The similarity system | Page 104 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Similarity: A Practical Approach 859 replies

Similarity Trading - The ZZBB Method 215 replies

Rainbow similarity 256 replies

Similarity Stuff 17 replies

Directional Similarity 0 replies

Attachments: The similarity system
Exit Attachments

The similarity system

  • #2,061
  • Jul 15, 2013 9:24am Jul 15, 2013 9:24am
Quoting vlady1974
Guys, no shorts yet. Someone watch the ZZ and Bolinger for a signal. We want a fakey (price touches upper BB)... or a confirmed Zig. ONLY AFTER look for a trade entry, not before. You don't want to get whipsawed.
so I will take a long, because my green zone needs to be cleared completly...
  • #2,062
  • Jul 15, 2013 9:26am Jul 15, 2013 9:26am
Quoting vlady1974
Guys, no shorts yet. Someone watch the ZZ and Bolinger for a signal. We want a fakey (price touches upper BB)... or a confirmed Zig. ONLY AFTER look for a trade entry, not before. You don't want to get whipsawed.
Ok help me out with this since this is in real time:

ZZ leg is going up. So if price does not touch the outer band, we wait to show short. SO....if we wait for the outer band touch/confirmed new direction ZZ, we can still hop in short and net a few pips?

I think my issue is worrying about missing a move and not landing enough pips to warrant entering the trade.
  • #2,063
  • Jul 15, 2013 9:26am Jul 15, 2013 9:26am
Most of the questions you guys are asking - will be answered properly when I return. I don't want to get involved now or I will mess up my Vac.
very soon, you will get the trick!!!
  • #2,064
  • Jul 15, 2013 9:28am Jul 15, 2013 9:28am
Quoting crottsinabox
the high of my candle did not reach the top of the box. When we talk about reaching similarity across brokers, must the price be exact or can it be off even a bit? The high of my candle was 3 pips shy of the top of the zone
Is that what the rules state - that the entire height of the box needs to be retraced by price?
My own interpretation is that it doesn't need to do that. I may be wrong. Eurusdd thoughts on this?
A pip is only worth it if you know how much you risked to earn it
  • #2,065
  • Jul 15, 2013 9:29am Jul 15, 2013 9:29am
Quoting Eurusdd
Most of the questions you guys are asking - will be answered properly when I return. I don't want to get involved now or I will mess up my Vac. very soon, you will get the trick!!!
Fair enough, I have nothing but time

Now that vlady added a few things, my observation is that once this current dis-similarity ends, a zone will be created under the current price, and at the point, there would only be zones to correct below
  • #2,066
  • Jul 15, 2013 9:30am Jul 15, 2013 9:30am
Quoting Forex Lion
{quote} so I will take a long, because my green zone needs to be cleared completly...
Ahhh... now you're thinking. Yes.

Me, I wouldn't do it because I want the bigger move. But this is trading. We are looking for arbitrage opportunities.
So.... I like what you are thinking. If the zone is not cleared, determine your lowest price move as the risk maximum (ie your stop), find a good entry point now and target that price point. It's a good reason for a trade!! Do it!
A pip is only worth it if you know how much you risked to earn it
  • #2,067
  • Jul 15, 2013 9:30am Jul 15, 2013 9:30am
Here is my prediction: Tomorrow between GMT 9 AM and 12:30 PM (noon) we will have a touch down to the lower zone that s thirsty for an embrace from the price.
  • #2,068
  • Jul 15, 2013 9:30am Jul 15, 2013 9:30am
Quoting vlady1974
{quote} Is that what the rules state - that the entire height of the box needs to be retraced by price? My own interpretation is that it doesn't need to do that. I may be wrong. Eurusdd thoughts on this?
The zone was created in the candle, so yes, the whole thing has to go!!1 There is no other way around that!!!!

A zone is completed when it does NOT PAINT ANYMORE!!
  • #2,069
  • Jul 15, 2013 9:31am Jul 15, 2013 9:31am
And that Ladies and Gentlemen concludes today's epic trading session proudly brought to you and yours by Monsieur Eurousdd and the 300% return a week Goon-Squad. I'm done for the day. Crazy lots and 20 pips secure.

@Eurousdd: Lemme know the name of your favorite charity. I'm sending them 2% of my account balance at the end of next month.

Been trading for only 2 months. You and Nanningbob just exponentially reduced my learning curve. I'm already insanely profitable, consistently.
Alright kids, I'm off to cut brains again. Don't want the wicked witch of neuro-ward to scold me today as well. Lol!
  • #2,070
  • Jul 15, 2013 9:32am Jul 15, 2013 9:32am
Quoting Eurusdd
Most of the questions you guys are asking - will be answered properly when I return. I don't want to get involved now or I will mess up my Vac. very soon, you will get the trick!!!
Happy Vacationsno problem, we will try and think and wait until you are back..enjoy
  • #2,071
  • Jul 15, 2013 9:33am Jul 15, 2013 9:33am
Quoting Eurusdd
{quote} The zone was created in the candle, so yes, the whole thing has to go!!1 There is no other way around that!!!! A zone is completed when it does NOT PAINT ANYMORE!!
ok then. on my charts the upper zone is still in play.

