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ICCE. Bemac's Fib. Reverse Engineered

  • #1,281
  • Jan 4, 2011 12:28pm Jan 4, 2011 12:28pm
Quoting LasVahGoose
Silver Weekly.

1) No idea if I drew it correctly
2) If I drew it corrrectly, I have no idea what it is telling me.

Silver has gone parabolic without correction, so my gut tells me one is due. There is divergence on the daily...

So what is ICCE saying?
Just like everything else with trading, it depends on your perspective. To me, that confluence of the diagonal and the horizontal (price 23.08) would be a place to watch.

But, ICCE isn't necessarily the tool to tell you "what to do".
  • #1,282
  • Jan 4, 2011 2:42pm Jan 4, 2011 2:42pm
one more box forming on a/n.
(check where the chart had its high previously )
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #1,283
  • Jan 4, 2011 11:52pm Jan 4, 2011 11:52pm
The box found yesterday on EURUSD does not satisfy me 100%.
Better with 1.3346 and 1.3363.
But still, even if PA bounced perfectly on ICCE levels, I don't keep this box as reliable as usual, because the range was too fussy.
I'm waiting for better...
  • #1,284
  • Jan 5, 2011 12:59am Jan 5, 2011 12:59am
Quoting aserbfx
one more box forming on a/n.
(check where the chart had its high previously )
Yep, that one is a good one!

Maybe I'll trade this pair, although I neved did!
Thanks for the tip!
  • #1,285
  • Jan 5, 2011 2:18pm Jan 5, 2011 2:18pm
this is a box i draw in the past. look where the high and 61.80% formed...


now, you see for what icce is good.
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meine augen sind die sterne
  • #1,286
  • Jan 10, 2011 3:03am Jan 10, 2011 3:03am
A nice one on EURUSD.
box levels on
1.2920 and 1.2893
TP for the next 2 days: 1.3122-2=1.3120 OR 1.2691+2=1.2693
I trade this one short 1.2920 on the downtrend with a SL at 1.2951 , as it looks quite reliable (TP=1.2693)
Attached Image (click to enlarge)
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  • #1,287
  • Jan 10, 2011 8:34am Jan 10, 2011 8:34am
Quoting namasteparis
A nice one on EURUSD.
box levels on
1.2920 and 1.2893
TP for the next 2 days: 1.3122-2=1.3120 OR 1.2691+2=1.2693
Yep! I confirm this is a very reliable box. PA keeps on bouncing all day long on the levels +/- 3 pips...
Attached Image (click to enlarge)
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  • #1,288
  • Edited 6:55pm Jan 11, 2011 6:55pm | Edited 6:55pm
Hello aserbfx & namaste,

thank you for the examples again. I am really struggling with drawing the box, but I now see how important it is to adjust to the levels and diagonals on the left side ( historical ).....

here cadchf 30 min

More to come....





_____________
michael
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-01-12_0146_cadchf30min.jpg Size: 157 KB
Be like water.
  • #1,289
  • Jan 12, 2011 12:25am Jan 12, 2011 12:25am
Quoting aserbfx
one more box forming on a/n.
(check where the chart had its high previously )
just arrived...
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #1,290
  • Jan 12, 2011 12:54am Jan 12, 2011 12:54am
Impressive.....very precise. I still have to get a feel for this and a good recommendation might be Bemacīs way of setting up several charts for 1 pair, all of them on their own timeframe and with ICCE....and see how they interact.

More to come, very grateful for any further examples.

Good trading to all.





____________
michael
Be like water.
  • #1,291
  • Edited 7:27am Jan 12, 2011 7:27am | Edited 7:27am
cadchf retraced to the pip, very encouraging to practise more....I see that getting the box right is critical.

I will have a look at chfjpy hourly, looks like potential room for up, and a shift in Cad pairs once the drop in usdcad is halted.

More to come, thank you Bemac and all in this thread.

( namaste, I will also have a look at your manually adjusted fib levels, I see now how you adjust the box/channel according to past levels....very good. )




______________
michael
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-01-12_1420_cadchf30min.jpg Size: 164 KB
Be like water.
  • #1,292
  • Jan 12, 2011 8:03am Jan 12, 2011 8:03am
Dear Bemac,

thank you for the response. My Nickname came from an old ( and frequently repeated ) joke of my friends. My wife and I live mainly in Spain and we are both trading together. Friends found it funny to call us MsMarple and Mr Skinner, as we both constantly mumble about trading and the markets, which is a mystery to most of our friends.

Quote :

What is Your Priority here? Not to bother me OR get the Most you can out of this.

==========

I was reading the J16 thread for a very long time, and I noticed that some members like SeekingLight, or Ghous, Lovejoy et. al. advanced in their understanding of the long term market structure, and they focused less on single bar formations. This encouraged me to learn more about what constitutes a swing & the basic wave/fractal nature of markets. After reading all about Pitchforks and various Fibonacci applications ( all the books by Boroden, R. Miner, Robert Fischer et.al. ) I was naturally drawn to your way of drawing fibs.

Especially your 50% of the move idea inspired me. One of my biggest surprises came after watching/reading the courses from Michael J. Parsons. In his Balance Magic tutorial/webinar series, he shows how to find a balance point ( often a zigzag, a gap, overlapping long bars) and then measure from there the second half of the complete swing. This balance point often coincides roughly with 50%.

