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Time and Price Forecasting

  • #3,401
  • Jun 15, 2021 11:29am Jun 15, 2021 11:29am
Sell if a pin bar/ engulfing candle shows up
what do you guys think?
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  • #3,402
  • Edited 11:55am Jun 15, 2021 11:41am | Edited 11:55am
Quoting Swede
{quote} I see your first support 14060 was broken...next support 1.4038 and sure enough broke through for about 3 pips and then reversed....Real Nice Job on that Dave!! Now looking at the day charts, it does look like the Big round 1.40000 in sight, and it looks good on the hourly also...we shall see... {image} {image}
Thanks Swede
The SQ9 seems fairly decent BUT like most standalone methods I think it benefits from confluence of 1 or 2 extra tools
Do like your Grid Method ( not so much the circles) and obviously P/Boy Envelopes and FLDs
The simplest at the moment does seems to be an ADR type tool for confluence
Hence I dug my old Xard777 one out of retirement because of its simplicity
Tbh only took 25 out of the drop but a target is a target so I have to be happy

ps
The problem with the SQ9 will always be the base start number
I am trying a decent Double Bottom

pps
Also messing about with MY screen Daily Open
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  • #3,403
  • Edited 12:18pm Jun 15, 2021 12:08pm | Edited 12:18pm
Quoting jandelichte
Sell if a pin bar/ engulfing candle shows up what do you guys think? {image}
Well, something big will have to happen to achieve an engulfing by the end of today....no sign of weakness at this point anyway....

Now having looked at the technical, time to look at fundamentals.....Pull up your WT Crude chart...oil up in the 72.00 range will definately have an effect on Cad....as oil goes up, Cad strengthens against the US dollar, an inverse relationship on your forex charts....so Cad could react at this level...
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  • #3,404
  • Jun 15, 2021 12:44pm Jun 15, 2021 12:44pm
Quoting OAPDave
{quote} Thanks Swede The SQ9 seems fairly decent BUT like most standalone methods I think it benefits from confluence of 1 or 2 extra tools Do like your Grid Method ( not so much the circles) and obviously P/Boy Envelopes and FLDs The simplest at the moment does seems to be an ADR type tool for confluence Hence I dug my old Xard777 one out of retirement because of its simplicity Tbh only took 25 out of the drop but a target is a target so I have to be happy ps The problem with the SQ9 will always be the base start number I am trying a decent Double...
You know that Gann Square indicator I posted a while ago....why not try using your favorite time zone and use the start price as shown on the indicator. forget the rest, just use those turning point prices...just a thought.......
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Attached File(s)
File Type: ex4 gann-sq-9-indicator.ex4   29 KB | 391 downloads
  • #3,405
  • Jun 15, 2021 1:25pm Jun 15, 2021 1:25pm
Quoting Swede
{quote} You know that Gann Square indicator I posted a while ago....why not try using your favorite time zone and use the start price as shown on the indicator. forget the rest, just use those turning point prices...just a thought....... {image} {file}
Thanks Swede
I will have a look over the weekend
Must admit though, wish there was nothing else left to learn about that interests me, my pea brain needs a rest
  • #3,406
  • Jun 16, 2021 9:27am Jun 16, 2021 9:27am
easy money....lots of confluence...first target BRN
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  • #3,407
  • Jun 16, 2021 11:33am Jun 16, 2021 11:33am
A substitute for the quadrilateral:

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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,408
  • Jun 16, 2021 1:15pm Jun 16, 2021 1:15pm
Quoting Swede
{quote} Well, something big will have to happen to achieve an engulfing by the end of today....no sign of weakness at this point anyway.... Now having looked at the technical, time to look at fundamentals.....Pull up your WT Crude chart...oil up in the 72.00 range will definately have an effect on Cad....as oil goes up, Cad strengthens against the US dollar, an inverse relationship on your forex charts....so Cad could react at this level... {image} {image} {image}
Oh i see!
(I didnt mean on the same day though)

But that was a great explanation and perspective!!

I actually learned something with you

Thank you Sir!
  • #3,409
  • Edited 10:30pm Jun 16, 2021 4:33pm | Edited 10:30pm
Quoting jandelichte
{quote} Oh i see! (I didnt mean on the same day though) But that was a great explanation and perspective!! I actually learned something with you Thank you Sir!
Now, now I’m going to watch for potential turn in Cad....West Texas still heading north, but after the dust clears from today we may start to see a decent reaction....keep watching
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  • #3,410
  • Jun 16, 2021 8:21pm Jun 16, 2021 8:21pm
- support held
-price exited the circle very near the 3-intersection point
- pullback support at top of square
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,411
  • Jun 17, 2021 4:35am Jun 17, 2021 4:35am
Removing a few items from the chart in addition to adding a square up top gives a clearer picture of the reaction of price to this drawing.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,412
  • Edited 10:14am Jun 17, 2021 9:25am | Edited 10:14am
fibo works well....and Euro turning point pretty much caught to the day....
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  • #3,413
  • Jun 17, 2021 10:31am Jun 17, 2021 10:31am
Quoting Swede
fibo works well....and Euro turning point pretty much caught to the day.... {image} {image}
Swede
Thank you for showing lots of very interesting tools
But have you a favorite standalone one or do you look for confluence with some or all of them
Do you look for home runs now or content to be in and out the same day

