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Indicator Free Trading - Skunny

  • #3,681
  • Feb 11, 2008 9:18pm Feb 11, 2008 9:18pm
Quoting BarneyDog
Ya Baby, got it.

Regarding "Ok, so the next set up for another long trade on GBP/JPY was after a penetration that came at exactly 9:50 am GMT." Did price drop into the DZ and start up and that was the reason why you thought you'd buy."

Then following the logic, the major, U/J, hit some turbulence not letting it go up any more, therefore, you didn't trade.

Also, I assume the G/J follows the U/J in direction, yes?

Is the above summary correct?

Thanks.
sorry I took so long to reply BarneyDog.

regarding the price on the GBP/JPY, in this instance the price did drop down but not all the way back into the DZ area and then it started heading back up, but at the same time U/J was showing weakness and IMO the U/J pair causes more volatile movement against GBP/JPY than the Pound.
trading naked.......
  • #3,682
  • Feb 11, 2008 9:23pm Feb 11, 2008 9:23pm
IMO the U/J pair causes more volatile movement against GBP/JPY than the Pound.[/quote]


thats a fact


Sizz
  • #3,683
  • Feb 11, 2008 9:43pm Feb 11, 2008 9:43pm
thanks sizz...........

after the big dollar/yen short bonus last night I just sat around watching and looking for a trading opp on the geppy.

what is bothersome is I actually found myself yelling at "cable" every time I saw a strong move on U/J only to be counter acted by a very weakish reversal move on Cable. On one hand I'm booing the dollar on cable while at the same time I'm cheering on the dollar to kill the yen.

No wonder it's so hard to tame the beast.
trading naked.......
  • #3,684
  • Feb 11, 2008 10:10pm Feb 11, 2008 10:10pm
Quoting sizzler
IMO the U/J pair causes more volatile movement against GBP/JPY than the Pound.


thats a fact


Sizz
It is a fact. U/J movements move G/J more than G/U movements. For example...

If G/U is at 2.0000 (just for ease of our calculations) and U/J is at 110.00, then G/J is at 220.00 (G/U * U/J).

If G/U goes up by one pip to 2.0001, then G/J moves to 220.01.

Now if G/U is still at 2.0000 and U/J moves up to 110.01, now G/J becomes 220.02

Both G/U and U/J moving up by one pip moves G/J 3 pips. Get them both moving down and look out below!!!!!

That's why it's a beast.
  • #3,685
  • Feb 11, 2008 10:42pm Feb 11, 2008 10:42pm
Quoting brucehvn
Get them both moving down and look out below!!!!!
That's why it's a beast.
that is what is so odd about this cross pair.

The market dynamics needed for it to be in sync for a strong down trend involve a weak GBP against the dollar and at the same time a weak dollar against the Yen???
trading naked.......
  • #3,686
  • Feb 11, 2008 10:51pm Feb 11, 2008 10:51pm
Here for our gann addicts (v 1.3):

I added 2 gann lines with a different angle (you can change it and the color)

It's now drawing a 14 gann line from the low of the last 8 candles.

Hope that helps...
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 26 KB
Attached File(s)
File Type: ex4 DXTrade Daily Boxed Fibs&Pivots&Gann v 1.3.ex4   24 KB | 548 downloads
"The only successful substitute for brains is silence."
  • #3,687
  • Feb 11, 2008 10:55pm Feb 11, 2008 10:55pm
Quoting DXTrade
Here for our gann addicts (v 1.3):

I added 2 gann lines with a different angle (you can change it and the color)

It's now drawing a 14 gann line from the low of the last 8 candles.

Hope that helps...

looks like a gif file???? can u post the .exe please thanks
  • #3,688
  • Feb 11, 2008 11:08pm Feb 11, 2008 11:08pm
Quoting dagoods
looks like a gif file???? can u post the .exe please thanks
???

I posted the gif file to show the chart... and the ex4 file with the indicator!!!

???
"The only successful substitute for brains is silence."
  • #3,689
  • Feb 11, 2008 11:18pm Feb 11, 2008 11:18pm
How do you know what is the right angle for ganns? Do you need a specific angle for each pair? ... for trending and ranging market?

Quoting DXTrade
Here for our gann addicts (v 1.3):

I added 2 gann lines with a different angle (you can change it and the color)

It's now drawing a 14 gann line from the low of the last 8 candles.

Hope that helps...
  • #3,690
  • Feb 11, 2008 11:24pm Feb 11, 2008 11:24pm
Quoting DXTrade
???

I posted the gif file to show the chart... and the ex4 file with the indicator!!!

???

oops sorry got dx thanks... will see if i can use it to find molier gans lol
  • #3,691
  • Feb 11, 2008 11:24pm Feb 11, 2008 11:24pm
Quote
How do you know what is the right angle for ganns? Do you need a specific angle for each pair? ... for trending and ranging market?

I have no idea

I'm just watching these gann lines on 4 pairs since a while with scale 4 (GJ,EJ, UJ and CJ) and find it the most appropriate.
Maybe scale 2 or 3 might be better for less volatile pairs like UJ.
Scale 1 for EU and GU. But these I don't look at.

The 14 scale is coming from our gann specialist... and looking fine on GJ for retracement moves.
Otherwise it all has been posted already in this thread.
"The only successful substitute for brains is silence."
  • #3,692
  • Feb 11, 2008 11:47pm Feb 11, 2008 11:47pm
Fib Channel...Still a fib but a channel. Lines! Lines! So many lines!
Attached Image (click to enlarge)
Click to Enlarge Name: newlines.gif Size: 29 KB
  • #3,693
  • Feb 12, 2008 2:01am Feb 12, 2008 2:01am
Quoting PiPr Pro
To everyone that offered their condolences - thank you. Life is so precious and when someone terminally ill takes that decision into their own hands it brings the grieving process swiftly to the front. Thank you again. Now to help take my mind off things I'll try to get back to work.