And Robert Fischers use of WinPhi Ellipses, if you draw a line through them, often shows that crossover points occur often at roughly 50% of the swing ( then ending at the other end of the ellipse ).

All of this surprised me very much, a bit like J16 formations way back in the beginning. Because it was all there to see on the chart, but I was just not aware of it.

I hope this is not too off topic and I suspect you hate verbage posts, but I wanted to say thank you, and additionally explain what motivation led me to this thread.

I hope to be able to contribute with chart examples.



______________
michael



Quoting Bemac
MissMarple & MasterPieceTheatre: Seems like a Natural to me. {sorry for the writers liberty folks; Couldn't resist. } Gotta admit though that Geraldine McEwan is probably my favourite Actress for the part. So slight and unintimidating of stature that her foes were left with no choice but to underestimate her. Margaret Rutherford reminds of the, very competent but remorseless, Matron of the Hospital ward I was confined to 50 years ago with scarlet fever.

As far as asking me questions, I think along these lines...
What is Your Priority here?...
Be like water.
  • #1,293
  • Jan 12, 2011 7:07pm Jan 12, 2011 7:07pm
Quoting msmarple
cadchf retraced to the pip, very encouraging to practise more....I see that getting the box right is critical.

I will have a look at chfjpy hourly, looks like potential room for up, and a shift in Cad pairs once the drop in usdcad is halted.

More to come, thank you Bemac and all in this thread.

( namaste, I will also have a look at your manually adjusted fib levels, I see now how you adjust the box/channel according to past levels....very good. )




______________
michael
Would love to see more of your charts MsM but I think your last one broke my video card. just joking...

Don't have 30Min ICCE on CADCHF but here is how I see the 1Hr.
Attached Image (click to enlarge)
Click to Enlarge Name: msm 1hr jan 12 11.gif Size: 48 KB

I use the Close of the Bar & incorporate All Closes into the Box. Just my preference
Attached Image (click to enlarge)
Click to Enlarge Name: msm 1hr jan 12 11 2.gif Size: 29 KB

Glad you like it.

Bemac
  • #1,294
  • Edited 12:45pm Jan 14, 2011 12:41pm | Edited 12:45pm
Bemac, thank you for the 1h cadchf chart. It makes so much more sense to watch major moves on 1h and higher.

I was practising all week applying the ICCE grid version - it is really amazing.

Here is a AUDCAD 4h chart. Yes, I am always making everything too complicated, I will drop a lot of unnecessary stuff soon.....

Would you ( or aserbfx ? ) approve of this box ? It seems to reflect market structure quite well.

In fact I have been a little bit obsessed with audcad since watching this on the Daily. But I donīt want to jump in too early. I could have taken the BEOB as a most basic J16 trade, but I see the potential for several hundred pips at least. Or am I wrong ? Any criticism welcome, including from The Master himself....


Best regards,


______________
michael
Attached Image (click to enlarge)
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Be like water.
  • #1,295
  • Jan 14, 2011 6:00pm Jan 14, 2011 6:00pm
This S&P chart has been working really well for me.
Attached Image (click to enlarge)
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  • #1,296
  • Jan 14, 2011 9:02pm Jan 14, 2011 9:02pm
Quoting TradeWell
This S&P chart has been working really well for me.
Hey T Well. I have to chuckle when I see that 50/50 dashed red line because I know where you got it from & that you know what you are doing with this ICCE stuff.
Goodonya bud.

B
  • #1,297
  • Jan 15, 2011 1:25am Jan 15, 2011 1:25am
Quoting msmarple
Bemac, thank you for the 1h cadchf chart. It makes so much more sense to watch major moves on 1h and higher.

I was practising all week applying the ICCE grid version - it is really amazing.
....
this is how i see it. i consider the whole area as the box.
maybe bemac can check this, too.
p.s. is this a labrador in your pic? looks cute. i love them...
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #1,298
  • Jan 16, 2011 3:28am Jan 16, 2011 3:28am
Quoting TradeWell
This S&P chart has been working really well for me.
looks good to the eye , do you mind state what version of icce you used and whatbroker feed is that ? Mine is fxcm and no where near what your feed is .

Thanks in advance !

cheers vito
  • #1,299
  • Jan 16, 2011 7:43am Jan 16, 2011 7:43am
Quoting aserbfx
just arrived...
Hi,
This is the first time I check this thread. Where did you enter here? There was a false breakout to go long.
Can somebody recommend a post # where the most recent way of trading these boxes are written down. I have problem with accurate describing of a box (I understand that price is compressed between a support and a resistant line for a relatively "long" period and when it breaks out it is nearly sure that it will move at least the height of the box.
How do you enter exactly, do you simply take the breakout or also wait for a retest of the box top or bottom or like in the above example the breakout happened in the late NY session so probably a false brakeout or you exited early as the 1H TF is forming a PB 2-3 hours after the breakout.
Where do you put SL? On the other side of the box?
Thanks for any help!

kopaszn
  • #1,300
  • Jan 16, 2011 12:50pm Jan 16, 2011 12:50pm
Quoting menomoo
looks good to the eye , do you mind state what version of icce you used and whatbroker feed is that ? Mine is fxcm and no where near what your feed is .

Thanks in advance !

cheers vito
ICCE v3

Broker: GCI - They use after market hours prices also so normal market hour gaps are not shown. This chart also has a Sunday candle. I am wondering, just how different is your feed? (hint: post a chart)
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