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Trading is as simple as ABCD

  • #781
  • Edited 4:58am Jul 4, 2014 4:35am | Edited 4:58am
Quoting pres78
{quote} Oh and normally point C will exceed point A and end around the high of point 4 up to 1.618 of wave A... I am a basic Wave guy though so I am not sure what happens after point C fails to even get back to point A... Normally however after C we would go back into a new 5 wave count... With a failed wave C though... HMMM. Remember also one a 1 minute chart we are seeing the waves inside the waves that are inside the waves etc... That whole 5 count is one leg on a higher TF. I don't count waves in my CCI trading per say but I do watch how much...
Stop!!!! Thats enough Elliot Wave for me!!! It kinda makes my head spin.

I asked the question becos I thought maybe it would help with our trade management to know what to expect, so if I can decipher what you were saying, it should continue down, right???

You see thats all I ever want to know from a chart, is it going up or down?? Anything more than that for me is complete overload!!!

I think everyone will agree the charts we keep posting are probably the clearest charts they've ever seen in their lives and they have no doubt with just one quick glance as to whether they are going up or down?? That in itself makes it the simplest charts to trade ever doesn't it??

And of course the most incredible thing is they are all 1 minute charts!! You know the ones that are nothing but noise???

Hope you all realise this is a tongue in cheek post, please don't take offence anyone who lives and breathes Elliot waves, fibonacci levels, Gartley Patterns, etc etc they all have their place, when trading, in the dustbin!! Only kidding!!!

No the point I'm trying to make is lets keep this simple, lets just stick to our dear old friend the ABCD wave, thats as complicated as I want it to get simple as that.

So if you find yourself looking at a chart and saying "Is this going up or down" guess what you should do???? Reach for your Elliot Wave book? Put your Fibonacci levels on the chart? Try and make it fit a Gartley pattern ???

Nah!!!!!! Find yourself another chart where you know which way its gonna go!!


Course there's still every chance you're get it wrong but at least you've got half a chance of getting it right!!!
Feel the Fear and do it anyway!!!
  • #782
  • Jul 4, 2014 5:08am Jul 4, 2014 5:08am
Talking of which how about these for starters??
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #783
  • Jul 4, 2014 5:18am Jul 4, 2014 5:18am
Having a look at this gbpcad as top of the TT table and a nice strong last push down. Lets see what happens??

Only negative is it oversold as over -200 level??

Only one way to find out.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcadm1.png Size: 48 KB
Feel the Fear and do it anyway!!!
  • #784
  • Jul 4, 2014 5:23am Jul 4, 2014 5:23am
Ooops time of days not on my side though is it but it looks kinda well traded. Hmmm not sure???

Will play it tight and if it goes against me get out super quick.

I know Mr V.'s pulling his hair out screaming "Wrong time of day Clive!!!!!!"
Feel the Fear and do it anyway!!!
  • #785
  • Jul 4, 2014 5:25am Jul 4, 2014 5:25am
Oh my god just had a quick peak at the hrly and its one of Mr V's famous first LH entries after a lovely LL.

Gotta be worth a shot just for that reason alone surely???
Feel the Fear and do it anyway!!!
  • #786
  • Jul 4, 2014 5:27am Jul 4, 2014 5:27am
Getting interesting now approaching a couple of our key levels waiting for 1 min CCI to turn down then HA candle change then we're away.
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #787
  • Jul 4, 2014 5:31am Jul 4, 2014 5:31am
Gonna play it cautiously due to that oversold 15 min CCI but thats starting to line up better now too coming back to -100 level.
Feel the Fear and do it anyway!!!
  • #788
  • Jul 4, 2014 5:42am Jul 4, 2014 5:42am
Hmm try to pull me in early but my pending sell stop didn't get hit.

Looking for it to hit that 100sma thats my best bet I recon.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcadm1.png Size: 50 KB
Feel the Fear and do it anyway!!!
  • #789
  • Jul 4, 2014 5:52am Jul 4, 2014 5:52am
You know it just doesn't feel right. I've dropped a couple of pending orders on and it hasn't hit one so I don't feel too good about it and of course Mr V.'s words are ringing in my ears "wrong time of day" "The yanks are on holiday"

All in all I'm not going for it on this pullback want it to go back to our 100sma and maybe if I feel good about it I'll have another go but if that don't happen, thats it for me.

Take the rest of the day off and keep my winnings today.
Feel the Fear and do it anyway!!!
  • #790
  • Jul 4, 2014 5:57am Jul 4, 2014 5:57am
Two failed drives there makes me suspicious but looking back at last drop it had same sort of set up so not giving up on it totally just very suspicious , thats all, just wary.

Tick box reacted very powerfully too a couple of times so its interesting to see how it pans out.

Oh and by the way its no big deal if it goes and I miss it , bit like London buses there will be another one along shortly.
Feel the Fear and do it anyway!!!
  • #791
  • Jul 4, 2014 6:04am Jul 4, 2014 6:04am
Very interesting that. I missed it in the end too much caution but just look how similar those last 2 moves down were, both times it had 2 little failed pushes then it went. Interesting to see similar characteristics.

Anyway no wories have to make a decision at the time so stick with that.

