Reading Price Charts Bar By Bar

[Snake.Head]

Nice Analysis Snake.head,

Can you once post full forms of abbreviation used for better understanding.

Thanks

Abbreviations
1L,2L - 1 legged move, 2 legged move.
1PB - The first pullback in a day or the first pullback after 1Rev.
1Rev - The first reversal of the day. Also see OR.
A2 - A second attempt to reverse a pullback move near the ema. A second failed attempt to reverse the trend and therefore a continuation signal. If its too far from the ema it may not qualify to be an A2.
BO - Breakout. Price has moved beyond a price action barrier such as swing high, ema, trendline, etc.
BP - Breakout pullback. Price pulls back often back inside the price action barrier that was broken.
BPB - Breakout Pullback.
BT - Breakout Test.
BW - Barb wire. Three or more horizontal bars with at least one being a doji. Similar to TTR.
fBO - A failed breakout. Most first attempts to breakout fail.
FT - Follow Through.
H1 - The first time a bar ticks above the high of a previous bar in a down move. First attempt to reverse a down move.
H2 - Second time a bar ticks above previous bar in a down move after the H1 and fH1.
L1,fL1,L2 - Inverse of H1,fH1,H2 in an up move.
MM - Measured move. A 1:1 move expected due to certain price action. For example, price is likely to go 2 points above a breakout bar thats 2 points long.
OR - Opening Reversal, A reversal after a trend move attempt in the first hour.
TTR - Tight trading range.Overlapping price movement that reverses back and forth after moving a tick or two beyond the previous attempt.
W - Wedge Three pushes up with the third push overshooting a trend channel line or at least touching it. A reversal signal makes it a W reversal.
W1P - The first pullback that allows an entry in the new direction after a W reversal.

 

[manojborle]

Hi Snake.Head
Very nice analysis.
Can you please post the afl for Al Brooks which you are using ?
It would be really a help

Thanks

 

[Snake.Head]

Hi Snake.Head
Very nice analysis.
Can you please post the afl for Al Brooks which you are using ?
It would be really a help

Thanks

Nothing special in afl 20 EMA of 5min,15min and 60 min
Or else you go with 20 EMA 60 EMA and 240EMA/ If multi timeframe ema is support in your charting

_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g, Vol " +WriteVal( V, 1.0 ) +" {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 )) ));Plot( C, "Close", ParamColor("Color", colorDefault ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 


_SECTION_BEGIN("EMA 5 MIN");

TimeFrameSet(in5Minute);
m5= EMA(Close,20) ;
Plot(TimeFrameExpand(m5, in5Minute), "", ParamColor( "5 Min Color", colorBlue ), ParamStyle("Style", styleDashed));
TimeFrameRestore();
_SECTION_END();

_SECTION_BEGIN("EMA 15 MIN");
TimeFrameSet(in15Minute);
m15= EMA(Close,20) ;
Plot(TimeFrameExpand(m15, in15Minute), "", ParamColor( "15 Min Color", colorGrey50 ), ParamStyle("Style", styleDashed));
TimeFrameRestore();
_SECTION_END();

_SECTION_BEGIN("EMA 60 MIN");
TimeFrameSet(60*in1Minute);
m60= EMA(Close,20) ;
Plot(TimeFrameExpand(m60, 60*in1Minute), "", ParamColor( "60 Min Color", colorLightGrey ), ParamStyle("Style", styleDashed));
TimeFrameRestore();
_SECTION_END();

_SECTION_BEGIN("Bar Count");
iBars = ParamToggle("BarCount","No|Yes",1);
if (iBars) 
iBars = BarsSince( Day() != Ref( Day(), -1 ) );
for ( i = BarCount - ( LastValue( iBars ) + 0 ); i < BarCount; i=i+3 )
{
    j[i] = abs( ( LastValue( BarCount ) - 2 * i - ( LastValue( iBars - i ) ) - 2 ) );
    PlotText( NumToStr( j[i], 1 ), i, L[i] - L[i]*0.003, colorBlack );
}

_SECTION_END();

 

[manojborle]

Nothing special in afl 20 EMA of 5min,15min and 60 min
Or else you go with 20 EMA 60 EMA and 240EMA/ If multi timeframe ema is support in your charting

_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g, Vol " +WriteVal( V, 1.0 ) +" {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 )) ));Plot( C, "Close", ParamColor("Color", colorDefault ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 


_SECTION_BEGIN("EMA 5 MIN");

TimeFrameSet(in5Minute);
m5= EMA(Close,20) ;
Plot(TimeFrameExpand(m5, in5Minute), "", ParamColor( "5 Min Color", colorBlue ), ParamStyle("Style", styleDashed));
TimeFrameRestore();
_SECTION_END();

_SECTION_BEGIN("EMA 15 MIN");
TimeFrameSet(in15Minute);
m15= EMA(Close,20) ;
Plot(TimeFrameExpand(m15, in15Minute), "", ParamColor( "15 Min Color", colorGrey50 ), ParamStyle("Style", styleDashed));
TimeFrameRestore();
_SECTION_END();

_SECTION_BEGIN("EMA 60 MIN");
TimeFrameSet(60*in1Minute);
m60= EMA(Close,20) ;
Plot(TimeFrameExpand(m60, 60*in1Minute), "", ParamColor( "60 Min Color", colorLightGrey ), ParamStyle("Style", styleDashed));
TimeFrameRestore();
_SECTION_END();

_SECTION_BEGIN("Bar Count");
iBars = ParamToggle("BarCount","No|Yes",1);
if (iBars) 
iBars = BarsSince( Day() != Ref( Day(), -1 ) );
for ( i = BarCount - ( LastValue( iBars ) + 0 ); i < BarCount; i=i+3 )
{
    j[i] = abs( ( LastValue( BarCount ) - 2 * i - ( LastValue( iBars - i ) ) - 2 ) );
    PlotText( NumToStr( j[i], 1 ), i, L[i] - L[i]*0.003, colorBlack );
}

