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ICCE. Bemac's Fib. Reverse Engineered

  • #1,741
  • Nov 21, 2011 1:32am Nov 21, 2011 1:32am
Based purely on ICCE, these areas seem to be relevant to current PA. Very close to the bottom of my box location at the moment....

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  • #1,742
  • Nov 21, 2011 9:27pm Nov 21, 2011 9:27pm
Quoting Pinbar
I am liking the look of this, a lot, without falling in love without it.
Never marry anything you are not willing to commit your life to.

Looking forward to celebrating 30+ years in 2012.

Love Helps.

B
  • #1,743
  • Nov 21, 2011 10:46pm Nov 21, 2011 10:46pm
Possibly some important info for those that are just joining us.
In the XAU (XTTrade Trhead.)
I posted a bunch between 13566 & 13577.
Nugeets but most will probably fall by the wayside.

Grab Em.

B
  • #1,744
  • Edited Nov 22, 2011 1:36am Nov 21, 2011 11:29pm | Edited Nov 22, 2011 1:36am
Quoting Bemac
Never marry anything you are not willing to commit your life to.

Looking forward to celebrating 30+ years in 2012.

Love Helps.

B

You caught that one eh. LoL
I assumed you were the Invisible 10+.

I posted it in the wrong thread.



I shall amend my ways.

Looks like ICCE may be further confirmation of this area on the daily.

I think price is going to find a foothold, right where it currently is, for a push up.
The upper diagonal and confluence with the 365 looks awesome.
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  • #1,745
  • Edited 3:43am Nov 22, 2011 3:22am | Edited 3:43am
I think we are on our way to the 365
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  • #1,746
  • Nov 22, 2011 4:27am Nov 22, 2011 4:27am
Quoting Pinbar
I think we are on our way to the 365
I know I am going to feel stupid when you tell me what you mean by the 365, but I am going to ask anyway.........?
  • #1,747
  • Nov 22, 2011 4:36am Nov 22, 2011 4:36am
Quoting CathS
I know I am going to feel stupid when you tell me what you mean by the 365, but I am going to ask anyway.........?
No need to feel stupid at all, at one time or another none of us knew what it was. It is just the 365 Exponential Moving Average, usually referred to as just the 365 EMA. The red line.
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  • #1,748
  • Nov 22, 2011 4:48am Nov 22, 2011 4:48am
Think of it as a large moving pivot level.

Once price violates it, some time later, price will return to it to retest it.
At this time price can do one of two things, break right through it and pull back to it then take of North, get rejected by price and show us a Price Action setup, hinting at which way price wants to go.


Here is what I mean.

Not how price either break through it then comes back then takes off or , just gets rejected by it.

Very powerful tool

I marked a few of them on the chart so you can see how it works.
The green line is the 150 EMA the red one the 365, both are powerful
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  • #1,749
  • Nov 22, 2011 4:59am Nov 22, 2011 4:59am
Quoting Pinbar
No need to feel stupid at all, at one time or another none of us knew what it was. It is just the 365 Exponential Moving Average, usually referred to as just the 365 EMA. The red line.
Well duh!! Thankyou for your fast and kind response - I think my brain is fried! I have been using lower timeframe MAs, obviously the 365 would be a MAJOR support/resistance/pivot point, a good one to watch. Everytime I think I am getting a handle on things, a new, basic thing like this jumps out to remind me that in fact I know very little. Oh well, back to the books.....
  • #1,750
  • Edited 5:40am Nov 22, 2011 5:30am | Edited 5:40am
Quoting CathS
Well duh!! Thankyou for your fast and kind response - I think my brain is fried! I have been using lower timeframe MAs, obviously the 365 would be a MAJOR support/resistance/pivot point, a good one to watch. Everytime I think I am getting a handle on things, a new, basic thing like this jumps out to remind me that in fact I know very little. Oh well, back to the books.....
Books, what do you need those for?

Practice support flipping to resistance and burn them books. LOL
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  • #1,751
  • Nov 22, 2011 6:08am Nov 22, 2011 6:08am
Quoting Pinbar
Books, what do you need those for?

Practice support flipping to resistance and burn them books. LOL
you're on!

re this chart, are there anyspecific trades that you would have entered?

I can see the areas where support has become resistance and vice versa, but am struggling with when you would be able to predict with high probability what the pa will do next. I get the significance of lining up with MA and ICCE lines, but they don't always pivot on any of these lines, sometimes it just barges right through - is this where you assume probabilities and use the stop loss in case it doesn't work for that trade?

For this chart specifically, I would say that the 1st arrow pointed to a bullish PB, arrows 2, 3 & 5 point to BEOBs, I don't recognise arrow 4, arrow 6 to a bullish EOB, is 7 a bearish PB even though it's green?, is 8 a bearish PB (I think the open & close are too far apart), 9 is a bullish EOB, 10 BEOB, 11 DHBLC, 12 & 13 I couldn't work out. Or maybe I am overanalysing your arrows altogether!

I guess that where you see definite signals eg a clear PB or BEOB, and it corresponds with a major MA or ICCE line, the reliability of being able to pick the immediate future PA is higher, and these are the sorts of "once a month" trades to focus on.

Sorry for the ramble, it was too jumbled in my head, I just had to get it out!! I hope you can understand it, I do really appreciate your help
  • #1,752
  • Edited 6:49am Nov 22, 2011 6:24am | Edited 6:49am
Quoting enigma4x
@ A.

