Treat 'em like gaps. Now, Pay Me $500.
So what does everyone think about Wide Range Bar analysis?
- Thread starter FortuneTeller
- Start date
Well, the Master of WRB analysis seems to differ. And he is upset as hell about it, it seems.
Actually, I think Gaps are considered to be WRB's also...
Best to ignore candle wicks when they are outside the range of surrounding bars (likely weak traders who got caught with their pants down - don't use them as a guide puleaze). Yeah I know the textbooks all say to draw from high to high and low to low. Let the academic types do that, traders use logic:-Been waiting for one of these to show up so I could post a chart of it. Did I trade it? No, I had just went into the Political section and was bullshitting.
View attachment 252325
Just laughed my beverage out my nose ya bastard, lol.
hey Suntrader, jes mang that looka lika a good way to anchor a horizontal line to me too. Check that little pop down courtesy of that Engulfing at Resistance at 13:00 to go test that low. Thank you Ms Market. Nice work ST, hope you reaped some coin on that breakout. Nice looking chart presentation. You trade it like that or do you put more stuff on sometimes? I downloaded a setup file for ninjatrader but haven't set it up, lined up free eod data feed and whatnot. Gonna use this chart as the template for how that one will present if the install urge ever overtakes me.
Last edited:
Started up NinjaTrader today. Gonna use your chart as the template for how that one will present. Looks pretty close. The Moving Averages are not displaying at the same places, are not extended to the current day's candle, the horizontal line Starts on a different day, lol. Don't know what the free EOD data source is yet or if I'm set for continuous contract etc. So far so good though.
Last edited:
IF one was a breakout trader where would you then take the trade?
Of course this is all hindsight but either once WRB broke above horiz line or the following bar once it only retraced 50% of WRB. Next two doji's also show lack of strong selling after breakout. Then there is that trend prior to this sideways zone was up and until things change it is expected to continue until shown otherwise.