Analysis and Trading based on Envelopes, Waves, Cycles | Page 194 | Forex Factory

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Attachments: Analysis and Trading based on Envelopes, Waves, Cycles
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Analysis and Trading based on Envelopes, Waves, Cycles

  • #3,861
  • Aug 5, 2020 4:55am Aug 5, 2020 4:55am
Range 65 pips some thing will give
Hmmmm think I say that everyday
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  • #3,862
  • Edited 7:22am Aug 5, 2020 5:33am | Edited 7:22am
Analyzing an Entry (1)

a) Top T3 is noted Top T3 because Price Action went successively through the 3 Envelopes 32 (blue) , 128 (ocre) 256 (brown)

Price Action went higher than the Upper Limit of the Envelope 256 (brown)

b) Top T2 is noted T2 because Price Action went through the Envelope 32 (blue) and is now ABOVE the Centered Moving Average 128 (ocre) in an intermediary position between the Centered Moving Average 128 (ocre) and the Upper Limit of the Envelope 128 (ocre)

As this Top is neither very close from the Envelope 128 Upper Limit nor went through as for a regular Top classified T2, we could have labeled it (T2 -) . But this is for another Lesson

c) Top T1 is noted T1 because Price Action build a Top within the Envelope 32 (blue) ABOVE the Centered Moving Average 32 (blue) in an intermediary position between the Centered Moving Average 32 (blue) and the Upper Limit of the Envelope 32 (blue)

As this Top is neither very close from the Envelope 32 Upper Limit nor went through as for a regular Top classified T1, we could have labeled it (T1 -) . But this is for another Lesson too
Attached Image (click to enlarge)
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  • #3,863
  • Edited 7:20am Aug 5, 2020 5:59am | Edited 7:20am
Analyzing an Entry (2)

This Top Labelization established, this allows us to draw 2 Valid trend Lines (VTL)

First we can draw a Valid Trend Line linking T2 and T1 . We label this Descending VTL as of Degree 1 ( Red - dashed line)

Second we can draw a Valid Trend Line linking T3 and T2. We label this Descending VTL as of Degree 2 ( Red - solid line)

We use the first VTL of degree 1 as a "warning" when Price Action broke it on the Upside . We could have use this Action Signal as an Entry Point to open a long Position. But we prefer to stay on the cautious side, waiting the break of the VTL of Degree 2 , linking successive Tops of greater period Cycles, as a confirmation that Trend has changed direction.

Hence we enter after this second break

Stop Loss is positioned at the Level of the break of the VTL of degree 1 by Price Action
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  • #3,864
  • Aug 5, 2020 7:32am Aug 5, 2020 7:32am
DAX 1 mn

Closed Short position + 25 points
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  • #3,865
  • Aug 5, 2020 7:46am Aug 5, 2020 7:46am
DAX 1 mn

Closed Long position + 17 points
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  • #3,866
  • Aug 5, 2020 8:28am Aug 5, 2020 8:28am
Well we have managed to get the Daily Range up to 91 as I type which is OK ish but we are half way through the week and the WKLY Range is quite poor, so as they say some thing is going to give ?
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  • #3,867
  • Aug 5, 2020 9:31am Aug 5, 2020 9:31am
caught this little cable beauty yesterday....ready to close and take short...
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  • #3,868
  • Aug 5, 2020 9:40am Aug 5, 2020 9:40am
Quoting Swede
caught this little cable beauty yesterday....ready to close and take short... {image}
Good man, really good to see a post from you and a winner too
More posts from you needed and you will get a badge
  • #3,869
  • Aug 5, 2020 9:51am Aug 5, 2020 9:51am
Quoting OAPDave
{quote} Good man, really good to see a post from you and a winner too More posts from you needed and you will get a badge
honestly, I would use these charts more for entries and exits, but I find when I use the color it takes so much cpu that I experience chart freeze if I run more than 2-3 charts....have you found this also?
  • #3,870
  • Aug 5, 2020 10:01am Aug 5, 2020 10:01am
Swede
I have no problem at all, but as I have said before I use Sohocool PB Colour Page 2 from the paperclip, you can still change the colours or even delete them, change line thickness and only needs the 256 setting the 128 & 32 are then done automatically
  • #3,871
  • Aug 5, 2020 10:19am Aug 5, 2020 10:19am
Quoting Swede
{quote} honestly, I would use these charts more for entries and exits, but I find when I use the color it takes so much cpu that I experience chart freeze if I run more than 2-3 charts....have you found this also?
Just as an example 2 PB Channel Color on 1 chart
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  • #3,872
  • Aug 5, 2020 10:32am Aug 5, 2020 10:32am
Quoting OAPDave
{quote} Hi Ace You seem to have spotted a live one here, all I have done is add a FLD 32 to the chart and Double the 256 Envelope {image} {image}