... thank u for ya reply and I will add it in my skype ....

I remember I was playing with swissy some times ago ...
http://www.forexfactory.com/showthre...56#post4764956

The whole world was against me ...

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That is a good time to look for trades in swissy ...

my current H1 observation ...

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here are some pics from an othe method ...

shure u know that, but maybe I can inspirate ya whith this pic ...

Attachment

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@ b shure - so...
Hi folks,

may someone was taken some gains from my live USDCHF forecast. I took these trades live for my clients and me, offcourse ...

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my eu play - very shortterm ...

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eric

p.s. @ oneday -u was inspirate me - keep up - kudos
enjoy my life ... and ride the waves - all what I do
  • #1,753
  • Edited 6:50am Nov 22, 2011 6:37am | Edited 6:50am
Quoting CathS
you're on!

re this chart, are there anyspecific trades that you would have entered?

I can see the areas where support has become resistance and vice versa, but am struggling with when you would be able to predict with high probability what the pa will do next. I get the significance of lining up with MA and ICCE lines, but they don't always pivot on any of these lines, sometimes it just barges right through - is this where you assume probabilities and use the stop loss in case it doesn't work for that trade?

For this chart specifically, I...

Some of those bars would need discretion as the FTA is close, possibly I would have taken the ones where the FTA was further away or, taken them after the support area broke.

The main point I was trying to get over was not the PA but where we can see support flipping to resistance a visa vie.
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  • #1,754
  • Nov 22, 2011 6:39am Nov 22, 2011 6:39am
Quoting enigma4x
....may someone was taken some gains from my live USDCHF forecast.....
Gains in understanding, yes, thankyou
  • #1,755
  • Nov 22, 2011 6:41am Nov 22, 2011 6:41am
Caths, believe me, I understand how hard this is & also how much harder we always make it then it has to be.

I used to go nuts, thinking I found something only to discard it later, but recently S&R is hitting me hard that, this is the only real deal out there.

I think it is human nature to over complicate things.

Stick with finding good S&R levels, put them on your chart and watch price till you go blind, then watch it some more.
Basically, I think Bill is finding good consolidation areas where price reacted at after it broke out, then extending these areas with his amazing fibo extensions. Fibo extensions are also S&R.

The only problem, I have with ICCE is the subjectivity of finding the right consolidation areas.

I mean price consolidates 80% or more of the time so there are many of these areas.
  • #1,756
  • Nov 22, 2011 6:48am Nov 22, 2011 6:48am
Quoting Pinbar
..The main point I was trying to get over was not the PA but where we can see support flipping to resistance a visa vie...
I was making too much of it, I guess I was jumping ahead and trying to tie everything in - I need to try to K.I.S.S.!! Thanks again!
  • #1,757
  • Nov 22, 2011 6:54am Nov 22, 2011 6:54am
Quoting CathS
you're on!


I get the significance of lining up with MA and ICCE lines, but they don't always pivot on any of these lines, sometimes it just barges right through -
Hey, No problem.
I know how confusing it can be.


Yes, sometimes price does barge right through without pulling back, but it probably then pulls back above the former resistance area and shows us bullish PA. The Pa at these areas is what tells us which way price wants to go. We don't just guess.
  • #1,758
  • Nov 22, 2011 7:00am Nov 22, 2011 7:00am
Quoting Pinbar
..The only problem, I have with ICCE is the subjectivity of finding the right consolidation areas.

I mean price consolidates 80% or more of the time so there are many of these areas....
I agree - I partly struggle with it because I am an accountant by trade, and we like things to balance perfectly. Subjectivity it not allowed!! This is a reason I preferred the ICCE consolidation area to be further in the past, as Bill's gold one is, so that it can be tested and proven over and over before being relied on for future pa. The way you entered one a while ago and we saw it line up with previous pa was an "ah ha" moment for me, enabling me to use recent consolidations that I previously wouldn't have been able to consider!
  • #1,759
  • Nov 22, 2011 7:15am Nov 22, 2011 7:15am
Quoting CathS
I agree - I partly struggle with it because I am an accountant by trade, and we like things to balance perfectly. Subjectivity it not allowed!! This is a reason I preferred the ICCE consolidation area to be further in the past, as Bill's gold one is, so that it can be tested and proven over and over before being relied on for future pa. The way you entered one a while ago and we saw it line up with previous pa was an "ah ha" moment for me, enabling me to use recent consolidations that I previously wouldn't have been able to consider!

Well, you can also back test PPZ levels the same way.
In fact I think Bill will be the first to agree that these levels are PPZ.

If you struggle, just go back to a plain chart and a single line or band like this. I used to do this to ground me when my head was about to explode, while I was on the PF doing 15 or more hours per day 7 days a week.

An accountant eh, yeah, I can get where you want to see a balance.
What trading is about is imbalance.
We want to use the imbalance between buyers and sellers at a given area to ride with the triumphant side.

Hope this chart helps, I just put it together quickly.
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  • #1,760
  • Nov 22, 2011 7:27am Nov 22, 2011 7:27am
Quoting Pinbar
Hope this chart helps, I just put it together quickly.
The chart is great, and the effort you put in to helping me is also blowing my mind, and you describe my about-to-explode head perfectly, this is great advice; I have added KISS to my rules. You are beginning to get through my thick skull that maybe it's not as complicated as I have been trying to make it, wow if that is correct the possibilities are amazing!!!
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