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ICCE. Bemac's Fib. Reverse Engineered

  • #501
  • Jun 23, 2009 2:45pm Jun 23, 2009 2:45pm
I posted this chart in AK's E/U thread but think it should be archived here as well.

The possible (in that moment) box was triggered by Bemac 3 hours before breakout.

I traded about the half of the run (61.8%) until the sack was full of pips and I closed the trading room (I have a daily pip target)

Took a smaller short order now at 76.4% (1.4100) with target in the 1.402x area (longer term)
Attached Image (click to enlarge)
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  • #502
  • Jun 24, 2009 7:53pm Jun 24, 2009 7:53pm
Quoting cobraforex
I posted this chart in AK's E/U thread but think it should be archived here as well.

The possible (in that moment) box was triggered by Bemac 3 hours before breakout.

I traded about the half of the run (61.8%) until the sack was full of pips and I closed the trading room (I have a daily pip target)

Took a smaller short order now at 76.4% (1.4100) with target in the 1.402x area (longer term)
Sheesh. This fib majik never fails to amaze. To the pip - 100%. Nice trade.

Question - did you enter on the retrace of the first bar after the breakout? I like those, but the blind entry give me the willy's to much right now to do that live.
I'm pretty much done with all this ...
  • #503
  • Edited 8:27pm Jun 24, 2009 8:14pm | Edited 8:27pm
I nominate 47.2 & 52.8 be Honourary Members of the Elite Fib Group.

Has anyone tried any other calibrations?

Way ta go Cob. Kinda makes ya wanna see some Range Trading don't it.

Did you notice that the 100% move you caught lined up with the neckline of the H&S from late May to early June?
Check it out on the 4H TF.

Hmmm... Does that offer a clue as to direction? Perhaps.
My bias {which can turn on a dime} is South to 1.35xx
  • #504
  • Jun 24, 2009 10:20pm Jun 24, 2009 10:20pm
Yes Bill, I have a special Chart (heatmap) on 4H (I think I posted it once) which I actualizate before trading the London session with the historical S&R levels.

They help me to calibrate the ICCE fib levels once a channel is triggered.

Quoting Bemac

Did you notice that the 100% move you caught lined up with the neckline of the H&S from late May to early June?
Check it out on the 4H TF.

Hmmm... Does that offer a clue as to direction? Perhaps.
My bias {which can turn on a dime} is South to 1.35xx
  • #505
  • Jun 24, 2009 10:23pm Jun 24, 2009 10:23pm
Hi SP,
When a breakout occours on 1H I'm getting down to 1M and 5M and buy or sell on the first dips, that keeps my SL low (being a scalper helps sometimes in longer term trades, lol)

Quoting StoragePro
Sheesh. This fib majik never fails to amaze. To the pip - 100%. Nice trade.

Question - did you enter on the retrace of the first bar after the breakout? I like those, but the blind entry give me the willy's to much right now to do that live.
  • #506
  • Jun 25, 2009 1:59pm Jun 25, 2009 1:59pm
Chart -

Play around with some default fibs on previous price swings. There some interesting results.
Attached Image (click to enlarge)
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I'm pretty much done with all this ...
  • #507
  • Jun 27, 2009 12:18pm Jun 27, 2009 12:18pm
Quoting StoragePro
Chart -

Play around with some default fibs on previous price swings. There some interesting results.
Possible scenario.
Attached Image (click to enlarge)
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The Hand Drawn {maroon} TL suggests 7 More x 4Hr bars before the End of The Box. (28 - 32 Hours of Trading)

This is Speculative & does not suggest Direction {Long or Short}
Attached Image (click to enlarge)
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  • #508
  • Jun 27, 2009 9:03pm Jun 27, 2009 9:03pm
Remember to check the corrolated Pairs.
  • #509
  • Jun 30, 2009 8:21am Jun 30, 2009 8:21am
So far, so good.
Attached Image (click to enlarge)
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Nice Break when projected. {see 2 posts ago}
Also Nice Pin Bar.
Now where do you suppose it may be headed?
  • #510
  • Jul 4, 2009 7:22am Jul 4, 2009 7:22am
I only trade the EUR/USD right now. I am still in the infancy of my trading career (I hope to have a trading career), but you bring up a good point with the correlation angle.

