Trading is as simple as ABCD | Page 298 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Gartley/bat/crab/butterfly/abcd/three Drives Pattern Indicator Help 50 replies

Abcd fibo retracement trading journal 109 replies

ABCD - My way 122 replies

ABCD Fibo 82 replies

abcd patterns 1 reply

Attachments: Trading is as simple as ABCD
Exit Attachments

Trading is as simple as ABCD

  • #5,941
  • May 12, 2015 8:30am May 12, 2015 8:30am
Quoting bapakjason
Curious what type of rules you all have related to trading around the news? Ex: minutes before or after? Non-related pairs are ok or not? Etc. thanks- jason

Well i'm quite keen to trade up to about 10 mins before news release as quite often we get some strength or weakness related to the forthcoming news release, then wait for about 20 mins for the price action to calm down a bit and just trade the strongest mover, if its been a high differential news release you will get a strong move one way or the other, but be careful never assume its going to be in the direction of the initial news spike as many times the big boys use the spike to feed them the liquidity to trade the other way. Just go with the market and don't try to work out why??

Just follow the money but don't try to fathom out the reason behind it...

Just taken the 2nd CCI signal on this top trender EURAUD and holding to see what I get from it...

Attached Image (click to enlarge)
Click to Enlarge Name: euraudm1.png Size: 66 KB


Might add if it gives me a nice pullback....
Feel the Fear and do it anyway!!!
  • #5,942
  • May 12, 2015 8:45am May 12, 2015 8:45am
Heres what we're after every market open, 120HMA changes colour and jump on the first 2 CCI signals, Dad's good old one two, sucker punch...

Attached Image (click to enlarge)
Click to Enlarge Name: euraudm1.png Size: 69 KB


Didn't catch the first one but jumped on the 2nd...
Feel the Fear and do it anyway!!!
  • #5,943
  • May 12, 2015 8:53am May 12, 2015 8:53am
Quoting clivepackham
Heres what we're after every market open, 120HMA changes colour and jump on the first 2 CCI signals, Dad's good old one two, sucker punch... {image} Didn't catch the first one but jumped on the 2nd...
Lovely stuff and both were into 25 levels and into previous swing highs (from the downtrend side of today's PA when the MA was red... Perfect.
Today's zone = Tomorrow's opportunity!
  • #5,944
  • May 12, 2015 8:59am May 12, 2015 8:59am
Quoting clivepackham
Heres what we're after every market open, 120HMA changes colour and jump on the first 2 CCI signals, Dad's good old one two, sucker punch... {image} Didn't catch the first one but jumped on the 2nd...
nice one, but first CCI signal might not get the attention as EA was probably not top4 reading in TTindy at that time
  • #5,945
  • May 12, 2015 9:23am May 12, 2015 9:23am
Quoting henryloving
{quote} nice one, but first CCI signal might not get the attention as EA was probably not top4 reading in TTindy at that time
Yep I hear what you're saying but is that a bad thing I'm wandering??? The first one looks good now but quite often those "first ones" don't actually work because the down trend is still in place however once the slope is sufficient to get it top of the TTindy then the reversal is in full swing and cleared itself above the fighting and running cleanly, somewhere some one said the 2nd CCI signal is cleaner and the better signal to take..

probably due to the fact that the sellers of the previous move down have decided enough is enough and banked their profits causing a smooth move away from the second CCI...

So maybe we are better off waiting for it to come to the top 4 of the TTindy as its a safer bet???

Better to get the middle of the trend rather than the start which can sometimes be a bit messy...

The other option if we want the first CCI is to listen out for the 120HMA reversal alert and whenever you hear it have a look to see if its a reversal worth taking. I want to see the first move across the 120HMA as a very clear move of say 25 pips minimium thats your AB leg then a nice pullback and a clean CCI signal..

