FX-50 Great Scalping System

Thanks to John, here are my first explorations.
Only today i will have an applicable avatar on my profile.

That is quite funny..... What a joke !

this is what I waited for

Okay..... didn't know that these ratio's and numbers have been used in the scriptures. What I know of this is, they are being used in quite a number of structures from the past, like for instance in the Pyramids of Egypt (Cheops Pyramid). There is absoluty much hidden power in these shapes, ratio's and stuctures. Here is a link where I did a liitle bit on Sunwheels in charting some time ago.

http://www.forex-tsd.com/post-compar...et-real-3.html

Sunwheels are the most powerful structures in trading that I know of.
Basically it is a highly religious symbol in Bhuddism and other Asian Religions. If you want to know what a sunwheel is have search for that on Google....

John

Can't find a good link....

I have seen your posts on sunwheels in the past, but didn't get it at that time.
Now I looked again to the posts and it looks good right now. I am interested. Hope it is has nothing to do with astrology

Hi Jazz...Can you post your v3.2 template? Thanks a lot

Here are the v3.1 and v3.2 versions the way I like them. Only some visual adjustments and addition of SMA200.

In the v3.2 I changed the TF1 Ribbon according to John's latest insights.

I didn't attach any indicator, because they're posted before. I hope you're home feeling in this thread and allready have what you need.

Enjoy!

Will realy appriciate if you can post the exact set of indicators again please., or guide to a post wher to find them.

Hi Onlooker,
Welcome to the FX50 thread!
It's not that I am too lazy that I am not attaching the indicators which are required. The reason is that it is necessary to learn the basics about the TF-Ribbons. It takes time before one feels comfortable with the ribbons and can make effort with it. Investing time will give you a good insight in what's happening intraday. Well, that's my experience.

So I advise you to read everything John Edwards have posted from page 100 to the end. You will find the original templates with indi's and a few updated versions.

You can also take a look at the many charts I have posted. I think they are worthwhile. You can see that I made big progress myself on reading the charts.

Have a good time, Cheers
Jazz

A nice chart for you.
This is v3.1 with extra addition of KijunTenkan in pink.... just curious....
I wish you all a good trading day.

Hi Jazz,
Thanks for the templates. I have all the other indis. Been following this thread diligently from day 1.

Happy Pipping

Hi JE,Jazz,
I took a long trade on the GU at the arrow a few minutes ago. Price dropped down fast after this. I saw it as a valid trade based on:
1) price just broke above TF5
2) waited for it to retrace to TF1 and above kijun, also retrace to just above pivot
3)TF5 & TF1 providing support at entry
4) pullback of CCI89 to SMA and +67

I was concerned that the CCI 89 was above SMA & +67 for a long time before my entry so not sure if there is still anything left in the CCI to provide "power boost" upwards. I appreciate your advice what I did wrong here.

Regards,
Satini

Nothing really wrong with it.
If your stoploss is hit, it was too small.
Look at the way up it has allready done. That was pretty long, so the risk for a retracement was present. You are right with your concern on the CCI. It was better when it had made a retracement to zero or under zero.
R1 is often an important resistance
That's what I see.....
And futhermore I see profit.....

Jazz,
On my fxdd platform, price retraced much deeper....sigh. Anyway, would the white line be a much better entry after CCI recross 0?

Satini

I am missing data on my chart! that happens often last week, ......Broco.
So your chart is okay. Pitty for you.....

What I would like to bring up to discussion is the importance of the pivotlevel H3. In my opinion H3/L3 is not an important level that will take me away from an entry. This insertion needs to be affirmed or refuted.... anyone? Does anyone have some adducational stuff on the the importance of pivotlevels?

The biggest threat on your entry is the long way up allready made. There have been several bounces on TF1 ribbon. You can see negative divergance on the CCI

I would have done an earlier entry, if I felt I had to do something. But also that one is not a brilliant very high prob one, because of TF5 near above. But not too risky.

I like entries when price is above/under all ribbons when the ribbons are more together.

I gathered in a pdf file the most important posts and sample charts of the FX50 trading system with ribbons. This is a good summary and I share it with you, to give you the opportunity to read back the theory easely. From time to time I read it again too.
It's a collection of information, not a compendium.
The original stuff, including templates and indicator files, was posted by John Edwards starting on page 100.
Success!

Hi Jazz,
Thanks for the pdf. Very helpful certainly....

