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

  • #161
  • Edited 10:17am Mar 25, 2022 8:17am | Edited 10:17am
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  • #162
  • Mar 25, 2022 9:19am Mar 25, 2022 9:19am
Quoting parisboy
{quote} How a Double Top forms itself {image}
At least among Traders.. this is more of a head & shoulders pattern... not a double top.. I dont see it..
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  • #163
  • Mar 25, 2022 9:27am Mar 25, 2022 9:27am
Quoting FundedCoffee
{quote} At least among Traders.. this is more of a head & shoulders pattern... not a double top.. I dont see it.. {image}

at least Bishopdotun see one.
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  • #164
  • Mar 25, 2022 9:31am Mar 25, 2022 9:31am
Quoting parisboy
{quote} {image}
What has Bisphopdotun´s screenshot to do with the image you have shared?

You wrote "How a Double Top forms itself" and then shared an image of a Head and Shoulders.
  • #165
  • Edited 10:30am Mar 25, 2022 10:11am | Edited 10:30am
Quoting FundedCoffee
{quote} What has Bisphopdotun´s screenshot to do with the image you have shared? You wrote "How a Double Top forms itself" and then shared an image of a Head and Shoulders.
look at these 2 successive posts and try to understand the sequence

https://www.forexfactory.com/thread/...3#post13945893

https://www.forexfactory.com/thread/...5#post13945915

sorry you are right. This is the correct double Top pattern.

Good that you insisted. Sometimes I can be somewhat stubborn. Old age I presume.
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  • #166
  • Mar 25, 2022 10:19am Mar 25, 2022 10:19am
Quoting parisboy
{quote} look at these 2 successive posts and try to understand the sequence https://www.forexfactory.com/thread/...3#post13945893 https://www.forexfactory.com/thread/...5#post13945915
I am trying my best but I still dont understand how Bisphopdotun´s double top has anything to do with your head & shoulder image and why you call it a double top.

Edit: lets leave it at that...
  • #167
  • Mar 25, 2022 10:20am Mar 25, 2022 10:20am
Hi robots4me,
An awesome thread you have going. I wish you the best. I wondered how long it would be before someone discovered the value of the focal points.
When I first discovered Parisboy thread I could not make sense of all the CMA, FLD & other he was sharing. One day on the Tradingfives site I discovered the Displaced MA's & it was then that I discovered the focal points. Those focal points are very predictive once you understand what they are showing you. I prefer using 3 Displaced MA's.

Parisboy has no peers when it comes to CMA, FLD, Hurst & other related topics. Parisboy also takes the time to explain how he is using each. I have my own way of trading that took me many months to fine tune, but had I discovered Parisboy site first I would be completely locked into what he is taking time to share with those willing to learn. I use the CMA's & Displaced MAs as a strong conformation to what my method is telling me.

Over the next several days I will try to post up some charts with explanation's.

Best of trades to you, my friend.
  • #168
  • Mar 25, 2022 10:21am Mar 25, 2022 10:21am
Another trade in Gold is in progress and heading toward TP. I had late entry because i had lunch break and i saw the M1 chart. I have some observations about this method and will share it later tonight.
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Love for all; Hatred for none.
  • #169
  • Mar 25, 2022 10:23am Mar 25, 2022 10:23am
Quoting FundedCoffee
{quote} I am trying my best but I still dont understand how Bisphopdotun´s double top has anything to do with your head & shoulder image and why you call it a double top. Edit: lets leave it at that...
you can do your best you will go nowhere.

you were right and I posted the wrong chart. I have changed it.

Thanks
  • #170
  • Mar 25, 2022 10:32am Mar 25, 2022 10:32am
Quoting aahmad29
Another trade in Gold is in progress and heading toward TP. I had late entry because i had lunch break and i saw the M1 chart. I have some observations about this method and will share it later tonight. {image}
Here you go price hit TP and you can see that yellow line is little away and it has already been explained that why this happen. But i kept my initial TP.

