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  • #201
  • Nov 30, 2012 3:22pm Nov 30, 2012 3:22pm
Very interesting thread. I subscribe.

Thank you and a greeting.
  • #202
  • Nov 30, 2012 3:28pm Nov 30, 2012 3:28pm
Quoting jmcl
Helpful indeed but I suggest to use Silver as a background which is easy on the eyes.

This is the type of information we need to take inn together with 9ER's explanations.

Gosh - thank you for a long and learning day

John from Durban
I will try the silve and see how it works out thanks for the comment.
If you fail to plan, you plan to fail.
  • #203
  • Nov 30, 2012 3:49pm Nov 30, 2012 3:49pm
This is the chart I posted earlier today of the current EURUSD 5M there were two price reversal zones identified by the pattern’s rule set. These zones provide us with a very precise area where we know traders will be making decisions on order flow. These are the areas we want to target and exploit. The first one was at the completion of BC which per my rules and this scenario was only 6 pips. The second price reversal zone had a 9 pip range at the CD completion. The chart below gives a visual of these zones. My next post will show us from a harmonic and ratios point of view how we can refine the zones even further for a laser sharp entry. As traders it's important not to follow price around, we want price to come into our zones. This is our confirmation that we are in tune with price action and our analysis is correct. These zones once mastered are money in the bank. 9er's style and his chosen indicators is a step in helping you see these zones. The content here is pricless which has inspired me to contribute where I can.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 11_30_2012 1.jpg Size: 78 KB
If you fail to plan, you plan to fail.
  • #204
  • Nov 30, 2012 4:16pm Nov 30, 2012 4:16pm
Okay now that we have identified our zones is there room for improvement? There is always room for improvement LOL. We now must zoom out and get a bird’s eye view. We must refer to structure. Market structure tells us where price has been and leaves clues as to where it is like to find support/resistance in the future. In short it provides us with a visual blueprint as to where traders have made order flow decisions and where they are likely to be made again. The chart below is a bird’s eye view with two areas identified that line up with our price reversal zones. In the next post we will refine our zones.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 11_30_2012 2.jpg Size: 82 KB
If you fail to plan, you plan to fail.
  • #205
  • Nov 30, 2012 4:37pm Nov 30, 2012 4:37pm
Quoting Mr. Pip
[font=Calibri][size=3]Okay now that we have identified our zones is there room for improvement? There is always room for improvement LOL. We now must zoom out and get a bird’s eye view. We must refer to structure. Market structure tells us where price has been and leaves clues as to where it is like to find support/resistance in the future. In short it provides us with a visual blueprint as to where traders have made order flow decisions and where they are likely to be made again. The chart below is a bird’s eye view with two areas identified that...

Mr. Pip Thanks for your great contributions to this thread. I just have a quick question, if you dont mindme asking of course, whats the indicator you are using, the one identifying the zones?!
Thanks in advance.
  • #206
  • Edited 5:39pm Nov 30, 2012 5:23pm | Edited 5:39pm
Quoting jor1234
Mr. Pip Thanks for your great contributions to this thread. I just have a quick question, if you dont mindme asking of course, whats the indicator you are using, the one identifying the zones?!
Thanks in advance.
Of course I don't mind questions are great they lead to progress. I don't use indicators and the zones you see have been made by me with my rectangle tool. I did however see in another thread one but again I do not use MT4 and also do not use indicators so I do not know how well it works. I'm trying to remember where I saw it. It's in the trade journal section. I'll find it and let you know where. I'm not at my computer right now but will get to it and post the refining of the zones later on tonight or tomorrow.

It's in the trade journal forum one minute wonder.
Cheers


Mr. Pip
If you fail to plan, you plan to fail.
  • #207
  • Nov 30, 2012 5:42pm Nov 30, 2012 5:42pm
Dear 9er Nice thread subscribed expecting the indi displaying the numerical values of DAILY PIVOTS. GOODWISHES GOD BLESS
  • #208
  • Nov 30, 2012 5:53pm Nov 30, 2012 5:53pm
Quoting 9er
You will notice from the attached screenshots that I trade at a very efficient level. My style is not easy, but it gets easier once you’ve learned to see what has been right in front of you since the very first day you ever opened a trade station.
...


