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  • #2,241
  • Mar 28, 2011 7:32am Mar 28, 2011 7:32am
Quoting Rcwso
Bottom line: with a 123 set-up the 2.4 pips comes into play with POINT #2. Not point #3. The set-up bar has to be within 2.4 pips of the #2 or take it out completely.

I have it written down twice the same from two different webinars and from this thread. If you have something different. Let me know. I am not an expert on the 123 set-ups. I am just going off of my notes. I don't trade those right now anyway.
I found the quote from Divergence's post #83

Quote
heres one of my favorite techniques at the end of a trend 123 except my trigger is a candle that closes below sma and cci closes below -50 and trigger candle is within 2 pips of point 2 heres chart
  • #2,242
  • Mar 28, 2011 7:44am Mar 28, 2011 7:44am
Quoting ataviano
By the way, you guys should check out emini-watch.com. The guy of the website trades with this indicator called trin, trading index indicator he has programed and is currently managing to bring in some heavy money.

thanks for the info. if the TRIN indic is free just post it here. We'll all appreciate.
Thanks again

got to watch 3/4 of the vid...when i realized i hear nothing,then realized i almost cant c bars from the rainbow indies and i got a good laughter at '' professional bars vs amateur bars'' he must've hacked institutions and all the houses to know who forms which bars lolol
i d look at COT to know about the ''directional bias'' only
cot includes positions - commercial
- speculators
- small specs like us

but it aint necessary in here anyway
cheers
making money in JimB2468 trading room
  • #2,243
  • Mar 28, 2011 8:10am Mar 28, 2011 8:10am
Cheers Rcwso

thanks for clearing that up, I knew i had read somewhere about 2.4 with 123 - was just confused with which numbered point the 2.4 referred.

Regards
John

Quoting Rcwso
Bottom line: with a 123 set-up the 2.4 pips comes into play with POINT #2. Not point #3. The set-up bar has to be within 2.4 pips of the #2 or take it out completely.

I have it written down twice the same from two different webinars and from this thread. If you have something different. Let me know. I am not an expert on the 123 set-ups. I am just going off of my notes. I don't trade those right now anyway.
  • #2,244
  • Mar 28, 2011 8:16am Mar 28, 2011 8:16am
Quoting jmw1970
Hi All

as I am lazy and dont like to check the values of the retracement finder provided earlier, i have coded a new one

this one you can set the level, then if the value is above the level then it will be one color, below the level(multiplied by -1) another color, and between another color.

Defaults are Blue, Red and LightGray for in between the levels

Pic below

Regards

John
Hi John... great work on the indi and thanks for sharing.

In the interest of laziness do you think you could incorporate the sma into it as well?
So that the +50 bars only paint green if the low of the price bar is less than 2.4 pips above the sma and vice versa for the red bars?

Thanks.
  • #2,245
  • Mar 28, 2011 8:24am Mar 28, 2011 8:24am
Hi d4n

wouldnt the rule be

shorts:-
CCI less than -50
High of Candle within 2.4 pips of SMA or Candle straddling the SMA

longs
CCI greater than 50
Low of Candle within 2.4 pips of SMA or Candle straddling the SMA

Certain things might be best left to the human eye


Quoting d4n
Hi John... great work on the indi and thanks for sharing.

In the interest of laziness do you think you could incorporate the sma into it as well?
So that the +50 bars only paint green if the open of the price bar is less than 2.4 pips above the sma and vice versa for the red bars?

Thanks.
  • #2,246
  • Mar 28, 2011 8:41am Mar 28, 2011 8:41am
Quoting jmw1970
Hi d4n

wouldnt the rule be

shorts:-
CCI less than -50
High of Candle within 2.4 pips of SMA or Candle straddling the SMA

longs
CCI greater than 50
Low of Candle within 2.4 pips of SMA or Candle straddling the SMA

Certain things might be best left to the human eye
Hi John
To keep it as simple as possible i think the rule just needs to be for shorts

Paint bar red if CCI is less than -50 and high of candle is greater than sma minus 2.4.... that way you get a red bar if it straddles or not

and for longs
Paint bar green if CCI is greater than +50 and low of candle is less than sma plus 2.4.

I know what you mean about some things best left to the eye but trying to guage 2.4 pips i think is the hardest bit and i always find myself getting the cursor out to measure so it would definitely be easier for me to have it automated.

Cheers.
  • #2,247
  • Mar 28, 2011 8:41am Mar 28, 2011 8:41am
Quoting Rcwso
I found the quote from Divergence's post #83
++++++++++++++++++++++++++++++++

Thanks for setting the record straight. 2.4 pips from #2.

Guys RC does his homework. Please check out his documentation for details. It's currently the best condensed source of thread info.

Thanks RC
  • #2,248
  • Mar 28, 2011 8:56am Mar 28, 2011 8:56am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Thanks for setting the record straight. 2.4 pips from #2.

Guys RC does his homework. Please check out his documentation for details. It's currently the best condensed source of thread info.

Thanks RC
Thanks Diamond.

