FX-50 Great Scalping System | Page 100 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

The Great 05 Level Scalping System 110 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Blackdiamond System - Awesome scalping system (Coding Reqd) 9 replies

Average system + great discipline =great results? 44 replies

Attachments: FX-50 Great Scalping System
Exit Attachments

FX-50 Great Scalping System

  • #1,981
  • Mar 30, 2009 5:26am Mar 30, 2009 5:26am
Quoting John Edwards
Jazz,

This would be even better and suppose the setting of the TF1 zone could be adjusted..... You than still can adjust for Brian's original concept as well, i.e. the bigger scale High Prob Area's....

THX, John
lol don't know there is aanother ribbon , the TF30 ribbon !
so if i have time today i will print all the last posts and read them concensiouly ! and ...

i'm coming back on Monday 6th April
but this afternoon i'll do my best
bye

kino
  • #1,982
  • Edited 5:49am Mar 30, 2009 5:35am | Edited 5:49am
two indicators version
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 44 KB
Trading S/R with PA only. No indicators anymore!
  • #1,983
  • Mar 30, 2009 5:38am Mar 30, 2009 5:38am
Hi buddies,

this is my new 5m TF template, i think it's worth trying...
zip file includes .tpl and indis files.

cheers,
Attached File(s)
File Type: zip 5mTF.zip   33 KB | 1,052 downloads
  • #1,984
  • Mar 30, 2009 5:49am Mar 30, 2009 5:49am
Can anyone comment why this setup was doomed to fail for a short trade here? Compared to the previous three shorts on EurUsd?

Because if you see the differences in the setups...... You will next time quite easy see up front why it has not the potential of becoming a succesfull trade like the previous three trades.

Please give your views......

John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd updated system 9.gif Size: 50 KB
  • #1,985
  • Mar 30, 2009 5:51am Mar 30, 2009 5:51am
KijunTenkan is not in free area.......


Quoting John Edwards
Can anyone comment why this setup was doomed to fail for a short trade here? Compared to the previous three shorts on EurUsd?
Trading S/R with PA only. No indicators anymore!
  • #1,986
  • Edited 7:48am Mar 30, 2009 7:21am | Edited 7:48am
If you you closer Jazz you will notice that the Kijun/Tenkan is just outside the TF1zone, making a weird jump and certainly not close alongside one of the ribbons or inside the the TF1 zone.

Price is already under the Kijun/Tenkan which could be a signal for short.... but this far to weak to go ahead.

Other signs that is not going to be a strong jump down are:

1. The CCI is moving up for some time towards the zeroline and SMA has been above Zero and Above +67. In the previous cases we saw the CCI quite recently crossing down through zero while SMA going under +67 line.

2. Price is hoovering already for some time in zig-zag around a pivotline or fibline, which are signs of a possible trendreversal.

3. Try to draw same sort of triangle as with the three previous breakouts to secure a serious breakout here as well..... You will not succeed.

Breaking out of a triangle shape always gives a boost to price. Lack of boost power is one of the most significant marks of a failing trade.

4. There were already three shorts in a row, which usually marks the end of a complete Elliot Wave .

Have a look at my next post to see how you could have traded the breakout to upside.

Cheers, John

Quoting Jazz1964
KijunTenkan is not in free area.......
  • #1,987
  • Mar 30, 2009 7:26am Mar 30, 2009 7:26am
Quoting John Edwards
If you you closer Jazz you will notice that the Kijun/Tenkan is just outside the TF1zone, making a weird jump and certainly ext post to see how you could have traded the breakout to upside.

Cheers, John
can you explain quickly what is a1 ?
because no time to look all the posts now
kino
  • #1,988
  • Mar 30, 2009 7:36am Mar 30, 2009 7:36am
Here we have a "cup and saucer " shape, Usually these are much wider in shape, but nevertheless you also can identify it as V-shape with two arms. The arm on the right hand falls just under the TF5Zone after two bounces marked by the small circles.

