strategy: The 3rd trade was a double inside bar, but I didn't take note of the 2nd inside bar, I was still waiting for a breakout of the first inside bar because the state machine was in InsideBar mode and not looking for further setups anymore, which helps explain why I got so much slippage, but still got a winner (luckily). I'll have to adjust that.

To answer your question, no, I haven't played with some of the alternate stop scenarios yet. I've been focused on just getting the ATS to work in real-time and squashing bugs.

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  #375 (permalink)
 lolu 
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Two quick HITs on REVERSAL BAR, just now. I'll post the LIVE Real-time video of these trades later; I need to leave my trading desk and go somewhere now.

Lolu

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  #376 (permalink)
 shodson 
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Be careful of news at 10:00 and 10:30 Eastern time


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  #377 (permalink)
 lolu 
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Got the third HIT on double INSIDE BARs; and I'm done for the day.

Lolu

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  #378 (permalink)
 Jeff Castille 
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+23 on the day.........one of those days that I wish I'd only traded the morning.

First trade....inside bar

Second trade.....outside bar right before lunch.......targets filled during lunch.

Third trade.....failed outside bar.....moved stop up to low of subsequent bar and got stopped out

Fourth trade....looking for a push into the close.....this was not a three set up trade.

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  #379 (permalink)
 shodson 
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Jeff Castille View Post
+23 on the day.........one of those days that I wish I'd only traded the morning.

First trade....inside bar

Second trade.....outside bar right before lunch.......targets filled during lunch.

Third trade.....failed outside bar.....moved stop up to low of subsequent bar and got stopped out

Fourth trade....looking for a push into the close.....this was not a three set up trade.

Yeah, those afternoon outside bars looked like profit killers. good thing I'm just trading inside bars for now.

I got the 1 inside bar setup after the news: +28 ticks


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  #380 (permalink)
 Fat Tails 
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I traded an inside bar today, however I did not take the breakout, but faded it. Here are the details.

On the YM 5 min chart the trend of the market was up, when an inside bar occured at 8:50 PM CET (2:50 PM ET). The inside bar also was a narrow range 7 bar, which means that it had the lowest range of the last seven bars.

There were three reasons, why I did not follow the bears to trade the breakout but faded it.

Trendline

The market was still in an uptrend, as the trendline had not been broken.

Support/Resistance

The inside bar was just sitting on a fibonacci confluence line. This line had already been confirmed earlier during the day, as it also became the low of the opening range (initial balance 1 hour). So the inside bar was clearly above support.

Climax and Churn Volume

The better volume indicator showed a climax bar (light blue) followed by a churn bar(yellow). This is exhaustion volume followed by stopping volume and often leads to a reversal. Note: This rule applies on balancing dayss only, not on trending days!

Summary

The trend on the chart was up. Prices retraced to a strong support line. When approaching the support line, a climax bar formed followed by a churn bar, which was an inside bar. It was very likely that the bearish breakout would fail and trap some bears. The pattern was also a bullish Harami, but I am not using those candlestick patterns.

So I entered when prices moved back to the fibonacci line. The trade was also confirmed by my 15 min chart. First half of the position exited at the floor pivot S1. Second half stopped out when price retraced back to floor pivot S1 should have given more wiggle room.

The inside bar is similar to John Carter's squeeze. You will likely see a breakout if you expect volatility to increase, but you have to use additional tools to determine the likely direction of that breakout.

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