Perfect stall at M3/xx00 figure...
- #7,681
- Mar 6, 2009 12:35pm Mar 6, 2009 12:35pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #7,682
- Edited 1:03pm Mar 6, 2009 12:46pm | Edited 1:03pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #7,683
- Mar 6, 2009 12:50pm Mar 6, 2009 12:50pm
Now that I stopped laighing about the picnic joke 
I wanted to point out the seemingly obvious to help myself understand and maybe answer a question someone else might have had....
The huge divergence I created this afternoon in the 5 min chart would have hit my S/L if I was too eager to enter short...I put the chart up and you can see how many times in the 5 min one might have thought that it was now time to enter, when in fact it had more bullishness in it. To the extent that the trix lines crossed and the bulls were not done...
Come in the one minute chart and we can see how powerful the 1 min entry can be. The bearish divergence in the 1 min (in that time period) was the absolute perfect entry for the ride down...
In the 1 min:
# 1 - Bearish Divergence so that may have been a good trade...
# 2 - Bullish Divergence but since the 5 min was major Bearish, this might have been risky...
# 3 - There is no divergence here and so despite the indication in the 5 min to GO SHORT, patience should prevail
# 4 - This is where we have Double Divergence and the last move up of PA, the THV entry here would have reaped major rewards...
I know this is all after-the-fact; however, it clearly shows how effective a 1 min entry is on a 5 min trade...
Again, I wrote this up so that I could hear and see myself tell me these things...sorry if this is just stating the obvious and using up space and bandwidth...
Have a great weekend everyone !
I wanted to point out the seemingly obvious to help myself understand and maybe answer a question someone else might have had....
The huge divergence I created this afternoon in the 5 min chart would have hit my S/L if I was too eager to enter short...I put the chart up and you can see how many times in the 5 min one might have thought that it was now time to enter, when in fact it had more bullishness in it. To the extent that the trix lines crossed and the bulls were not done...
Come in the one minute chart and we can see how powerful the 1 min entry can be. The bearish divergence in the 1 min (in that time period) was the absolute perfect entry for the ride down...
In the 1 min:
# 1 - Bearish Divergence so that may have been a good trade...
# 2 - Bullish Divergence but since the 5 min was major Bearish, this might have been risky...
# 3 - There is no divergence here and so despite the indication in the 5 min to GO SHORT, patience should prevail
# 4 - This is where we have Double Divergence and the last move up of PA, the THV entry here would have reaped major rewards...
I know this is all after-the-fact; however, it clearly shows how effective a 1 min entry is on a 5 min trade...
Again, I wrote this up so that I could hear and see myself tell me these things...sorry if this is just stating the obvious and using up space and bandwidth...
Have a great weekend everyone !
Deprive a man of everything and you give him nothing to lose.
- #7,684
- Mar 6, 2009 1:03pm Mar 6, 2009 1:03pm
.....by this time you are wondering if just about ANY number is a sweetspot! LOL!
No wonder price pauses every two seconds !!
Deprive a man of everything and you give him nothing to lose.
- #7,686
- Mar 6, 2009 1:24pm Mar 6, 2009 1:24pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
Doblece,
I dont think that is required. I can add the same period converter indicator again with different time frame in the same 1M chart. So, at any point of time you will need only 1M chart to be open.
Karun
- #7,687
- Mar 6, 2009 1:32pm Mar 6, 2009 1:32pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
(.....by this time you are wondering if just about ANY number is a sweetspot! LOL!)
However, smallest price increment/decrement is usually around 5-6 pips... on a M1 chart. I have been testing the equivalence on higher TFs, using the Grid indicator that was posted here lately. I found out the grid can be set according to the mean ATR(20) and maintain some coherence throughout the whole set of timeframes... and maybe that's why it would appear to be random if taken from a single TF point of view.
Some price levels trigger stronger reactions, but basically round numbers lead, in 10 pips steps: test, bounce, retest, cross, retest back, test above, and so on.
"Basic" sweet spots as mentioned: 00-20-33-50-66-80, have a particularity at least 80% of the time, that when crossed, even by one pip (Bid price) they will go to the next level though not always directly (they can go back a few levels to take impulse). If the level is not to be crossed, price won't even touch the level.
Yes it is... as soon as you reload the period converter for a different multiplier, it unloads the previous one and its corresponding chart stops updating the price...
. I got confused with the Indicator I was using for that 
This is the indicator I use, you can add any number of times with different multiplier and all you need is only one 1M chart to be open. I have not used it extensively, so not sure how good or any drawbacks of it.
Karun
- #7,689
- Mar 6, 2009 2:13pm Mar 6, 2009 2:13pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
Sorry, I did not read the earlier post properly
This is the indicator I use, you can add any number of times with different multiplier and all you need is only one 1M chart to be open. I have not used it extensively, so not sure how good or any drawbacks of it.
Karun
Edit: It doesn't give me the option to set the desired period... how do you use it? The script is on the chart but I can't edit anything on it... TIA
Ahhh ok thanks. Too bad I can't test it until sunday... but I will check
Edit: It doesn't give me the option to set the desired period... how do you use it? The script is on the chart but I can't edit anything on it... TIA
Hope this helps.
Actually I am not sure about DLL import, I have it enabled, never tried it disabling though.- #7,694
- Edited 5:57pm Mar 6, 2009 5:26pm | Edited 5:57pm
Have great weekend folks!