Any argy-bargy just leave it alone ...
Feel the Fear and do it anyway!!!
  • #5,946
  • May 12, 2015 9:28am May 12, 2015 9:28am
Quoting clivepackham
{quote} Yep I hear what you're saying but is that a bad thing I'm wandering??? The first one looks good now but quite often those "first ones" don't actually work because the down trend is still in place however once the slope is sufficient to get it top of the TTindy then the reversal is in full swing and cleared itself above the fighting and running cleanly, somewhere some one said the 2nd CCI signal is cleaner and the better signal to take.. probably due to the fact that the sellers of the previous move down have decided enough is enough and...
It would be good to have a alarm for HMA slope change. Maybe we should limit the pairs to trade and have tile window to watch all these pairs. need coder/programmer to weigh in if this idea can convince them
  • #5,947
  • May 12, 2015 9:31am May 12, 2015 9:31am
This is the sort of picture you want to see when trading reversals very clear move up above the 120HMA then a nice smooth pullback and a very clean CCI signal...

Lock this image in your head when trading these reversal moves its picture perfect...

Attached Image (click to enlarge)
Click to Enlarge Name: picture perfect reversal signal.png Size: 59 KB


Won't always work of course but when they do they will be nice...
Feel the Fear and do it anyway!!!
  • #5,948
  • May 12, 2015 9:34am May 12, 2015 9:34am
Quoting clivepackham
{quote} Yep I hear what you're saying but is that a bad thing I'm wandering??? The first one looks good now but quite often those "first ones" don't actually work because the down trend is still in place however once the slope is sufficient to get it top of the TTindy then the reversal is in full swing and cleared itself above the fighting and running cleanly, somewhere some one said the 2nd CCI signal is cleaner and the better signal to take.. probably due to the fact that the sellers of the previous move down have decided enough is enough and...
The only way to trade the first CCI moves without the TT indy (which I don't personally use anyway) is to trade pairs that have had a MA color change after a clean move and then trade it based on price structure. This is even more supported when it happens around a market open as was the case on EA. We broke two previous swing highs, putting in a HH and came back down on that first CCI dip into those lower swing highs (and the 75 level) seeing resistance now as support. I would take that around market opens any day with or without it being in the top 4. Now when entry 2 comes along you would only want to add if it's now a top 4 trender so you know your not getting into an already fading trend (since 1 minute trends are so short and fickle at times...).

Just my 2 cents when it comes to those first CCI dips not supported by the TT indi... there are other ways to filter these and to only take the A+ ones.
Today's zone = Tomorrow's opportunity!
  • #5,949
  • May 12, 2015 10:04am May 12, 2015 10:04am
Quoting pres78
{quote} The only way to trade the first CCI moves without the TT indy (which I don't personally use anyway) is to trade pairs that have had a MA color change after a clean move and then trade it based on price structure. This is even more supported when it happens around a market open as was the case on EA. We broke two previous swing highs, putting in a HH and came back down on that first CCI dip into those lower swing highs (and the 75 level) seeing resistance now as support. I would take that around market opens any day with or without it being...

Yep great stuff as usual Pres78 I'm always looking for market structure to confirm my entries prefer to buy DB's or HL's and sell DT's and LH's etc..and of course CCI signals at key levels is at the core of my entry decisions, break and retests being my favourite entry by a mile...

As for the TTindy not signaling in time for the first CCI , thats probably true but I have found it still does catch some especially the ones with a good AB move breaking the previous trend eg taking out the last LH in a downtrend. These are of course the better reversals as they have some ooomph behind them demonstrated by the TTindy high reading..

Anyway bottom line is we're not going to catch every trade and we're not going to catch every reversal so I'm quite happy with the stronger reversals those designated by getting ranked in the top 4 of the ttindy...

Mind you there is a strong argument for just trading the top 8 daily ranging pairs like GBP pairs, EURAUD, EURJPY and maybe EURUSD but not my favourite and when ever you get a slope change alert from the 120HMA have a look to see if the market structure backs up the slope alert, if it does go for it...buying/selling the first CCI signal back with the reversal.. Every chance we might be buying the daily bottom or selling the daily top..

Heres the top 10 highest ranging pairs in last 5 days..with thier ranges next to them..

Attached Image


As you can see GBP pairs fair pretty high with our friends from down under GBPNZD and GBPAUD heading em up and of course our fiery friend the Japenese dragon a close 3rd.

Might be worth trying for a while and just trading the initial reversals getting two trades to stick early and close out when the 120HMA chnges slopes again...