I have not seen this analysis here today, so I thought I would be blunt instead of giving away hints. Note the fib placement I had and how it has differed from the ones posted here so far. The support (0 fib) later became support again and provided initial retracement pips at the support line that Skunny has discussed. Someone here coined the expression DZ or decision zone. I prefer to call it the NNDZ or Nervous Nellie Decision Zone.

Well I guess that's me, guilty as charged for borrowing the idea from Bo's thread and highlighting the retracement areas that work well on the 5m charts.


After your primary PA move for the day you can usually define your new fibs loosely by the retracement, whipsaw, retracement action. This is simply the retail buyers and sellers moving in and out of the market or what has affectionately been called the Nervous Nellie's in institutional circles. In other words the internal fibs are usually contained within this action as seen in the attached picture. If you place your fibs on this NNDZ action you will short change yourself on the pips available later at the extensions.

That's not the idea, the DZ comes as a result of placing a fib on the latest swing and it IS where price frequently reverses and resumes its prior trend.

If you draw the fibs too wide you will suffer large DD to hopefully find the extension target many days / weeks later.

Note the Gann 14 has been working recently as the retracement line to break. When the retracement is quick, PA usually runs sideways similar to Friday then when the line is broken within several hours the PA breaks down. This is easy to see real time because PA will react to the line from nowhere, you know you have it right.
PPP - I respect your work and views, but I also look at the statistics that I see with the IFib concept. Last week I walked 20 fibs on the 5m chart.
19 of those gave profitable entries on the exit from the DZ, with a potential profit of more than 1500 pips. I think that's quite acceptable.

Respectfully,

Nervous Nellie - aka Issy
Trading Levels with WRBs
  • #3,694
  • Feb 12, 2008 2:29am Feb 12, 2008 2:29am
Quoting DXTrade
Now I'm not sure anymore in what thread to post these charts!
Bus as we have gann lines here as well... (sorry Izzy )
NP DXT - I too have Gann lines and Time Lines and I'm continuing to work with both, especially on the 15m and 5m TFs. PPP is the leader here with Gann and we can all learn from him.

However, I'm keeping my Naked Thread very KISS and trying hard NOT to add any extras other than pivots which often highlight S&R areas.
Trading Levels with WRBs
  • #3,695
  • Feb 12, 2008 3:10am Feb 12, 2008 3:10am
Quoting Brunite
Pipr,

Good to see you back!

I had posed the following questions right before your absence......I'm sure you missed them.

If you don't mind, I'd like to ask again:

I have been doing some testing and found some different angles to work on other TF's.....so far....for me anyway. Thanks for whatever light you can shine on this!
Hi Brunite and anyone interested,
the gann settings must be multiplied/divided by the same factor than the time frame, for instance a gann(4) in H1 is a gann(1) in M15 and a gann(14)
in H1 is a gann(3.5) in M15 and is also a gann(336) in Daily.
This way you get exactly the same line.
Hope this help
Schmurex
  • #3,696
  • Feb 12, 2008 3:35am Feb 12, 2008 3:35am
Quoting DXTrade
Here for our gann addicts (v 1.3):

I added 2 gann lines with a different angle (you can change it and the color)

It's now drawing a 14 gann line from the low of the last 8 candles.

Hope that helps...
Thank you so much DX for your indicator.
I find it so smart and easy on the eyes. I use it all the time on vhands.
I find the pivot and the day sequencing very usefull. I often add a range fib when the daily PA is not significant enough, because the different broker's 00.00 is arbitrary and sometime cut in the middle of PA flow.
I don't use so much the gann line so far (and set it to no colour) since I'm still focusing on the Fibs, PASR...
but I know I will be using them next. I can't wait for it...
I didn't try the new version yet...
may the pip be with you
Schmurex
  • #3,697
  • Feb 12, 2008 3:41am Feb 12, 2008 3:41am
Quoting schmurex
Thank you so much DX for your indicator.
I find it so smart and easy on the eyes. I use it all the time on vhands.
I find the pivot and the day sequencing very usefull. I often add a range fib when the daily PA is not significant enough, because the different broker's 00.00 is arbitrary and sometime cut in the middle of PA flow.
I don't use so much the gann line so far (and set it to no colour) since I'm still focusing on the Fibs, PASR...
but I know I will be using them next. I can't wait for it...
I didn't try the new version yet...
may the pip be with you
Schmurex
Thanks... was a pleasure.

I'm working on a version now which is adapting the gann lines to the chart timeframe... LOL

v1.4 to come soon before I'm in Egypt without internet next monday.
"The only successful substitute for brains is silence."
  • #3,698
  • Feb 12, 2008 3:50am Feb 12, 2008 3:50am
Thanks Pipr & Schmurex for the feedback. I will test your Gann ideas!
  • #3,699
  • Feb 12, 2008 3:52am Feb 12, 2008 3:52am
Quoting DXTrade
I'm in Egypt without internet next monday.
DX....you weren't the guy who cut the underground internet cable going into Egypt the other week were you?
trading naked.......
  • #3,700
  • Feb 12, 2008 4:14am Feb 12, 2008 4:14am
Quoting piphitman
DX....you weren't the guy who cut the underground internet cable going into Egypt the other week were you?






"The only successful substitute for brains is silence."
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