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ICCE. Bemac's Fib. Reverse Engineered

  • #921
  • Edited 11:03pm Sep 21, 2009 10:39pm | Edited 11:03pm
Corrected
From Prediction (Post# 902 http://www.forexfactory.com/showpost...&postcount=902)
To Actual...
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How can I explain all the ways ??
  • #922
  • Sep 22, 2009 12:27am Sep 22, 2009 12:27am
Thanks for your feed back.......G
  • #923
  • Sep 22, 2009 12:50am Sep 22, 2009 12:50am
Helo Bemac,
was Your entry point after price broke chanell and then retested it ?

Thank You.

Best,
Tom

Quoting Bemac
Corrected
From Prediction (Post# 902 http://www.forexfactory.com/showpost...&postcount=902)
To Actual...
Attachment
How can I explain all the ways ??
  • #924
  • Sep 22, 2009 1:40am Sep 22, 2009 1:40am
[quote=cobraforex;3077270]Hmmm, to tell you the truth, I have no clue what and how you are triggering, it doesn't come out of your charts.

Im sorry Cobra i just highlighted the Price Action bar of choice at the ICCE fib level.And the green line was my entry point.I chart with mt4 but my platform is Swiss.

As long as you can call a good P.A bar i guess one will always be on side.

The confluance of good bars at my(i guess) ICCE fibs are what got my attention in the first place and im glad i dont have the responsibility of finding the box.Q.E.D is always a good test and as i dont have to look the other man in the face when i take his money il just keep on keeping on........G
  • #925
  • Sep 22, 2009 1:51am Sep 22, 2009 1:51am
all out now profit at fib.
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  • #926
  • Sep 22, 2009 2:49am Sep 22, 2009 2:49am
On the pip exactly at 14.60 ICCE fib.

To baba: Ok, I got you.
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  • #927
  • Sep 22, 2009 3:32am Sep 22, 2009 3:32am
Does anyone leverage there accounts off the capital there broker holds?

cheers G
  • #928
  • Sep 22, 2009 8:37am Sep 22, 2009 8:37am
Hey Cob,

How are Plotting the Daily Candle on the 15Min Chart?


Cool:
  • #929
  • Sep 22, 2009 10:11am Sep 22, 2009 10:11am
Have any of you noticed the slope change when changing a medium term H1 chart to a long term M15 chart? Congestion from first week in Sept and looks good on the H1 but goes south on a M15. This just my machine or have others experienced it as well.

First chart M15
Second chart H1
Congestion area was not changed...only time frame
Using ICCE v3 that was uploaded on June 22nd.

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.
Attached Image(s) (click to enlarge)
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Listen to the whispers.... You may learn something
  • #930
  • Sep 22, 2009 1:40pm Sep 22, 2009 1:40pm
Quoting Bemac
Hey Cob,

How are Plotting the Daily Candle on the 15Min Chart?


Cool:
Ditto. that is kind of nifty.
I'm pretty much done with all this ...
  • #931
  • Sep 22, 2009 1:43pm Sep 22, 2009 1:43pm
Liking the 11 to 1AM channel.

Makes me want to get up a few nights a week and trade the thing at the open...
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I'm pretty much done with all this ...
  • #932
  • Sep 22, 2009 2:12pm Sep 22, 2009 2:12pm
Ok - sometimes just having a free trade in place can yield really big rewards. It reminds me of the 'Sleep and Make Money' commercials...

times are in EST

17:00 bar was an Outside bar that launched me out of the channel. I turned on the speakers on the PC and set an alarm for when price broke 1.8770.

A few minutes later I had a nice OB, and an entry 3 pips past the low was set with a SL of 21 pips - because if this thing went back into the channel after that bar, I got faked out. Period.

Set another alarm for when price got to 1.8712 - the 21.8% fib - which went off just before nighty-night around 10PM. As you can plainly see that was a fairly large PB, and I thought it would soon reverse, so I set my SL just behind it... and turned off the PC and went to bed.

I was 2R + into the trade and had it locked in and a ultimate TP at the 0.00%. I sleep well when that happens.

I got the additional 3R while sleeping! That was very cool.

Getting into these free trades makes a world of difference. The key is to use the ICCE and S/R to define areas to hide a SL behind - to give it a chance to run - to keep yourself from a loser, and ultimately, make money while sleeping. Safe entries use PA to get you in. Blind entries are not recommended

I don't want to be greedy - but one of these a day would be nice...

..
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I'm pretty much done with all this ...
  • #933
  • Sep 23, 2009 12:05am Sep 23, 2009 12:05am
Quoting StoragePro
Ok - sometimes just having a free trade in place can yield really big rewards....
Awesome stuff storage

I am going to start experimenting with ICCE and try implement it in conjunction with Rac's method as well. But can you tell me that 11-1 channel, is that something that you guys consistently trade? Also, what timezone?

