The similarity system | Page 447 | 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

  • #8,921
  • Sep 22, 2014 9:49am Sep 22, 2014 9:49am
Quoting vlady1974
Looks like 5M is leading the charge for the moment. Bounce off 20 and now above 29....er again. Edit: If this has decided that it's definitely down, it would a great setup to see 2845 again for the retracement. That's roughly where I would short it.
i would say 1 hour candle is giving more clear direction. will hourly candle close above 1.2837 or below 1.2833? there should be a few easy pips as soon as next candle opens.
As Above, So Below
  • #8,922
  • Sep 22, 2014 10:05am Sep 22, 2014 10:05am
Quoting vlady1974
{quote} It gets harder doesn't it? Can't hold positions in the same way you could back in 2008/2009 and prior.
as soon as all brokers switch to "real" STP, volatility will rise like crazy and it will be something like before..
Don't use both feet to test the depth of the river
  • #8,923
  • Edited 10:19am Sep 22, 2014 10:06am | Edited 10:19am
Quoting vlady1974
{quote} It gets harder doesn't it? Can't hold positions in the same way you could back in 2008/2009 and prior.
I started trading back in 2009, so I really did not have any good results to compare then to now. I can say for sure I am done losing, I will never have a losing week (day) bold, again from the discoveries made with this method.

I do know that short to mid term positions seem to be the way to go for now. I will be adjusting my main strategy closer to short positions as I have discovered reliable way to identify turning points on any TF.
  • #8,924
  • Sep 22, 2014 10:07am Sep 22, 2014 10:07am
Quoting Strawbale
{quote} as soon as all brokers switch to "real" STP, volatility will rise like crazy and it will be something like before..
What do you mean, switch to STP?
  • #8,925
  • Sep 22, 2014 10:19am Sep 22, 2014 10:19am
hey guys I'm new here and i was following this thread and reading about how to trade the similarities and dissimilarities.. right now my usdjpy chart looks like this... can anyone tell me if this is supposed to look like this cause my stoc seems really big with alot of dis?

please tell me how to zoom out of my stoc if possible :x
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 142 KB
  • #8,926
  • Sep 22, 2014 10:20am Sep 22, 2014 10:20am
Quoting Baillie
{quote} What do you mean, switch to STP?
Don't use both feet to test the depth of the river
  • #8,927
  • Sep 22, 2014 10:30am Sep 22, 2014 10:30am
I have bottom TZ forming from M1 to H4
I want more brain power!
  • #8,928
  • Sep 22, 2014 10:31am Sep 22, 2014 10:31am
Quoting Baillie
{quote} What do you mean, switch to STP?
Straight Through Processing.
http://www.investopedia.com/terms/s/straightthroughprocessing.asp
A pip is only worth it if you know how much you risked to earn it
  • #8,929
  • Sep 22, 2014 10:33am Sep 22, 2014 10:33am
Quoting cfdtaleong
I have bottom TZ forming from M1 to H4
2819?
A pip is only worth it if you know how much you risked to earn it
  • #8,930
  • Sep 22, 2014 10:37am Sep 22, 2014 10:37am
Quoting vlady1974
{quote} 2819?
2819ish. My values are not optimised yet but yeah
I want more brain power!
  • #8,931
  • Sep 22, 2014 10:42am Sep 22, 2014 10:42am
Quoting cfdtaleong
{quote} 2819ish. My values are not optimised yet but yeah
It's okay CFD... I don't have access to TZ at work, so I rely on naked price action. Looks like the 19 is the top part of the zone, bottom part is 16.
If purely on 5M, then h = 10 is a clear Transient of the 19-16 range for the left. There's 5 bars to the right, so conservative approach is to wait another 5 bars (25 min) and if price comes back down but doesn't breach, long. Breach = short.
A pip is only worth it if you know how much you risked to earn it
  • #8,932
  • Sep 22, 2014 10:55am Sep 22, 2014 10:55am
Quoting FX-Jay
Now for the good stuff: I have 2 calls that I have made which expire on Monday Here's a quick recap on both of them since I may not be here tomorrow: 1- USDCHF Current price 0.9405 Target price 0.9300 (105 pips from current prices) 91% probability that target will be hit by the End of Monday's London session 93% probability that target will be hit by the End of Tuesday's London session 2- USDMXN Current price 13.200 Target price 13.140 (60 pips from current prices) 90% probability that target will be hit by the End of Monday's London session I don't...
The London session is about to end and we're no where close to the expected targets, so time to take responsibility and look into the near future to see where we may be heading.

