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Time and Price Forecasting

  • #3,301
  • May 27, 2021 8:29am May 27, 2021 8:29am
Quoting jmn5611
{quote} Swede, for years, YEARS, if I wanted to do Gann I had to draw those miserable grids and lines. I stopped with Gann because the cost benefit was just too out of line for me. Now, for anyone who knows Gann theory, a grid can be done thanks to JeanLouise! Thank you for exposing us to this tool. This thing is NICE
A lot you can do when you can extend out an important impulse wave...gives one quite a map of future price movement
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  • #3,302
  • May 27, 2021 8:34am May 27, 2021 8:34am
Quoting jonica200
hi have been reading these tread for long time never use Metatrader i normally use Thinkorswim for my trading want to ask if some one give me information which Metatrader do you need i try to read on line and is so confusion with Metatrader 4 or 5 then what broker need to get data i trade stocks and some times mini futures i want to try Metatrader to be able to see this drawing tools have here in this forum can some one just guide me on a broker for data and which version of Metatrader 4 or 5 to use thank you for any of your input you give Enzo
Hi Jonica...welcome...

All the indicators you see on this forum are developed for mt4. many of the indicators we use will not work properly on the mt5 version, some will, but many will not.
MT4 is still the most popular in the world for forex trading, nearly every broker has them available so that is your best bet. And they are FREE.

Many of the paid charting versions offer little more than mt4, one still needs to know the basics of trading, websites like babypips.com and others are great places to learn...the charting program is secondary in my opinion.

ps...I used to love colorful charts, the more colorful the better I liked them....but look at my charts now....nothing exciting except what I see in real price action terms and when you look at your income for the month, it was not the colorful charts that did it, it was understanding the market,
  • #3,303
  • May 27, 2021 8:46am May 27, 2021 8:46am
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  • #3,304
  • Edited 9:06am May 27, 2021 8:48am | Edited 9:06am
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  • #3,305
  • May 27, 2021 8:50am May 27, 2021 8:50am
one I dont usually trade...but very nice attention paid at predetermined levels...
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  • #3,306
  • May 27, 2021 9:08am May 27, 2021 9:08am
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  • #3,307
  • May 27, 2021 9:22am May 27, 2021 9:22am
Quoting Swede
{quote} Hi Jonica...welcome... All the indicators you see on this forum are developed for mt4. many of the indicators we use will not work properly on the mt5 version, some will, but many will not. MT4 is still the most popular in the world for forex trading, nearly every broker has them available so that is your best bet. And they are FREE. Many of the paid charting versions offer little more than mt4, one still needs to know the basics of trading, websites like babypips.com and others are great places to learn...the charting program is secondary...
thanks Swede have to agree with you that's what makes money at end of month looking at this forum and watching the post i have to say the drawing tools are great
i will look around and see what kind of demo i should get thanks for the reply
  • #3,308
  • May 27, 2021 9:32am May 27, 2021 9:32am
Quoting Swede
{quote} Looking at the gold chart...I see no indication of a reversal....look at the center of gravity...that was the long entry and there is no indication of a pullback at this point... It is though at a point in Time where change could occure, but you need some strong evidence of a pullback before risking money on such a strong upward chart. {image}
hi, plase can you the parameter for the correct buy and sell, and the timeframe?
  • #3,309
  • May 27, 2021 9:40am May 27, 2021 9:40am
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  • #3,310
  • May 27, 2021 10:18am May 27, 2021 10:18am
Quoting chinchano
{quote} hi, plase can you the parameter for the correct buy and sell, and the timeframe?
Crystal ball not working today.....your guess is as good as mine....1888 has been support the past 8 hours....if that breaks we could see more downside, but gold is strong...look at the daily chart...no indication of reversal at this point and lots of room upside still...
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  • #3,311
  • May 27, 2021 10:25am May 27, 2021 10:25am
Quoting Swede
{quote} Crystal ball not working today.....your guess is as good as mine....1888 has been support the past 8 hours....if that breaks we could see more downside, but gold is strong...look at the daily chart...no indication of reversal at this point and lots of room upside still... {image} {image}
thanks for replying. I was referring to general terms of this strategy of squares
  • #3,312
  • Edited 10:42am May 27, 2021 10:29am | Edited 10:42am
needs watching now.....

