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ICCE. Bemac's Fib. Reverse Engineered

  • #881
  • Sep 21, 2009 6:31am Sep 21, 2009 6:31am
why i left.......even plus 1.5

All instant market entry
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  • #882
  • Sep 21, 2009 6:36am Sep 21, 2009 6:36am
Just incase i didnt hear the first time.
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  • #883
  • Sep 21, 2009 7:22am Sep 21, 2009 7:22am
Just for giggles - I put this up. I saw the 11PM to 1AM channel - and there were a couple nice trades off of it - provided you weren't sleeping!

Here is a new one - breakout in progress. I'll post up some shots later.

.
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I'm pretty much done with all this ...
  • #884
  • Sep 21, 2009 7:39am Sep 21, 2009 7:39am
Tastes like chicken.

J16 BEOB on the 15 min chart. 1R.
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I'm pretty much done with all this ...
  • #885
  • Sep 21, 2009 9:36am Sep 21, 2009 9:36am
The 11PM to 1AM channel is working very nicely...

I was asleep for the first marked trade... The ICCE lines can be used as a SL area for the great bars. Demo your entries and SL setting to figure out what kind of SL will work for you. The right kind of bar usually result in very little draw down.

The bar marked with an 'x' did not break enough to be taken, and frankly, was a little wimpy compared to recent bars and did not close within the previous bar. Pass.

That is two nice setups first thing this morning. Easy 2 to 3R on each without anything fancy going on for trade mgmt.


..
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I'm pretty much done with all this ...
  • #886
  • Sep 21, 2009 11:44am Sep 21, 2009 11:44am
Hmmm, to tell you the truth, I have no clue what and how you are triggering, it doesn't come out of your charts.

Scott, smjones, was in the beginning of the indi developement with an hourly related ICCE box but that didn't get very popular and we followed Bemac's real idea, drawing ICCE boxes at consolidation channels.

Quoting Baba G
what do you think guys?
  • #887
  • Sep 21, 2009 11:51am Sep 21, 2009 11:51am
I'm still with the big a$$ channnel with triggered breakout at 7th sep. combinied with a heatmap, red and green lines, levels where I expect S&R for fast daytrade pips.
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  • #888
  • Sep 21, 2009 12:25pm Sep 21, 2009 12:25pm
Quoting cobraforex
I'm still with the big a$$ channnel with triggered breakout at 7th sep. combinied with a heatmap, red and green lines, levels where I expect S&R for fast daytrade pips.
Cool Cob.

I am seeing a few ways to strangle this cat.

The first way is to continue to ride a big channel for a long time. I've got a few of those cooking as well. Longer term trades.

The second is to find them as the form, take trades until another forms and then use that one. Shorter time frames (1 hr and under) seems to be the most interesting this way for me, and you need to be very careful about the PA you pick!

Another is the 11-1AM channel on the EU. (5 min or 15 min)

It seems to me that what ever speed you want to run this at is possible. The targets are very strong and it is not unusual to get 2R+ on the first trade or two out of the channel and then play the bounces (with the trend is least stressful it seems).

I get myself to BE soon, because the good setups tend to take off anyway.

That is my 2 cents worth.
I'm pretty much done with all this ...
  • #889
  • Sep 21, 2009 12:39pm Sep 21, 2009 12:39pm
Hi SP

I use ICCE also for 5M breakout trades but it requieres a retest of the box or a pivot to take a position, no retest => no trade.


Quoting StoragePro
Shorter time frames (1 hr and under) seems to be the most interesting this way for me, and you need to be very careful about the PA you pick! ....
  • #890
  • Sep 21, 2009 12:49pm Sep 21, 2009 12:49pm
Quoting cobraforex
I'm still with the big a$$ channnel with triggered breakout at 7th sep. combinied with a heatmap, red and green lines, levels where I expect S&R for fast daytrade pips.
Drawing the right box has always been my worry (I'm a fussy bugger) and although you have more stuff on your chart we have a similar ICCE-box.

Makes me feel a little more confident.
  • #891
  • Sep 21, 2009 1:02pm Sep 21, 2009 1:02pm
To trigger the right box requieres a little practice with ICCE but looks that you're on the right way Peter.

Some would say that my chart is clutterd with tooooo many lines but FX is all about S&R and I know what each line means for me.

Also this chart I watch once a while as it is a long term one and copy the nearest S&R to my short term charts.


Quoting PeterFM
Drawing the right box has always been my worry (I'm a fussy bugger) and although you have more stuff on your chart we have a similar ICCE-box.

Makes me feel a little more confident.
  • #892
  • Sep 21, 2009 1:10pm Sep 21, 2009 1:10pm
Quoting cobraforex
To trigger the right box requieres a little practice with ICCE but looks that you're on the right way Peter.
I appreciate that.
Quote
Some would say that my chart is clutterd with tooooo many lines but FX is all about S&R and I know what each line means for me.
I look at mine sometimes and think how I would explain my charts to someone else. I'm the same, in as much as every line tells its own story to me.
Quote
Also this chart I watch once a while as it is a long term one and copy the nearest S&R to my short term charts.
Yep, I use MTF as well and do the same as you. Does this mean I'm a proper trader now.
  • #893
  • Sep 21, 2009 1:28pm Sep 21, 2009 1:28pm
We are all learning and that process never stops (at least it shouldn't), it's like in Karate, there is no limit to the upside but as higher your level as more difficult to get the next Dan (belt).

Quoting PeterFM
Does this mean I'm a proper trader now.
  • #894
  • Sep 21, 2009 1:38pm Sep 21, 2009 1:38pm
Drawing these boxes can be troublesome - but I find that looking behind helps me a lot. I look to see if the Fib lines line up reasonably well on PPZ's. That gets my upper and lower bounds pretty close.

Frankly, sometimes a channel just 'feels' right or not. It is amazing how close I come over and over again. The easy channels are pretty clear, the hard ones - I tend to skip.
I'm pretty much done with all this ...
  • #895
  • Sep 21, 2009 1:42pm Sep 21, 2009 1:42pm
OK - I don't call this a premium ICCE entry point, but - it is a PB off a diagonal and at the 50% retrace off the previous swing high.

Not trading this one live, but I've been demoing these off of the diagonals with very nice results. It seems to be another possible entry - if it is also of a PPZ (it is) with other confluence (there is)

..
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I'm pretty much done with all this ...
  • #896
  • Sep 21, 2009 1:44pm Sep 21, 2009 1:44pm
Well said SP , we should only trade AAA setups cause even those can fail.

Why risk more than we need to?

Quoting StoragePro
The easy channels are pretty clear, the hard ones - I tend to skip.
  • #897
  • Sep 21, 2009 1:51pm Sep 21, 2009 1:51pm
Quoting cobraforex

Why risk more than we need to?
Because I wanna get rich by dinner time?
I'm pretty much done with all this ...
  • #898
  • Sep 21, 2009 2:10pm Sep 21, 2009 2:10pm
But may cause that you have to eat Fast Food garbage at dinner.

Quoting StoragePro
Because I wanna get rich by dinner time?
  • #899
  • Sep 21, 2009 3:03pm Sep 21, 2009 3:03pm
Quoting cobraforex
But may cause that you have to eat Fast Food garbage at dinner.
LOL. McDonald's drive through is on the way home from work...
I'm pretty much done with all this ...
  • #900
  • Sep 21, 2009 3:05pm Sep 21, 2009 3:05pm
Here is a nice channel which is waiting for a breakout at USDCHF 15M.

Interesting for correlation of E/U.
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