Anyway another bus along shortly I'm sure.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcadm1.png Size: 54 KB
Feel the Fear and do it anyway!!!
  • #792
  • Jul 4, 2014 6:06am Jul 4, 2014 6:06am
it was a good one Clive, brake TL and retest, CCI 210 back in trend, divergence CCI 14.
Attached Image (click to enlarge)
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  • #793
  • Jul 4, 2014 6:10am Jul 4, 2014 6:10am
Quoting huskyboy
it was a good one Clive, brake TL and retest, CCI 210 back in trend, divergence CCI 14. {image}
Thanks Huskyboy

Did you catch it???

Good to see it top of both TT's too.

Early days still here so gaining more confidence as each trade goes by but all looking very good for the future.

Are you having a go with it??

Train yourself on demo or even better the good old strategy tester can practice anytime you want with that but can't use TT will have to just manually identify +/-100 levels on 15 min cci and go from there.
Feel the Fear and do it anyway!!!
  • #794
  • Jul 4, 2014 6:13am Jul 4, 2014 6:13am
Ha Ha look at that little so and so go!!!!!

The market always knows when you've missed one and likes to rub salt in the wound doesn't it???
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcadm1.png Size: 55 KB
Feel the Fear and do it anyway!!!
  • #795
  • Jul 4, 2014 6:23am Jul 4, 2014 6:23am
One thing we might learn from this is how to identify good pairs to trade, after all we get so much choice every day we have to find a way of sorting the good from the not so good.

Have a look at GBPCAD the reason I chose it was clear previous pushes down so telling us that its trending strongly.

Of course the opposite is also true if we encounter any failed drives down then time to close out and bank your money.

Never be frightened to close out too early if it ain't moving strongly just get the **** out. Actually from now on thats going to be our term for "time to close old chap" or GTFO!!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcadm1.png Size: 55 KB
Feel the Fear and do it anyway!!!
  • #796
  • Jul 4, 2014 6:26am Jul 4, 2014 6:26am
Quoting clivepackham
{quote} Thanks Huskyboy Did you catch it??? Good to see it top of both TT's too. Early days still here so gaining more confidence as each trade goes by but all looking very good for the future. Are you having a go with it?? Train yourself on demo or even better the good old strategy tester can practice anytime you want with that but can't use TT will have to just manually identify +/-100 levels on 15 min cci and go from there.
Nope, i am at work, just had a break and saw it, hardly no trading for me but i like your strategy, simple and clear . Thanks for that
  • #797
  • Jul 4, 2014 6:33am Jul 4, 2014 6:33am
Quoting clivepackham
{quote} Stop!!!! Thats enough Elliot Wave for me!!! It kinda makes my head spin. I asked the question becos I thought maybe it would help with our trade management to know what to expect, so if I can decipher what you were saying, it should continue down, right???
Now Clive don't ask questions if you don't want answers!

Long and short what I take away from Elliot Wave and it all goes back to what we've been preaching... The first retrace is the best. For the Elliot guys it's the start of leg 3 which is the longest leg and preceeds the ABC which is a re-distribution (for shorts) or re-accumulation (for longs) phase where the big boys reload.

But yes it all goes back to simple... Get in after first retrace if trend is in place because that's where the money and biggest R:R's start.

If you look at all the methods that change in trend where we have been heading up or down and then cross the MA's in this case and the trend CCI switches that first retrace is something... Point 2 before leg 3 in waves, point C in a Gartly ABC pattern (which leads to leg D, Wave leg 3 ending)... all of the method come together in the end.

Get in early.
Today's zone = Tomorrow's opportunity!
  • #798
  • Jul 4, 2014 8:59am Jul 4, 2014 8:59am
Quoting pres78
{quote} Now Clive don't ask questions if you don't want answers! Long and short what I take away from Elliot Wave and it all goes back to what we've been preaching... The first retrace is the best. For the Elliot guys it's the start of leg 3 which is the longest leg and preceeds the ABC which is a re-distribution (for shorts) or re-accumulation (for longs) phase where the big boys reload. But yes it all goes back to simple... Get in after first retrace if trend is in place because that's where the money and biggest R:R's start. If you look at...

re-accumulation/ re- distribution - isnt that part of Volume spread analysis?!
super technical topic!
  • #799
  • Jul 4, 2014 9:04am Jul 4, 2014 9:04am
Quoting saticdoor86
{quote} re-accumulation/ re- distribution - isnt that part of Volume spread analysis?! super technical topic!
Yes... that's where my trading heart comes from ...

Call it re-buying and re-selling (or filling more orders) to keep it simple for this thread.

No straight lines in FX because of the big boys need to slowly fill their orders. Thus they mark-up and down price against themselves as required (creating the waves or ABC's or whatever you want to call them) to get more orders filled. The same reason for the LO fake outs etc... It's all about filling as many of their orders as they can to build their massive money making positions.
Today's zone = Tomorrow's opportunity!
  • #800
  • Jul 4, 2014 9:06am Jul 4, 2014 9:06am
Quoting pres78
{quote} Yes... that's where my trading heart comes from ... Call it re-buying and re-selling (or filling more orders) to keep it simple for this thread. No straight lines in FX because of the big boys need to slowly fill their orders. Thus they mark-up and down price against themselves as required (creating the waves or ABC's or whatever you want to call them) to get more orders filled. The same reason for the LO fake outs etc... It's all about filling as many of their orders as they can to build their massive money making positions.

nice, would love to learn the stuff one day. they have a thread here on it?
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