Doblece, I have particularly appreciated your posts on pivots and sweet spots....so thanks.
In the words of Groucho Marx: (young folks, please google Groucho Marx)
"Will you marry me? Are you rich? Answer the second question first."
Just a joke, Doblece, I know you have a sense of humour.
So, weekend question, folks.
We've all been looking at the same daily chart.
What are you thinking?
It's telling me we're still messing about. That may just be a good thing because we can just follow our THV.
Like to hear your take.
Regards
Sorry, the fibs labels are wrong. It's a retracement fib.
Doblece, I have particularly appreciated your posts on pivots and sweet spots....so thanks.
In the words of Groucho Marx: (young folks, please google Groucho Marx)
"Will you marry me? Are you rich? Answer the second question first."
Just a joke, Doblece, I know you have a sense of humour.
So, weekend question, folks.
We've all been looking at the same daily chart.
What are you thinking?
It's telling me we're still messing about. That may just be a good thing because we can just follow our THV.
Like to hear your take.
Regards
Sorry, the fibs labels are wrong. It's a retracement fib.
- #7,696
- Mar 6, 2009 9:37pm Mar 6, 2009 9:37pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
Yes the DDl import box has to be checked and you can use it even on the weekends when there's no live market data to make all the charts you want.
I already started making my own brand new array of unusual TFs
- #7,698
- Mar 6, 2009 10:15pm Mar 6, 2009 10:15pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
So, weekend question, folks.
We've all been looking at the same daily chart.
What are you thinking?
Either "they" are loading their longs for the last "W" leg up (haven't checked the COT report BTW, seems I always lose the link to the chart...) and that's a 2000+ pips ride in the make... or maybe just about 1100 to 61.8% retracement and wedge UTL... another weekly spinning top...
Seems like a double rounded bottom to me on Daily. Maybe a few weeks of 1.33-1.25 ranging anyway. Unless there's a strong fundamental reason for a straight push up like last december's... or a scaled dip to 1.16 (if it can't break up above 1.31 anyway, that's the way I see it going).
Either way it makes its mind up (or down) to, is not as important as if it keeps dancing the way it always does...
Inserted Video
- #7,699
- Mar 6, 2009 11:36pm Mar 6, 2009 11:36pm
Hi Doblece,
How about if we deconstruct this very effective THV3 method on only one level....because when we put it all together as Cobra and his team (of which you are apart) have developed and graciously shared is a "kind of magic"
Let's look at one thing and one thing only tonight and let me ask you one question.
I have stripped the template of everything but the sweet spots as you have suggested. Please have a look.
Doblece, what I see is that when you add the remaining pieces Cobra and team have presented here, the trix, the cloud, the coral, trend lines and all the nice touches, such as atr, etc., a terrific way of looking at the market has evolved.
My question: The daily has spent a bunch of time (months) bouncing back and forth in a range. Why should we bother with it at this time? Why not just follow our trading chart and look for trend on a higher tf?
Hope this made sense.
Regards
How about if we deconstruct this very effective THV3 method on only one level....because when we put it all together as Cobra and his team (of which you are apart) have developed and graciously shared is a "kind of magic"
Let's look at one thing and one thing only tonight and let me ask you one question.
I have stripped the template of everything but the sweet spots as you have suggested. Please have a look.
Doblece, what I see is that when you add the remaining pieces Cobra and team have presented here, the trix, the cloud, the coral, trend lines and all the nice touches, such as atr, etc., a terrific way of looking at the market has evolved.
My question: The daily has spent a bunch of time (months) bouncing back and forth in a range. Why should we bother with it at this time? Why not just follow our trading chart and look for trend on a higher tf?
Hope this made sense.
Regards
- #7,700
- Edited 1:09am Mar 7, 2009 12:33am | Edited 1:09am
- Joined May 2006 | Status: Still here. | 2,602 Posts
My question: The daily has spent a bunch of time (months) bouncing back and forth in a range. Why should we bother with it at this time? Why not just follow our trading chart and look for trend on a higher tf?
Hope this made sense.
Regards
(BTW the "SweetSpots" are not a formal part of THV3 system).
It all will depend on your personal preferences and goals... and capitalization and amount of stops you can afford!
You can perfectly aim for longer term trends, thus having to look at weekly-monthly to gauge the trend then entering at a better level on daily or H4.
In my own case, I'm more of a minimalist... for me each M5 candle is a micro-trend in itself
and M30 is for me the equivalent of a daily chart... and M1 of an hourly (about the time it takes between each pair of swings...). I would love to have the patience enough to wait so long for a trade to develop, and let it "breathe" up and down meanwhile it does... but paradoxically, the more I trade the more free time I have left for other things... thus I switched my aim of long termed single 100-150 pip trades (and waiting for the "perfect" entry and so on) for the equivalent in plenty of 5-pips-in-average that I can do on the spot, and not be so much concerned with the larger trend beyond the next 30 minutes.I stopped making endless long term analysis which were almost always right (though I still have a look from time to time) but when confronted to the here and now I usually went against my own predictions...
The market is always moving and always giving. So now I take what it gives me, and move on...
I don't know if all this answers your question, but you can take the extreme opposite view and will maybe have a hint.
Here's a minimalistic equivalent to your chart above
