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Time and Price Forecasting

  • #3,441
  • Jun 23, 2021 7:13am Jun 23, 2021 7:13am
Quoting Swede
All manner of additional drawings can come from the initial DNA....I would be short here if session was not ending...but a good place to consider as Asia opens, then London.... {image}
Swede
Having tremendous respect for you and your work and the tireless effort you put into all your very informative posts I think, as my posts are to say the least, a little off topic for this thread and as not to confuse anyone I will refrain from posting
Of course I will continue to follow with keen interest
Dave
  • #3,442
  • Edited 10:53am Jun 23, 2021 9:37am | Edited 10:53am
Quoting OAPDave
{quote} Swede Having tremendous respect for you and your work and the tireless effort you put into all your very informative posts I think, as my posts are to say the least, a little off topic for this thread and as not to confuse anyone I will refrain from posting Of course I will continue to follow with keen interest Dave
well, there are many ways to skin this cat so I value your input also...wish more would get on board to try some of these methods, they give great perspective to each trading session...look at Cable just now...whether your trading the 5 min, or the 1 hour, or MM, square of 9...all say the same, time to consider getting on board...lol

ps.....nice +40 pips in 20 minutes....good area to enter or what?
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  • #3,443
  • Edited 10:41am Jun 24, 2021 10:14am | Edited 10:41am
One of the things that bother me in a thread like this is the constant focus on technical levels, diagonals, circles and squares and so on. Then there is cycle analyses, gann squares, diads, tetrads and quadrilaterals and the never ending “proof” or evidence one works better than the other and so on and so on.

Why then, do these methods fail so badly at times? It is because the focus is so intense on all these things, fundamentals are are given little thought to the overall analyses. Neither do you hear much about correlations like oil and the Canadian dollar or commodity based currencies and how they effect price.

everyone who trades needs to take a page from Davit over in the pivot trading room where Red News is determined at the beginning of every week to alert the trader to things that can scuttle even the very best analyses.....yet you hear little of its importance here.

Anyway, food for thought.

in this case, technicals were great for the entry, but NEWS was the trigger this morning for the real move, and maybe more to come...guess we will see
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  • #3,444
  • Jun 24, 2021 12:23pm Jun 24, 2021 12:23pm
Quoting OAPDave
{quote} Swede My crime today was to trade before Major news Which I new was coming What did it cost me 25 pips I see no problem with all the things you have mentioned. I just accept the fact I made a stupid decision and just move on I have gone well past the days of expecting 100% winners, that's why I have strict money-management in place Yes you show, Perfect Envelope trade but sadly I was not looking at that template (lesson learned ) Sorry all I did was try a cheeky little trade ps Being honest I was really impressed by your grid it was holding...
Listen...."this is the pot calling the kettle black" ..ha haaaa...I was talking to myself as well as those who check into this room....we all do it, we all miss a critical piece of information that makes the overall trend one directional overall...and the trigger is so often the confirmation by way of the news....

ps...I wasn't pointing the finger....it just reminded me to post my thoughts on a critical part of trading...
  • #3,445
  • Jun 25, 2021 11:28am Jun 25, 2021 11:28am
soon
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  • #3,446
  • Jun 25, 2021 11:45am Jun 25, 2021 11:45am
Quoting Swede
soon {image}
Could you say
Double Top
Double Bottom ?
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  • #3,447
  • Jun 25, 2021 12:02pm Jun 25, 2021 12:02pm
Quoting OAPDave
{quote} Could you say Double Top Double Bottom ? {image}
Hurst Straddle Trough
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  • #3,448
  • Jun 25, 2021 12:05pm Jun 25, 2021 12:05pm
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  • #3,449
  • Jun 25, 2021 12:18pm Jun 25, 2021 12:18pm
Great posts Parisboy and OAPDave.

