School of Pimpology - page 15
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
AMEN !!! I've been trading for few years myself and I didn't know as much as I thought I did. I feel like a complete newb. By far this has totally changed my veiws on how to analize the charts and has helped my trading 100%. I appreciate the awakening FX Pimp....
seriously
one of the best threads ive read in a long while
keep it up homie
u basically cover everything there is to know about the technicals of the market.
i been tradin for years now and i decided to start double checkin my own analysis of direction using ur strategy.Thank you people.
Wow FX Pimp your last post is great !
I think I've learned more with it then during my last 2 years on the market.
Please continue your work here ^_^
I hope I will be able to thank you when I retireI must say, I am overwhelmed by the postive response from this thread. Really, it brings a tear to my eye knowing that for some of you guy who never traded before, that this really could be the start of a new chapter in your book of life.
I'm quite a humble person at heart but I am so glad that what I am doing is appreciated by most of you.
If you carry on helping me help you, I will be around forever.
Like a mother goose never leaves her hatchlings, I will always be there trying to navigate this ship through the icebergs.
Is that the Sangiovese kicking in or am i talking absolute crap ???
Big day tomorrow. I feel some rather large retracements coming on.
The USDJPY that was touted is the 1st to fall. Lets see the rest of these sheep follow that shepherd.
Once again guys and girls, thank you so much for helping make this happen.
I'll be in the Boiler Room tomorrow talking nonsense and trying to make a few quid. It's a free Skype chat set-up by a fellow reader Cako. Come along from 7 a.m U.K time and we'll get the wallets bulging before breakfast.
My Trades Today
Evening everybody,
Well today was a real quiet one really, but I did manage to get a couple of trades off.
First up this morning was a short on cable. Good for 39 pips. And finally this afternoon the short on USDJPY came good for 25 pips. Both were effectively 1-2-3 trades based off the 5 min. The targets were small as there was no confirmation from either oil or gold, and the other pairs, esp. USDCHF and EURUSD were all over the place.
I took the 2 shorts based on Pimps strategy as my main indicator, a 30min 12 period LR was in agreement.
Charts attached.
G-Man
I must say, I am overwhelmed by the postive response from this thread. Really, it brings a tear to my eye knowing that for some of you guy who never traded before, that this really could be the start of a new chapter in your book of life.
Once again guys and girls, thank you so much for helping make this happen.
I'll be in the Boiler Room tomorrow talking nonsense and trying to make a few quid. It's a free Skype chat set-up by a fellow reader Cako. Come along from 7 a.m U.K time and we'll get the wallets bulging before breakfast.Nice name for public room
joke
Boiler Room (2000)
If anyone still trying to figure out the tpl, attached is the template -set as FxPimp has mentioned on the first posts of this thread. (you may want to change the colors and add a pivot indicator tho...)
Hi brok.
Dont think the template is quite right as outlined by fx pimp.
on the template you seem to have the following:
1Hr: 1280 sma when you should have a 1200sma , and in the other time frames both 200 sma and 200 ema, you only need the 200sma. in fact i dont think the 200sma or ema is mentioned in the 5min time frame. Pls cross check just in case i got it wrong.
rocwell
Hi brok.
Dont think the template is quite right as outlined by fx pimp.
on the template you seem to have the following:
1Hr: 1280 sma when you should have a 1200sma , and in the other time frames both 200 sma and 200 ema, you only need the 200sma. in fact i dont think the 200sma or ema is mentioned in the 5min time frame. Pls cross check just in case i got it wrong.
rocwellIf you are having difficulty settiny it up, then send me an email. I will forward the latest version.
Pimpology Report
I may have been a little optimistic this time yesterday with the retracement calls.
Only a few hours early mind you. USDJPY did eventually drop as did USDCHF, and after a little scare EURUSD did manage to recover a little bit late on.
The dark horse, GBPUSD was up to his old tricks, demomstrating that the correlation thing is seldom perfect and sometimes not very good at all.
There was a time when I would have take that trade, but not now.
I have lost too much playing the odd one out just to realise -30 pips later that he wasn't that odd in the first place, just a little delayed.
Anyway on to today, it's Friday, the institutions may possibly be taking some profit off the table with some retracements being the plays.
It certainly looks that way with our two fearless leaders looking like some upside will prevail for the short-term.
Both have crossed the pivot, so that's a start. The 84CCI's from the 15m chart (21cci on the 60m chart) are pointing up so it looks quite promising.
As mentioned before the move on the Yen has begun already, but the Euro would be well worth a go long if it pulls back to the 15m 20 at 156.80, which has now crossed the 60m 20.
The Swissie also. She has quite a bit of red on the 15m chart but a pullback to 1.0360,with a couple of green Heikens might pave the way for further shorting opportunities.
Don't forget we need the fat controller and el presidente to continue moving up to justify these plays.
Have a great morning.
Fellow Demons
Calling all fellow Demons.
We liked the retracements to start this morning an once again, I was left standing on the sidelines watching GBPUSD drop whilst eagerly watching USDJPY do nothing but give me the run around.
Very well traded by G-Man. Great snap-shots and well timed on the cable.
You must have been going grey after 2 hours in the Yen
Whilst I am here I am going to show you how I like to play the reversal.
Now, to begin with the pair must have had a big run. Easily identified on the 15m chart by the distance between the 60m 20&50 and the 4hr 20&50 PLUS the CCI336.
To go one better look on the 60m chart. You then see the distance between the 20&50 from the 60m 4hr AND daily.
In the case of the JPY its quite large.
This is what I am looking for from my chart when trying to catch a reversal early on, with minimum risk.
I have numbered the stages so they should be relativly easy to follow.
Step 1 - This is where my price action and 7ema fall through my 15m 20ema , try to bounce back up but find the 20 now as resistance.
First indication something in the pot is brewing.
Step 2. - The 15m 20ema crosses the 15m 50sma. Remeber that these two now are in correct order to act as the double-edged sword as resistance.
Step 3. - Price tests this new found protection, but fails to break. Notice 7ema always remains below.
Step 4. - Price action AND 7ema eventually break the 60m 20ema. A good time to start taking a closer look at the 5m chart
Step 5. - 15m 20&50 starting to cross 60m 20ema. Price retraces and now finds 3 layers of protection where there were just 2 a couple of hours previous. Notice again the 7 always stays below the resistance m.a's, which are now all starting to head down.
This baby is gonna go !
Step 6. - Once in the trade the 60m 20 crosses the 50 confirming the downward move.
Notice the 84 CCI is down. The 336 is up. On these occasions it is possible to play to the 0,0 line or thereabouts on the 336..
Does that clear a few things up ?
First Trade Today
Excellent early analysis Pimp.
Here is my first trade of the day. Long on EURUSD. Good for 25 pips. A bit earlier than my usual start but set up looked good. Fortune favours the brave!!!
G-Man
Oh man missed some great moves the Euro was great but managed to grab 20 form the swiss - watching GU closely now...
Thanks Pimp