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Trading Focal Points -- "A Leap Of Faith"...

  • #101
  • Mar 23, 2022 8:12pm Mar 23, 2022 8:12pm
Quoting robots4me
{quote} Do you mean following 28 pairs at the same time on a single chart or dashboard? Probably won't happen -- there is still too much discretion going on and the rules are not well defined. The best I can suggest is to use a symbol changer to quickly traverse all the pairs. Are there symbol changers available in TradingView?

If I remember correctly you follow a lot of pairs. It is where it is fastidious to calculate manually many targets
  • #102
  • Mar 23, 2022 8:14pm Mar 23, 2022 8:14pm
Quoting parisboy
{quote} Target could be reached beteween March 26 th 21H and March 27 th 03 H
Now hold on a minute -- do you mean to say this strategy also requires patience? You didn't mention that before. I'm not sure I have the right psychology -- patience is definitely not one of my strengths...
  • #103
  • Mar 23, 2022 8:16pm Mar 23, 2022 8:16pm
Quoting robots4me
{quote} Right now is probably not the best time to open a trade -- immediately after the Asian open. I'm looking forward to giving this spin as the London Open approaches.
Attached Image (click to enlarge)
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  • #104
  • Mar 23, 2022 8:19pm Mar 23, 2022 8:19pm
Quoting parisboy
{quote} {image}
Interesting -- I just now noticed the Double Top in your chart. That's another good sign my EURCHF trade is headed in the right direction. Perhaps I'll create another indi that attempts to detect Double Tops / Bottoms.
  • #105
  • Edited Mar 24, 2022 5:47am Mar 23, 2022 8:23pm | Edited Mar 24, 2022 5:47am
Quoting robots4me
{quote} Now hold on a minute -- do you mean to say this strategy also requires patience? You didn't mention that before. I'm not sure I have the right psychology -- patience is definitely not one of my strengths...
1 Hour = 1 Bar

Top Was March 17th 19 H
Estimated Focal Point March 22 th 10 H (4 Days and 15 Hour later)

I f we consider the Sinewave and the "Mirror Image" (Symmetry)
  • #106
  • Mar 23, 2022 8:42pm Mar 23, 2022 8:42pm
Quoting parisboy
{quote} 1 Hour = 1 Bar Top Was March 17th 19 H Estimated Focal Point March 22 th 10 H (4 Days and 15 Hour later) I f we consider the Sinewave and the "Mirror Image"
I suppose you'd suggest that I not sit staring at my screen waiting to reach TP...
  • #107
  • Mar 24, 2022 1:41am Mar 24, 2022 1:41am
@parisboy
i got a question, i really hope you can please dumb things down for me
thee usdchf has two focal points with a high in between them, i calculated the target price using FP2-(high-fp2) to be 0.92943+/_
now am i to trade a reversal trade(buy) when price reaches the target price or am i missing the whole thing up

i hope my question is not a pain to you, i just really want to get it right
Attached Image (click to enlarge)
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  • #108
  • Mar 24, 2022 2:06am Mar 24, 2022 2:06am
Quoting Mafedavid
@parisboy i got a question, i really hope you can please dumb things down for me thee usdchf has two focal points with a high in between them, i calculated the target price using FP2-(high-fp2) to be 0.92943+/_ now am i to trade a reversal trade(buy) when price reaches the target price or am i missing the whole thing up i hope my question is not a pain to you, i just really want to get it right {image}
@Mafedavid -- thanks for posting your chart -- it also allows me to participate.

Check the image below -- it clearly shows the Double Bottom you are referring to.

My understanding is that Double Bottoms / Tops are not FPs. That is, there is no guesstimated TargetPrice. A Double Bottom alerts you that price will be trending downward. When you see SMA(32) begin to trend downward then that is a good place to enter your SELL. I suggest that you don't think in terms of "reversals" -- just go with the SMA lines. There is no TargetPrice when trading a Double Bottom -- exiting is left to your discretion.

Attached Image (click to enlarge)
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  • #109
  • Mar 24, 2022 2:35am Mar 24, 2022 2:35am
Guppy (GMMA) Long and Short -- similar to Focal Points, but uses EMAs (instead of SMAs) and different spans. But it again shows price's pendulum-like behavior. Check-out where the Long and Short GMMA lines cross -- almost exactly at FPs -- and often a few bars earlier. Make of it as you will -- I'm simply sharing this as an observation.

Attached Image (click to enlarge)
Click to Enlarge Name: GMMA-Long-Short.png Size: 122 KB

Attached File(s)
File Type: ex4 GMMA Long.ex4   10 KB | 284 downloads
Attached File(s)
File Type: ex4 GMMA Short.ex4   9 KB | 301 downloads
  • #110
  • Mar 24, 2022 4:28am Mar 24, 2022 4:28am
Hey Robo,

Many thanks for the new indicator. Any chance of allowing control of the ma's/colour. Tried to hide a couple to keep 3 ma's on the chart but the colours auto refresh.

Russ
Pip Student
  • #111
  • Mar 24, 2022 5:51am Mar 24, 2022 5:51am
EURCHF 1 H

Follow Up of the trade
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  • #112
  • Mar 24, 2022 6:01am Mar 24, 2022 6:01am
EURCHF 1 H

Note the - 43° Channel. Very close from the "45° " Angle defined by Gann as "the most important. The Angle where Price and Time balanced.ving Average

Note that a 45° Angle is a 1 Time Unit x 1 Price Unit Moving Average
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  • #113
  • Mar 24, 2022 6:04am Mar 24, 2022 6:04am
Watching the Gu atm see if prices does turn around to hit the short?
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Pip Student
  • #114
  • Edited 6:31am Mar 24, 2022 6:11am | Edited 6:31am
Superb Sinewave of the CMA 16 oscillating around the CMA 32 as its downtrending Axis (- 43°)
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  • #115
  • Mar 24, 2022 6:47am Mar 24, 2022 6:47am
Quoting Mafedavid
@parisboy i got a question, i really hope you can please dumb things down for me thee usdchf has two focal points with a high in between them, i calculated the target price using FP2-(high-fp2) to be 0.92943+/_ now am i to trade a reversal trade(buy) when price reaches the target price or am i missing the whole thing up i hope my question is not a pain to you, i just really want to get it right {image}

Mafedavid analyze the CMA's similarities on your Chart
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  • #116
  • Mar 24, 2022 7:25am Mar 24, 2022 7:25am
EURUSD 1 Hour

Short Trade Follow Up
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  • #117
  • Mar 24, 2022 8:47am Mar 24, 2022 8:47am
Thanks for new idea of trading. I am doing scalping in M1 timeframe on Gold by using your indicator on my demo account and i got 6 trades and all hit profit. Gold is more stable and runs in cycle on smaller timeframes.

This picture is showing retracement on M1
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Love for all; Hatred for none.
  • #118
  • Mar 24, 2022 9:32am Mar 24, 2022 9:32am
Hi Robots why does the yellow Target line sometimes disappear. Thanks
  • #119
  • Mar 24, 2022 11:58am Mar 24, 2022 11:58am
Quoting aahmad29
Thanks for new idea of trading. I am doing scalping in M1 timeframe on Gold by using your indicator on my demo account and i got 6 trades and all hit profit. Gold is more stable and runs in cycle on smaller timeframes. This picture is showing retracement on M1 {image}

aahmad29, I would say it is a positive and motivating post !
  • #120
  • Mar 24, 2022 12:07pm Mar 24, 2022 12:07pm
EURCHF 1 Hour

Envelopes
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