School of Pimpology - page 57
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dear Sir FX pimp
Would you please to advise "Base on your system 4hr chart" EU and GU" can i go with Short/sell for these currency.
rgds,Based on the 4hr chart I would be going nowhere near a short GBPUSD or EURUSD just yet for a number of reasons.
First-up the falls we witnessed yesterday were based on a break of support lines with at least 4 contact points. Now we no longer have a support line.
Second, both are above the daily pivot which I have made blue for you to see more clearly.
Third, Crude and Gold are both having a little recovery mission so both pairs you are looking at are more likely to go up than fall.
Fourth, the CCI21 on both charts have either crossed 0.0 or about to.
Finally, the 5CCI is at +100 level.
I don't beleive from the charts that there are going to be any major falls on either of these pairs in the next few days
Thanks Pimp,
That answers my question but one more please, what time frame do i use first to determine wether Gold is in an uptrend or downtrend, 4hr, 1 hr or 15 mins
Thanks for all your help and many best wishes to you
PaulTo determine the trend of Gold and Crude you need to look at the 1hr CCI
If you are playing the Pimpmania 5m Madness strategy you can acertain whether the 60m CCI is above or below bu looking at your 252CCI on the 5m chart.
For longer term, say 60m charts you need to ascertain the 4hr trend and for 4hr plays you need to acertain the daily trend.
Igi asked in the Boiler Room about multiple screens.
I got so frustrated with one screen. I have 2 screens for forex. Then indices and accounts on a laptop. I only got the extra screen and laptop a few weeks ago. They have made a huge difference. Consider them tools to do your job, investments in your millionaire training.
The laptop also is my back up if the power goes. With a 3G stick it is also broadband back up.
FX did a post on this before. Here's how mine looks spread across two screens.
Honest Bill
PS. I have a few cross-pairs in the backgroundHi William,
Whats that indicator that you have in the bottom left hand corner showing all the time frames and wether they are up or down, looks good
Can you post the indicator for me so i can use it too
Thanks in anticipation
Paul
To determine the trend of Gold and Crude you need to look at the 1hr CCI
If you are playing the Pimpmania 5m Madness strategy you can acertain whether the 60m CCI is above or below bu looking at your 252CCI on the 5m chart.
For longer term, say 60m charts you need to ascertain the 4hr trend and for 4hr plays you need to acertain the daily trend.Thanks Pimp,
I am looking at 1 hour term so what would be the 4 hr cci, 84 or 21 and what are the 84 and 21 cci's in anyway in regards to time frames
Thanks
Paul
Thanks Pimp,
I am looking at 1 hour term so what would be the 4 hr cci, 84 or 21 and what are the 84 and 21 cci's in anyway in regards to time frames
Thanks
PaulHi Paul,
Yes for me, swapping timeframes from chart to chart is so monotonous. I like to see the whole picture on one chart.
Therefore if you are wanting to work from a 60m chart only then use the 84 (4hr 21) as your guide to direction, then the 21 for entry.
You could even bit a bit cheeky and have a 5 on there if you wished, which wouls be your 15m 21CCI that you could use as an entry if you missed the original cross of the 21 in the direction of the 84.
The attached chart demontrates this for you. Or should I say, "the attached chart that will follow shortly, just as soon as I retreive my PC that I am about to throw ou the window will demontrate this fo you"
OK so here's what I've done for you. I grabbed an old template (excuse the colours) and have simply added the 21 and 84 to the 60m chart.
84 is direction and 21 is trigger on the cross and I've highlighted these areas with horizontals.
If you feel the need to take it one step further you can add the 5 and get into an established move that has aleady happened by the crossing over of the 21 or 84 or both but let's just assume you missed it. This will at times give you a second chance.
What I am going to do right now is attempt to merge all three of my strategies, the Pimpology, The Pimpmagic 4hr and the Pimpmania 5m Madness onto just ONE template.
I have as many as 50 requests for updates and so on every day so this should ensure that everybody, whatever their prefered method will have the other 2 at hand without having to change templates.
This will be ready today and will be available on a first-come-first-served basis, so if you want it, then email me now. thefxpimp@hotmail.com
Each time frame will act as a standalone system from 1m up to 1 week so there will be something for EVERYONE. Get it now before Pimpmania takes over the world !!!
Hi Paul,
Yes for me, swapping timeframes from chart to chart is so monotonous. I like to see the whole picture on one chart.
Therefore if you are wanting to work from a 60m chart only then use the 84 (4hr 21) as your guide to direction, then the 21 for entry.
You could even bit a bit cheeky and have a 5 on there if you wished, which wouls be your 15m 21CCI that you could use as an entry if you missed the original cross of the 21 in the direction of the 84.
The attached chart demontrates this for you. Or should I say, "the attached chart that will follow shortly, just as soon as I retreive my PC that I am about to throw ou the window will demontrate this fo you"
OK so here's what I've done for you. I grabbed an old template (excuse the colours) and have simply added the 21 and 84 to the 60m chart.
