Oil Ping Pong

19 июл. 2023 г.

No trading advice here, I am just presenting a bold and daring unconventional method.

Looking for Heiken Ashi reversals at the shapes, or continuation in case of indecision, consolidation, rebounds etc. Follow the Heiken Ashi Candles for entry points. After a green wave, a red candle might appear at a shape, or the other way around. Position should be managed with stop loss trailing the highs or the lows of the Heiken Ashi candles.

This is a swing trading approach that can be better suited with a hedging account, in case an opposite signal arises and the initial position hasn't stopped out yet. This way the initial position rides the wave for as long as it takes.

If this sounds too crazy to trade on, you can look at it as an experiment, just like my other ideas with unconventional shapes, where interesting coincidences and rebounds have happened where the price met the drawings.

20 июл. 2023 г.

Заметка

3 bonces around the same level

20 июл. 2023 г.

Заметка

The price followed the grey curve after the 3 bounces, but it seems there are opposite forces battling for space in a squeezed spot. Could also be just stop loss hunting on the downside. Waiting for the first red Heiken Ashi candle to see how it looks and where it occurs.

21 июл. 2023 г.

Заметка

First red candle was very big, requiring a bigger buffer zone for the stop loss. Ping pong with a candlestick shadow at the grey curve and a signal with Helen Ashi at the small blue curve.

21 июл. 2023 г.

Заметка

According to the proposed method this would be another entry signal. With the stop loss trailing the highs of the Heiken Ashi candles that provide lower lows, preferably much lower than the lowest low of the down wave.

21 июл. 2023 г.

Заметка

Stopped out.

21 июл. 2023 г.

Заметка

Here is a little recap for the ping pong ride, bouncing from one shape to another. I also highlighted the 2 shadows on the up which seem to be in line with one of the shapes, regardless of the distance to it.

We are at the marked red price level. It could get interesting, otherwise I'll miss these shapes if the price just bounces outside of them for good.

24 июл. 2023 г.

Заметка

24 июл. 2023 г.

Заметка

A retest of the marked level and a shape and this is off the chart. Out of the drawings. Looks better with regular candles than with Heiken Ashi too.