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ICCE. Bemac's Fib. Reverse Engineered

  • #101
  • Apr 13, 2009 8:03pm Apr 13, 2009 8:03pm
Shorted AUDUSD. Actually the upper fib channel was drawn after I took the short- I was entering off the previous channel which looked like support for it had been broken. We'll see if it gets down to 38% (.7267).
Attached Image (click to enlarge)
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Is your SL my TP?
  • #102
  • Apr 13, 2009 8:03pm Apr 13, 2009 8:03pm
Sorry guys;

Don't you just love Daycare for Kids.

Grandson brought home 'Pink Eye' and was generous enough to share it with me.

Haven't spent anywhere near the time on the computor the last few days as I intended.
  • #103
  • Apr 13, 2009 8:16pm Apr 13, 2009 8:16pm
Quoting Bemac
Sorry guys;

Don't you just love Daycare for Kids.

Grandson brought home 'Pink Eye' and was generous enough to share it with me.

Haven't spent anywhere near the time on the computor the last few days as I intended.
ugh. At least no reports of vomiting. I never got sick until I had a critter.
I'm pretty much done with all this ...
  • #104
  • Apr 13, 2009 8:19pm Apr 13, 2009 8:19pm
Quoting Bemac
Grandson brought home 'Pink Eye' and was generous enough to share it with me.
Nice family you got, sharing stuff with opa, lol.

Hope you get cured soon.
  • #105
  • Apr 13, 2009 9:08pm Apr 13, 2009 9:08pm
Thanks for showing that Cobra, the updated 30-min Eur/Usd is attached. And good thing about it was, I didn't really take a good look (in fact, didn't look at all) at your defined range; and I went about defining my own. Turns out that BOTH of channels at the bottom before the up move were the same. Take care

In fact, nothing to update except seeing the market respects the originally tacked ICCE before the holidays. And it's REALLY interesting to see the the fib cluster intersected and the Eur/Usd did its intraday sell off in Asian Session.

Jeff

Quoting cobraforex
First screenshot was my trade from yesterday (could cash 140+pips on that one), second I'm waiting for a breakout.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR ICCE 04142009 (i).jpg Size: 156 KB
Click to Enlarge Name: EUR ICCE 04142009 (ii).jpg Size: 166 KB
~*~You are only one trade away from humility~*~
  • #106
  • Apr 13, 2009 10:58pm Apr 13, 2009 10:58pm
I figured I'd keep contributing here since I really like the premises in this handy dandy methodology. Did we hit a new channel on the 4hr GBPJPY? Bueller?
Attached Image (click to enlarge)
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  • #107
  • Apr 13, 2009 11:54pm Apr 13, 2009 11:54pm
Good interpretations, StoragePro. Thanks for 'speaking out loud' for us.
Have a good one
Jeff

Quoting StoragePro
Breakout on the upper part of the channel occurring.

Let's see where we go. Looks like a first area of hesitation may occur at 1.4840 (Some bar highs just to the left.) Then on towards 1.500. Great confluence of the 61.8% fib and a big round number.

Wonder what will happen at 1.4950 first? Bar highs sitting right there, I suspect some trouble.

Maybe an eventual run to the next fib 1.5376 on this leg?

EDIT: Selling occurring at 1.4840-ish area. Just like the chart said it might. Watching....
~*~You are only one trade away from humility~*~
  • #108
  • Edited 12:48am Apr 14, 2009 12:34am | Edited 12:48am

  1. while i had some success with the 15 min chart, I have a need to experiment to relate the 15 min channel to the larger picture..here is a personal musing in progress ..
  2. after viewng a daily chart and checking of R&S on the weekly chart.
  3. a mega channel may be forming due to range trading the euro/usd.
  4. using kihl's tool, it can be discerned? on the daily chart, top/1.3658, lo/1.3115 mean/1.3386 since 18th march
  5. we were driven off the lo yesterday during low liquidity conditions and are now sitting at this mean ie 50% area
  6. if this is a mega channel, the 50% area can be problematic as it can go any direction (and because of yesterday's low liquidity drive), therefore i wait for london to show the way before setting the 15 minute chart channel parameters and backchecking vs the daily chart.
  7. a nice target on an up move would be the upper hi of 1.3658. this would still be in place with a pullback to 1.3250ish,a 50% area established on the 15min chart around the 7th to 9 th of april

the finer scale channel has been set using the 5 minute chart
hi/1.3372, lo/1.3356 mean/1.3364 and bounce off the 30 fib line back to the mean

  • #109
  • Edited 2:14am Apr 14, 2009 1:52am | Edited 2:14am
This has become very tricky to trade, maybe we need to widen the range like jsh01 mentioned.