If you can define a channel on two or three pairs then the correlation factor may help define false breakouts. I believe you just gave me another homework assignment.

I think I'll start by watching USD/CHF---GBP/USD----EUR/USD
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  • #511
  • Jul 4, 2009 9:28am Jul 4, 2009 9:28am
hi at all, i'm new in this 3d, where can i find a manual for icce? i downloaded the latest version of miss pips, v3
i tray to read your posts but understand nothing :o
  • #512
  • Jul 4, 2009 10:34am Jul 4, 2009 10:34am
Quoting pattinatore
hi at all, i'm new in this 3d, where can i find a manual for icce? i downloaded the latest version of miss pips, v3
i tray to read your posts but understand nothing :o

To my knowledge, there is no manual. If you have ever traded open ranges, I would suggest using the same entry and stop-loss method. Use the fibs as take profit or partial profit and ride to the next fib. That's the way I'm paper trading it now.

I still trade my standard fibs with the trend but this is really freaking cool. Good luck, and if you haven't range traded Google it.

And if someone has a better answer, try them both.
  • #513
  • Jul 4, 2009 1:32pm Jul 4, 2009 1:32pm
Quoting knuckledrag
To my knowledge, there is no manual. If you have ever traded open ranges, I would suggest using the same entry and stop-loss method. Use the fibs as take profit or partial profit and ride to the next fib. That's the way I'm paper trading it now.

I still trade my standard fibs with the trend but this is really freaking cool. Good luck, and if you haven't range traded Google it.

And if someone has a better answer, try them both.
hmm but is it a breackout strategy? with target of fibo levels?
  • #514
  • Jul 4, 2009 3:51pm Jul 4, 2009 3:51pm
Quoting pattinatore
hmm but is it a breackout strategy? with target of fibo levels?

It's whatever you can make of it
If you can find something better than range trading to do with it let me know.
  • #515
  • Jul 6, 2009 6:18am Jul 6, 2009 6:18am
it deow this boxe and those line when i add it.. only when i add it!
Attached Image
  • #516
  • Jul 6, 2009 12:13pm Jul 6, 2009 12:13pm
Retest of the lower channel level.

Quoting Bemac
So far, so good.

Nice Break when projected. {see 2 posts ago}
Also Nice Pin Bar.
Now where do you suppose it may be headed?
Attached Image (click to enlarge)
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  • #517
  • Jul 6, 2009 4:40pm Jul 6, 2009 4:40pm
Quoting cobraforex
Retest of the lower channel level.
hi cobra! i don't have same thing on my graph... i have aver a small rectangle with only two candles inside..
  • #518
  • Jul 6, 2009 4:52pm Jul 6, 2009 4:52pm
Two candles is not a channel, but if I go to weekly chart I will have probably about three candles in my box.

I prefere 1H and 4H with the ICCE method and trigger the channel with the candle that entered and broke it as beginning and end of it.

Quoting pattinatore
hi cobra! i don't have same thing on my graph... i have aver a small rectangle with only two candles inside..
  • #519
  • Jul 6, 2009 5:17pm Jul 6, 2009 5:17pm
Quoting cobraforex
Two candles is not a channel, but if I go to weekly chart I will have probably about three candles in my box.

I prefere 1H and 4H with the ICCE method and trigger the channel with the candle that entered and broke it as beginning and end of it.
those are h4 gbp/usd and h1 eur/usd! i use the last indicator by miss pips with default settings
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  • #520
  • Jul 6, 2009 5:22pm Jul 6, 2009 5:22pm
Ok, but you miss the main idea of this method, the channels.

You need to trigger a box where the PA is ranging for a certain time.

Have a look to Bemac's posts, than you will get an idea how to use it properly.
Quoting pattinatore
those are h4 gbp/usd and h1 eur/usd! i use the last indicator by miss pips with default settings
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