Just a thought...

I've attached the ADR indy if anyone wants it..
Attached File(s)
File Type: mq4 ADR Table v2.mq4   6 KB | 347 downloads
Feel the Fear and do it anyway!!!
  • #5,950
  • May 12, 2015 10:21am May 12, 2015 10:21am
Whilst we're on the subject of catching these reversals, have a look at this great reversal setup on EURAUD...

I'd traded the first reversal up and banked 28 pips as it closed across the 120HMA but why didn't I take these lovely sell signals???

Attached Image (click to enlarge)
Click to Enlarge Name: anotehr great reversal setup.png Size: 72 KB


I think I've got to start concentrating on these reversals of the 120HMA and start looking to take the first couple of CCI's then hold on the 120HMA..

Its just got to be the way to go fits all types of days too, strong trenders and rangy days...

I think its fair to say CCI signals below the 120HMA are good to go and above too as demonstrated by this euraud chart..

I can feel some rules coming on....

Ughhhh!! What am I thinking.....
Feel the Fear and do it anyway!!!
  • #5,951
  • May 12, 2015 10:23am May 12, 2015 10:23am
Quoting henryloving
{quote} nice one, but first CCI signal might not get the attention as EA was probably not top4 reading in TTindy at that time
In order to catch the first signals, I have my set up like this:

I open the TTindy with the top 8 charts, so I have 8 charts painted red or green.

Then I minimise these charts and I open 8 new charts, with the pairs that have the max. ADR (for me: EUR/CAD, EUR/JPY, EUR/AUD, EUR/NZD and GBP/CAD, GBP/JPY, EUR/AUD GBP/NZD).

This way I am able to monitor their behavior constantly through the day. (When a pair makes is to top 8, the color of the chart changes from white to green or red.)

A lot of times, the pairs that are not showed in the top 8, are the first ones to move with greater speed in the opposite direction, when the conditions in the market change. If, for example, EUR is weak and EUR/CAD is not falling as fast as EUR/NZD or not falling at all (CAD is also weak); when EUR starts to move up, then EUR/CAD will rise much faster than EUR/NZD and it may take some time for EUR/CAD to show green in the top 8.

I may miss trades in other pairs, but I prefer to catch, for example, a 60 pip move on EUR/CAD than a 40pip move of EUR/USD or USD/CAD. And I also don't get confused with the charts changing every minute.

I choose to consentrate on 8 pairs that move for a lot of pips every day and I have relatively low spreads from my broker.

Now, I am only looking for a EA or Script to place my orders quickly with money management. I tried to use Clive's, but they don't work on my real account. I read somewhere that a real MT4 account does not accept EAs with SL and TP. I tried to use Clive's without SL and TP, but still no luck. If someone can help I would appreciate it.


As this is my first post on FF (although I am watching you for a long time now), I would like to thank all of you (especially Clive and Divergence) 'cause you opened my eyes to a lot of things.

The Fly.
  • #5,952
  • May 12, 2015 10:29am May 12, 2015 10:29am
Well looks like EURAUD is setting itself up for a possible buy setup...

Attached Image (click to enlarge)
Click to Enlarge Name: euraudm1.png Size: 72 KB


Whoose for buying the next CCI buy signal???
Feel the Fear and do it anyway!!!
  • #5,953
  • May 12, 2015 10:41am May 12, 2015 10:41am
Quoting clivepackham
{quote} Yep great stuff as usual Pres78 I'm always looking for market structure to confirm my entries prefer to buy DB's or HL's and sell DT's and LH's etc..and of course CCI signals at key levels is at the core of my entry decisions, break and retests being my favourite entry by a mile... As for the TTindy not signaling in time for the first CCI , thats probably true but I have found it still does catch some especially the ones with a good AB move breaking the previous trend eg taking out the last LH in a downtrend. These are of course the better...
That's almost my trade list... Add in EURUSD (just because) and oil and that list pretty much sums up my open charts for that very reason. They are all pairs that move well.