second chart is expanded grid and price now at the 1 X 1 and resistance...needs to be on watch list...
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  • #3,313
  • May 27, 2021 10:51am May 27, 2021 10:51am
Quoting chinchano
{quote} thanks for replying. I was referring to general terms of this strategy of squares
Like I said I dont trade Gold,,,,but this is an interesting chart as it traded to the 1 X 1 offering resistance...and it is very near a cycle time period...keep a watch on it and post your results.....
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  • #3,314
  • May 27, 2021 10:56am May 27, 2021 10:56am
Quoting Swede
needs watching now..... second chart is expanded grid and price now at the 1 X 1 and resistance...needs to be on watch list... {image} {image}
and... what is the correct enter?
  • #3,315
  • May 27, 2021 11:23am May 27, 2021 11:23am
Quoting chinchano
{quote} and... what is the correct enter?
that Would have to be your decision only based on your own interpretation.....no one can give you a precise answer without knowing your time frame, your risk tolerance, your ability, and so on, plus the spread your broker offers, upcoming news, world events and it goes on and on.

if you want an alert service from a qualified trader, who only trades gold, you will find even they are accurate only about 40% of the time....and it will not be free, I assure you.

Just from my own experience trading hundreds of charts, I would be interested in joining a long trade on pull backs in the 1880 area as you can see it tested and bounced, with tight stops.
  • #3,316
  • May 27, 2021 12:37pm May 27, 2021 12:37pm
Thank you dm, swede and parisboy for the extensive information about time and price forecasting in this thread! I also want to add that here are also lessons about attitude that are much appreciated and maybe theese are the most important.
So far I didnt need to ask anything cause I have found the information needed in books or asked by other members.
So to round up Thank´s to you all here.
  • #3,317
  • May 27, 2021 1:11pm May 27, 2021 1:11pm
this is a great example of using Becks emblem, extending the angles, along with quadrilateral once a Gartley is in place...
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  • #3,318
  • May 30, 2021 10:07pm May 30, 2021 10:07pm
No real market mover news until Friday this week....with Monday being Memorial Day the markets will be thin....Cable poised for a move upward so nothing to counter trend trade at the moment.

Ps...when using the grid there is a couple of important points should be made....1...when deciding which impulse move to use for the grid, most of the price should fit within the grid. Yes it may exceed the parameters but then trade back into the grid...2...when you can see the overall direction using the diagonals after the price has moved out of the grid in one direction or another....that is when you look for trades IN The Direction of the overall trend as shown below.

Also, you may want to use your cycle tool to overlay the significant impulse wave to see if many of the turning points are being hit.....notice on the trade below how the time factor of the cycle tool tells us GBP is about in time for a move....could be up as expected, but could also reverse....this is the time to watch it closely...
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  • #3,319
  • May 31, 2021 1:32pm May 31, 2021 1:32pm
Another indicator that is overlooked in our toolbox is Becks Emblem, once again by jeanlouie. The reason it is overlooked is all the diagonals created based on Becks preferred angles.....but the only time it is really useful is after a 'Gartely pattern is created, and that is a problem because of scaling. so most traders look at all the pretty lines without realizing it is very very powerful if you like to trade those overextended retraces and preferred angles.

Now, everyone who comes to this room knows there are two powerful angls in the Gann workshops and they are the 90 degree and the 45 degree. But again, unless your chart is squared and scaled properly those angles can be nebulous, untradeable.

But, not if you base your angles on OFFSET angles created by an impulse wave.....now you really have something that works over and over, and Becks indicator is perfect for this work....not only do you have a circle (which in itself if powerful,) you all have the offset angles based on the impulse wave to boot. The best of both worlds.

(ps: because becks angles are drawn in white, they only show up on a colored chart...so I use white background to eliminate them from my analyses...I will take with jeanlouie and see if a switch off button can be made)

Below is the Cable Daily charts...find the impulse waves and do some calculations...note the first one from the left...you have the perfect entry short all the way down to the circle bottom where a long existed as price moved back into the circle...then another short as price stopped further north...

Also, see additional analyses as you extend out the offset 90, the 45 offset from the 90 and so on...amazing results...
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File Type: ex4 Beck's_Emblem_v1.12.ex4   84 KB | 526 downloads
  • #3,320
  • May 31, 2021 2:24pm May 31, 2021 2:24pm
2-Square-Circle-Perimeter-Intersection Scale Set (large arrow)
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