DRAIN THE BANKS!! TheRumpledOne - page 88
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2012.07.04 DAILY RAT REPORT
The AUDUSD had the RAT REVERSAL setup today but took back the profits if you didn't take them first. Price bounced up off of the weekly open only to return.
It's the 4th of July but why is America celebrating? INDEPENDENT FROM WHAT?
2012.07.05 DAILY RAT REPORT
USDCHF had the RAT REVERSAL setup. Once price broke through the ATR ZONE, it was time to move the stop up and protect profit.
PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
2012.07.09 DAILY RAT REPORT
AUDUSD triggered a RED RAD REVERSAL at/near the weekly open.
The previous week's low, was a potential target or area to move the stop once penetrated.
PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
2012.07.10 DAILY RAT REPORT
GREEN RAT REVERSAL setup on the AUDUSD at/near the weekly open.
Yesterday's daily flipped from RED to GREEN and closed green. Today's daily candle, tested yesterday's low and reversed triggering a green rat entry.
For those of you who think I post trades AFTER THE FACT, let's set the record straight, the entry rules have been posted many, many times:
GREEN RAT REVERSAL - LONG ENTRY CRITERIA: 1) RED CANDLE CLOSES 2) GREEN CANDLE CLOSES 3) PRICE TOUCHES HIGH OF PREVIOUS GREEN CANDLE - ENTER LONG. .
RED RAT REVERSAL - SHORT ENTRY CRITERIA: 1) GREEN CANDLE CLOSES 2) RED CANDLE CLOSES 3) PRICE TOUCHES LOW OF PREVIOUS RED CANDLE - ENTER SHORT.
You know the entry criteria IN ADVANCE so you can participate in the trade if you choose. I have changed the entry slightly because I am not online 24/7. Instead of the high/low entry trigger, I enter at/near the weekly open.
Remember, STOP LOSS is a function of RISK and POSITION SIZE:
MAXIMUM RISK = 2% * ACCOUNT BALANCE.
STOP LOSS = RISK / POSITION SIZE.
As a trader, you determine your comfortable risk and the position size you are comfortable trading. Then you calculate your stop loss.
"I am not forcing you to accept my concepts. I only request the traders to review the market from time to time keeping in mind my concepts and if found suitable use in the trades or just ignore. Thanks for your opinion."
PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
I have been working on the PRICE TURN indicators.
Price "turns" when the candle color of the current candle is not the same as the previous candle's color. You look for price to cross over the previous candle's open to confirm the turn has been made.
For those who trade trend reversals and/or pull backs, this helps to spot entries.
I made a YouTube video that explains price turn.
This forum makes you wait 300 seconds to reply to PMs... PLEASE DO NOT PM ME!
Post your questions in the thread. Thank you for your cooperation.
PRICE TURN
Price "turns" when the candle color of the current candle is not the same as the previous candle's color. In the above chart the candles that indicate a price turn up are marked in green and candles indicating the price turned down are marked in red.
You look for price to cross over the previous candle's open to confirm the turn has been made.
The DOTS on the candles mark the previous open price level. You can see where price crossed the previous open and then reversed. These are entry points.
If the previous candle has a red line then when price is at/near the previous open (red dot) and moving down, you enter the trade short.
If the previous candle has a greenline then when price is at/near the previous open (green dot) and moving down, you enter the trade long.
But you are only looking at one time frame and that's where the multimeter comes in handy...
Some trend traders like to enter on "PULLBACKS". The multimeter makes it easy to see when price is pulling back to the next higher time frame or continuing the "trend". The light blue color means price is going up and price went up on the previous bar. Think "light blue sky". The dark blue color means price is going down and price went down on the previous bar. Think "deep blue sea".
Look at the M15 chart and you can see price is now turning up and back to the "trend" on M30. H1 is turning up AGAINST the "trend" on H4 and D1. While price is turning down on W1 and going WITH the "trend" on MN1.
Please post any questions you have in this forum. PLEASE DO NOT PM ME WITH TRADING/INDICATOR QUESTIONS.
Every "trend" reversal will start with a "price turn" pattern on the chart.
Identifying this pattern on all of the time frames will help you select trade direction.
I prefer to trade with the WEEKLY direction rather than against it.
When price turns against the weekly direction on lower time frames, I wait.
I will enter when price turns back to the weekly direction.
It is even better when weekly and monthly are in sync.
All you have to do is LOOK at the charts and SEE!!
Some people understand better in English than in pictures, charts, tables, etc...
Don't know about above scale that What type of knowledge we can get to it.