Price structure is key. Also if price dips too far below the 120 MA even if it doesn't change color I am wary on taking it as it could be signally a change in trend is coming. Sometimes it is just news spikes but once price gets below the MA without a color change I sit on my hands and wait. The best CCI dips are those where price stays firmly above the MA. IMHO.
Today's zone = Tomorrow's opportunity!
  • #5,954
  • May 12, 2015 10:44am May 12, 2015 10:44am
Quoting clivepackham
Whilst we're on the subject of catching these reversals, have a look at this great reversal setup on EURAUD... I'd traded the first reversal up and banked 28 pips as it closed across the 120HMA but why didn't I take these lovely sell signals??? {image} I think I've got to start concentrating on these reversals of the 120HMA and start looking to take the first couple of CCI's then hold on the 120HMA.. Its just got to be the way to go fits all types of days too, strong trenders and rangy days... I think its fair to say CCI signals below the 120HMA...
I traded that all the way down and just got out as we are above the 120. Love price strcuture all the way down with some great entries (even some nice CCI divergences in play).
Today's zone = Tomorrow's opportunity!
  • #5,955
  • May 12, 2015 10:56am May 12, 2015 10:56am
Quoting clivepackham
Well looks like EURAUD is setting itself up for a possible buy setup... {image} Whoose for buying the next CCI buy signal???
London boys done for the day and price structure sucks right now so that's it for me till the AM.
Today's zone = Tomorrow's opportunity!
  • #5,956
  • May 12, 2015 11:02am May 12, 2015 11:02am
Quoting TheFly
{quote} In order to catch the first signals, I have my set up like this: I open the TTindy with the top 8 charts, so I have 8 charts painted red or green. Then I minimise these charts and I open 8 new charts, with the pairs that have the max. ADR (for me: EUR/CAD, EUR/JPY, EUR/AUD, EUR/NZD and GBP/CAD, GBP/JPY, EUR/AUD GBP/NZD). This way I am able to monitor their behavior constantly through the day. (When a pair makes is to top 8, the color of the chart changes from white to green or red.) A lot of times, the pairs that are not showed in the top...
Hi Fly....

Ohh, that rhymes ..

So you're concentrating on the turns on the biggest movers rather than the TTindy pairs?? Yep makes sense and you're getting 30 , 40 pip winners which again is a very good thing to have happen, all these orphans are all very well but a bit of a handful to keep grabbing all the time... Much prefer to hold on the 120HMA for a bit longer...

Not too clear how you're using the TTindy or are you saying when one of your bigger movers appears in the top 8 of the TTindy and lights up accordingly, you're trading it??? basically its trending in top 8 so worth you looking at it??

Who's your broker by the way with the low spreads???

good to hear you're making it work one way or the other...
Feel the Fear and do it anyway!!!
  • #5,957
  • May 12, 2015 11:19am May 12, 2015 11:19am
Quoting pres78
{quote} I traded that all the way down and just got out as we are above the 120. Love price strcuture all the way down with some great entries (even some nice CCI divergences in play).
Awesome trading Pres78

Great to hear you're having success too, thought I was almost on my own but maybe theres a few more lurkers having some success, if you are speak up and tell us how you're doing..

So you're not using the TTindy but similar to The Fly you're sticking to biggest rangers and trading the turns??? Holding on the 120HMA too I guess?? So what sort of trade size are your winners on average??

How are you deciding on your exit???

Nice to have you along keep posting , its nice to have some company...

I'm not so sure about the London Boys going home and the price action disappearing though as I have found some nice trades around this time when the new Yorkers come back from lunch I wager..

Took that EURAUD reversal in the end bought the double bottom as a bit of divergence and nice CCI signal leading me in nicely...
Attached Image (click to enlarge)
Click to Enlarge Name: euraudm1.png Size: 54 KB
Feel the Fear and do it anyway!!!
  • #5,958
  • May 12, 2015 11:35am May 12, 2015 11:35am
Quoting clivepackham
{quote} Awesome trading Pres78 Great to hear you're having success too, thought I was almost on my own but maybe theres a few more lurkers having some success, if you are speak up and tell us how you're doing.. So you're not using the TTindy but similar to The Fly you're sticking to biggest rangers and trading the turns??? Holding on the 120HMA too I guess?? So what sort of trade size are your winners on average?? How are you deciding on your exit??? Nice to have you along keep posting , its nice to have some company... I'm not so sure...
Nice double bottom and divergence but below a red MA so for me that's a real no go. I am a rules based trader in all methods I trade. I am still building a trading plan for this system as I am still tinkering with a few things in the background. I trade high ADR pairs and price structure. I also use tick volume in my trading for decusuons both in this method and also in my main method (but that's all far too complex to share here).

