School of Pimpology - page 67
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j have installed template, for M15 CCI are egual ad H1?
m15 cci (21 & 84 & 7)
m60 cci(21 & 84 & 5)
exact?
Can you expose use cci?Hello and welcome.
Yes the CCI are the same on 15m cand 60m.
The 21 is the standard CCI for that timeframe so its a 15m CCI on a 15m chart and a 60m CCI on a 60m chart.
However, an 84 is 4 x 21, so it's 4 x the timeframe that it's on.
Therefore and 84 on a 15m chart is the 60m CCI and the 84 on a 60m chart is the 4hr CCI.
The triggers are from the timeframe below, so the 7 on the 15m chart is the 5m 21 (3x5m =15m / 3x7=21)
On the 60m chart, the 5CCI is the 15m 21CCI (or close enough)
Lets assume you are playing the 60m chart.
You need to trade direction of 84, so in this case you are only looking for shorts.
You either play cross of 21 as entry or if 21 is already below 0.0 then you can play cross of 5 trigger.
rememebr not every cross of 5 is a signal. The 84 must not be oversold, and trendlines need to be broken.
The vertical red lines on this chart show the entries off this chart with this method for the couple of weeks.
Hi FX Pimp
Could you please tell me again how to enter and exit using this template? I've read the forum, but there are a lot of entries since the beginning and I'm a bit lost!
Which CCI on which timeframe should I use as a trigger? If I use multitimeframe and I want to use 1h/5m, should I wait for the MAs to be aligned on the 1h chart, and then change to the 5m chart and wait for CCI to go back to level 100 on the other side and to resume the trade when passing 0 and enter?
Each time I enter, that exactly at the wrong time and I don't understand what I'm doing wrong.
Cheers,
DanielDaniel,
good to see you on here.
With regard to your question if you wish to play the 60m and 5m together you do the following.
Slide the 84CCI on the 60m up to hide the 21 and down to hide the 5 just as I have here.
The 21 on the 60m is the same as the 252 on the 5m so no need to display it twice.
Ma's in correct order on both charts are a bonus as you can see on these two it's been pretty easy money all the way down.
This post shows that with every timefram the entry is the same. A bounce off the leading m.a with both top and middle CCI's in your direction with the bottom one used as a trigger as it crosses coupled with the correct colour Heiken Ashi.
Practising this technique could well take 6months to master, so don't expect to know everything in a week or 2. Take your time, double a demo account, keep a diary, backtest every currency over every timefram, double a demo account again, then backtest some more, this time on indices and commodities tne and only then when you start to see the set-ups in real time are you ready
I hate to repeat myself but can I have a show of hands please for anyone else who doesb't understand the entry rules.
If I am not making myself crystel clear then I need to address the situation and be more thorough but it seems I have covered entry almost a dozen time hve I not?
Thanks Bill,
I will give this a try,
I wonder why I am getting a Virus warning on download of WHC MT4,
Regards,
FlashFlash, you using AVG [free] anti-virus? it's a known issue, I googled it the other day. Metaquotes are apparently trying to convince AVG there isn't a virus in metalang.exe
My metatrader appears to work fine even with that message - just click on ignore every time it pops up.
cheers,
spitfire
Morning all. Is it not Friday yet?
Another big day for the Dollar early doors yesterday, which was put to a sudden end when Crude bounced off the weekly 50sma at 105 bucks a barrel and staged a recovery to $110.50 before falling off a little bit under what appears to be some profit taking.
Gold too managed to make some headway, just to ger her faced slapped back down.
Today tells a tale of Dollar strength accross the board on 60m 4hr and dail timeframes, not just versus the majors but also vs Ozzie Kiwi and the Loony.
Now maybe I am a little loony too, and sometimes what I think outweighs what I see and this is one of those occasions.
Crude has managed to remain ABOVE the daily pivot has staged a comeback in excess of 75% of the mornings falls and now has retraced less than half of yesterdays gains.
