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Chaos Trading System

NZDUSD, is probably now in a wave 4...
We can see a possible target for this retracement.

Greetings !
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We can see that prices reached and pierced the 100 - 110% Fibonacci extension area, a usual target for a wave 3.
The next step is the wave 4 and you can see a possible target area, the 61.8% Fibonacci retracement level.
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Quoting starskovsky
Hello There !

Nice situation on the euro 660 min.
A triple bottom, a nice Trend Line with the fractals, nice divergence and a possible target for the wave 4....

What do you think about that ?
I agree that the EURUSD is setting up for a bullish move; my count on Dailies has us nearing/completed wave 5, although I'm but a beginner in counting waves.

I'm curious why you choose 660 min. (11 hr.) bars?

Why does the "Trend Line with the fractals" come into play for you?
Hey Guys , I am interesting in Bill Willames trading system , and i have two questions hope to find an answer What is the best time frame for trading?? what are the best currency pairs for trading?? Tkxx
Quoting x_1ng
Hey Guys , I am interesting in Bill Willames trading system , and i have two questions hope to find an tanswer What is the best time frame for trading?? what are the best currency pairs for trading?? Tkxx
Chaos, which the Williams system is built upon, is in every time frame. However, they suggest an absolute min. of 5 min. bars and you'll find, at least I have, that the more successful traders tend to trade larger time frames. It's my understanding that the Williams family "bread and butter" time frame is Daily bars.

There isn't a "best" currency pair or commodity. There are however "best" trade set-ups. Ultimately you will want to scroll through many charts looking for a market condition you can "dance with" for profit. For example, you will find nice divergences between price and the AO which can prepare you for a reversal.
Quoting Unchained
Chaos, which the Williams system is built upon, is in every time frame....
Thank you so much ,
I can see its working good on the larger time frames , but the only problem is the stop lose will be too much .
by the way , what do you think about this divergence on the 5 mins chart ( GBP / JPY ) ? Isn't it kinda risky to go long while the price under the alligator?
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Quoting x_1ng
Thank you so much ,
I can see its working good on the larger time frames , but the only problem is the stop lose will be too much .
by the way , what do you think about this divergence on the 5 mins chart ( GBP / JPY ) ? Isn't it kinda risky to go long while the price under the alligator?

Why would the stop loss be too much? Just adjust your position size to accommodate your desired $ risk. With a mini account you can trade 0.01 lots which is a penny a tick on USD ending pairs. Small time frames, particularity in FOREX, are full of noise and for me more difficult to trade profitably.

There are multiple entry strategies, some of which would include entering long under the alligator. I would suggest reading up, starting with the most recent book, 2nd Edition.
Quoting Unchained
I agree that the EURUSD is setting up for a bullish move; my count on Dailies has us nearing/completed wave 5, although I'm but a beginner in counting waves.

I'm curious why you choose 660 min. (11 hr.) bars?

Why does the "Trend Line with the fractals" come into play for you?
Hello !

With BW's strategy to count the waves, it is necessary to enclose the move we are studying in 100 to 140 bars in the past. Then, all the information given by the AO are exact.
To do so, we have to manipulate the Time Frame in order to enclose the move in this 100-140 bars area.This way of doing is described is his 1st book.
I've found the TL Break with FT as a good indication for an entry, when in tune with the waves.

I hope this helps !
All the best and feel free to ask any questions.
Once you have the EW figured out this becomes a very pleasant process. I actually took both of these M15 trades in my sleep, only waking up briefly to place the second order.

Where else can you make close to 2k while you snooze? (Politics maybe?)

Do any of you BW experts also draw trend lines on the RSI?

http://www.elkvalleygold.com/Forex/F...w%20chart..jpg
Here is an Elwave M60 GBPUSD chart for anyone interested:

http://www.elkvalleygold.com/Forex/F...June%204th.jpg

And this one shows the detail inside that last wave:

http://www.elkvalleygold.com/Forex/F...June%204th.jpg
♫ ...when I gaze upon ♪ the trading floors, ♫ all I see is... ♪ indicators, indicators ♫ and more indicators ♪
From the tips to the dips, it's all about the pips
Quoting Wab
Once you have the EW figured out this becomes a very pleasant process. I actually took both of these M15 trades in my sleep, only waking up briefly to place the second order.

Where else can you make close to 2k while you snooze? (Politics maybe?)

Do any of you BW experts also draw trend lines on the RSI?
Great job !

But I think that what you called a wave 4 is actually a wave 2, according to the Fibonacci retracement. W2 usually retrace between 23 and 38%, sometime to 50%.
A wave 4 retrace usually in the 68.4% area.
Also, when you look at the AO behavior, it seems that it created a new Lower Low... It is usually a good indication of a wave 3.
Anyway, whatever the wave was,you made a nice entry there !
Have a good week-end.
I have to agree with you and admit the 38% turn was a lucky one.

I will run that one through ElWave and see what it says.

Either way the fractals work wonders.
Quoting starskovsky
Hello !

With BW's strategy to count the waves, it is necessary to enclose the move we are studying in 100 to 140 bars in the past. Then, all the information given by the AO are exact.
To do so, we have to manipulate the Time Frame in order to enclose the move in this 100-140 bars area.This way of doing is described is his 1st book.
I've found the TL Break with FT as a good indication for an entry, when in tune with the waves.

I hope this helps !
All the best and feel free to ask any questions.
I thought the 100-140 bars was a matter of zooming, which could be done on any time frame? Please explain your method of manipulating the time frame to enclose in 100-140 bars as I can have "any" number of bars on screen on any time frame which confuses me.

In the meantime it sounds like I need to revisit his 1st book *off to read*
Quoting Unchained
I thought the 100-140 bars was a matter of zooming, which could be done on any time frame? Please explain your method of manipulating the time frame to enclose in 100-140 bars as I can have "any" number of bars on screen on any time frame which confuses me.

In the meantime it sounds like I need to revisit his 1st book *off to read*
Yes the 100 140 bars is used for zooming. You start on an higher time frame and find a significant move. Then you manipulate the TF in order to enclose this significant move into the 100 140 bars...
I'm using NinjaTrader to adjust the TF, it is easy. I don't know if it is possible to do that on MT4....

I hope this helps !
Quoting starskovsky
Yes the 100 140 bars is used for zooming. You start on an higher time frame and find a significant move. Then you manipulate the TF in order to enclose this significant move into the 100 140 bars...
I'm using NinjaTrader to adjust the TF, it is easy. I don't know if it is possible to do that on MT4....

I hope this helps !

IC. Yes, MT4 is very limited in this regard. Perhaps I should have kept my TradeStation account open.
You can use NinjaTrader for free, for the analysis and place your trades on any trading station you are used too. This should not be a problem.....

Check this out : http://www.pipcandy.com/index.php?id=30

I hope this is helpful and if you need help with Ninja, feel free to ask !
Hi starskovsky,

how could i connect the forex data source in ninja?

Thanks!

kimi
been away for a week. Just starting to look at chart this week. Good to see this thread active.
Quoting fxtaiko
been away for a week. Just starting to look at chart this week. Good to see this thread active.
finger crossed
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