I am a rules kind of guy and try to learn as much as I can about the rules. I just need to be able to apply them in a better fashion to be able to complete the last step in Divergence's plan, "Make Money." Knowing the rules certainly helps to understand when I have done something incorrectly and LOST money. When you follow the rules, it works. When you don't it doesn't. Simple.
I am on the left trying to get the rules beat into my head. Fun times.
  • #2,249
  • Mar 28, 2011 9:03am Mar 28, 2011 9:03am
Thoughts on the EU right now?

Uptrend/Downtrend?

I show resistance was at 1.4080 and new resistance could be at 1.4110. So long until then or what?

Thoughts?
  • #2,250
  • Mar 28, 2011 9:06am Mar 28, 2011 9:06am
true, i see a definite uptrend now
  • #2,251
  • Mar 28, 2011 9:13am Mar 28, 2011 9:13am
Quoting Rcwso
Thoughts on the EU right now?

Uptrend/Downtrend?

I show resistance was at 1.4080 and new resistance could be at 1.4110. So long until then or what?

Thoughts?
++++++++++++++++++++++++++++++++

If you want to consider what e/u chart looks like in Zoom Way Out (zwo) mode, some elliott wavers could make a case for the current long e/u move, being wave 4 of 5, with the next resistance being around 1.4110ish. But that's a totally subjective opinion man.

I blather on.
  • #2,252
  • Mar 28, 2011 9:20am Mar 28, 2011 9:20am
Quoting Rcwso
Thoughts on the EU right now?

Uptrend/Downtrend?

I show resistance was at 1.4080 and new resistance could be at 1.4110. So long until then or what?

Thoughts?
here's how my chart look
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 18 KB
  • #2,253
  • Mar 28, 2011 9:24am Mar 28, 2011 9:24am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

If you want to consider what e/u chart looks like in Zoom Way Out (zwo) mode, some elliott wavers could make a case for the current long e/u move, being wave 4 of 5, with the next resistance being around 1.4110ish. But that's a totally subjective opinion man.

I blather on.
I do agree. I think I am looking for a pullback prior to the 1.4110 area to go long and then test the 1.4110. Then have to wait and see what it does at that spot. Maybe a divergence/123 to back down. Maybe it breaks through then gives a pullback on the top. Maybe it does all kinds of things and then finally looks like the elephant that I want the chart to look like. Come on elephant. Then I will make money.
  • #2,254
  • Mar 28, 2011 9:34am Mar 28, 2011 9:34am
Trichet is speaking in about 30 minutes. So be careful of entries or positions around that time.

An interesting tid bit I heard on NPR regarding economic news releases:

• Economic news is based on sketchy information that is a "Loose" approximation of "Select" numbers.

• These numbers take from 6-9 months, from the date of their release, to be verified. Which means the Core PCE Price Index m/m numbers released today will not be verified until September or later.

• And when the numbers are verified, there is a plus or minus 1% margin of error.

So, then this news which sends the market into these wild gyrations is based on Rumors? Gosh, I thought we all gave that up in High School!
  • #2,255
  • Mar 28, 2011 9:39am Mar 28, 2011 9:39am
Quoting vince
here's how my chart look
++++++++++++++++++++++++++++++++

My levels are slightly different but the key thing is eyeball training which we are all doing.
Attached Image
  • #2,256
  • Mar 28, 2011 9:42am Mar 28, 2011 9:42am
My first post on this thread!

Just wondering if I am correct in both of these instances.

And also a big THANKS to Divergence for a simple, straightforward method. Been following for a few weeks now.

Attached Image (click to enlarge)
Click to Enlarge Name: chart-1.jpg Size: 107 KB
"Be the change that you wish to see in the world." --Gandhi
  • #2,257
  • Mar 28, 2011 9:48am Mar 28, 2011 9:48am
Quoting Wally1953
My first post on this thread!

Just wondering if I am correct in both of these instances.

And also a big THANKS to Divergence for a simple, straightforward method. Been following for a few weeks now.

Attachment
We do not use the CCI as the indicator for divergence. We use the RSI. Divergence may be forming on the RSI. Verdict is out on that one for me right now.

Again, CCI is not the indicator to use for divergence recognition in this method.
  • #2,258
  • Mar 28, 2011 9:49am Mar 28, 2011 9:49am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

My levels are slightly different but the key thing is eyeball training which we are all doing.
as mr. Div said s/r are not exact numbers but an area, and as i can see we're pretty close
  • #2,259
  • Edited 9:52am Mar 28, 2011 9:50am | Edited 9:52am
Hi Wally1953

i am no expert on this but the second line where you indicate the divergence, we are usually measuring divergence on the RSI not the CCI

also, not sure if it's just because you manually drew the divergence lines, but the candles dont match up between your divergence line on the price chart and your divergence line on the indicator

Regards
John

edit : seems like everyone was answering the same question at the same time
Quoting Wally1953
My first post on this thread!

Just wondering if I am correct in both of these instances.

And also a big THANKS to Divergence for a simple, straightforward method. Been following for a few weeks now.

Attachment
  • #2,260
  • Mar 28, 2011 9:56am Mar 28, 2011 9:56am
Hi Diamond,

on your Charts here (also on your webinar) you have painted the Asian/London/US-Session in a colored rectangles. Are you doing this manually or is it something like an indicator ?

I'm currently drawing a horizontal line for beginning of the sessions, but this is not very practical
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