This is a very powerful shape. First of all it identifies a trend reversal..... the end of an Elliot Cycle and the beginning of a new Elliot Cycle. When you see it occur there is always boost power right at the moment when price rises up or falls down from this right arm. I once read on some trading forum that this could be referred to as NOAH's arm and hand...... Out of the hand the pigeon flies up in the sky !

Here it is particularly nice to see the making of it just under a TF5 Zone and and breaking right into it and above it..... straight up towards the TF15 zone.

Just wanted to share this, John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd updated system 10.gif Size: 53 KB
  • #1,989
  • Mar 30, 2009 7:45am Mar 30, 2009 7:45am
Kino,

I think you are referring to one the latest posts by Jazz1964.

Jazz if you see this.... Please would post a reply for Kino?

THX, John

Quoting kinonen
can you explain quickly what is a1 ?
because no time to look all the posts now
kino
  • #1,990
  • Mar 30, 2009 7:52am Mar 30, 2009 7:52am
Quoting kinonen
can you explain quickly what is a1 ?
because no time to look all the posts now
kino

general measurement: check for all TF Ribbon(1,5,15,30) if Ribbon minus price is positive or negative. So this are 4 checks. The 4 results are
a1 = negative or positive
a5 = negative or positive
a15= negative or positive
a30= negative or positive

Can you understand what I meant Kinonen?? Otherwise I will try to explain again.
Trading S/R with PA only. No indicators anymore!
  • #1,991
  • Mar 30, 2009 8:06am Mar 30, 2009 8:06am
Quoting Jazz1964

general measurement: check for all TF Ribbon(1,5,15,30) if Ribbon minus price is positive or negative. So this are 4 checks. The 4 results are
a1 = negative or positive
a5 = negative or positive
[color=SeaGreen][color=Black][color=Red][color=Black][color=DarkOrange]...
On the chart below only TF1 is positive
the other TF's are negative.

You can see that by eye, but you can easily calculate it:
If Ribbonprice -Current Price >0 than it is positive.
Else it is negative
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 45 KB
Trading S/R with PA only. No indicators anymore!
  • #1,992
  • Mar 30, 2009 8:26am Mar 30, 2009 8:26am
Quoting Jazz1964

general measurement: check for all TF Ribbon(1,5,15,30) if Ribbon minus price is positive or negative. So this are 4 checks. The 4 results are
a1 = negative or positive
a5 = negative or positive
[color=seagreen][color=black][color=red][color=black]a15=...
understood !

kino
  • #1,993
  • Mar 30, 2009 10:07am Mar 30, 2009 10:07am
It's good to see that you found time today to show us some trade exemples, John. Great stuff! As always, I will study them next days. Maybe I will post some charts again with situations like the ones you described.
In the meantime I enjoy looking at the markets with the eye of Big Brother, who spies accurate the behaviour of all the different timeframe-traders. So I can easely spot what actually is happening.

Send us some more puzzles!
Trading S/R with PA only. No indicators anymore!
  • #1,994
  • Mar 30, 2009 12:45pm Mar 30, 2009 12:45pm
Quoting kinonen
understood !

kino

gonna be crazy with ribbons
doesn't work everywhere ! and different if TF=1 or 5 !!
see that after holydays , sorry
kino
Attached Image (click to enlarge)
Click to Enlarge Name: kino 's8.gif Size: 73 KB
  • #1,995
  • Mar 30, 2009 1:20pm Mar 30, 2009 1:20pm
John Edwards, thanx a lot for your work! It's really great!
But i still have some frustration about it...
And you know why? I can't choose the best template of yours Action Trade setups.
I see a great difference between v3.1 and v3.2. I really can't understand, for what purposes Tick-Ribbon invented...
The question is... Which template is the best?
  • #1,996
  • Mar 30, 2009 3:41pm Mar 30, 2009 3:41pm
Quoting kinonen
gonna be crazy with ribbons
doesn't work everywhere ! and different if TF=1 or 5 !!
see that after holydays , sorry
kino
Yes Kini, just take your holiday!
People need time for resting from work!
Thanks for always being helpfull
Cheers, Jazz
Trading S/R with PA only. No indicators anymore!
  • #1,997
  • Mar 31, 2009 1:29am Mar 31, 2009 1:29am
Hi Wheel,

The V3.1 template uses one more Zone..... an even faster zone than the TF1 Zone. This one is only used to pinpoint entries with regard to the TF1 Zone and it is also used for tradeguidance, i.e. when you entered a trade it helps you to find the exit point of the trade.

