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  • #1,781
  • Mar 13, 2009 3:25am Mar 13, 2009 3:25am
Eur currently, I was getting coffee and taking a break around news, but 2 trade able bounces. 2nd bounce great trade. bouncing off support, trend cci showing more strength, 0 line reject on the entry cci and 100 line break by both cci's
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  • #1,782
  • Mar 13, 2009 7:16am Mar 13, 2009 7:16am
Hey all just wondering if anyone else caught this move on the pound my entry was at the green arrow its still open.
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  • #1,783
  • Edited 9:40am Mar 13, 2009 8:18am | Edited 9:40am
Hi,

we had several good moves this morning, and i saw some repetitive situation i would like to ask to JE, in some trades we saw the break of all ribbons and then inmediately went up or down strong, but in some others we saw the break, then retracement and went up or down, how do we know when to take the first break or wait until the second move?

In the chart in circles the entries, the first one long i took it was safe, but the rest were confusing, breaks then retraces, then breaks and moves fast, then another long that breaks and fails. maybe i am doing something wrong.
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  • #1,784
  • Mar 13, 2009 11:31am Mar 13, 2009 11:31am
Then later another short euro, strong breakout, target yellow pivot. but then again how to know when the break is strong and when it will retrace, or even fail.
  • #1,785
  • Mar 13, 2009 2:56pm Mar 13, 2009 2:56pm
Quoting blanca
Hi,

we had several good moves this morning, and i saw some repetitive situation i would like to ask to JE, in some trades we saw the break of all ribbons and then inmediately went up or down strong, but in some others we saw the break, then retracement and went up or down, how do we know when to take the first break or wait until the second move?

In the chart in circles the entries, the first one long i took it was safe, but the rest were confusing, breaks then retraces, then breaks and moves fast, then another long that breaks and fails. maybe...
The breakout in the middle of this chart is valid, because of divergency on CCI's. Notice how it has made a zig-zag formation before steaming higher.

Look at the breakout at the end..... how different this one is in respect with the one in the middle.

The breakout at the end of the chart already lost all it's upward potential at the final breakout to continue..... there is no retracement back towards the upper ribbon. Price falls immediately under the ribbon...... So it has to make total new run in order to get above the ribbon again......
Also notice how far it went already in a straight line. Divergency on CCI's is not available here. So this is not a valid breakout.

Study all the valid examples on the previous pages starting at page 100 and you will develop an eye for this >>>> Next time you spot immediately if a breakout is valid.

Hope this helps you, John
  • #1,786
  • Mar 13, 2009 3:56pm Mar 13, 2009 3:56pm
Quoting blanca
Hi,

how do we know when to take the first break or wait until the second move?
I hope this picture supports John's explanation
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Trading S/R with PA only. No indicators anymore!
  • #1,787
  • Mar 13, 2009 10:07pm Mar 13, 2009 10:07pm
Quoting John Edwards
Of course you all may understand that it pleases me to see that more and more traders..... starters and professionals alike are beginning to understand how this setup works and indeed that it has unequalled power to determine the three ways the market moves.

So once more my sincere thanks go to FXtrading24 (originator of this thread) and to all contributors that show their personal views. For there is more (cosmic) power in sharing and freely giving away than only trying to gather in life.

John
Hey that the author of my Signature Quote
Don't forget Practice + Patience + Persistence = Profits
  • #1,788
  • Mar 16, 2009 9:59am Mar 16, 2009 9:59am
hey max, how are you doing? I sent you a pm asking you how to set custom levels to alarm in the double cci indicator. can you help me out?

thanks
  • #1,789
  • Edited Mar 17, 2009 5:28am Mar 16, 2009 10:54am | Edited Mar 17, 2009 5:28am
Quoting John Edwards
Sorry...... this setup is only to be used on TF1.
TF5 requires a different setup.

John
Hi John.... I've been using your set-up on a TF5 with great success, solid and reliable support as well as resistance on those three ribbons... I dont know if it requires different set-up on a TF5, but I think current set-up is quite solid and reliable to be used on TF5. I would appreciate if you could provide an insight on this TF5 concerning the combination of T3 ribbons etc to be used other than TF1. Thank you.
  • #1,790
  • Mar 16, 2009 7:38pm Mar 16, 2009 7:38pm
THANKS a lot je and jazz i like your explanation, the only issue is that in the divergence trade already broke before we could analize it and see it was not a valid breakout, but the rest is fine.
  • #1,791
  • Mar 16, 2009 9:54pm Mar 16, 2009 9:54pm
Quoting vyder
hey max, how are you doing? I sent you a pm asking you how to set custom levels to alarm in the double cci indicator. can you help me out?

