timwest

FACEBOOK FB - BARS AT MODE CONCEPT

BATS:FB   FACEBOOK INC
388 6 5
General description of the "TIME AT A PRICE" concept for determining time of a rally.

BARS AT MODE = BARS TO MOVE.

In this example, several uptrends are in place for Facebook             ( FB             ). Time is running out on one trend today from the 6-day mode, and 15 days expires next week from the last 15-day consolidation.

There is another consolidation this week that adds a few days also, but I didn't want to clutter the chart.

NOTE: This is really just an informative chart - not a "TAKE A TRADE CHART" . If you are long, raise your stop to the low of the day after the 15 days expire next week or just exit on the close of the day. Simple as that.

Enjoy.

Tim 11:16AM EST 2/14/2014
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timwest PRO
2 years ago
The circled bar is the "day 1" of the trend
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timwest PRO
2 years ago
Also - purple bars are "up bars" and orange bars are "down bars" and green bars are "inside or outside bars"
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TheLark PRO
2 years ago
Very interesting idea, have you noticed this trend other places or just on FB?
Does it only seem to work in confirmed up trends? You've got my attention, I think I'll do some research as well!
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timwest PRO TheLark
2 years ago
I've found that it works in all markets on all time frames.
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timwest PRO TheLark
2 years ago
Since there are ways to trade it both ways - it comes down to your personality type to decide on your trading style. For those contrarians, you'd look to fade the rallies once time expires. For trend followers, you buy on dips to support after an uptrend is in place. For breakout traders, you buy on the first bar above the mode. Lots of ways to trade this one method.
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TheLark PRO timwest
2 years ago
Awesome to hear, I really like the idea and may base a script around it, that's where I do my real studying on ideas, while writing scripts for them ;D
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