The V3.2 template doesn't use this faster Zone. Instead of that we here use the Kijun/Tenkan to help us pinpoint entries and exits. When using this template you look for the first retracement after price has crossed the TF1Zone above or below one of the other Zones. There you most of the time find the best entry points, i.e. most of the time this will be just above or below the TF5Zone. At this same moment you take care that pipdistance towards another TFzone, Pivot- or Fibline is more than 35 pips away.

When price doesn't see any of these zones below or above it..... you than have a great chance for entering a High Prob Trade.

Yesterday I changed the settings for TF1Zone on this V3.2 template when using triangles to help find entries. You will find these settings in one of my latest posts in this thread. Also you will find several examples how to draw and use these triangles.

This is the way how I now use template V3.2.

In the chart below there is an example of such a retracement. Pipistance towards the lower TFZone is a little less than 35 pips, however the retracement is a perfect one. Secondly the Kijun/Tenkan is horizontal over a relative long distance inside the TF1 Zone and price has no chance of getting above the Kijun/Tnkan. Next there is a yellow dot of the BrainTrend4Sig very close to price just under the TF1Zone.
Further validation is found on the CCI crossing zero and SMA already under zeroline. Upper (fast) FXprime is red and Lower (slow)FXprime shows a white dot.....


Hope this makes it clear,

John


Quoting Wheel
John Edwards, thanx a lot for your work! It's really great!
But i still have some frustration about it...
And you know why? I can't choose the best template of yours Action Trade setups.
I see a great difference between v3.1 and v3.2. I really can't understand, for what purposes Tick-Ribbon invented...
The question is... Which template is the best?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd updated system 11.gif Size: 32 KB
  • #1,998
  • Mar 31, 2009 3:54am Mar 31, 2009 3:54am
Yesterday's V-shape trade example is a bit different from the one we saw happening here...

This V-Shape has two short arms left and on the right hand we see one short arm (trial for breakout) and the next one succeeds the breakout.

As the story goes NOAH gave the pigeon a trial flight first (first trial for breakout on the right)...... however the pigeon returned with a little branch..... (indicating it won't be long anymore). The next time NOAH let the pigeon fly..... it went up in the sky and it didn't return !!!
I like this aphorism so much...

When you have developed an eye for this powerfull V-Shape setup...... You'll see them happening again and again.

Cheers, John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd updated system 12.gif Size: 38 KB
  • #1,999
  • Mar 31, 2009 4:09am Mar 31, 2009 4:09am
Quoting John Edwards
This V-Shape has two short arms left and on the right hand we see one short arm (trial for breakout) and the next one succeeds the breakout.

As the story goes NOAH gave the pigeon a trial flight first (first trial for breakout on the right)...... however the pigeon returned with a little branch..... (indicating it won't be long anymore). The next time NOAH let the pigeon fly..... it went up in the sky and it didn't return !!!
So the left two arms are the animals walking in currencypairs into the ark?
Trading S/R with PA only. No indicators anymore!
  • #2,000
  • Mar 31, 2009 4:21am Mar 31, 2009 4:21am
"One of the most intriguing, if not mysterious, aspects of Forex Trading is the application of Fibonacci numbers in technical anaysis of the market.........

......1.618, and this very significant fibonacci number is known as the "golden ratio", "golden mean", and "divine proportion", among other names.
..........
This ratio can even be found in the Holy Bible. Two such examples are the ratios in the proportions of the Ark of the Covenant (Exodus 25:10) and the construction of Noah's Ark (Genesis 6:15)."
Trading S/R with PA only. No indicators anymore!
0 traders viewing now