Who’s up for it? Any takers?
Hi 9er,
Was drawn to your thread while browsing around.
If I may, just want to get your response on a few points.
1.sessions
I was introduced to FX, with the claim that it can be traded 24hour a day.
However, have realised that for us retail punters it is quite misleading.
In practice, the wisdom seems to be to generally restrict trading to Uk/US sessions and also to avoid MOn and Fri.
2.Volume
Following on from the above is the issue of Volume, which you have alluded to a few times. Do sessions and volume have any influence in your trading decisions?
3.Arrows
I notice on some of your charts a small green arrow and wonder if it has any significance.
Thanks,
EP
  • #209
  • Nov 30, 2012 6:00pm Nov 30, 2012 6:00pm
Quoting Mr. Pip
Of course I don't mind questions are great they lead to progress. I don't use indicators and the zones you see have been made by me with my rectangle tool. I did however see in another thread one but again I do not use MT4 and also do not use indicators so I do not know how well it works. I'm trying to remember where I saw it. It's in the trade journal section. I'll find it and let you know where. I'm not at my computer right now but will get to it and post the refining of the zones later on tonight or tomorrow.

It's in the trade journal forum...

Excellent Mr. Pip as I said before I greatly appreciate it and what I love about this thread is the willingness. So kudos to you, and all the others but most importantly to 9er for starting such a good conversation.
  • #210
  • Nov 30, 2012 7:20pm Nov 30, 2012 7:20pm
Quoting jor1234
Excellent Mr. Pip as I said before I greatly appreciate it and what I love about this thread is the willingness. So kudos to you, and all the others but most importantly to 9er for starting such a good conversation.
You are very welcome. I'm grateful to 9er for allowing me to contribute. As I said before I have read a lot and visit many forums but seldom contribute due to the lack of positive contributions. It's funny how the first to criticize and bash are the ones who struggle. Neither 9er or I need to do this but I have been inspired and will continue to contribute as long as this thread stays like this and 9er supports my efforts. I will also say that we can all learn from each other. I have learned from newbies and veterans. That is the beauty of these forums it's just sad that somewhere along the way some have lost site of this and use it as a medium to blame others for their own inadequacies. I hope I didn't offend anyone.

Cheers
Mr. Pip
If you fail to plan, you plan to fail.
  • #211
  • Nov 30, 2012 8:47pm Nov 30, 2012 8:47pm
Quoting Mr. Pip
You are very welcome. I'm grateful to 9er for allowing me to contribute. As I said before I have read a lot and visit many forums but seldom contribute due to the lack of positive contributions. It's funny how the first to criticize and bash are the ones who struggle. Neither 9er or I need to do this but I have been inspired and will continue to contribute as long as this thread stays like this and 9er supports my efforts. I will also say that we can all learn from each other. I have learned from newbies and veterans. That is the beauty of these...

Here Here! That's the point of having this community, to help and contribute when we can.
  • #212
  • Nov 30, 2012 8:59pm Nov 30, 2012 8:59pm
Let’s continue, a closer look at the BC leg offers other harmonic consideration which allows us to refine our PRZ further. There was a perfect ABCD pattern in the BC leg. It is not uncommon to see patterns within patterns and often help us reinforce our premise. Just keep in mind that the higher time frame trumps the smaller as the big boys (real money) mainly trade off of higher time frames. The chart below is a closer view showing how we were able to reduce the original PRZ from 6 pips down to 3. Yes it is possible to identify high probability turning points with 3 to 6 pips. This is what I call trading at wholesale prices. Laser sharp entries I can’t match with indicators. 9er’s style uses indicators that help you get closer to this PRZ. This is what I like about his style. In the next post we will address the CD leg.
Cheers,
Mr. Pip
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 11_30_2012 3.jpg Size: 112 KB
If you fail to plan, you plan to fail.
  • #213
  • Nov 30, 2012 9:48pm Nov 30, 2012 9:48pm
And on we go, let’s dissect the CD completion of the pattern. Before I do this I want to add that confluence of different ratios and structure = high probability, which =$$$$ in your pocket! Now back to business. I further addressed the market structure area which is seen as the dotted line magenta in color. I also took an extension measurement of the first impulse swing at point C. This impulse move broke structure and closed below structure with strength. The correction was insignificant and only tested prior support also reflected in the chart below. This is our confirmation that order flow will remain with the bears and the bulls are too waek to reject their attack. So after consulting all our measurements and structure we were able to reduce our PRZ from 9 pips to 5 pips. How is that for accuracy?
A side note, trading is an investigational process. We are building a case for entry. We cannot trade if there is no reason to enter (no case). Putting these pieces together allows us to place the odds in our favor and make sound, informed profitable decisions. With the same token we know immediately when we are wrong and should consider a graceful exit.
Please ask questions we are here to help. I know this is very advance stuff and it may be beyond the experience level of some of you, it’s taken me years to master this. This is why I’m so excited for you that 9er has found a style that narrows the gap and learning curve. Can’t say this enough, great job 9er. Let’s keep this going
PS. Tomorrow I'll post a video of this process. I apoligize up front as the backgound is black (it was already made) hopefully you will be able to see it well if not I can always make another one.
Cheers,
Mr. Pip
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 11_30_2012 4.jpg Size: 120 KB
If you fail to plan, you plan to fail.
  • #214
  • Edited 10:03pm Nov 30, 2012 9:50pm | Edited 10:03pm
Quoting Mr. Pip
[font=Calibri][size=3]Let’s continue, a closer look at the BC leg offers other harmonic consideration which allows us to refine our PRZ further. There was a perfect ABCD pattern in the BC leg. It is not uncommon to see patterns within patterns and often help us reinforce our premise. Just keep in mind that the higher time frame trumps the smaller as the big boys (real money) mainly trade off of higher time frames. The chart below is a closer view showing how we were able to reduce the original PRZ from 6 pips down to 3. Yes it is possible to identify...
Guys, Im a bit lost here as I cheat a bit and use software that calculates the PRZ for me so I dont understand at all how the PRZ is calculated. Is there one way or several ways to do it. I have a funny feeling most of us are lost on this part and in fact many dont know that the PRZ is where you choose to enter your trade at. So for all of us(especially me) can you step by step explain how the PRZ is calculated.