This gives me an overall impression that this could move up today.
I am certainly not a seller north of the pivot and dispite the 60m 20ema having been broken, miraculously the 60m CCI remains above 0.0.
Sure it needs to clear the 60m 20 at 109.60 before we can look but I'd be very cautious betting on a strong Dollar this morning a break of 109 to the downside would almost mean the end of my theory.
Nothing to say on the currencies really.
Everything set-up with strong dollar in mind and if Crude shatters that then none of the pairs are set-up correctly .
I'll just be watching the Chairman. Long through 109.65 or short through 108.95.
More as it happens
Little update. IF Gold and Crude DO fall, then maybe USDJPY might play ball to the upside if it can break 109.10
Where to enter?
Hello FX Pimp!
I'd like to ask you when to enter long on USD&JPY?
5min chart
1) when downtrend trendline is broken
2) on cci 252 cross (going up - just happend)
3) on cci 63 cross (going up just happend)
4) crude&gold are going down
or wait for all this conditions are in agreement?
Thank you!
Pimp Clarity
Dear Pimp,
I saw on one of your recent posts a question - "Am I making myself clear?" regarding the strategy.
Let me give you a simple answer - YES.
One reason I think we are getting repeat questions is that readers on the thread are trying to jump to total understanding after just looking at a couple of early posts. There is no shortcut to success. If you want to get with the strategy on this thread please spend the time reading the posts - and do so from start to finish. You then need to go back again and repeat the process, this time, understanding each aspect of the chart buildup.
What is amazing to me is that some users on the thread think you can skip the basics and jump straight in to major pip hauls.
The forex market is littered with people who have blown there accounts running before they can even crawl.
Please, and this is not lecture, lets try and spend the time collectively reading, and interpreating the brilliance of the Pimp. Once you have done this the questions that can be asked are far more compelling and relevant and will demonstrate as a reader you have at least sought to do the work yourself.
Speaking personally, Le Pimp is a resource that I haven't found elsewhere and he gives an enormous amount of intelligent and articulate insight to the complexities of the market. Lets use him and support him equally and ensure we do not burn him out by not reading the lessons already provided and trying to jump straight in to the top class of the trading school.
Well done Le Pimp - great shout on eur/chf............yum, pips, my favourite.
Apologies if my post offends it is not intended to. I am just concerned that this is a brilliant thread and we will all benefit in our collective development if we just spend a little more time reading and preparing. Forex is not easy and there are not quick magic bullets to success.
Crystal Rockie
Hello FX Pimp!
I'd like to ask you when to enter long on USD&JPY?
5min chart
1) when downtrend trendline is broken
2) on cci 252 cross (going up - just happend)
3) on cci 63 cross (going up just happend)
4) crude&gold are going down
or wait for all this conditions are in agreement?
Thank you!Yes really you will beed all those conditions in agreement plus a few more
the 4hr 50 in very faint on the 15m chart also needs to go, along with the weekly pivot and the resistance line.
It will be tough
AVG Anti Virus Issue
Thanks Very much Spitfire,
I am still not being able to Open my Custom Indicators on WHC MT4 on my laptop, even after Honest Bill's advice, The arrow is there to open but won't show anything, I wonder if there is anything else I have to do, As I said before my Desktop works fine, Anyone else had similar problem?
Regards,
Flash.
I think we need a pdf file for better understanding .
Eurchf Update
This did the first leg of your prediction and started on the path of the second leg.
I got in at 1.6078 on the 5m with a s/l just above the old support and daily pivot.
Roll on Honolulu hopefully.Well this baby went +40 by this morning creeping down nicely. I moved my s/l to b/e thinking 40 pips is plenty away. But, then what happens?The whole football thing kicks in again......
Euro put up a good fight against USD, but USD kicks CHF about the pitch.....the result is Euro beats Swissie hands down and I get stopped out at break even.
It might be worth a go again, but the stop loss would have to be above today's Pivot.