Dave,
It sure seems that way. Seems the bottom is endless at the moment.
  • #3,873
  • Edited 10:51am Aug 5, 2020 10:33am | Edited 10:51am
I finished soon PB Channels with 1/8 gann and some comments.

SMA 256 a good center of gravity (4/8) .

Attached Image (click to enlarge)
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KISS&V :Keep it simple safe & visual
  • #3,874
  • Aug 5, 2020 10:48am Aug 5, 2020 10:48am
Quoting Sohocool
I finished soon PB Channels with 1/8 gann and some comments. SMA 256 a good center of gravity . {image}{image}
Now that will be well worth the wait ?
  • #3,875
  • Aug 5, 2020 10:49am Aug 5, 2020 10:49am
Quoting OAPDave
{quote} Just as an example 2 PB Channel Color on 1 chart {image}
Full Color like this

Attached Image (click to enlarge)
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KISS&V :Keep it simple safe & visual
  • #3,876
  • Aug 5, 2020 11:08am Aug 5, 2020 11:08am
Quoting Sohocool
{quote} Full Color like this {image}{image}
Sohocool thank you for your perseverance in this thread and your coding help.

I am planning to ask you something specific in the future, a tool which can be useful for traders looking for targets.

I will post later my opinion on the use of "colors"
  • #3,877
  • Aug 5, 2020 1:12pm Aug 5, 2020 1:12pm
Quoting OAPDave
Swede I have no problem at all, but as I have said before I use Sohocool PB Colour Page 2 from the paperclip, you can still change the colours or even delete them, change line thickness and only needs the 256 setting the 128 & 32 are then done automatically
thanks....did that and same problem....will have to do some adjustments....my 256 set at 625...do you find that the best settings for the most part...this is 5 min chart
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  • #3,878
  • Edited 2:53pm Aug 5, 2020 2:04pm | Edited 2:53pm
Quoting OAPDave
{quote} Now that will be well worth the wait ?
Here a first version : PB CHANNELS GANN V1 .

The SMA 256 Channel with Gann levels 1/8 =0.125 % of range.

The Gann levels can be use as stop lost and targets .



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Attached File(s)
File Type: ex4 PBChannel_GANN_v1.ex4   22 KB | 508 downloads
KISS&V :Keep it simple safe & visual
  • #3,879
  • Aug 5, 2020 2:49pm Aug 5, 2020 2:49pm
Hi Dave, Parisboy & others,

It appears the lower level of Envelope 256 is going to resist more up side move of the of the USD/CAD. The envelopes are amazing & I haven't even scratched the surface of all there is to learn about this method. I trade totally a different method that requires no standard indicators as provided by MT 4 or MT5, but the cycles have commanded some of my attention & I will continue to devote a bit of my time to learn more.

Thank you to Parisboy, OAPDave & Sohocool for all your help, views & comments. A up to the each of you guys.
  • #3,880
  • Aug 5, 2020 2:59pm Aug 5, 2020 2:59pm
Quoting Sohocool
{quote} Here a first version : PB CHANNELS GANN V1 . The SMA 256 Channel with Gann levels 1/8 =0.125 % of range. The Gann levels can be use as stop lost and targets . {image} {image} {image} {file}
Well what can I say you have cracked it again yes it really is So - Cool
A big thanks once again, outstanding work again
Dave
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