Many green pips,
Satini

I have found this indicator VERY helpful myself. I use
it very successfully on a 5 min setup, but this has
recently become part of my FX prime/ribbon setup
and I love it with the setting I have now.

It works great as is on the 5 min charts, but for the
1 min setup, I just change the cci from 5 to 89. Then
it will put an alert on every candle when the 89 cci
hits 165 or higher. You will see that almost every time
you would enter and this alert hits, it was a good idea
not to enter... good enough reason, but secondly
it also gives alert at great times to start considering
ending a trade.

Sometimes you can squeeze out more pips so I dont
exit immediately..but it gives me warning to start
watching closely and sometimes it gives a perfect
exit so its good to be alerted to watch.

I would LOVE if anyone here knows how to do the exact
same type of indicator but for the bollinger squeeze
vstock 513? So.. that indicator can show when the
bolling squeeze is overheated just in the same way..
the best trades are when it is at 23.6 or higher, but
when it hits 50 its overheated and almost always
means end to the current move. It would be great
to have a bollinger squeeze overheated alert set at
50 in the exact same way this cci overheated alert works.

Anyone?

Thanks and I hope this helps others like I find it very helpful$

Brian

PS: If anyone can do a bollinger squeeze overheated version of this cci alert,
make the alert paint red so we know which one is alerting It would be awesome.

Hi Brian,
overheated at 50 or 200? Or....
I am not a coder, so I can't help you.

Hi Pipster,

You didn't make a very wrong entry here..... however you may next time consider the following:

1. TF1 zone is crossing above TF5zone..... not TF1zone is retracing towards and next taking off again above TF5zone. Sometimes a crossing may be Okay, f.i. when shortly before TF1zone started taking off from TF15zone immediately under TF5zone.

2. In this chart however price has come a long way already.... look at CCI how long it has been green... so the question is how much renewal force may be expected at this point in time for price to make another break through?

Next there is a Pivotline very close above or near to your entry point. Price has not yet come above the Pivotline and make a retracement back towards...... and after such a retracement stayed above that Pivotline.
Think of Pivotlines on TF1 charts not being a single line.... but as an area with 5 - 7 pips (depending on currencypair) on both sides where price still may fall back under the Pivotline or rise above it again.... if price dropped just under that Pivotline.

Remember these same Fib- and Pivotlines are also used by other traders on TF30, TF60, TF240, ect. On those timeframes 5 -7 pips is hardly to be seen as an area on both sides....

3. TF1 Zone on this chart has not quite recently made a connection with any of the TFzones..... as such that TF1 zone bounced an started rising above that zone. That sort of connection happened a while ago at about 17:06 hrs, where TF1zone fell into TF15 zone. Next you see TF1zone rise above TF15 zone >>>> This is important for right at this moment TF1 and TF15 traders are in agreement to start buying respectively hold their positions.

TF5 traders however are still waiting what price is going to do. As you can see TF5zone is hoovering above TF1 and TF15zone. So for TF5 zone traders now the question is..... will price rise above the TF5 zone level..... or will it not be able to cross and will price start dropping from this TF5 level...... when price reaches this level? You better avoid these kind of situations.

If price drops at this level it means TF5 traders are are not going ahead with TF1Zone and TF15Zone traders, but they start taking profits. If on the other hand price continues to rise it means that TF5 zone trades join the club and at least hold their positions or also start buying/adding to their positions. Usually in a situation like this you will see price continuing to rise after some hesitation, which is the case here as well.

If it were the other way around... think of it as if TF5zone and TF15zone were in each others place.... it would have been much more more difficult for price to rise above TF15 level.

Anyway the better trade setups arrive when TF1 zone is completing a retracement towards TF5 (or TF15) zone and both are above the other zones. Immediately when price now takes off from TF1zone and there is no Pivot- or Fibline obstrucion you enter for long. Same goes for short the other way around of course.

As Jazz stated this trade could have gone the right way, but I also think you expected price to continue to rise immediately and therefore you had put in a tight stoploss or closed yourself the trade a little too early. Look at the Red Randy Candle still above the Kijun/Tenkan as your tradeguider..... and indeed next prise continued to rise.

Hope this helps, John

Two examples which happened today shortly afterwards the first part of my reply...... exactly fit this reply and whereas a picture tells more than a 1000 words...... here is that chart to prove it !!! For this I made use of Jazz1964 template.

B.T.W. If you make two or three trades a week according to this setup..... you may say goodbeye to your boss.....

Cheers, John