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Time and Price Forecasting

  • #3,461
  • Jun 26, 2021 2:08pm Jun 26, 2021 2:08pm
Quoting giuse224
{quote} top-drop?
This was posted just to show everyone who are sceptical about correlations. Cad is a commodity currency, and our greatest commodity in Canada is Oil. as oil values rises, the Canadian dollar strengthens against the US dollar. It’s just plain fact.

Now lately oil has been rising strongly whil Cad was not reacting hardly in fact Cad was still retracing from recent big moves....but it will react sooner or later, I will be a seller in the area I pointed to as it is an area where support became resistance, and with oil like it is I fully expect a big move south for Cad.
  • #3,462
  • Jun 26, 2021 2:32pm Jun 26, 2021 2:32pm
USDCAD Daily
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  • #3,463
  • Jun 26, 2021 2:39pm Jun 26, 2021 2:39pm
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  • #3,464
  • Edited 3:07pm Jun 26, 2021 2:43pm | Edited 3:07pm
Right on Parisboy!!
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  • #3,465
  • Jun 26, 2021 2:44pm Jun 26, 2021 2:44pm
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  • #3,466
  • Jun 26, 2021 3:36pm Jun 26, 2021 3:36pm
Quoting Swede
{quote} This was posted just to show everyone who are sceptical about correlations. Cad is a commodity currency, and our greatest commodity in Canada is Oil. as oil values rises, the Canadian dollar strengthens against the US dollar. It’s just plain fact. Now lately oil has been rising strongly whil Cad was not reacting hardly in fact Cad was still retracing from recent big moves....but it will react sooner or later, I will be a seller in the area I pointed to as it is an area where support became resistance, and with oil like it is I fully expect...
it is already a good entry then...
  • #3,467
  • Edited 6:16pm Jun 26, 2021 5:52pm | Edited 6:16pm
Quoting giuse224
{quote} it is already a good entry then...

Not necessarily.....this was only ONE test of resistance....and WT crude can easily retrace again beginning of the week...

.and look at the last post by Parisboy posted (3464) today where he shows the Big Picture using envelopes...there is room to head north yet so don’t be in a hurry if your thinking a long term hold.

Anyway, I like to see some confirmation before taking a position. Now, if your just scalping that’s another matter entirely.

giuse224 if your looking for some confirmation from others you have to explain your method, are u in a trade, where did u enter, what are your expectations, short term , long term and so on. If you talk with 20 experienced traders in FF, you may very well get 20 different takes on Cad, why? Because no 2 traders trade the same. For example, had you taken Cad short when it made it to resistance you would have a pretty nice scalp to bank.....but Monday is a new week, news changes, the world changes, economics change, commerce is opening in one country, while others are still shut down due to covid19. So to ask the question you asked is impossible to answer because no one in the world can tell you what is around the corner.
  • #3,468
  • Jun 26, 2021 6:28pm Jun 26, 2021 6:28pm
@giuse224

top traders in forex, commodities, stocks, bonds or indexes.....if you asked them if a certain level is good or bad they will shrug their shoulders and say “ don’t have a clue”. All they look for is an edge, a level or diagonal or a number that gives them an edge. When that predetermined level from their analyses is hit, they are in the trade knowing full well they could get stopped. All they want is to be right more times than wrong, and their analyses will give them that edge.

The last thing they do would be to ask the trader next to them for confirmation.
  • #3,469
  • Edited 5:22pm Jun 29, 2021 5:02pm | Edited 5:22pm
This will probably be my final post for some time so traders who want precision entries and have the ability to do minor analyses pay attention please. I have posted tons of charts regarding the grid method of determining turning points and support/resistance etc. but I fear few have really taken the time to take it seriously...I hope some of you will try going forward because you will be well rewarded if you do. Yes, it takes time to do proper analyses.

If all you want to do is scalp, so be it, but if you also want those longer swings to pay big dollars, this is a method that Michael Jenkins uses to establish precision entries and exits....( haters, don't get your knickers in a twist by my using his name, nothing for sale here now or ever) and the levels established are just as precision on MT4 as any other platform.

Now, the following charts are regarding DNA. Jenkins regards a valid impulse wave as having the DNA of future moves over an extended period of time....everything is in the impulse wave, support, resistance, retrace levels, breakout levels and diagonals that extend these levels well into the future.

So, this is an explanation of DNA, and I'm only using Daily Charts (works on smaller time frames also) but personally I seldom loose a single trade when trading the daily, and Aussie has been one of my favorites, along with Cable.

So, lets get started on the next post.
  • #3,470
  • Edited 5:26pm Jun 29, 2021 5:02pm | Edited 5:26pm
This is the daily chart set up last summer...and is as trade able now as last year....but we need to establish a place to measure....and we find a nice impulse wave after Aussie pulled back after a strong move north.
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  • #3,471
  • Edited 5:29pm Jun 29, 2021 5:03pm | Edited 5:29pm
Now place the grid for some really great levels to consider and how about the cycle timing??.
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  • #3,472
  • Edited 5:33pm Jun 29, 2021 5:03pm | Edited 5:33pm
Now, measure the move from high to low of the grid and make up some measured move tools for future use....and see what happens when a breakout occurs, or a pull back occurs ....are you getting the point?....every currency tends to move at a predetermined price amount after a reversal....
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  • #3,473
  • Edited 5:55pm Jun 29, 2021 5:04pm | Edited 5:55pm
Now add your diagonals established from the grid....they are tremendously accurate levels, expecially the 1x1 1x2 ..2x1
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  • #3,474
  • Jun 29, 2021 5:39pm Jun 29, 2021 5:39pm
And all of this....ALL OF It ...stems from the initial impulse wave....now put it all together and you have a trading method that is unbeatable....Do this in conjunction with your 1 hour charts, set up for the more recent impulse waves and it is a killer method for precision entry.