_SECTION_END();

Thanks for the help :thumb:

 

[RNS]

Relcap 24-11-15
Bar 1 Price started from below y close and bull took charge of it BO
Bar 4 Bear bar with strong close Let see how FT
How bear attempted were take out by bulls two time at bar 8,12
Bar 12 Good Bull bar,could have enter on this bar
Bar 17 BO of BW
MM for bar 17-18
Bar 20 Entry at close of bar SL at low Bar 18
Bar 23-24 Good FT
Bar 28 mDT Add more on close of bar
Bar 34 Exited all MMU + W with Bar 25,30,34
Bar 40 fbo of HOD + 2ES Entry at close of bar
Bar 44 Exited Big bar + tail at bottom thing that Bull might be scale in Bull channel up
Had Internet issue around 1.30
End up watching Gotham Tv series and missed some good trade

nice analysis :thumb::thumb:

why not buy above 10.15 bar high h2 after two legged pullback to ema and micro double bottom.

 

[Snake.Head]

nice analysis :thumb::thumb:

why not buy above 10.15 bar high h2 after two legged pullback to ema and micro double bottom.

I was not sure about move Bar 12 Prior where BW,I mention should have taken that with Stop at low Bar 2.
Plus no prior trend and 23rd was spike and TR day,So i was thinking Price maybe test Low of Bar 1 of 24th or LOY of 23rd.

 

[rajesh.singh]

I was not sure about move Bar 12 Prior where BW,I mention should have taken that with Stop at low Bar 2.
Plus no prior trend and 23rd was spike and TR day,So i was thinking Price maybe test Low of Bar 1 of 24th or LOY of 23rd.

You Missed the context.
In OR be real focus & nimble & never forget the context,as context is King.
see bar 1 & 2, it successfully broke y'day TTR & YH. It was kind of spike & AIL, so one can look forward for BPB.
Bear tried to make fbo at YH, but see the follow-up bars,all the bear bars having tails, plus close to ema that dropping the clue that bears not in control. Bar 12 was strong bull bar, but bad entry bar doji that got support near open of bar 12,bar 15 tried to make DT with bar 13, but bull signal bar & bad context & location as ema nearby so be ready for failure. see bar 17 it has buyer at close of pre. bar, two attempt by bear not able to break bar 12 low , rather made MDB, Long above that bear bar.
Try to anticipate the setups at right context & location, this will help you to execute the trade without hesitation.
Hope that helps.

 

[Snake.Head]

You Missed the context.
In OR be real focus & nimble & never forget the context,as context is King.
see bar 1 & 2, it successfully broke y'day TTR & YH. It was kind of spike & AIL, so one can look forward for BPB.
Bear tried to make fbo at YH, but see the follow-up bars,all the bear bars having tails, plus close to ema that dropping the clue that bears not in control. Bar 12 was strong bull bar, but bad entry bar doji that got support near open of bar 12,bar 15 tried to make DT with bar 13, but bull signal bar & bad context & location as ema nearby so be ready for failure. see bar 17 it has buyer at close of pre. bar, two attempt by bear not able to break bar 12 low , rather made MDB, Long above that bear bar.
Try to anticipate the setups at right context & location, this will help you to execute the trade without hesitation.
Hope that helps.

Thanks will work on those area.

 

[Snake.Head]

Relcap 30-11-15
Bar 1 Is not doji during market hour it was bull bar same size has bar 2
Bar 2 Same Bar 1 OL,Maybe TR
Bar 3 Breakout YH
Bar 4 FT for bar 3,but seller at top
Bar 5 Good RB Bear bar not sure if i call in 1rev or fbo of YH Short at close of bar with target of Bar 3 or Bar 1 Low has max or till ema for bull pullback
Bar 7 Bull tried to but failed strong bear close
Bar 8 Exit on this bar at close after see tail and think it might small pullback in bull spike channel
Bar 10 Reached ema
Bar 14-18 TTR + OL bears kept pressure on bull by not let them closing above ema
Bar 19 Bull bar sort of doji
Bar 22 A2 Short at close
Bar 25 Exited at doji Due fear of losing
Bar 30-36 Near support from Bar 2-3
Bar 35 Bear with tail at bottom at support
Bar 36 Didn't enter Didn't know if it go up or not or just go upto ema
Missed to enter on Bar 38 46 51 due to lack of focus

 

[Snake.Head]

Relcap 1-12-15
Bar 1 Tried to Breakout buy Bear added pressure Strong bear close
Bar 2 FT strong close new low Y last bar Could act has 1rev
Bar 3 As bar was forming is still doubtful if it will successful 1 rev consider two strong close by bears
Bar 4 1pb Target MM of Bar 1,2
Bar 5 Placed Stop sell order at 436.7 To by distress it got filled at low of Bar 4 436.15
Bar 6 RB at support from Y 3PM bar Exited 437.30
Bar 7 Bull held very well didn't let bear close bar 7.Could have enter here,but pullback from ema. so wait
Bar 8 FT Strong bull close
Bar 9 fbo of YH
Bar 10 RB,DT with bar 1 Enter at close bar Stop order
Bar 11 Exit at ema
So till now It TR day
Bar 18 Could short bar despite Strong bear close Pior bar where OL
Bar 28 Kind of W 14,21,27 Enter at close bar with target of high bar 22
Bar 28 Exit as bar started move down fear loss,could have hold till high of bar 22
Bar 28-34 FF

Two thing which i need to work on place target order and Keep focus on chart after lunch missed some trades