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  • #2,341
  • May 15, 2009 7:56am May 15, 2009 7:56am
Hi Jazz,
Thanks for your comment.
I did use the post#1-full color version, but it really knows different with ur chart. If it was on ur chart at that time, I may not entry long, because it was within the ribbon, I will wait for a clear breakout of ribboons.
By the way, how many pips distance away from pivots are safe?

Quoting Jazz1964
Hi the2001km,
Welcome to this very strong setup from John Edwards!
You have done a good job by reading all the stuff on the FX50 and the TF Zones. I think you will need just a little time before you can swim by yourself. That's the way how it went for me.

Your interpretation of the zones and indicators is pretty good.

What I tell you now, is about what I see in your chart:
The very best situation is when price jumped further out of TF 5 ribbon and makes a pullback and go.

The way price felt below Kijun line just before, is also a sign that...
  • #2,342
  • May 15, 2009 8:49am May 15, 2009 8:49am
If we are using the same template and indicators (from post#1?), the problem could be that you or me is missing data. Could be me, my demo account has problems sometimes.

Can somebody else post the same chart?
Trading S/R with PA only. No indicators anymore!
  • #2,343
  • May 15, 2009 8:59am May 15, 2009 8:59am
Hi Jazz,
I'm using Demo account too, I don't know if I will have missing data also.
I always use the MT4 demo account to analyze the chart, and enter live in other one. I compare to demo and live, it usually have around 20sec delay.


Quoting Jazz1964
If we are using the same template and indicators (from post#1?), the problem could be that you or me is missing data. Could be me, my demo account has problems sometimes.

Can somebody else post the same chart?
  • #2,344
  • May 15, 2009 10:25am May 15, 2009 10:25am
Hello all,

Have been reading this thread for some time now really appreciate everyone helps! Anyway ... I believe the one that the2001km use is GMT+2 that's why the difficulty in finding the long that he took.

Btw just my opinion, may be others can correct me out. Based on Figure 1 ( Zoom In version), it does seems that price is continuing an uptrend, and the blue ribbon below seems to show that there is a support for it.

But sometimes it is good also to zoom out a little and see how others ribbon is doing. Figure 2 is the zoom out version of the same trade.

1. Here you can see that TF5 is going to clash with TF15. Probably not a good time to trade because we do not know which one will win, TF5 or TF15, and where will price go after the clash? Also if you look closer at the TF5 ribbon, it is widening so less support to push price up.

2. Blue ribbon is also not widening or narrowing. If narrowing, we could at least assume TF15 is supporting uptrend. Or if blue ribbon is widening, we could assume that price will go down through it.

3. Pink ribbon is widening, so this also show that there is no support from all ribbon to push the price up.

So as you can see, price go down after that. A short would have been really nice. Anyway thats what I understand from reading the thread, hope others can correct my mistakes. Thanks.
Attached Image(s) (click to enlarge)
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  • #2,345
  • May 15, 2009 10:55am May 15, 2009 10:55am
Quoting the2001km
Hi Jazz,
I'm using Demo account too, I don't know if I will have missing data also.
I always use the MT4 demo account to analyze the chart, and enter live in other one. I compare to demo and live, it usually have around 20sec delay.
it has to do with the demo account which my broker offers. They have server problems on their demo accounts. That's what they told me.
Trading S/R with PA only. No indicators anymore!
  • #2,346
  • May 15, 2009 11:03am May 15, 2009 11:03am
Quoting the2001km
By the way, how many pips distance away from pivots are safe?
It's a game between the next factors. Talking about an upmove:
- is CCI strong? Negative Divergence into CCI has to make you careful.
- is the support from TF zones strong? e.g. if TF5 zone is far below, it's risky because these traders can take profit near an important pivot or fibo level. But if two or more TF edges are very nearby, then they can give strong support.
- did price already made a strong upmove? If yes, be carefull.