Both the USD/CHF & USD/MXN didn't reach their targets in the time provided. Should we close positions now?
I would say no! for USD/CHF I'm keeping the short position open till Tuesday mid American session, and for USD/MXN I'm going to keep the short position open till Wednesday mid European session.

I will make sure to explain the timing factor of this strategy in the near future. The optimum time was today's London close. However there is in most cases a back up period, this period shouldn't exceed 48 hours for 4H TFs, This is the period that allows you to get out of your position at the best possible price even if the target is not reached.

Best,
Jay
  • #8,933
  • Sep 22, 2014 11:02am Sep 22, 2014 11:02am
This is to give you an idea on what could have been done while waiting for ultimate targets to be hit:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB
Click to Enlarge Name: Screenshot2.png Size: 3 KB
  • #8,934
  • Sep 22, 2014 11:04am Sep 22, 2014 11:04am
Quoting FX-Jay
{quote} The London session is about to end and we're no where close to the expected targets, so time to take responsibility and look into the near future to see where we may be heading. Both the USD/CHF & USD/MXN didn't reach their targets in the time provided. Should we close positions now? I would say no! for USD/CHF I'm keeping the short position open till Tuesday mid American session, and for USD/MXN I'm going to keep the short position open till Wednesday mid European session. I will make sure to explain the timing factor of this strategy in...
Jay,

I still like the looks of the MXN making it to the target, however.
Life is too short to have anything but delusional notions about yourself.
  • #8,935
  • Sep 22, 2014 11:07am Sep 22, 2014 11:07am
ok, this is a classic bullish signal for me on H1 (as of 7min ago).

A previous TZ was taken out and price retraced to above the previous TZ (doesn't have to close above). At some point, a top TZ needs to be created above the red line and, given the adjacent bar has a HH, there is plenty of room for even a TZ with h=1 to form. Doesn't mean it can't make a LL in the meantime but, unless a lower TZ is taken out, I'm up, up, up.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1sep22.png Size: 26 KB
  • #8,936
  • Edited 11:24am Sep 22, 2014 11:11am | Edited 11:24am
Quoting vlady1974
{quote} It's okay CFD... I don't have access to TZ at work, so I rely on naked price action. Looks like the 19 is the top part of the zone, bottom part is 16. If purely on 5M, then h = 10 is a clear Transient of the 19-16 range for the left. There's 5 bars to the right, so conservative approach is to wait another 5 bars (25 min) and if price comes back down but doesn't breach, long. Breach = short.
Thanks for the advice. M1 has a full TZ for that range, M5 has your condition for long fulfilled assuming h(10) bit I'm still watching. My h is higher

Edit Wall st is at lunch and London is hitting the bars...charts are quiet
I want more brain power!
  • #8,937
  • Sep 22, 2014 11:13am Sep 22, 2014 11:13am
Quoting yuxuan89
hey guys I'm new here and i was following this thread and reading about how to trade the similarities and dissimilarities.. right now my usdjpy chart looks like this... can anyone tell me if this is supposed to look like this cause my stoc seems really big with alot of dis? please tell me how to zoom out of my stoc if possible :x
Set stoch to 300,1,1

Please don't trade this live whilst you are so unfamiliar with the ideas flying around here
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #8,938
  • Sep 22, 2014 11:18am Sep 22, 2014 11:18am
Quoting FX-Jay
This is to give you an idea on what could have been done while waiting for ultimate targets to be hit: {image} {image}
You got your scalping game on!
  • #8,939
  • Sep 22, 2014 11:18am Sep 22, 2014 11:18am
Quoting Strawbale
{quote}
Good answer, so informative!
  • #8,940
  • Sep 22, 2014 11:21am Sep 22, 2014 11:21am
Quoting vlady1974
{quote} Straight Through Processing. http://www.investopedia.com/terms/s/straightthroughprocessing.asp
Thanks Vlady, Just not up on that acronym, some are Sm@$$ here.
22 traders viewing now