My main deciding factors for this method are based on simple price action / structure, the MA and the CCI. That's it. I don't use any sort of currency strength meter as I knew saw the need. I watch for correlation in moves between pairs similar to Vantage to tell me a pair is more likely to move than another based on overall currency strength or weakness to an extent but it is still not a main factor.

Exits are still being played with to find the best way to get out without giving too much back or getting out too early. SL vary depending on price strcuture and my risk/lot size is based on that SL placement. I will NOT take a trade that I don't think I can at least get 2:1 and still use mainly my close half at 1:1, leave the second half and BE at 2:1 and trail. On days like today when pairs are moving nice like EA has getting 3,4 and 5 to 1 is not too tough especially if you get in right after the MA color change with good price structure in place.

Just trade and trail at the HH, HL pattern until it breaks (for buys) and takes you out, MA color change LL, HL into previous swing enter and repeat...

You need to have rock solid rules and not allow yourself to faulter or sway from them. That is the only way to find true success in this business. If you plan says CCI dip cannot see more than 2 bars close below the MA then you follow that religously. Same with risk-reward, SL, TP, trailing etc...
Today's zone = Tomorrow's opportunity!
  • #5,959
  • May 12, 2015 11:54am May 12, 2015 11:54am
Let me offer another little tidbit of an idea I am playing with at the moment which WILL become part of my trade plan for this method when it is done...

Take a look at your CCI 8. Take a look at the best entries, the ones that if you took an entry would paid well as they had a nice move after the CCI retrace. Most of the best AAA+ entries all spent very little time on the retrace side of 0. Some of the absolute best entries come off 3-4 bars of CCI retrace with one or two spiking the +100 or -100 before heading back above 0.

Now look at what EURAUD just did... moved back towards the 120 on a CCI 8 retrace that stayed and has stayed below 0 for an extended period and here we are back below the 120 moving towards the days low.

Just some food for thought. Ok I'm done hogging the thread... I shall revert back into the shadows.
Today's zone = Tomorrow's opportunity!
  • #5,960
  • May 12, 2015 12:10pm May 12, 2015 12:10pm
Quoting clivepackham
{quote} Hi Fly.... Ohh, that rhymes .. So you're concentrating on the turns on the biggest movers rather than the TTindy pairs?? Yep makes sense and you're getting 30 , 40 pip winners which again is a very good thing to have happen, all these orphans are all very well but a bit of a handful to keep grabbing all the time... Much prefer to hold on the 120HMA for a bit longer... Not too clear how you're using the TTindy or are you saying when one of your bigger movers appears in the top 8 of the TTindy and lights up accordingly, you're trading it???...
Hi Clive...

Depending on the move, if for example I catch a steap move up, I tend to hold to my trade and I wait to see if my pair shows on the top 8. This shows power, so intent to keep my SL at +10, or under previous LH until I am stopped out.

I use mainly price action and I am taking these risks on trades near LO and NYO. If, - at these times - in a down trend I see that price is failing to make a LL and it makes a LH, I'll get ready to take the next LH up (watching the CCI) with a tight SL.


The EURAUD you mentioned earlier, goes back up after failing to make a LL and the chart is now green. If we where around LO or NYO I would try to catch an ABCD move (possibly add at C a second trade and moving the stops under C). Also, about the same time almost all the pairs I mentioned made the same move - 6 of them are now green on my screen.

I also use TTindy for CD moves, If I missed the early trades or I hesitated to take.

My broker is Price Markets (used to trade with FXCM). I open an account with them very recenlty, so I cannot say much for them about fund withdraws or manipulation (they say on their site that they are Market Makers). After a few months trading with them, I can tell more. Check their spreads with a demo account. I am open to suggestions if we can start a broker discussion, as I am not trading for a long time.

The Fly.
4 traders viewing now