Oh one more thing, for both 9er and Mr Pip is -You dont have to enter the trade in the PRZ Zone do you. You could actually enter when it moves out of the zone as long as its moving in the direction of the tgt., correct? I have found in my limited experience with harmonic software that I get just as good of a result if I actually wait until price is almost at the first tgt before I get in if there is a lot of pips to be had and 1st tgt is inconsequential anyway. IS THAT OK?

Thank you,
Silat50
  • #215
  • Nov 30, 2012 10:22pm Nov 30, 2012 10:22pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Glad you picked up on that Laimonk! It's intended to the rightful recipients!

Quoting laimonk
So much to read and absorb

BUT did you notice this change fm 9er

"Never argue with stupid people, they will drag you to their level and beat you with experience"

LOL
  • #216
  • Nov 30, 2012 10:28pm Nov 30, 2012 10:28pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Choudri - thank you for joining us. You can use any daily pivot indicator as in this day and age they all pretty much (within a pip or 2) are the same. Search the forum - you'll find one. The one I use is provided default by IBFX

Quoting choudri
Dear 9er Nice thread subscribed expecting the indi displaying the numerical values of DAILY PIVOTS. GOODWISHES GOD BLESS
  • #217
  • Nov 30, 2012 10:55pm Nov 30, 2012 10:55pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
EP - thank you for the question, means a lot as I have seen your contributions to other threads, and I know that you are the real deal. I'll answer your questions line by line below:

1.sessions
I was introduced to FX, with the claim that it can be traded 24hour a day.
However, have realised that for us retail punters it is quite misleading.

Well we all know that it can be traded 24 hours a day, the real question is: Should it be traded 24 hours a day? You are right, that premise is misleading

The year that I became unemployed, I had just enough in my account to be dangerous. I tried to trade the end of the UK and the entire US and was failing miserably (due to low volatility, and my personal ignorance as a trader). I was faced with being homeless, losing my house and risking my family.

To try something new one night I stayed awake through the BORING asia session into the UK. Once it came alive, I traded my ass off on the lower TF's. The first night I made $1,500 the rest is history. Volatility is king - News SUCKS!

So to answer your question: Low volatility will test your mental, it will ruin setups and slowly drain your account. UK/US all the way. I always trade on Friday, although cautiously, Monday's are hit and miss


2.Volume
Following on from the above is the issue of Volume, which you have alluded to a few times. Do sessions and volume have any influence in your trading decisions?

100% yes. I have traded low vol before, and have had some success. But my style of trading needs me to be in and out (or at least pips locked in) of a trade inside of the signal candle (If I am ever stopped at my lock, I NEVER re-enter on the same candle, not sure why, it just "feels wrong"), I hate miserably waiting for pips to get generated. (like yesterday, waited 6 hours to lock 10 pips, then got stopped anyway)

3.Arrows
I notice on some of your charts a small green arrow and wonder if it has any significance.