See my attachment. Price breaks out all Zones and comes near to Yesterdays High Pivot. Then it falls back to exactly TF1 Zone and goes up again. Take a sharp look at CCI, which doesn't come high again, showing negative divergence. This is a warning that the pivot can be too strong. Pipdistance to Y-High is very small and Y-High is an important pivot. So if you made your entry on the first vertical line, you better be extra carefull.

Price falls down, making lower lows an a lower high. New down move? I don't think so! Much support overhere from TF5 and TF15 and TF30.

Now I am going to wait for CCI breaking the yellow resistance trendline. If that occurs I can try a long. It happened...I made my entry long, and.....my internet connection and telephone broke down....WOW....okay, call my broker by cell phone and closed my position with a little profit above the pivot!

Your question about pipdistance.... I think 15 pips at minimum. John, what's your opinion? I am not trading Forex, I think most people know that overhere. I am trading FESX index. This system also works on Indexes, futures etcetera.
The trade I made here was too close to the pivotline, but I wanted to beat it. Usually I take around a wave length as minimum. But that's no rule.
Attached Image (click to enlarge)
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Trading S/R with PA only. No indicators anymore!
  • #2,347
  • May 15, 2009 11:14am May 15, 2009 11:14am
Hi Tengkorak,
Thanks for your clear explanation.
I didn’t notice the Pink ribbon was widening.
I entered long because at that time, I thought the breakout of the ribbons was strong enough to go up and above all ribbons. It also rebounded from the yellow ribbon.
Thank you all,
km

Quoting tengkorak
Hello all,

Have been reading this thread for some time now really appreciate everyone helps! Anyway ... I believe the one that the2001km use is GMT+2 that's why the difficulty in finding the long that he took.

Btw just my opinion, may be others can correct me out. Based on Figure 1 ( Zoom In version), it does seems that price is continuing an uptrend, and the blue ribbon below seems to show that there is a support for it.

But sometimes it is good also to zoom out a little and see how others ribbon is doing. Figure 2 is the zoom out version of...
  • #2,348
  • May 15, 2009 11:32am May 15, 2009 11:32am
Quoting tengkorak

1. Here you can see that TF5 is going to clash with TF15.
I don't think you could have known about the upcoming clash, it's in the future. If price would have made a strong upmove, the clash didn't happen!

Quoting tengkorak
2. Blue ribbon is also not widening or narrowing. If narrowing, we could at least assume TF15 is supporting uptrend. Or if blue ribbon is widening, we could assume that price will go down through it.

3. Pink ribbon is widening, so this also show that there is no support from all ribbon to push the price up.
The point is, the blue and pink zones are quiet at distance. Instead of thinking they will give support, I think they first have a certain attraction on price, like a magnet. A breakout is much stronger if most or all of teh zones are just below price.

Quoting tengkorak
So as you can see, price go down after that. A short would have been really nice.
Yes, if pipdistance >35 pips, trading between the ribbons is a good possibility.
Trading S/R with PA only. No indicators anymore!
  • #2,349
  • May 15, 2009 11:49am May 15, 2009 11:49am
Hi Jazz,
It's making me fuzzy...
So at the time I made the Long position was a valid entry?


Quoting Jazz1964
I don't think you could have known about the upcoming clash, it's in the future. If price would have made a strong upmove, the clash didn't happen!



The point is, the blue and pink zones are quiet at distance. Instead of thinking they will give support, I think they first have a certain attraction on price, like a magnet. A breakout is much stronger if most or all of teh zones are just below price.



Yes, if pipdistance >35 pips, trading between the ribbons is a good possibility.
I agree that, I checked back the graph and was finding the mistake from the previous entry, I usually can give myself many reasons. In fact, when it happens again, I still may make the same mistake. hummm.....

Regard,
km
  • #2,350
  • May 15, 2009 11:54am May 15, 2009 11:54am
Thanks for the explaination Jazz ...