Add: Nope, I remember the maestro saying:

Quoting Bemac
Woahhh there big Fella...

Once the Values are set there will be No Repainting.
Once I make a descion to Trade I will Not ReTrade.
That's all
Attached Image (click to enlarge)
Click to Enlarge Name: icce8.gif Size: 28 KB
  • #110
  • Apr 14, 2009 2:11am Apr 14, 2009 2:11am
Missed this one, blame it on my cat! Right on the ICCE's important clusters AND my fork's down sloping median line. Could have entered the trade still; but I was being too cheap in such occasion.


Quoting cobraforex
This has become very tricky to trade, maybe we need to widen the range like jsh01 mentioned.
~*~You are only one trade away from humility~*~
  • #111
  • Apr 14, 2009 2:23am Apr 14, 2009 2:23am
Quoting jharteam
Missed this one, blame it on my cat! Right on the ICCE's important clusters AND my fork's down sloping median line. Could have entered the trade still; but I was being too cheap in such occasion.
I'm in and out three times now, tell a scalper blood like me: Once I make a descion to Trade I will Not ReTrade.


If I only had more patience to stay longer in a trade
  • #112
  • Apr 14, 2009 2:27am Apr 14, 2009 2:27am
It not only happens to scalpers, happens to all of us. We just DON'T know what the market will do next; best thing is to take some off the table when the going is good. That said, we have already tried our best to stack those odds for us by having quality entries.


Quoting cobraforex
I'm in and out three times now, tell a scalper blood like me: Once I make a descion to Trade I will Not ReTrade.


If I only had more patience to stay longer in a trade
~*~You are only one trade away from humility~*~
  • #113
  • Apr 14, 2009 2:47am Apr 14, 2009 2:47am
Quoting jharteam
best thing is to take some off the table when the going is good.
My old dad always said: Better the bird in the hand than the eagle on the roof.
  • #114
  • Apr 14, 2009 2:51am Apr 14, 2009 2:51am
Measured Move achieved as well....wow! IOWs, AB=CD Harmonic
Attached Image (click to enlarge)
Click to Enlarge Name: EUR ICCE 04142009 (iii).jpg Size: 149 KB
~*~You are only one trade away from humility~*~
  • #115
  • Apr 14, 2009 2:53am Apr 14, 2009 2:53am
Dear Cobra,
i guess what i am having a squizz at is attempting to glean any clue / relationship between

    1. the fine channel fibs from yesterday that we are using today
    2. any mega channel thats biult up over days
    3. any mega monthly/weekly/daily established R&S lines
    4. any significant " ghostlike" older channels that might play a R&S role
    5. and at the same time, how to avoid having 15 thousand lines!!!

  • #116
  • Apr 14, 2009 3:09am Apr 14, 2009 3:09am
Quoting jsh01
Dear Cobra,
i guess what i am having a squizz at is attempting to glean any clue / relationship between

    1. the fine channel fibs from yesterday that we are using today
    2. any mega channel thats biult up over days
    3. any mega monthly/weekly/daily established R&S lines
    4. any significant " ghostlike" older channels that might play a R&S role
    5. and at the same time, how to avoid having 15 thousand lines!!!

yep, if those levels come together, it makes them stronger.

Draw a standart fib from yesterdays low to high and you see that 38.2% comes together with 23.6% of ICCE and 50% fib with 14.6% ICCE. And if we go to draw some more fibs and S&R I'm sure we find some more surprises.

The real problem is your point #5
  • #117
  • Apr 14, 2009 4:01am Apr 14, 2009 4:01am
So far today. Been a fairly easy way to trade. I just wait for the re-test and the set a stop entry.
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  • #118
  • Edited 4:49am Apr 14, 2009 4:19am | Edited 4:49am
yes Cobra you are right,
we have confluence at around 1.3260 of ICCE 14.6 and fib 50%
plus
near end of month close for March which is (maybe) a strong number ( 1.3256)
as the base to test to move up
  • #119
  • Apr 14, 2009 7:38am Apr 14, 2009 7:38am
Plotting the channel on E/U that Bemac spoke of generally happening in the hours before Asia opens, assuming that the tweezer tops @50% (1.3364) really are the halfway mark of the move, I faded the line @ the 23%, and am looking for a TP @ 0% (1.3215).
Attached Image (click to enlarge)
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Is your SL my TP?
  • #120
  • Apr 14, 2009 7:41am Apr 14, 2009 7:41am
Another added short off an eight.
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