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Trading is as simple as ABCD

  • #4,161
  • Feb 24, 2015 4:58pm Feb 24, 2015 4:58pm
Hi Dave
Don't know why you didn't receive it.

I sent it about 6 hours ago.
Send me a Pm as a test.
Cheers
  • #4,162
  • Feb 25, 2015 2:42am Feb 25, 2015 2:42am
I thought GN gave a nice break and retest. It gave the potential for 20+ pips but came back to give me BE.
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  • #4,163
  • Feb 25, 2015 2:44am Feb 25, 2015 2:44am
Quoting clivepackham
{quote} Hi Godsend Absolutely right about the correct entry but there was just one thing missing on that entry......ME!!! I was still in bed... As for my actual entry that was a break and retest of previous resistance at 184.25, like I said in earlier post once we identify the strong trender and GBPJPY was top at the time then its all about price action and buying dips off of support/resistance. Identifying good places to join the trend and thats what I believe I did there... Anyway your charts look great with your signals showing up well, haven't...
THX. I always have a problem where to exit. So I just enter if it is strong trender + CCi cross 100 + price cross ema8 high/low. The ema8 is also my trailing stop.

Quoting devontrader
{quote} Godsclown,,nice bending channel you got,,,is that a regression channel and do you find it useful? ive tried a few but now found one im comfortable with never tried yours,,,can you post it for me to try out?
I just use it for trend direction, since with all open charts, they are to small to see the whole trend.
Attached File(s)
File Type: mq4 b_Regression_Analysis.mq4   12 KB | 291 downloads
  • #4,164
  • Feb 25, 2015 6:49am Feb 25, 2015 6:49am
Quoting clivepackham
{quote} You are smashing it my friend...... Your exits are particularly amazing, whats the secret to a good exit???
Thread is called "Trading is as simple as ABCD" you are using the ABC (123) but you are not using the CD part.
Simple rule to the pattern is "CD leg is equal to the AB leg" a measured move or a Harmonic move.

Option 1. Apply Fib Exts to the ABC (123). Target the 161.8% & 200% Ext. example below. As price continues and forms another ABC (123) extend your original Fib ext or add another and look for confluence. On the 1st chart you see confluence of the 1st 200% and the 2nd 161.8%, this confirms your TP you also now have a second potential TP at the 2nd 200%. second chart is a 5min of the same. 3rd chart is a 1hr applying the same principle.
PDFs are explanations from Traders other than myself. (expert credibility). Still don't believe that it works. Take "any" chart "any" TF "any" pair and look for ABCs (123s) apply the Fib Ext and see how 8 from 10 times price goes to your TPs.
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Option 2. To be continued.
Attached File(s)
File Type: pdf 123 Chart Pattern + Fib Expansion.pdf   111 KB | 694 downloads
File Type: pdf 'How to use the 123 strategy effectuvely.pdf   1.6 MB | 869 downloads
Cut your Losers short and let your Winners run.
  • #4,165
  • Feb 25, 2015 7:10am Feb 25, 2015 7:10am
Morning All (or Good Evening as and where applicable)

A one word enquiry from myself today to the team "Scale". Does anyone have any sensible simple rules for setting scale on charts such that the geometric aspect of this system can be applied, I cannot for the life of me retain a template that holds true for all/any selected pairs as it will always default the chart base to the price required by the 'core' pair.

Other than that, best wishes to all ! such a great thread to amongst.

Cheers ! Steve
Work to Live, don't Live to Work.
  • #4,166
  • Edited 9:22am Feb 25, 2015 8:37am | Edited 9:22am
Got in GA right after NY open, but market does not move at all. closed at a small loss when candle closed above 100lwma
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  • #4,167
  • Feb 25, 2015 9:17am Feb 25, 2015 9:17am
3 examples from today of the ABC (123) exts working. Not only does it give you a potential TP but you can also use it to see if a trade has enough potential pips to justify an entry.
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Cut your Losers short and let your Winners run.
  • #4,168
  • Feb 25, 2015 9:25am Feb 25, 2015 9:25am
ah, got in GN and it goes against me right away. oops... is there anything wrong with my entry?