Hope you enjoyed the little tutorial, perhaps we will get a chance to cross paths again....bye for now!
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  • #3,475
  • Jun 29, 2021 11:43pm Jun 29, 2021 11:43pm
Quoting Swede
This will probably be my final post for some time so traders who want precision entries and have the ability to do minor analyses pay attention please. I have posted tons of charts regarding the grid method of determining turning points and support/resistance etc. but I fear few have really taken the time to take it seriously...I hope some of you will try going forward because you will be well rewarded if you do. Yes, it takes time to do proper analyses. If all you want to do is scalp, so be it, but if you also want those longer swings to pay big...
Swede

I understand your frustration
Good luck were ever your journey takes you

Thank you for some truly fantastic and enlightening posts
Best wishes
Dave
  • #3,476
  • Jun 30, 2021 5:02am Jun 30, 2021 5:02am
Quoting Swede
And all of this....ALL OF It ...stems from the initial impulse wave....now put it all together and you have a trading method that is unbeatable....Do this in conjunction with your 1 hour charts, set up for the more recent impulse waves and it is a killer method for precision entry. Hope you enjoyed the little tutorial, perhaps we will get a chance to cross paths again....bye for now! {image}
oh yes sure 100% win rate... that doesnt exist! this is a strategy like all others... it will have losing streaks ! guys dont be fooled!!!!!
  • #3,477
  • Edited 10:15am Jun 30, 2021 9:10am | Edited 10:15am
Quoting jandelichte
{quote} oh yes sure 100% win rate... that doesnt exist! this is a strategy like all others... it will have losing streaks ! guys dont be fooled!!!!!
What an intelligent comment!! Although, with all the trash in the forex world I can’t blame you for coming to that conclusion without even trying a single part of what is illustrated. Just try to measure the overall moves, or just experiment with the grid and see for yourself how the diagonals play into market turns, or how the grid in itself helps spot retraces and so on.

There are no methods on the planet earth that produces a 100 percent win rate. These illustrations show a thinking trader the potential by simply using a few tools that are seldom used on the mt4 platform. They work, they cost nothing, and offer another perspective on how to analyses a market. To suggest I’m trying to fool someone is completely off base and offensive.

Trading is a tough business and robs the uninitiated of their wealth, it is a dirty business with all kinds of deceitful motives driving the business. Don’t automatically assume everyone in this forum is corrupt or trying to rob you somehow? My motives are simply to inform there are alternative ways to analyze other than your standard lagging indicators, that When done correctly, can really find some golden entries.

Can you offer a logical explanation why Aussie turned south 4-5 days ago from a technical standpoint...see chart....can you offer your opinion Jan I would like to hear your comments...
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  • #3,478
  • Jun 30, 2021 12:56pm Jun 30, 2021 12:56pm
or perhaps the cable entry.....we talked about this a few days ago....up over 180 pips as of today
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  • #3,479
  • Jul 1, 2021 2:29am Jul 1, 2021 2:29am
Quoting DiamondMiner
Recommended Reading, seeing how most of you are limited in education, maybe most of you went to school and graduated, but let me tell something, you didn't learn a thing. For a small percentage of you, I say 1% a fortune is in your future, if you are willing to read and learn something. Or you can continue to be the worthless person that you are and complain and stay in poverty, it's up to you. Most of these recommended books are available as a free download PDF if your as clever as you think you are, you'll get most of them. {image} I'll give you...
@DaimondMiner

I've been reading the book of Bradley Cowan and came across a topic called PTV which I'm sure you might know. So I've been trying to wrap my head around this topic but it's just abit tricky. Can you if possible help explain to me what the function of the PTV is and how it can help us in our trading.
  • #3,480
  • Edited 4:35am Jul 1, 2021 3:31am | Edited 4:35am
Quoting Swede
{quote} What an intelligent comment!! Although, with all the trash in the forex world I can’t blame you for coming to that conclusion without even trying a single part of what is illustrated. Just try to measure the overall moves, or just experiment with the grid and see for yourself how the diagonals play into market turns, or how the grid in itself helps spot retraces and so on. There are no methods on the planet earth that produces a 100 percent win rate. These illustrations show a thinking trader the potential by simply using a few tools that...
Swede
Because of the type of guy you are, Open, Honest and Transparent with your ideas trading methods and even indicators that you use, you are responding to a 19 year old student that starts most of his posts with
"What do you think guys"

My Thoughts are
I find creating Trading Methods very easy, their are guys like You, Parisboy and many others on FF that take the time and trouble to post their (in most cases excellent methods), I can either run with their idea's or mix and match them to develope something that suits me

The thing that is missing most of the time, is the money-management skill that's needed to actually trade the method
To trade from A-B
Do you
Go all in on initial entry
Stagger entries
How do you take profits
All in All out
Bank portions as you profit
Were and How do you place stops
How much room do you give your initial trade entry to work
What timeframe do I use
I can go on and on

To me all as important if not more than the actual trading method itself

Going to stop now as you like me we both know, you will not get a sensible reply from him, indeed like in the past when You or Parisboy answer any questions in great detail, you hardly ever get a like or indeed any follow through thanking you

ps

I will now show how you can make a good trade turn out to embarrass you
My Gbp Usd trade like yours
Its even worst than the picture
because I dropped target to 1.3750
But adjust my stop to protect my usual 25/30 pip profit
Yes you have guessed got stopped out for +30

pps
Perhaps someone could tell why I messed up
Methods Fault ?
Money - Management Fault ?
Both ?
Mine ?
Or just bad luck ?

Wow the life of a wanabe trader anit half fun
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