Cheers mate
  • #934
  • Sep 23, 2009 3:21am Sep 23, 2009 3:21am
Quoting Scrutch
Have any of you noticed the slope change when changing a medium term H1 chart to a long term M15 chart? Congestion from first week in Sept and looks good on the H1 but goes south on a M15. This just my machine or have others experienced it as well.

First chart M15
Second chart H1
Congestion area was not changed...only time frame
Using ICCE v3 that was uploaded on June 22nd.
Hi Scrutch,
Since I do not see anybody else answering this....
The slope of any line on your chart depends upon the vertical scale and the horizontal scale used. MT4 (by default) is set to auto scale. So when you changed from a 1hr to a 15min, not only did your horizontal scale change to be smaller (fewer hours displayed), but so did your vertical scale, but only to fit in the bars displayed.
If you had made the horizontal scale on your 15 min chart the same as on your 1hr then the slope of the lines would be the same.

Ian
  • #935
  • Sep 23, 2009 3:49am Sep 23, 2009 3:49am
Regarding the drawing of the boxes, is it preferable to have shorter boxes or just box the range that encapsulates the consolidation.

I would be most grateful on some feedback on the boxes I have draw.

Thanks to everyone for their time and energy on this thread
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  • #936
  • Sep 23, 2009 6:49am Sep 23, 2009 6:49am
Thanks Ian , the explaination makes sense to me...just never noticed it before. Using the M15 chart and dragging the vertical scale to compress it, I can actually make the diagonal lines cross each other. Guess I need to make separate charts that have ownership to their scales.

Quoting ianf0ster
Hi Scrutch,
Since I do not see anybody else answering this....
The slope of any line on your chart depends upon the vertical scale and the horizontal scale used. MT4 (by default) is set to auto scale. So when you changed from a 1hr to a 15min, not only did your horizontal scale change to be smaller (fewer hours displayed), but so did your vertical scale, but only to fit in the bars displayed.
If you had made the horizontal scale on your 15 min chart the same as on your 1hr then the slope of the lines would be the same.

Ian
Listen to the whispers.... You may learn something
  • #937
  • Sep 23, 2009 7:32am Sep 23, 2009 7:32am
Quoting Andrew N
Awesome stuff storage

I am going to start experimenting with ICCE and try implement it in conjunction with Rac's method as well. But can you tell me that 11-1 channel, is that something that you guys consistently trade? Also, what timezone?

Cheers mate
I've been 'playing' with the 11-1 EST channel - there are traders who play breakouts of this all the time. ICCE is nice because it provides more than a simple breakout of that channel.

Here is what I suggest:

Locate channels on higher time frames - daily, weekly. Mark them up and observe price action.

I would only suggest this - combining things can get you into trouble if they are not perfectly complementary. Stick with pure J16 price action for entries.
I'm pretty much done with all this ...
  • #938
  • Edited 7:53am Sep 23, 2009 7:39am | Edited 7:53am
Same pair last night yielded nothing that I could trade. However, as I slept, it did... And how!

They key is that you need to be available to take the trade. This does not mean you sacrifice health and family to trade, it means you only take what is presented when you are available to take it. So, for this fast tie frame, evenings work for me and the AUD, NZD and JPY pairs work best for the few hours I have for it.

Quoting StoragePro
Ok - sometimes just having a free trade in place can yield really big rewards. It reminds me of the 'Sleep and Make Money' commercials...
Attached Image (click to enlarge)
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I'm pretty much done with all this ...
  • #939
  • Edited 9:33pm Sep 23, 2009 8:00pm | Edited 9:33pm
Here's an update on this chart I posted before.

I had to adjust the box from the previous chart because price told me to.

Notice the test of the 50% line, then off to the races.

ADD: Peter, I'm working on getting you a cheaper Euro.
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  • #940
  • Sep 24, 2009 1:46am Sep 24, 2009 1:46am
Quoting StoragePro
I've been 'playing' with the 11-1 EST channel - there are traders who play breakouts of this all the time. ICCE is nice because it provides more than a simple breakout of that channel.

Here is what I suggest:

Locate channels on higher time frames - daily, weekly. Mark them up and observe price action.

I would only suggest this - combining things can get you into trouble if they are not perfectly complementary. Stick with pure J16 price action for entries.
This is by no means an easy thing to do,what you have just stated......but to my mind how right you are.

J16 price action is essential....really fundamental and may i add the J16 P.A at that wants to be a BID and ASK price bar.

The devil hides in the detail.

Dont forget to add the bar 1-1 area and its relation to sup/res or fib zone so you can clear your spread/comm.


And please if your new to this style a good demo time!

G
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