This is awesome. Most threads by now people would be arguing over the system/plan. It's nice to see everyone helping out. Thanks everyone
  • #2,072
  • Jul 15, 2013 9:37am Jul 15, 2013 9:37am
Quoting vlady1974
{quote} Ahhh... now you're thinking. Yes. Me, I wouldn't do it because I want the bigger move. But this is trading. We are looking for arbitrage opportunities. So.... I like what you are thinking. If the zone is not cleared, determine your lowest price move as the risk maximum (ie your stop), find a good entry point now and target that price point. It's a good reason for a trade!! Do it!
I would say Daily S1 is a good price point 13049. If you can risk an extra 5 pips, you could enter now and target 13076.

Entry 13051.2
Risk 13044.0
TP1 13076.0

7.2 vs 24.8 = 30% risk to 70% reward.
A pip is only worth it if you know how much you risked to earn it
  • #2,073
  • Jul 15, 2013 9:39am Jul 15, 2013 9:39am
Quoting crottsinabox
{quote} ok then. on my charts the upper zone is still in play. This is awesome. Most threads by now people would be arguing over the system/plan. It's nice to see everyone helping out. Thanks everyone
Good, now I can go away:
I will advice that you study the way price reacts to new zones in real-time first! I am getting settings for other important timeframes for you.
Remember, this is serious business: We are playing against the big boys!!!!
We will know where they want to go-with certainty- only when we are ready to do deep analysis.
You cannot beat a chess grand-master if you are not prepared to think 8 to 20 steps ahead and think fast good!!!!

-------
closing statement!!!!
  • #2,074
  • Jul 15, 2013 9:39am Jul 15, 2013 9:39am
I'm still learnig how it works, but I took 2 trades for today and made 90pips, looking foward :-) nice system
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15_7.jpg Size: 77 KB
Click to Enlarge Name: 15_7_01.jpg Size: 446 KB
  • #2,075
  • Jul 15, 2013 9:39am Jul 15, 2013 9:39am
Quoting vlady1974
{quote} I would say Daily S1 is a good price point 13049. If you can risk an extra 5 pips, you could enter now and target 13076. Entry 13051.2 Risk 13044.0 TP1 13076.0 7.2 vs 24.8 = 30% risk to 70% reward.
Oh look! As I was creating that trade plan, it came down and revisited Daily S2 where I placed my earlier trade.
Guys you could have placed a small long on this baby.... work out your risk then set your target.

BTW.... no one has posted a Zig Zag chart yet, but I'm almost willing to be that last move is a fakey and we are due another move up to finish the play.
A pip is only worth it if you know how much you risked to earn it
  • #2,076
  • Jul 15, 2013 9:41am Jul 15, 2013 9:41am
Quoting Eurusdd
{quote} The zone was created in the candle, so yes, the whole thing has to go!!1 There is no other way around that!!!! A zone is completed when it does NOT PAINT ANYMORE!!
Got it Captain!
Makes a whole lot more sense that way. Now. Go and enjoy your vacation and don't worry about us kids!

Thanks again!
A pip is only worth it if you know how much you risked to earn it
  • #2,077
  • Jul 15, 2013 9:43am Jul 15, 2013 9:43am
Quoting vlady1974
{quote} Oh look! As I was creating that trade plan, it came down and revisited Daily S2 where I placed my earlier trade. Guys you could have placed a small long on this baby.... work out your risk then set your target. BTW.... no one has posted a Zig Zag chart yet, but I'm almost willing to be that last move is a fakey and we are due another move up to finish the play.
here it is with zz
p.s. I entered the trade as price touched the middle bb
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m15-excel-markets.png Size: 50 KB
  • #2,078
  • Jul 15, 2013 9:46am Jul 15, 2013 9:46am
Quoting Forex Lion
{quote} here it is with zz p.s. I entered the trade as price touched the middle bb {image}
It does look like unfinished business up there.

Using other principles.... the ZZ shows the last swings.... so that zone is basically the last major swing high.
GL!
A pip is only worth it if you know how much you risked to earn it
  • #2,079
  • Jul 15, 2013 9:46am Jul 15, 2013 9:46am
Quoting vlady1974
{quote} Oh look! As I was creating that trade plan, it came down and revisited Daily S2 where I placed my earlier trade. Guys you could have placed a small long on this baby.... work out your risk then set your target. BTW.... no one has posted a Zig Zag chart yet, but I'm almost willing to be that last move is a fakey and we are due another move up to finish the play.

As of 12:48 EST
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m15-forex-capital-markets-2.png Size: 119 KB
  • #2,080
  • Jul 15, 2013 9:54am Jul 15, 2013 9:54am
Quoting crottsinabox
{quote} As of 12:48 EST {image}
Thanks.

My instant reaction is:

a) I would wait for the bigger move which would come after Similarity. (which has just happened).
b) If I was scalping like Forex Lion, then I would use very tight stops. The reward is there but there is a chance of a whipsaw as we all just saw. The reason for this is because of the newly formed pink bar (dissim) which has no similarity bar printed yet. Is that indi sync'd to an 1hour setting?... it's 8 minutes to 6 here in London so you may just very well see a new graphic.
A pip is only worth it if you know how much you risked to earn it
2 traders viewing now