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Attachments: The SETUP and the Chuvashova Fork
Exit Attachments

The SETUP and the Chuvashova Fork

Quoting Wab
Anyone watching this one? Another H1 treat ... if you caught it. 156 pips from the E Line. {image} Entry is actually on the H4 E line, so you can still get on board. Pending order, lower down, is at H4 U.

Hi Wab,

Actually I catched that move. Would like to show you something, which may be used as additional tool for take profit.
I use many Bolinger bands as I've seen a trader here called scalpeur doing it. When the price goes to a BB and the band's direction is against the direction of the price, one could consider exiting the trade.
In this case there was a BB 1200 inferior band which simply stayed there waiting for a meeting with the price, waiting to be touched This was my target. After touching it the price immediately retraced. It is a simply idea which you may take into account if you like.
With respect to that short trade which can be seen on the chart, disregard it. It was just there when I printed the chart.

Furthermore I will try to grasp that Chuvashova fork... it still eludes me

Best regards,
Dragos
Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader 4 Admiral Markets example BB.png Size: 119 KB
Here is how the Chuvahova Fork and the SETUP look on the H1 AUDUSD.

It is not always this synchronous but I think there is potential in using both together.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1 Chu.jpg Size: 169 KB


And here again the same AUDUSD in M15 with Chu and SETUP.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15 Chu.jpg Size: 170 KB


The M15 SETUP outlines in yellow is at the same tip a the H1 SETUP above in white lines.

Compare each Chu Fork entry and each SETUP entry at their respective E lines.

Please experiment and share your thoughts. Lots to think about here.

Again I am not an expert on Chuvashova.

I only get by on SETUP when I really stop and think my way through it carefully and that is my pet. So don't look to me for a lot of guidance here.

I will provide all the material that I have on it soon but try it out first, before I bias anybody more that I have done already.

(Please note that what I call a C Fork and a Chuvashova Fork are different things. I have another fork on my drawer of cutlery but I will leave it there for now. Too much already. Maybe later.)
Quoting dragos_
{quote} Hi Wab, Actually I catched that move. Would like to show you something, which may be used as additional tool for take profit. I use many Bolinger bands as I've seen a trader here called scalpeur doing it. When the price goes to a BB and the band's direction is against the direction of the price, one could consider exiting the trade. In this case there was a BB 1200 inferior band which simply stayed there waiting for a meeting with the price, waiting to be touched This was my target. After touching it the price immediately retraced....
All good stuff Dragos.

If you can post a template it will help others look at your ideas.

We all trade our understanding of the market. If it works for you that is a good thing. If we all had the same understanding we would all do the same thing and it would come crashing to a halt.
  • Post #164
  • Quote
  • Edited at 8:23pm May 30, 2017 8:06pm | Edited at 8:23pm
Quoting Wab
{quote} All good stuff Dragos. If you can post a template it will help others look at your ideas. We all trade our understanding of the market. If it works for you that is a good thing. If we all had the same understanding we would all do the same thing and it would come crashing to a halt.
Sure. You can find it attached.
What I posted before was on M15.

If you look now on H1 you will see that inferior bands of BBs are moving away from the price, down. This tells me that on short term the price can should fall down, because it will not have a support from BBs (they will let the price go down, until it is stopped by a band moving in opposite direction).
Then on long term it should touch the upper BB white.
Of course that if BBs will change in time these assumptions should be re-assesed.

Moreover, before looking at H1, one should look at lower timeframes, and analyze the lower moves on those.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY-ProH1.png Size: 111 KB
Attached File
File Type: tpl bbs.tpl   8 KB | 180 downloads
I wont be around tomorrow, so here is my collection of Chuvashova reading. (attached in Word Format and in PDF.)