Thanks
Dave
  • #3,414
  • Edited Jun 18, 2021 9:26am Jun 17, 2021 11:06am | Edited Jun 18, 2021 9:26am
Quoting OAPDave
{quote} Swede Thank you for showing lots of very interesting tools But have you a favorite standalone one or do you look for confluence with some or all of them Do you look for home runs now or content to be in and out the same day Thanks Dave
I'm a scalper at heart, had too many really nice trades turn to losses in the past by waiting for the homerun...so I'm skeptical of every move but over everything, this is my real chart, the one hour that covers a few days action, the impulse wave identification is paramount, then the grid to give me points to ponder. Once the grid is on I have a pretty clear roadmap going forward........but then the market slows, after london NY crossover, that is when my entry chart, the 5 minute envelope becomes very useful....I have weekly pivots worth consideration on the 5 minute chart because often they are turning points for scalps, and certainly when ADR is met for the day you can count of a few dollars in your jeans.

But that about wraps it up.....FIBS are a constant consideration on any time frame.....I look at cycles but in Forex they are nebulous due to the economic news that can create such a whipsaw effect

And while I wait, I paint....a great hobby if your a trader..lol
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  • #3,415
  • Jun 17, 2021 11:40am Jun 17, 2021 11:40am
Quoting Swede
{quote} I'm a scalper at heart, had too many really nice trades turn to losses in the past by waiting for the homerun...so I'm skeptical of every move but over everything, this is my real chart, the one hour that covers a few days action, the impulse wave identification is paramount, then the grid to give me points to ponder. Once the grid is on I have a pretty clear roadmap going forward........but then the market slows, after london NY crossover, that is when my entry chart, the 5 minute envelope becomes very useful....I have weekly pivots worth...
Thanks for your detailed reply
You seem to have all the angles covered with your combination of tools and templates
Like your paintings, must admit to watching that Bob Ross guy on TV, he as a very unique style
Me, well my wife says that
I couldn't paint a wall properly
Enjoy your post and it looks like you can up grade your cabin with the way the Gbp/Usd is going
  • #3,416
  • Edited 1:05pm Jun 17, 2021 12:53pm | Edited 1:05pm
Quoting OAPDave
{quote} Thanks for your detailed reply You seem to have all the angles covered with your combination of tools and templates Like your paintings, must admit to watching that Bob Ross guy on TV, he as a very unique style Me, well my wife says that I couldn't paint a wall properly Enjoy your post and it looks like you can up grade your cabin with the way the Gbp/Usd is going
Often its just a matter of waiting...for example the chart below...can you see why Big Round Numbers and half numbers play such an important role in scalping ..where did the sell off continue...right at the half number....where did it stop...at the BRN....and even if you take the countertrend long...it paid 20 pips in just a few minutes...and if your a 1 standard lot trader its been a good day, even in todays market....
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  • #3,417
  • Jun 18, 2021 9:51am Jun 18, 2021 9:51am
fantastic move by Cable...1.38000 will be tested...and I think its time to test the waters with a couple small entries...
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  • #3,418
  • Jun 19, 2021 6:44am Jun 19, 2021 6:44am
Quoting Swede
fantastic move by Cable...1.38000 will be tested...and I think its time to test the waters with a couple small entries... {image}
Just having a bit of a think ?
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  • #3,419
  • Jun 19, 2021 10:25am Jun 19, 2021 10:25am
Quoting OAPDave
{quote} Just having a bit of a think ? {image} {image}
Absolutely needs some thought now...this was a game changer for Euro, Gbp, Aud and so on... I did get a fill at 1.3797 for the long scalp....picked up 30 pips and out because there is more downside to come in my opinion, certainly didnt want to experience a gap down on Sunday?

The 1 hour chart below is interesting how the 1x3 and 3x1 diagonals...both for the entry and the exit. I have seen this a lot and it is one of the most important junctions according to MSJ in a strong trend...I see what he means over and over....so it adds validation for me personally on these entry/exit rules. Anyways, I still used the envelope chart 5 min for the entry and the exit on the scalp...
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  • #3,420
  • Jun 19, 2021 12:14pm Jun 19, 2021 12:14pm
Quoting OAPDave
{quote} Just having a bit of a think ? {image} {image}
Quite the rsi setting you have there. Do you mind my asking how that was determined? Would you describe it as “robust” or “beastly” ? Lol
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