They used to have significance, but not so much anymore. The arrows that you see are signals generated from an indicator for various dimensions of BW system. AO signal generator, Balance line, etc.

The really useful one that I use is the "Fractal" buy and sell. I rarely use the signals, but what I like is that this indicator paints only the essential fractals (notice some of the fractals in my charts are larger than the other ones).

Read about fractals in BW books and how you can safely add on to any trade. I have to say next to AO divergence, the fractal is my most powerful tool. (I love when the first fractal paints outside the mouth!)

Hopefully I've answered to your satisfaction EP. Thanks again have a good weekend


Quoting EaglePip
Hi 9er,
Was drawn to your thread while browsing around.
If I may, just want to get your response on a few points.
1.sessions
I was introduced to FX, with the claim that it can be traded 24hour a day.
However, have realised that for us retail punters it is quite misleading.
In practice, the wisdom seems to be to generally restrict trading to Uk/US sessions and also to avoid MOn and Fri.
2.Volume
Following on from the above is the issue of Volume, which you have alluded to a few times. Do sessions and volume have any influence in your trading decisions?
3.Arrows...
  • #218
  • Nov 30, 2012 11:07pm Nov 30, 2012 11:07pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
MrPip very well spoken! What you said is true and if anyone is offended by that, it more than likely is the guilty.

The two guys yesterday is a good example of "Casting stones from the porch of their glass house"

The one guy talking about Fibo actually reminded me of ME a few years ago when I thought it was important to know EVERYTHING.

Keeping in mind he had a point in that the Fibo is actually rather complicated. But to understand it one need only to understand how the market breaths (retracements, when and where).

Same for ABCD patterns - they are intricate in their nature also, there are waves, sub-waves, waves inside of waves, it's MADDENING; at the end of the day, if you spend your time trying to find all these little waves, you will drive yourself NUTS!

Look for the simple - the major wave! Look for symmetrical pyramids, triangles, THESE are the major waves inside their respective time frame.

Also DO NOT WAIT FOR THE ZUP TO PAINT A PATTERN. Look for pyramids or triangles that it draws when it shows fibo levels. It is drawing the pattern for YOU - it is telling YOU to paint it, hell save it as .png, open with paint and draw the lines yourself. Practice the art!

Good stuff. Appreciate your input!

Quoting Mr. Pip
You are very welcome. I'm grateful to 9er for allowing me to contribute. As I said before I have read a lot and visit many forums but seldom contribute due to the lack of positive contributions. It's funny how the first to criticize and bash are the ones who struggle. Neither 9er or I need to do this but I have been inspired and will continue to contribute as long as this thread stays like this and 9er supports my efforts. I will also say that we can all learn from each other. I have learned from newbies and veterans. That is the beauty of these...
  • #219
  • Nov 30, 2012 11:20pm Nov 30, 2012 11:20pm
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Mr Pip - may I ask a favor, or rather offer an observation? The one thing that I like about Bill Williams books is that they are aesthetically easy on the eyes, making them easy to read. "Easy to read" is important when there is essential communication within the lines, important and relevant information that needs to be read.

I have read all of your inputs, and I like that you trade from the same foundation that I do - the basics. However, when I read your first post covering zones and ABCD patterns, I found myself not wanting to read it, because it was clumped together in one LARGE paragraph. It was not aesthetically pleasing - I actually didn't read it the first time I saw the post.

To get the readers attention - break your communication up (as I have done in this reply). It is much easier to read a series of sentences, than it is to read one large paragraph.

The one's learning, need a medium that is aesthetically pleasing, one that says "ok, this is easy to read". Making your communication that much more conducive to learning, rather than dreading to read it!

otherwise I love your contributions and say "Press on Joe"

Make sense?



Quoting Mr. Pip
[font=Calibri][size=3]And on we go, let’s dissect the CD completion of the pattern. Before I do this I want to add that confluence of different ratios and structure = high probability, which =$$$$ in your pocket! Now back to business. I further addressed the market structure area which is seen as the dotted line magenta in color. I also took an extension measurement of the first impulse swing at point C. This impulse move broke structure and closed below structure with strength. The correction was insignificant and only tested prior support also...
  • #220
  • Dec 1, 2012 12:36am Dec 1, 2012 12:36am
This is advanced Forex Class.
not for anybody.
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