Lots to think about there.
Attached Files
File Type: docx Chuvashova Fork documnets.docx   199 KB | 3,072 downloads
File Type: pdf Chuvashova Fork documnets.pdf   349 KB | 476 downloads
And here again is a Chu Fork and a M5 SETUP.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5 chu again.jpg Size: 205 KB


Looks like it could be useful?
Quoting dragos_
{quote} Sure. You can find it attached. What I posted before was on M15. If you look now on H1 you will see that inferior bands of BBs are moving away from the price, down. This tells me that on short term the price can should fall down, because it will not have a support from BBs (they will let the price go down, until it is stopped by a band moving in opposite direction). Then on long term it should touch the upper BB white. Of course that if BBs will change in time these assumptions should be re-assesed. Moreover, before looking at H1, one should...
Draw the SETUP and look for E Line, draw the T U Fib. That will further confirm what your indicators tell you. :-)
And then a bearish Chu arrives on M5 ... (after our first M5 SETUP reached the 100% Fib target.)

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5 2nd chu.jpg Size: 210 KB
AUDUSD M5 more Chu forks an SETUPS.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5 more forks and SETUPS.jpg Size: 198 KB


It would appear that there is a close relationship.

Some of the Chu Forks draw attention to the neck line of a H & S pattern quite nicely.

Interesting?
EURCAD Bullish SETUP and Fork. (Not trying to trade a corrective wave this time.)

Note where the Chu Fork entry happens ... in relation to U this time.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH4 bullish SETUP and Fork.jpg Size: 270 KB


I have to go out of town on business today, so this H4 can manage itself while I am gone. I will set my stop ea to trail the stop on fractals.
(I only have a U trade open.)
Quoting Wab
AUDUSD M5 more Chu forks an SETUPS. {image} It would appear that there is a close relationship. Some of the Chu Forks draw attention to the neck line of a H & S pattern quite nicely. Interesting?
Interesting.
I look for the forks now, on top of the SETUP. Still accommodating with this indicator, don't rely to much on it yet but I think there is something potentially useful there. In the docs you provided I have seen a mention about looking for a divergence against an indicator such as Force for example, previously to the forks. What do you think about adding the confirmation of divergence? I think it makes sense, but fried some trades due to the divergence in the past and I don't know what to say about it.
I find divergence on the AO very useful. Many indicators such as stochastic and RSI give divergence too.

Chuvashova is interesting. I hope we can find a reliable way to use it here. If not I can add it to my box full of interesting things that I look through now and then to see if I understand them any better.
H4 EURCAD CT.

Add on position with M5 SETUP and C Fork assistance at teh end of a Counter Trend..

This hasn't broken above the previous H4 HL yet, which would be a good add on level.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM5 H4 CT.jpg Size: 240 KB
EURCAD H4 update.

I added on at the first CT after a U entry.

U entry is up 126 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH4 add ons.jpg Size: 285 KB


Have a look at the Chu Forks on the EURCAD chart as well.


I only caught the U entry (a bit late) on the H4 EURUSD but it is doing well. Up 55 pips or so.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4 U trade.jpg Size: 238 KB


H4 trading is s slow process. When you consider the five bars needed to form a fractal take 20 hours it gives you perspective.
However, if you are certain of your system and not in a hurry it works just fine. I couldn't be near my computer all day yesterday and the H4 chugged away quite nicely.
AUDUSD M5 . Some more Chu Forks.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5 CHU Forks again.jpg Size: 201 KB


Trade from the close above the green to the close below the red. Pips shown in white.

(I didn't add the SETUP at each Fork.)
Quoting Wab
EURCAD H4 update. I added on at the first CT after a U entry. U entry is up 126 pips. {image} Have a look at the Chu Forks on the EURCAD chart as well. I only caught the U entry (a bit late) on the H4 EURUSD but it is doing well. Up 55 pips or so. {image} H4 trading is s slow process. When you consider the five bars needed to form a fractal take 20 hours it gives you perspective. However, if you are certain of your system and not in a hurry it works just fine. I couldn't be near my computer all day yesterday and the H4 chugged away quite nicely....
Man, you're fantastic! I am amazed on how disciplined, focused and successful you can be. Bravo!
  • Post #177
  • Quote
  • Edited at 2:09pm Jun 2, 2017 1:51pm | Edited at 2:09pm
To be honest I am not doing so well as you do. Lost focus these days, overtraded low time frame charts and lost pips (however small size lots so is fine) - did not stick to the rules.
I decided to give it a try to GJ, pair which scared me in the past. Currently I am in a long trade on M1.

Regarding TE line is not clear to me, what you are using it for? I simply don't recall to have seen its purpose.

