2009.09.10 DRAIN THE BANKS - LIKE A RAT

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

nickohorny
rank: 50+ posts
rank: 50+ posts
Posts: 87
Joined: Tue Feb 15, 2011 2:51 pm
Reputation: 0
Location: Midlands
Gender: Male

Postby nickohorny » Wed Dec 07, 2011 2:59 pm

TheRumpledOne wrote:
nickohorny wrote:Man my feeble brain has been trying to understand what is going on, from looking at the charts and the horizontal lines of the LL/prev LL and HH/prec HH etc I can just purely see the attached...





Hmmm :shock: :shock: :shock:


Nice annotation but you left something out... what is the chart telling you?

Or another way...

What does price crossing below the highest open imply?

What does price crossing above the lowest open imply?


HINT: The open price does not change!


Still struggling lol! Only thing I can think is:

What does price crossing below the highest open imply?
If price crosses BELOW the highest open then at some point a new High Open will be created thus making that one it crossed a 'previous HO' Which signals to me that price is continuing lower??

Should price go ABOVE instead then a new HO will be created ABOVE thus making the one it crossed a previous HO which signals to me price is climbing higher?

Does this have anything to do with the space between the 2 opens?

or if the previous OPEN is ABOVE or BELOW the current one? Eg/ if price goes lower then the recent open will be above current at some point, if other way round it will continue to make a new High open and recent one is below current.

Agh My brain hurts haha
:x :?

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Dec 07, 2011 3:12 pm

Image

<-------------------------------------------------------------------->

The important part is to enter WITHIN 20 pips of the daily low. The RAT REVERSAL is only one entry method.

<-------------------------------------------------------------------->

PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

Columba
rank: 50+ posts
rank: 50+ posts
Posts: 61
Joined: Fri May 21, 2010 4:50 am
Reputation: 34
Location: OR
Gender: None specified

The HOLO conundrum . . . revisited

Postby Columba » Wed Dec 07, 2011 6:48 pm

TheRumpledOne wrote:Brookmyre: You are almost there. Now, what do you SEE? Do not postulate a theory. Look at your chart and tell me what you see!

unreconciled: Can you describe what DEFINES the reversal? That will solve the puzzle!!

HINT: Keep it simple - all you need to trade is a HORIZONTAL LINE!!



What have we learned along the way?

1. As horizontal lines (HL) are crossed take entry in the direction of price movement.

2. A reversal? Price makes a HH retraces a bit, rises again but is unable to take out the HH. If price is not rising, it is falling. We should pay attention to this.

Putting these two ideas together it seems a entry upon crossing the HL from the previous high open (or low open) in the direction of price away from the HH or LL makes sense. And entering on THIS HL is a stronger argument than a random HL entry.

We DON'T know how far it will go in this direction. We can't control that, but we exercise appropriate MM and trade accordingly taking what we can get.

Columba

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Dec 07, 2011 8:26 pm

Columba:

1) that depends... sometimes you only want to trade in one directions

2) If price is not rising, it is falling. YES!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Dec 07, 2011 8:28 pm

nickohorny:

Nothing to do with spaces... only lines.

Do not think.. OBSERVE and SEE!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
slingblade
rank: <50 posts
rank: <50 posts
Posts: 22
Joined: Thu Nov 17, 2011 8:19 pm
Reputation: 0
Gender: None specified

Postby slingblade » Wed Dec 07, 2011 11:29 pm

If price is closest to the HO line and you trade short, the LO line gives you an idea of how far price could potentially move before meeting an established point of resistance. This could be useful in deciding on a target?

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 15544
Joined: Sun May 14, 2006 9:31 pm
Reputation: 3035
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Thu Dec 08, 2011 4:02 am

slingblade, you are THINKING instead of SEEING.

The answer is SIMPLE!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

Brookmyre
rank: 150+ posts
rank: 150+ posts
Posts: 196
Joined: Wed Sep 16, 2009 11:13 pm
Reputation: 7
Gender: Male

Postby Brookmyre » Thu Dec 08, 2011 4:17 am

When control changes, direction changes...

Because the open is the only plotted point that stays the same...if price is below the highest open, then the candle is red and at the moment price is going down...and vice versa...
Last edited by Brookmyre on Thu Dec 08, 2011 4:26 am, edited 1 time in total.
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

User avatar
slingblade
rank: <50 posts
rank: <50 posts
Posts: 22
Joined: Thu Nov 17, 2011 8:19 pm
Reputation: 0
Gender: None specified

Postby slingblade » Thu Dec 08, 2011 4:25 am

TheRumpledOne wrote:Image

Is price going up or down?

What is your reference for the decision?

HINT: Who is in CONTROL, buyers or sellers? How do you determine who is in control?


Price is going up.

Price is above the Open Low line, which is the reference.

Buyers are in control because price continues to move up.

Brookmyre
rank: 150+ posts
rank: 150+ posts
Posts: 196
Joined: Wed Sep 16, 2009 11:13 pm
Reputation: 7
Gender: Male

Postby Brookmyre » Thu Dec 08, 2011 4:27 am

lol, Slingblade...was editing my post when you posted :)
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”