84 is direction and 21 is trigger on the cross and I've highlighted these areas with horizontals.
If you feel the need to take it one step further you can add the 5 and get into an established move that has aleady happened by the crossing over of the 21 or 84 or both but let's just assume you missed it. This will at times give you a second chance.
What I am going to do right now is attempt to merge all three of my strategies, the Pimpology, The Pimpmagic 4hr and the Pimpmania 5m Madness onto just ONE template.
I have as many as 50 requests for updates and so on every day so this should ensure that everybody, whatever their prefered method will have the other 2 at hand without having to change templates.
This will be ready today and will be available on a first-come-first-served basis, so if you want it, then email me now. thefxpimp@hotmail.com
Each time frame will act as a standalone system from 1m up to 1 week so there will be something for EVERYONE. Get it now before Pimpmania takes over the world !!!Pimp,
May the lords of Pips shower you with abundance, thanks a million, i am now getting this
The 5 cci though has me a wee bit confused
21 cci for main entry and 84 for general trend so if 84 below zero and 21 cci crosses up above zero then do not take trade or visa versa
what does the 5 cci do then, has the 100 and minus 100 lines got something to do with entrys etc
sorry if i am being a pain but this has me exicted man
tahnks
Paul
Ahaaaaaaaaa
I was wondering why USDJPY was not taking off with all the other major in there appropriate other directions latelt and I have just discovered why.
The MONTHLY 20ema is holding it back.
Amazing what you learn when you spend hours a day messing about.
I just noticed this whilst putting the finishing touches to the Complete works of the Pimp, aptly entitled - Pimpalicious, featuring 8 standalone systems for scalpers upto position traders who like myself, can never be bothered to mess around between timeframes
It'll be ready within the hour
Pimp,
May the lords of Pips shower you with abundance, thanks a million, i am now getting this
The 5 cci though has me a wee bit confused
21 cci for main entry and 84 for general trend so if 84 below zero and 21 cci crosses up above zero then do not take trade or visa versa
what does the 5 cci do then, has the 100 and minus 100 lines got something to do with entrys etc
sorry if i am being a pain but this has me exicted man
tahnks
PaulPaul, lets say the Japanese started a move whilst you were still sleeping. It was a good one and subsequesntly both 21 & 84 have crossed from positive to negative.
Now under normal crcumstances you'd need to wait for the 21 cross again which could be 2 or 3 days.
What I have rather cunningly done is put this 5CCI on (15m 21CCI) so there is a chance, providing both 21 and 84 are still within the 150 levels is have a little stab at it again.
You'd wait for the 21 to retrace a little, but it won't always re-cross, sometimes it will retrace toward the 0.0 before price goes shooting off again. The 5 WILL retrace over the 0.0 and when it re-crosses, providing you are playing off the 20ema or thereabouts, you should get a run for your money with this trigger.
Let me get the template finished and I will post some charts. A picture is worth 1000 words is it not?
Try and backcheck yourself though in the meantime in order to grasp it.
You can learn something intellectually, but its when you see it from your own observations is when it really starts to click.
UPDATE. I have now completed the template and attach this picture to show what I mean.
You are trading with the trend of the bottom COLOUR CCI, You have missed the first crossover of the top one, You want to get in somewhere.
The 5 at the bottom gets you in after each little retracement.
Now, the CCI5 is very similar to the Heiken Ashi candle, but some people don't use Heiken, whilst people like myself attach a voice alert to it on a weekly or 4hr chart.
Like I have said nemerous times. It's sensitive. Not every cross is a signal, you need to study this and study it hard. You needf to weed out the good from the bad and use trendlines to guide you.
Pimpalicious-Pimp for President
Last post of the night guys.
So exhauseted trying to get this ready for you.
I realize theres a lot of readers of the thread over in Sydney and Auckland and I just wanted to get this to everyone by [thier] morning.
It's all done and I've just been flicking through each of the timeframes from 1m to 1 week and it's the same story everywhere you turn. Practise this strategy diligently and you will not fail to make a success of it.
Yes it may seem a little congested at 1st and if you like flicking from chart to chart plotting and re-plotting and trying to remember where support levels are from such and such a moving average then strip it bare and just use the CCI's and the flipping to and fro technique.
If like many of you, you want an easier life then it's all there for you, with no hassles.
Like the 4hr and the 5m strategy before the bottom COLOUR CCI is always your direction, then use either the cross of the top one to get you in, or if you miss that theres a chance of a 1-2-3 with the 5 thats on each now.
Everything uniform, nice and sensible. Learn one you know then all. Voila and bonne chance.
I have highlighterd just one possible entry with this formula with the horizontal lines on each of the 8 time frames to show that it works on every possible timeframe.
I truly feel this is everything complete now and by far my best work yet.
The that pleaes me most other than being able to share it with the few that have followed the the thread from the beginning is we can now cater for a larger audience and really start to delevol as a group into a multi cultural killing machine.
Your feedback would be gratly appreciated.
I'm off for a beer. Au revoir