PS: looking back at what I've wrote, I see quite a negative post: not doing well, lost, scared, not clear, don't recall..

Best regards,
Dragos
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY-ProM1.png Size: 81 KB
Hi Dragos.

Have a look at your GJ chart. The last time the Alligator was wide open it was a down move. You are presently in a corrective move, note how the Alligator is all tangled and the fractals overlapping. I would look for a SETUP in the short direction.

Look at a HTF chart (M5) and you will see this more clearly. The price is moving into the Alligator and you want to trade back in phase with the Alligator after the CT is over. Your HH HL LL LH is also easier to figure out on M5.

The T E line goes from previous T and is extended through the most recent potential E. It is nothing more than a way to draw attention to each potential E level. When price breaks the E line then a reversal is under way. It often breaks the T E line where it is extended first and that can be used as an alert.

Anytime I find I am in the M1 it is usually because I have lost track of the HTF. Always zoom out and always figure out what the HTF is doing before you play in the LTF.

Do not get discouraged, This takes work to master but it does work.

Always check the Alligator it will tell you at a glance where the trend is.

Watch those H4 trades I am doing live, the idea is the same from M1 to Monthly.
I went to M5 just to simplify a bit. (Too many fractals in the M1, though you can still count eh HH HL if you are careful.)

GPDJPY M5:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5 dragos.jpg Size: 203 KB


Here is the S E T of a potential bearish SETUP, unless T moves higher.
The Chu Fork has given a bearish signal so let's see what happens now.

Can you see how the trend from the wide open Alligator has gone into a messy CT?

Our goal is to catch the next down trend.

If you can, wait for a break of E , a U fractal then a pull back to P. Enter at the second break of E with a pending order and one at U as well, if you want to.

It takes time to get used to it all but if you persevere it will get really easy.

When this unfolds as it hopefully should and we get U and P, add your Fib and watch it unfold.

Meantime yo can also check it on M1 and see how the M1 unfolds inside the M5. When you are waiting for an M5 signal and the M1 one is happening ahead of it it is very interesting because you know what is going to happen next.

Have fun.
  • Post #180
  • Quote
  • Edited at 6:13pm Jun 2, 2017 5:36pm | Edited at 6:13pm
Quoting Wab
I went to M5 just to simplify a bit. (Too many fractals in the M1, though you can still count eh HH HL if you are careful.) GPDJPY M5: {image} Here is the S E T of a potential bearish SETUP, unless T moves higher. The Chu Fork has given a bearish signal so let's see what happens now. Can you see how the trend from the wide open Alligator has gone into a messy CT? Our goal is to catch the next down trend. If you can, wait for a break of E , a U fractal then a pull back to P. Enter at the second break of E with a pending order and one at U as well,...
Thank you very much for your support and patience. It really helps.

Regarding the explanation, it is the first time I see SETUP applied this way... As per my understanding, correct me if I am wrong, while until now we discussed SETUP for reversal this is SETUP for continuation. If this is true, then it sheds some light because in some cases I was marking down S E and T and was waiting for a U which did not happen - instead the price had a strong move exceeding the T.

However I should say it seems a bit confusing, because the S of this (potential) continuation move would be the T if waiting for a reversal move, and correspondingly the T of the continuation move would be the U of the reversal move...but we don't know if is U (of reversal) or T (of continuation) until after the fact...Is there an additional clue to know what to wait for, reversal or continuation? UPDATE: HTF, of course
Now after the price made the ups and downs to form the corrective move, it can be noticed visually that the last move is a corrective one, but during the process I. at least. did not know if the price will move up and down or will strongly reverse.
In this case I noticed the impulsive bearish move, and specifically for this reason I was waiting for a reversal by applying the SETUP count for a reversal.

To be said that the SETUP count for reversal makes a lot of sense to me, but the logic of the SETUP for continuation is foggy: the bearish E is higher than the previous Low, while in between S and E there is there is High which is lower than the previous High.. one could say that the bearish E and the previous High are both in No man's land.. only S and T are clear (the lowest and highest point respectively). I think it would be useful to develop more on how this continuation SETUP is counted.

Best regards,
Dragos
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