This will help us in further understanding the system. By the way, like how you talk about divergences in your examples lately ...
  • #2,351
  • May 15, 2009 12:04pm May 15, 2009 12:04pm
Quoting the2001km
Hi Jazz,
It's making me fuzzy...
So at the time I made the Long position was a valid entry?
It wasn't bad KM! You weren't lucky.
The risks was: the important pivot too close above.
The most beautiful entries are when price makes a beter pullback on TF5.
Trading S/R with PA only. No indicators anymore!
  • #2,352
  • May 15, 2009 12:09pm May 15, 2009 12:09pm
Quoting tengkorak
Thanks for the explaination Jazz ...

This will help us in further understanding the system. By the way, like how you talk about divergences in your examples lately ...
There is a very good pdf about divergence somewhere in this thread. You have to search for it, I am sorry. You can do that a bit easier by clicking the paperclip button.

have a nice weekend all!
Trading S/R with PA only. No indicators anymore!
  • #2,353
  • May 15, 2009 12:14pm May 15, 2009 12:14pm
Thanks Jazz and Tenkorak for the help.

Have a nice long weekend.
  • #2,354
  • May 15, 2009 12:31pm May 15, 2009 12:31pm
Thanks Jazz1964. Really appreciate the details and assistance with John's great system.

=D
  • #2,355
  • May 16, 2009 12:36am May 16, 2009 12:36am
Hi guys,
just wanna share this chart on some entries I saw on EU 15 May. I only took the 1st vertical line between ribbons on my demo and closed out when price hit the Daily low 1st time and went to sleep. This morning, I saw the HPT setup after price retrace to TF5 zone.

John says best entries occur when TF1 is completing a retracement towards TF5 (or TF15) zone and both are above or below other zones. Clearly seen here.

Hope some of you caught the move live.

Have a great weekend.

Pipster
Attached Image (click to enlarge)
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  • #2,356
  • May 16, 2009 3:36am May 16, 2009 3:36am
hi all, happy that this is still alive
JAZZ , waiting all , for a pdf whith some screens and comments of
the most frequent and safe trades , it will be great and helpful !

these last weeks don't make new indics , because working on something else quite different (a painting i've to finished before 28th of may) so i don't have time ; but i have a look on this thread every day )
bye all , have a nice week end

kino
  • #2,357
  • Edited 7:25pm May 19, 2009 7:12pm | Edited 7:25pm
I just enter this 2mins ago.
1-I see divergent on CCI
2-PA all below the ribbons
3-PA passed the 200sma and the FIBO-76.4
It could be a good entry, isn't it?
Anyone plz give me some comments~~?
Thank you.
Attached Image (click to enlarge)
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  • #2,358
  • May 19, 2009 7:40pm May 19, 2009 7:40pm
I already got a quick profit from it after the news.
1-double tops on pivots
2-CCI divergence
3-pull back to pivots after news
I enter when PA left ribbon. I got a quick TP-10pips in 10mins.
I don't know if it will still go down.
Attached Image (click to enlarge)
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  • #2,359
  • Edited 7:47pm May 19, 2009 7:44pm | Edited 7:47pm
Already hit my 20pips TP. out of trade.
I don't know how far it can go.
sniff~~sniff~~~

Quoting the2001km
I just enter this 2mins ago.
1-I see divergent on CCI
2-PA all below the ribbons
3-PA passed the 200sma and the FIBO-76.4
It could be a good entry, isn't it?
Anyone plz give me some comments~~?
Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: 20090519-audusd.gif Size: 34 KB
  • #2,360
  • May 20, 2009 7:15pm May 20, 2009 7:15pm
I just made another entry based on
1- PA quick broke 200SMA and ribbons
2- divergence on CCI before.
3- Pull back exists and passes the previous low where
I entered at 94.50.
4- Prime bars are all red.
5- Most important ----not near any pivots.
That's what i saw, am I missing something?
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