thanks
Lol sorry, i dont pay attention to the PM's often

you only need to change the '0' to lets say '50' or '100' in the
ALERT LEVELS INCLUDE NEGATIVE not forgeting the ZERO CROSS ALERT to TRUE
Don't forget Practice + Patience + Persistence = Profits
  • #1,792
  • Edited 3:04am Mar 17, 2009 2:39am | Edited 3:04am
Quoting blanca
THANKS a lot je and jazz i like your explanation, the only issue is that in the divergence trade already broke before we could analize it and see it was not a valid breakout, but the rest is fine.
Blanca,
If you are referring to the breakout at the vertical line with red cross at the right of the chart on post 1786,
I would say that it would have been safer if you waited for yelow CCI retrace back to zero line, or cross down and cross up again from zero line. Price had been rising for many minutes since the blue dot, without retracing. So for me, it first needs to cool down before taking a long position.

Well...that retracement did happen! But no high prob entry for Long occurred anymore.
Trading S/R with PA only. No indicators anymore!
  • #1,793
  • Mar 17, 2009 3:53am Mar 17, 2009 3:53am
I mean the second breakout , the divergence one, because i took it, and after that we could analize it was divergence so would fail, but meanwhile i was there, lol.
  • #1,794
  • Mar 17, 2009 5:26am Mar 17, 2009 5:26am
Quoting blanca
I mean the second breakout , the divergence one,
Sorry I am not sure if I understand the way you traded that signal.
If you went short there, than that was ok. You could have closed break even or with profit.
Trading S/R with PA only. No indicators anymore!
  • #1,795
  • Mar 17, 2009 6:55am Mar 17, 2009 6:55am
hello , happy to see that everything is ok whith this trading system !
have you good % trading with this system ?
i have no time to read all posts , lol ,
somebody can make a resume of all your improvements
or there is a special post to read ?
thanks
and; John ! you have made a very good job !

kinonen
  • #1,796
  • Mar 17, 2009 7:37am Mar 17, 2009 7:37am
Quoting kinonen
hello , happy to see that everything is ok whith this trading system !
have you good % trading with this system ?
i have no time to read all posts , lol ,
somebody can make a resume of all your improvements
or there is a special post to read ?
thanks
and; John ! you have made a very good job !

kinonen
Hi Kinonen,
good to see you back here.

I am using this template for my trading and it changed my trading style for the good.

I don't have time to make a new post with all the indi's and templates in it, sorry.
But you can look for the basic Edwards rules on pages 100 to 107.
Download indicators and templates overthere.
Another JE update in post 1754.
And my template (which needs the indicators from J.E. posts!) in post 1765.

I think it is very important for everybody who wants to use this setup, to read and learn everything from page 100 too 107, because it is something different then anything else.
So Kinonen, there you go.
Trading S/R with PA only. No indicators anymore!
  • #1,797
  • Mar 17, 2009 7:50am Mar 17, 2009 7:50am
hi guys,

seems today was not much move, very limited to pivots , the trade of divergence i took was in the chart jazz was so nice to post,the second circle, not the third which turned into an easy short, the second broke the ribbons and signaled at the same time the divergence but meanwhile i was there short loosing, i was trying to find out something that tell me i did wrong, like in the last one its clear the lack of cci. thanks jazz.
  • #1,798
  • Mar 17, 2009 7:55am Mar 17, 2009 7:55am
Quoting blanca
hi guys,
the trade of divergence i took was in the chart i posted the second circle, not the third which turned into an easy short, the second broke the ribbons and signaled at the same time the divergence but meanwhile i was there short loosing, lol.
Ok, got it. In that trade yellow CCi was allready for some time under zero line.
I don't like that. So I wouldn't have entered on that point but I would have done it when CCi went under zero the next opportunity. That was nice.
enough about that trade, I think... Talking about is is learning isnt it?
Trading S/R with PA only. No indicators anymore!
  • #1,799
  • Mar 17, 2009 8:08am Mar 17, 2009 8:08am
Excellent explanation Jazz,

I have not noticed about the cci under zero line, for a while there, but i agree that could have been the reason, thanks a lot iŽll pay attention to those details from now on, and here is my chart today in eurusd took two trades could you please check them if there ok?

The first move up in early london session did not take it because broke the ribbons already too high although retraced, then went up. thanks.
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  • #1,800
  • Mar 17, 2009 8:13am Mar 17, 2009 8:13am
Quoting blanca
Excellent explanation Jazz,
and here is my chart today in eurusd took two trades could you please check them if there ok?
They are okay Blanca. You could have entered a little bit earlier on crossing CCi with zero.
Where is your Stochastic 5,1,3? It helps with timing.
Trading S/R with PA only. No indicators anymore!
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