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TF day trading
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TF day trading

  #391 (permalink)
Elite Member
houston
 
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Widening B. Bands


bluemele View Post
I had the 76 fib pullback on the longer term chart on that long. You are right, that would have been a nice entry. (I was done as I couldn't focus)

If you trade off bearish divergence after a big run, then I believe you will make a lot of challenging shorts possibly. Since QE2 issues, there have been a TON of setups just like this where the market then shoots up up up.

Separated (WIDE) bands just means VOLATILITY or MOVEMENT and it has two choices. 1. BULL FLAG (which is what has been happening regardless of separation and 2. A retracement to some good area.

I am now cautious on what you have perceived as it is what I learned also, but take a look back in early February and boy, oh boy, that would have killed you much like it did me. I pretty much use divergence as a last indicator after AREA, MACD's, the way the bars are moving up/down (strong/weak) and then divergence last. I got my ass handed to me the last few weeks trading divergence.

I have pretty much given up on divergence unless the market has been open for a while, trending well and then forms some divergence. With the government intervention it has been like standing in front of a freight train. The market dynamic using this system has changed significantly in the last few months and it is eye-opening.

That is why I believe it o-so-important to see different market attitudes to know what is possible, likely etc. if it doesn't work out.

Thanks for your input, and it is greatly appreciated! I just have a block accepting some of it. haha...

Yes, I looked up B. Bands and it said they measure volatility. However, in the videos Henry says widening bands mean sideways. ???

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  #392 (permalink)
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HighRise1202 View Post
Yes, I looked up B. Bands and it said they measure volatility. However, in the videos Henry says widening bands mean sideways. ???

Trailing Bands mean Sideways, not widening Bands.

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  #393 (permalink)
Market Wizard
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HighRise1202 View Post
Yes, I looked up B. Bands and it said they measure volatility. However, in the videos Henry says widening bands mean sideways. ???

to measure volatility, bollinger bands can certainly do that. however to make them work correctly, you need time based charts. not saying they are useless for tick charts, just not for measuring volatility.

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  #394 (permalink)
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Silvester17 View Post
to measure volatility, bollinger bands can certainly do that. however to make them work correctly, you need time based charts. not saying they are useless for tick charts, just not for measuring volatility.

I have used BB's on time and tick based charts and I do agree they work better as boundaries and price action areas (like we use Keltners) on Time Based Charts vs. Tick.

Wide Bands means that volatility did occur etc.. Close bands, low volitility, ready for nice moves.

Think about what needs to happen to create a 'trailing band' technically and what do you think that means? There is your answer.

Hint: A very big move.

What does price typically do after a very big move?

Hint: Stall, Consolidate, Range, wait for a direction from the 'people'

What direction will it go after this consolidation?

Hint: Your guess is as good as mine, go to a higher time frame to make an educated guess.

That is all that I do or know, but you will find that it will always (almost always always always) be a major area where it consolidates.

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  #395 (permalink)
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-1.9 points today

Ok, wow, what a market!

I could not get filled on my short entries. Chase, chase, chase, chase!

Had I not had my 3 limit of trades I would have probably been ok today, but it saves me from bigger mess! I figured it was coming down and nailed the price action, but I guess I didn't see the big 'pops' happening.

What is up w/ this lack of volume? 15 - 144 tick bars before the market open??? Holiday today? Did I miss something?

video

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  #396 (permalink)
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+1 tick per contract

Ok, 1 good entry, no follow-through hit it perfect at the 76 retrace and I was patient.

Due to the slow movement and lack of volume I was a bit cautious. I am seeing the price action pretty clearly, but sure would save myself some effort if I just followed Horst's advice...

2 other BE trades for trend continuations which were not good trades.

Video

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  #397 (permalink)
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Skipping Stone


bluemele View Post
Ok, wow, what a market!

I could not get filled on my short entries. Chase, chase, chase, chase!

Had I not had my 3 limit of trades I would have probably been ok today, but it saves me from bigger mess! I figured it was coming down and nailed the price action, but I guess I didn't see the big 'pops' happening.

What is up w/ this lack of volume? 15 - 144 tick bars before the market open??? Holiday today? Did I miss something?

I made a gift in the same area you did. Did you notice the 610? It's pattern is what I call a skipping stone. Horst pointed it out and likes it. It's a low curve of BBs that slows coming into the band. Then it skips and continues on another low curve or straight.

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  #398 (permalink)
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HighRise1202 View Post
I made a gift in the same area you did. Did you notice the 610? It's pattern is what I call a skipping stone. Horst pointed it out and likes it. It's a low curve of BBs that slows coming into the band. Then it skips and continues on another low curve or straight.

Not sure what you mean? You mean a bull flag bounce off the band when it hits support? I looked at it again but could you post an image? Always up for learning!

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  #399 (permalink)
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Skipping Stone


bluemele View Post
Not sure what you mean? You mean a bull flag bounce off the band when it hits support? I looked at it again but could you post an image? Always up for learning!

Image attached. The pattern looks like a low curve, slowing down, curving gently to the band, then skipping off...just like a stone off water. This is a pretty fair example except for the one zigzag before the skip.

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TF day trading-skipping-stone.jpg  
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  #400 (permalink)
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HighRise1202 View Post
Image attached. The pattern looks like a low curve, slowing down, curving gently to the band, then skipping off...just like a stone off water. This is a pretty fair example except for the one zigzag before the skip.

Yup! Bullflag is what I call it. Lately if it is in that direction it skips a TON!

When I first started this method it was the opposite. When it would look like that, it would go short in a heartbeat, but the shorts would just skip all the way to the bottom! It is coming from the side as Henry says, so not as strong.

Lately what is interesting is if you have a band narrowing and large separation from the top then it will just bounce on the two bands and keep going up! The only thing I watch for is how separated the 377 is if it is already underneath the band. Still, hard to predict as with that picture you would expect it to get below the band!

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