some people like to add Circles
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Analysis and Trading based on Envelopes, Waves, Cycles
- #12,344
- Jan 2, 2024 8:10am Jan 2, 2024 8:10am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
yes it is the basic raw idea you see everywhere - looks good on conferences and seminars 
but it is not so simple and simplistic. Depends where you are on the Grid and where the move started.
In fact you have to "classify" and "hierarchize " the moves Up or down Then you can classify the rallies or retracements
this is the same principles used for Envelopes 32, 128, 256. An Envelope 32 has a 2/8 th Price Range Potential Amplitude, an Envelope 128 a 4/8 th (50%) potential Price Range amplitude and an Envelope 256 has a 8/8 th (100%) potential Price Range amplitude. You see the relationship with Murrey's Grid ?
but it is not so simple and simplistic. Depends where you are on the Grid and where the move started.
In fact you have to "classify" and "hierarchize " the moves Up or down Then you can classify the rallies or retracements
this is the same principles used for Envelopes 32, 128, 256. An Envelope 32 has a 2/8 th Price Range Potential Amplitude, an Envelope 128 a 4/8 th (50%) potential Price Range amplitude and an Envelope 256 has a 8/8 th (100%) potential Price Range amplitude. You see the relationship with Murrey's Grid ?
- #12,345
- Edited 10:59am Jan 2, 2024 8:23am | Edited 10:59am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
BTCUSDT Follow Up
Gann Analysis (after private tuition on decoding "secret" methods veiled in hidden language )
Gann Analysis (after private tuition on decoding "secret" methods veiled in hidden language )
closed short position {image}
On this one I see that all CMAs were pointing down but I don't see much in the way of a well defined FP projection as you had in the previous trade.
- #12,349
- Jan 2, 2024 5:24pm Jan 2, 2024 5:24pm
- Joined Oct 2017 | Status: Trader | 12,472 Posts
{quote} Thanks Alain, would you mind showing the logic behind your trade entries and exits please, as you did in the previous trade. I'm following them closely as I'm thinking I might try a few short term trades
You just got it ! Spot on.
No clear Focal Point, hence no Target Price.
A Provisional "Square" - 5 CMA's pointing Down.
And "Follow the trend (which is our friend)
In short kind of Fire and Forget Trade
- #12,356
- Jan 3, 2024 6:44am Jan 3, 2024 6:44am
- Joined Jan 2015 | Status: Trader | 5,144 Posts
closed short position {image}
Got to give you a 5 for that
I do not have Bitcoin on my platform , hence no interest
Still on MT4
so not got your Tool Box
Neither unfortunately Terry's version of the 8x8 Grid
But hey love the FLD's
