The Simba Con Man - page 30
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Gbpjpy update
OK,
I want to update what the method says about the current gbpjpy situation and hoew to use multiple time frames for entries.
The charts are self explanatory:
1-H4:We see that there is a projected target to the area 182.00/183.00 and that the slopes are still up,so,we can prepare for what can be the last upleg...PLEASE NOTE the trendline
2-H1:Please note the previous trendline...price touches the trendline and Clahn Slope helps us in seeing that this is a potential rebound..we can just use the snakes and see that the move was in its final stages...so,NOW we have h4,h1 trend alignment.
3-M5:Note the previous Trendline...what was the method telling us?It was confirming what we saw at H1...so,now the way to play this setup(demo,do it always in demo),if you hadn`t entered before,is to wait for long entries on m5 or m1..Use closes below the trendline as stops ,use the AQUA line(in H4) and previous low area as a rebound zone to look for reentries...so,in between the trendline and 1.7600...Look for m1 or m5 entry setups.
Remember ,we got cyclic alignment..up... from h4/h1..so,trying to enter at a low risk spot(hence why m1 or m5 with close stops) can give us a nice rewarding trade,even if we have to retry a couple of times.
Additionally,remember that the h4 trend is "mature"...so,there might be another very good entry tomorrow,if we get a down alignment between h4 and h1...so,that is the plan:today,look for longs...IF THEY HAPPEN...then once closed at a profit,tomorrow look for h4,h1 Down alignment.
OK,
I want to update what the method says about the current gbpjpy situation and hoew to use multiple time frames for entries.
The charts are self explanatory:
1-H4:We see that there is a projected target to the area 182.00/183.00 and that the slopes are still up,so,we can prepare for what can be the last upleg...PLEASE NOTE the trendline
2-H1:Please note the previous trendline...price touches the trendline and Clahn Slope helps us in seeing that this is a potential rebound..we can just use the snakes and see that the move was in its final stages...so,NOW we have h4,h1 trend alignment.
3-M5:Note the previous Trendline...what was the method telling us?It was confirming what we saw at H1...so,now the way to play this setup(demo,do it always in demo),if you hadn`t entered before,is to wait for long entries on m5 or m1..Use closes below the trendline as stops ,use the AQUA line(in H4) and previous low area as a rebound zone to look for reentries...so,in between the trendline and 1.7600...Look for m1 or m5 entry setups.
Remember ,we got cyclic alignment..up... from h4/h1..so,trying to enter at a low risk spot(hence why m1 or m5 with close stops) can give us a nice rewarding trade,even if we have to retry a couple of times.
Additionally,remember that the h4 trend is "mature"...so,there might be another very good entry tomorrow,if we get a down alignment between h4 and h1...so,that is the plan:today,look for longs...IF THEY HAPPEN...then once closed at a profit,tomorrow look for h4,h1 Down alignment.I agree with Simba on every point. The 4 Hour may be so mature that longs may not be feasible anymore. We just have to wait and see how the lower time frames do. I think the most important point made was to wait for price to come to you. We may have a setup soon on the 1/5 ( in a few minutes...the 5 still needs to turn...i prefer 5 and 1 minute alignment for safer enteries.). Dont try to pick bottoms and tops :-) ( i've been guilty of it!).
Best,
cl
I agree with Simba on every point. The 4 Hour may be so mature that longs may not be feasible anymore. We just have to wait and see how the lower time frames do. I think the most important point made was to wait for price to come to you. We may have a setup soon on the 1/5 ( in a few minutes...the 5 still needs to turn...i prefer 5 and 1 minute alignment for safer enteries.). Dont try to pick bottoms and tops :-) ( i've been guilty of it!).
Best,
clHi Clahn,
Nice comments...Why is it that we always appreciate more those that agree with us the most?
Ok,now it is 16:20 CET,10:20 EST...and I believe that the long set up has already lost its power...probably due to the bad retail sales data which has stopped the market in its tracks..with the added indigestion produced by the preliminary Empire MANUFACTURING SURVEY.