I never thought about trading in Gold because of minimum leverage and high margin but now i am becoming confident in trading Gold. Thanks for this thread.
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Love for all; Hatred for none.
  • #171
  • Mar 25, 2022 1:22pm Mar 25, 2022 1:22pm
EURCHF 1 mn

Double Top in construction
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  • #172
  • Edited 1:41pm Mar 25, 2022 1:24pm | Edited 1:41pm
EURCHF 1 Hour

Closed Short position


Robots4me target was reached
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  • #173
  • Mar 25, 2022 1:49pm Mar 25, 2022 1:49pm
Quoting aahmad29
{quote} Here you go price hit TP and you can see that yellow line is little away and it has already been explained that why this happen. But i kept my initial TP. I never thought about trading in Gold because of minimum leverage and high margin but now i am becoming confident in trading Gold. Thanks for this thread. {image}
Very nice -- thanks...

One thing that I'm now paying attention to (especially on M1) is whether a FP is formed by the extrapolated / extended lines. I will ignore FPs that are formed using extrapolated / extended lines. That is because the extrapolated / extended portion of the SMA lines is not based on price data. On M1 this means you'll need to wait maybe 16-32 bars, which isn't so bad. On H1 that means waiting a day or two -- which I would find hard to do.

I could modify the indicator to ignore the extrapolated / extended portion of the SMA lines when detecting a FP but, on the other hand, the extrapolated / extended portion is often fine to use when the market isn't changing. Again, this is a very cool strategy but it does require a fair bit of discretion -- that's the trade-off.
  • #174
  • Mar 25, 2022 1:58pm Mar 25, 2022 1:58pm
Quoting robots4me
{quote} Very nice -- thanks... One thing that I'm now paying attention to (especially on M1) is whether a FP is formed by the extrapolated / extended lines. I will ignore FPs that are formed using extrapolated / extended lines. That is because the extrapolated / extended portion of the SMA lines is not based on price data. On M1 this means you'll need to wait maybe 16-32 bars, which isn't so bad. On H1 that means waiting a day or two -- which I would find hard to do. I could modify the indicator to ignore the extrapolated / extended portion of the...
In fact you have 2 Categories of Focal Points :

a) the Confirmed Focal Point where several Centered Moving Averages have really converged

b) the Potential Focal Point where you suspect an additional Centered Moving Average of degree superior will go through a Confirmed Focal point

It is where you make your money
  • #175
  • Mar 25, 2022 2:05pm Mar 25, 2022 2:05pm
Quoting parisboy
{quote} In fact you have 2 Categories of Focal Points : a) the Confirmed Focal Point where several Centered Moving Averages have really converged b) the Potential Focal Point where you suspect an additional Centered Moving Average of degree superior will go through a Confirmed Focal point It is where you make your money
Above posted chart had confirmed focal points but not clearly visible because I zoomed out to show the TP. In any way I will keep in mind. Thanks
Love for all; Hatred for none.
  • #176
  • Mar 25, 2022 2:05pm Mar 25, 2022 2:05pm
Quoting robots4me
{quote} Very nice -- thanks... One thing that I'm now paying attention to (especially on M1) is whether a FP is formed by the extrapolated / extended lines. I will ignore FPs that are formed using extrapolated / extended lines. That is because the extrapolated / extended portion of the SMA lines is not based on price data. On M1 this means you'll need to wait maybe 16-32 bars, which isn't so bad. On H1 that means waiting a day or two -- which I would find hard to do. I could modify the indicator to ignore the extrapolated / extended portion of the...
Thanks for updating.
Love for all; Hatred for none.
  • #177
  • Mar 25, 2022 2:07pm Mar 25, 2022 2:07pm
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  • #178
  • Mar 25, 2022 2:15pm Mar 25, 2022 2:15pm
Quoting parisboy
{quote} In fact you have 2 Categories of Focal Points : a) the Confirmed Focal Point where several Centered Moving Averages have really converged b) the Potential Focal Point where you suspect an additional Centered Moving Average of degree superior will go through a Confirmed Focal point It is where you make your money
Ahhh -- 'Confirmed' and 'Potential' Focal Points -- excellent, I got it. Thank you...
  • #179
  • Mar 25, 2022 2:23pm Mar 25, 2022 2:23pm
Quoting robots4me
{quote} Ahhh -- 'Confirmed' and 'Potential' Focal Points -- excellent, I got it. Thank you...
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  • #180
  • Mar 25, 2022 2:29pm Mar 25, 2022 2:29pm
Quoting parisboy
{quote} {image}
Right -- got it.

Here's a question: Your chart has a mixture of Confirmed and Potential FPs. How would you trade it? What do you do when Confirmed and Potential disagree?
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