entry
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close at lose
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  • #4,169
  • Feb 25, 2015 10:01am Feb 25, 2015 10:01am
Quoting henryloving
Got in GA right after NY open, but market does not move at all. closed at a small loss when candle closed above 100lwma {image}
Have you never thought to look up a TF, 1 at least to see where you are and what has passed before that might have an effect on your entry? You entered short just above a Major S&R level that had had 4 strong rejections off it, at the least you should not have been surprised that price bounced off it again, there are a number of other things on the chart that scream out "Be carefull here" You can not trade the signals from the TTindy in isolation, the TTindy is only giving you a numeric value for the slope of the 100LWMA just 1 moving average. This is not a Mechanical Entry system where X crosses Y and you press the button, this is still a discretionary method that requires analysis. I could probably have given you a more diplomatic answer but diplomacy has never been my strong suit, Mr Packham is much better at that than I.
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Cut your Losers short and let your Winners run.
  • #4,170
  • Feb 25, 2015 10:47am Feb 25, 2015 10:47am
Quoting dee50
{quote} Thread is called "Trading is as simple as ABCD" you are using the ABC (123) but you are not using the CD part. Simple rule to the pattern is "CD leg is equal to the AB leg" a measured move or a Harmonic move. Option 1. Apply Fib Exts to the ABC (123). Target the 161.8% & 200% Ext. example below. As price continues and forms another ABC (123) extend your original Fib ext or add another and look for confluence. On the 1st chart you see confluence of the 1st 200% and the 2nd 161.8%, this confirms your TP you also now...
dee50.is.your.macd..a macd divergence indicator....im trying to find a good.macd for.divergence
  • #4,171
  • Feb 25, 2015 11:23am Feb 25, 2015 11:23am
Quoting devontrader
{quote} dee50.is.your.macd..a macd divergence indicator....im trying to find a good.macd for.divergence
Bog Standard MT4, I am surprised at how reliable it is for divergences and also as a momentum indicator.
Cut your Losers short and let your Winners run.
  • #4,172
  • Feb 25, 2015 11:58am Feb 25, 2015 11:58am
Quoting dee50
{quote} Bog Standard MT4, I am surprised at how reliable it is for divergences and also as a momentum indicator.
personally and probably lots of others too are very impressed with just how clean your charts are and your method to make pips out the market.maybe you should do videos of your trading method for others to learn...put them on youtube
  • #4,173
  • Feb 25, 2015 1:46pm Feb 25, 2015 1:46pm
Quoting dee50
{quote} Have you never thought to look up a TF, 1 at least to see where you are and what has passed before that might have an effect on your entry? You entered short just above a Major S&R level that had had 4 strong rejections off it, at the least you should not have been surprised that price bounced off it again, there are a number of other things on the chart that scream out "Be carefull here" You can not trade the signals from the TTindy in isolation, the TTindy is only giving you a numeric value for the slope of the 100LWMA just 1 moving average....
Thanks Dee50, appreciate very much for your comments, I actually watched GA 4H chart and draw this support line. I was playing with Clive's system and demo trading. esp. shall we consider longer term trend/picture. I need consider more and practise more in my trading.

btw, who is Mr Packham? not familiar as english is not my first language.
Attached Image (click to enlarge)
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  • #4,174
  • Feb 25, 2015 9:36pm Feb 25, 2015 9:36pm
Hi dee50, what is the fast MA on your chart?
  • #4,175
  • Feb 25, 2015 11:08pm Feb 25, 2015 11:08pm
Quoting henryloving
{quote} Thanks Dee50, appreciate very much for your comments, I actually watched GA 4H chart and draw this support line. I was playing with Clive's system and demo trading. esp. shall we consider longer term trend/picture. I need consider more and practise more in my trading. btw, who is Mr Packham? not familiar as english is not my first language. {image}
look at the names....mr packham is clive.to you its sir lol
  • #4,176
  • Feb 26, 2015 6:42am Feb 26, 2015 6:42am
There has been a little confusion about 123s, so I hope this post helps clarify it.

123s are highly subjective just like all things in trading. There are a variety of methods for qualifying 123s, again subjective, e.g. the B-C (2-3) leg should pullback to the 50% of the A-B (1-2) leg or it should pullback to at least the 38% minimum and maximum 61.8%. You can continue to add rules to the point that you hardly ever trade. Point B (2) should be a Lower Low, point C (3) should be a Lower High etc etc etc.

The reason I introduced the 123 Exts was because I was asked how I determine my exit points. Using the 123 exts is one way of providing a Take Profit target, giving you some thing tangible to aim for and enabling you to make an informed judgement of whether there are likely to be enough pips to justify the risk of an entry.

To clarify the GU chart, see example attached, firstly I originally used the 5 min chart because it showed the whole picture, here is the same information but on a 1min chart (3 pip renko). The first pullback is barely noticeable but I used it as it is the 1st pullback and a likely entry point, this gives you a first target (purple), then a well defined swing comes providing a second target (Reddish) followed by a 3 swing giving a final target (Greyish). As the PA develops you extend your Fib Exts to give your self a new perspective, note that 2nd and 3rd swings provide 2 areas of confluence, you now have 2 potential strong areas for your TPs.

Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1 using the 123 exts.png Size: 66 KB
Cut your Losers short and let your Winners run.
  • #4,177
  • Feb 26, 2015 6:53am Feb 26, 2015 6:53am
Quoting henryloving
{quote} Thanks Dee50, appreciate very much for your comments, I actually watched GA 4H chart and draw this support line. I was playing with Clive's system and demo trading. esp. shall we consider longer term trend/picture.
I agree with Mr Packham about Trend. I too do not follow the Higher Time Frame Trend I am only interested in the Trend on the Time Frame I am trading. How ever, I do check a Higher Time Frame before deciding to enter for the simple reason that the 1 min chart is a microscopic view of the Price Action and I want to Zoom Out to see the Bigger Picture, are we in a Bigger Range, is there a larger TF trendline, is there a larger TF pattern, I am looking for things that can influence the outcome of a trade, things that I would never see on the 1 min chart but are immediately visible on a higher time frame. I have found that when trading the 1min chart a look back at the 5min and 1 hr usually provides sufficient information.
Cut your Losers short and let your Winners run.
  • #4,178
  • Feb 26, 2015 6:54am Feb 26, 2015 6:54am
Quoting GodsClown
{quote} Hi dee50, what is the fast MA on your chart?
5 EMA shift 2
Cut your Losers short and let your Winners run.
  • #4,179
  • Feb 26, 2015 7:00am Feb 26, 2015 7:00am
Good day traders, please who can give me a detailed description on how to use top 8 TRENDING INDICATOR


Gday traders,
  • #4,180
  • Feb 26, 2015 9:28am Feb 26, 2015 9:28am
Quoting dee50
{quote} 5 EMA shift 2

Sorry shift 2 for what?
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