Now as far a GBP is concerned, this is what I was watching for...rejectionat the 1 x 3 and now trading under 1.39000...so south will be my preference on any retrace....
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  • #3,450
  • Jun 25, 2021 12:25pm Jun 25, 2021 12:25pm
Quoting Swede
Great posts Parisboy and OAPDave. Now as far a GBP is concerned, this is what I was watching for...rejectionat the 1 x 3 and now trading under 1.39000...so south will be my preference on any retrace.... {image}
Thanks Swede

Cycles explains ALL patterns

There is an interesting Chapter on the subject on one Brian Millard's book
  • #3,451
  • Jun 25, 2021 12:37pm Jun 25, 2021 12:37pm
Bitcoin is one fast moving instrument...Im practicing with your set up....really astounding how some of the levels hit the mark...
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  • #3,452
  • Jun 25, 2021 12:43pm Jun 25, 2021 12:43pm
Hurst Mid Channel Pause explanation
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  • #3,453
  • Jun 25, 2021 12:44pm Jun 25, 2021 12:44pm
Quoting Swede
Bitcoin is one fast moving instrument...Im practicing with your set up....really astounding how some of the levels hit the mark... {image}
Swede

Tillman Fork is a Mix between Hurst and Andrews
  • #3,454
  • Jun 25, 2021 12:46pm Jun 25, 2021 12:46pm
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  • #3,455
  • Jun 25, 2021 12:50pm Jun 25, 2021 12:50pm
Double Top explained by Brian Millard
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  • #3,456
  • Jun 25, 2021 1:12pm Jun 25, 2021 1:12pm
Same again
Gbp Usd
Double Top
Double Bottom ?
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  • #3,457
  • Jun 26, 2021 8:25am Jun 26, 2021 8:25am
Quoting Swede
soon {image}
top-drop?
  • #3,458
  • Jun 26, 2021 12:02pm Jun 26, 2021 12:02pm
Just found this thread and it has valuable info about cycles. I like Gann material and cycles a lot. Need to go through from beginning. Many thanks for all the ebooks.
  • #3,459
  • Jun 26, 2021 1:07pm Jun 26, 2021 1:07pm
Quoting Swede
Great posts Parisboy and OAPDave. Now as far a GBP is concerned, this is what I was watching for...rejectionat the 1 x 3 and now trading under 1.39000...so south will be my preference on any retrace.... {image}
For tp and sl do you rely only on angles or other parameters?
  • #3,460
  • Edited 3:03pm Jun 26, 2021 2:00pm | Edited 3:03pm
Quoting giuse224
{quote} For tp and sl do you rely only on angles or other parameters?
Depends on time frame.....trading the daily I often us the diagonals for entry, like the chart shown using just a set stop loss ( like usual 25 pips) just above in case I entered wrong. Take profit usually the next diagonal and this would be a long term trade.

But trading when I can watch during the session I go down to the 5 min chart, ( or hourly)looking for an overbought or over sold condition,, like the outer 256 centerred moving average or a strong failure at a Big Round Number ( see post 3443). Depending on the time of day I may just take a 20 pip scalp and renter for another opportunity as a retrace occurs. Always keeping a signal from the Heiken ashi candles as a warning of a retrace.

Also, if I entered at a BRN, I watch the action as price hits the half way (50) or the centre of the centerred moving average. If we turn color for more than 1 candle I’m out, win, loose or draw.

Now, I have one advantage daily over even the British traders because during the close of the London session as it overlaps the slowing of the N Y session we find very often the Average Daily Range is breached (in the red) and price stalls. Very often these are great short term trades, with the trend or even counter trend, often giving up 15-50 pips as the market breaths for a few hours.

And always, always, always pay attention to news or correlations, even the very best set ups can fail miserably when something like the Banks interfere, (like CHF and why I will never take a swissy trade, in fact I won’t even have a Swiss chart in my platform, even a stop loss is of no use when lightening strikes) 100% the result of the Swiss National Bank...see pic

ps....if you want to see the results of trading the London/NY crossover, google the name Shirley Hudson, a trader from NW Washington State. Simply outstanding trader.
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