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Updated February 12, 2019
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February 5th, 2019, 04:01 PM
Los Angeles, California, United States
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
Posts: 116 since Aug 2013
Thanks Given: 5
Thanks Received: 80
Mr III
Thank you very much for the detailed explanation and figures charts. Quite impressive!
You're welcome. I usually trade RTY, here it is today, intraday.
https://www.screencast.com/t/V0bRsEj5
The sell-off into the weekly 50 was also a great trade, safer than the bounce.
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
February 5th, 2019, 04:33 PM
Calgary/Alberta
Experience: Advanced
Platform: Ninjatrader, NeuroShell
Broker: CQG
Trading: CL
Posts: 43 since Jan 2012
Thanks Given: 23
Thanks Received: 21
john5
Thnak you.
What time frame is the chart of the RTY?
Mr III
February 5th, 2019, 08:25 PM
Los Angeles, California, United States
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
Posts: 116 since Aug 2013
Thanks Given: 5
Thanks Received: 80
Mr III
Thnak you.
What time frame is the chart of the RTY?
1 hour. But it does not matter. Weekly, Daily, Globex levels are the same on 3 min or on 1 hour.
February 5th, 2019, 11:28 PM
Calgary/Alberta
Experience: Advanced
Platform: Ninjatrader, NeuroShell
Broker: CQG
Trading: CL
Posts: 43 since Jan 2012
Thanks Given: 23
Thanks Received: 21
john5
1 hour. But it does not matter. Weekly, Daily, Globex levels are the same on 3 min or on 1 hour.
Here is the current chart for the CL 03-19 with the PW Fibs plotted, interesting to observe that today's move stop right at last week 50%.
Mr III
February 5th, 2019, 11:36 PM
Los Angeles, California, United States
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
Posts: 116 since Aug 2013
Thanks Given: 5
Thanks Received: 80
Mr III
Here is the current chart for the CL 03-19 with the PW Fibs plotted, interesting to observe that today's move stop right at last week 50%.
Essentially, the price goes from one 50 to another. For example, put two price channels on a chart. 50 SMA High/50 SMA Low on 15 minutes, on that same chart add 50 SMA High/50 SMA Low on 1 hour. Or to make it simpler, just put 50 SMA and 50 SMA 1 hour on 15 minutes. The trades around the 50 SMA every day. The 1 hour 50 SMA signals where the trend is and if the retracement is relatively safe. If 1 hour 50 is below the trend is up, if 1 hour 50 is above the trend is down.
February 5th, 2019, 11:45 PM
Los Angeles, California, United States
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
Posts: 116 since Aug 2013
Thanks Given: 5
Thanks Received: 80
February 6th, 2019, 12:02 AM
Calgary/Alberta
Experience: Advanced
Platform: Ninjatrader, NeuroShell
Broker: CQG
Trading: CL
Posts: 43 since Jan 2012
Thanks Given: 23
Thanks Received: 21
john5
Essentially, the price goes from one 50 to another. For example, put two price channels on a chart. 50
SMA High/50 SMA Low on 15 minutes, on that same chart add 50 SMA High/50 SMA Low on 1 hour. Or to make it simpler, just put 50 SMA and 50 SMA 1 hour on 15 minutes. The trades around the 50 SMA every day. The 1 hour 50 SMA signals where the trend is and if the retracement is relatively safe. If 1 hour 50 is below the trend is up, if 1 hour 50 is above the trend is down.
Here is teh current chart for the CL 03-9 with the suggested technique. I have added the PW and PM Fibs.
Mr III
February 6th, 2019, 12:06 AM
Calgary/Alberta
Experience: Advanced
Platform: Ninjatrader, NeuroShell
Broker: CQG
Trading: CL
Posts: 43 since Jan 2012
Thanks Given: 23
Thanks Received: 21
john5
That's very intersting! What kind of paint bar study is displayed on your chart?
Mr III
February 6th, 2019, 12:06 AM
Los Angeles, California, United States
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
Posts: 116 since Aug 2013
Thanks Given: 5
Thanks Received: 80
@Mr III
Do you use NT8? How did you get the days of the week to display at the bottom? Is it a study? If yes, would you please share? Thanks.
February 6th, 2019, 12:08 AM
Los Angeles, California, United States
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
Posts: 116 since Aug 2013
Thanks Given: 5
Thanks Received: 80
Mr III
That's very intersting! What kind of paint bar study is displayed on your chart?
This is in Thinkorswim . It is a custom study that paints the bars when they are in/out of the channel.
Last Updated on February 12, 2019