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Trading a "Falling Knife"

13/3/2016

5 Comments

 
Thursday saw the DAX fall in value by 600 in the space of a few hours, following the ECB's decision to drop the minimum bid rate to zero percent.  Crazy stuff but a fantastic opportunity to bolster the trading account if you're careful; or to wipe it out if you're not.

We're all told to be wary of trading the "falling knife" - and quite right too.  Look at the H1 chart below and you might well ask how anyone could possibly know how to short where the arrows are shown.
Picture
Apart from being able to short the top, after the news,, there were four or five superb shorting opportunities that were low-risk high-reward but not very obvious using the H1 chart.

Now add a BRN indicator (there is one for free in the Free Indicators page - help yourself) and drop to the M1 chart - you might just kick yourself if you were sat on the sidelines on Thursday watching price drop like a bomb without getting a slice of the action.

The ,move started with an eWaves W5 at the 10,000 level - the BBRN (Big Big Round Number).  ​
Picture

Then price plummeted providing further opportunities to add on and join the sellers, as simply as this ...
Picture
Who says trading has to be complicated?  
Who says the M1 time frame is just noise?

It started with an eW5 at the 10,000 BBRN and finished with an eW5 at the 9400 BRN. And that's pretty much why eWaves is the only technical indicator that I use for trading.
Picture
5 Comments
Ofer Edry
13/3/2016 11:18:45 am

Waww! This BRN indicator working super!!!
Is there any version to ninjatrader ?
Snorm ewave&BRN&BBRN?
I bought the ewave metatrader ver, i moved to trade with Ninjatrader platform ,and i miss it .
If there any ninjatrader ver i will be hapy to buy it.

Reply
Steve
13/3/2016 11:44:41 am

Sorry Ofer, I only use (and work with) MetaTrader :(

Reply
I'm ready to pay for converting the Snorm ewave alone to ninjatrader, if you agree that
15/3/2016 03:44:54 pm

Reply
Steve
15/3/2016 04:13:11 pm

Perhaps I will look into a version for NinjaT when I've finished my latest version of eWaves. Hopefully later this year. Seems like quite a few people are interested in that.

Reply
Ofer Edry
20/3/2016 12:21:31 pm

Thank you very much
Look for it!

Reply

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  • Home
  • eWavesHarmonics
  • INDICATORS
    • MT4 Indicators
    • MT4 Free Indicators & Scripts
    • eWaves v1.0 Manual
    • MT5 Indicators
  • Trade Tools
    • Advanced Trade Manager
    • Advanced News Trader
    • Trade Copier
  • Trader Training
  • Harmonics
    • TheHarmonicIndi
    • TheHarmonicIndi Instructions
    • Harmonic Chart Pictures
    • Harmonic Patterns
  • Trading Blog
  • Contact Us
  • Who is Snorm
  • Q&A
  • Trading Services
  • Useful Links
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  • Fibonacci Numbers
  • Privacy Policy
  • Terms of Use and Disclaimer