I believe that the safest plan NOW is to wait for a few hours...Then,we will have a down alignment between the h4 and h1 timeframes...will try to post a few charts in advance or just as ithe alignment is happening...I am not telling you that there is no more up potential,this is just what I believe and this is why I closed my longs,and I can be wrong....M15 and M30 down,h4 just down now(still not confirmed) and h1 still up,but starting to mature...so,anything can happen,we can have a last up jump,or we can start seeing the beginning of a downmove soon...we need 2 to 12 hours for the market to tip its hand,until then,just happy with taking profits and run
What I am telling you is that until there is a new cycle alignment between the 2 trading timeframes,h4 and h1...it is better to stay away,go to the gym,for a walk,read a book,enjoy the company of your beloved ones....Or all of these if you can
...but don`t trade GBPJPY with this method...just for a few hours.
Hi Clahn,
Nice comments...Why is it that we always appreciate more those that agree with us the most?
Ok,now it is 16:20 CET,10:20 EST...and I believe that the long set up has already lost its power...probably due to the bad retail sales data which has stopped the market in its tracks..with the added indigestion produced by the preliminary Empire MANUFACTURING SURVEY.
I believe that the safest plan NOW is to wait for a few hours...Then,we will have a down alignment between the h4 and h1 timeframes...will try to post a few charts in advance or just as ithe alignment is happening...I am not telling you that there is no more up potential,this is just what I believe and this is why I closed my longs,and I can be wrong....M15 and M30 down,h4 just down now(still not confirmed) and h1 still up,but starting to mature...so,anything can happen,we can have a last up jump,or we can start seeing the beginning of a downmove soon...we need 2 to 12 hours for the market to tip its hand,until then,just happy with taking profits and run
What I am telling you is that until there is a new cycle alignment between the 2 trading timeframes,h4 and h1...it is better to stay away,go to the gym,for a walk,read a book,enjoy the company of your beloved ones....Or all of these if you canI agree. The current cycle alignment is quite the hodge podge. It appears as if we have resistance where the double top was made (178.72 roughly). We have a 4hr cycle starting to tip down, a 1hr that is still up, a 5 min up ( but losing momentum) and a downward 1 min. The 1 min will lead the 5 down, and it will be a few hours before the 1 hr follows suit. Who knows if this is for sure, but it appears so.
Hopefully some of you made some profits. There about 3 very good long setups over the last 2 hours that offered a good R/R.
Best,
cl
tail hookked ... (4 history) testdrive
Here's a trade i did over lunch. I have been having a lot of success using these methods. I am basically trading in the direction of the trend. All three time frames ( 1hr, 5min, and 1 min) line up and are in agreement.
The base was around 159.70. Midpoint occurred at around 160.10 ( as of right now, still could change). Profit target was 160.50. I closed it out at 160.56 ( it sold off quick).
Best,
cl
To those that code i have a question.
Attached are two pictures of the same indicators. The first one is a pic of the indicators i have on my chart ( including MTF versions) that i have not refreshed ( the TF has never changed). The second picture is that of indicators that are refreshed ( same indicators, i just changed time frames and then changed back). Is there any way to code indicators so that at the open of the bar they "refresh" themselves instead of the "painting live" that you see?
I hope that makes sense.
cl
Snake - histogram indicator
Hi Guys,
I changed Snake indicator to be on a separated chart window and with a
histogram form.
As I am not an MT4 programmer can someone take this indicator and to improve it to change bars colors? Green when last/current bar value is superior than previous bar, and red when last/current bar value is less than previous bar.
Many thanks for your help!
Target
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Target
Help on Digital MACD
Hi,
I am posting the digital MACD indicator that I am using.
I want to compare standard coefficients of digital macd with "new" coefficients more adapted to recent market activity
Digital Macd has in his calculation
value1= 0.258....*Close[1] + 0.254*Close[n] and
value2= 0.454....*Close[1] + .2548*Close[n]
so 2 different series
and the MACD value is calculated value1-value2
When I generate a new code with the DF Generator for recent P1 and D1 values I only get 1 serie
my question is how each series is calculated? on what base?...
Thank you for your help
Gerry