3min wave got a golden spine now - have drawn in a speedline to what looks like end of wave 3 in this first move down - lines up with all the down spikes and houses the tiny wave 2 near the top. All a bit of guess work until we get a clear pivot to work with.
What I am looking for then is both time and price to meet at the 85.4% line somewhere on the right. Rather than trying to forecast when, the concept I am playing with is the time is right when price meets that line. If we get a rejection and end of wave 2, we can look at where price is in relation to the bolly study etc. Might all be nonsence but happy to play. Of particluar interest is how much we need to give away from the top to get a tighter entry with stop - in theory, on formation of the 3rd wave, we get a stop just above the 85.4% line/pivot high which could be less than 10 pips or so, to get a 3rd wave or C wave. Is this better than guessing the first turn - dont know, hence the play here.
Lots of arguing again on other thread - hope this one sticks!
Last edited by Clivewaverider; 06-07-2012 at 11:04 AM.
Wow, I just realized that this thread exists. I like it here, much more relaxed so if you dont mind I think I'll join ya'll in here. I was ready to leave again to go hide in my cave from the craziness.
Heheh... Cody, I guess now I've got a bit too much time in my hands. I am always up for a bit of combat with those who think they hold the standard of right or wrong... Pardon me for my belligerent tendency over there. As I always said, consensus is suffocating, disagreements are good for the brains. But some take it or perhaps themselves really a bit too seriously!
i like that one , actually i use it on fibo Fan , one of my important tools to trade if you try on hourly or daily time frame .
Originally Posted by Clivewaverider
3min wave got a golden spine now - have drawn in a speedline to what looks like end of wave 3 in this first move down - lines up with all the down spikes and houses the tiny wave 2 near the top. All a bit of guess work until we get a clear pivot to work with.
What I am looking for then is both time and price to meet at the 85.4% line somewhere on the right. Rather than trying to forecast when, the concept I am playing with is the time is right when price meets that line. If we get a rejection and end of wave 2, we can look at where price is in relation to the bolly study etc. Might all be nonsence but happy to play. Of particluar interest is how much we need to give away from the top to get a tighter entry with stop - in theory, on formation of the 3rd wave, we get a stop just above the 85.4% line/pivot high which could be less than 10 pips or so, to get a 3rd wave or C wave. Is this better than guessing the first turn - dont know, hence the play here.
Lots of arguing again on other thread - hope this one sticks!
Heheh... Cody, I guess now I've got a bit too much time in my hands. I am always up for a bit of combat with those who think they hold the standard of right or wrong... Pardon me for my belligerent tendency over there. As I always said, consensus is suffocating, disagreements are good for the brains. But some take it or perhaps themselves really a bit too seriously!
Oops.... I shall really hide back to my cave.
some people just tend to overthink the FX market. I have found over the years this to be especially true of the fundamental traders who cant bend the market to fit the news or their view of the world so they tend to hold a bias. These are the people Vegas caters to.
Wow, I just realized that this thread exists. I like it here, much more relaxed so if you dont mind I think I'll join ya'll in here. I was ready to leave again to go hide in my cave from the craziness.
I think we are hiding here. This thread got set up when AV1 (who has since disappeared) thought aloud that there was too much 'stuff' on the other thread. The idea was just to focus on EURUSD and nothing else. Thus far, we have also been keeping it quite technical with supporting charts/theory/strategy rather than "I am long here....." which tends to fill up the forum pages but not necessarily help - well not me anyways!
Heheh... Cody, I guess now I've got a bit too much time in my hands. I am always up for a bit of combat with those who think they hold the standard of right or wrong... Pardon me for my belligerent tendency over there. As I always said, consensus is suffocating, disagreements are good for the brains. But some take it or perhaps themselves really a bit too seriously!
Oops.... I shall really hide back to my cave.
You stay here Franosh and clip my wings when you want - no need to hide. It would be good to see Stanchiam rehouse here too me thinks.
I think we are hiding here. This thread got set up when AV1 (who has since disappeared) thought aloud that there was too much 'stuff' on the other thread. The idea was just to focus on EURUSD and nothing else. Thus far, we have also been keeping it quite technical with supporting charts/theory/strategy rather than "I am long here....." which tends to fill up the forum pages but not necessarily help - well not me anyways!
Good to see you here CodyB.
you can try and drop hints in other places to try and help but thats all you can do. A typical forum has many that read to respond but never see the words posted. You cannot help those that already have the answers no matter how hard you try.
Thanks for the welcomes
how do you know where to start with the fan? At what point? a swing low?
I am using speed line study rather than fib fan but I imagine we are doing the same thing. You start at the pivot high or low that is either wave 1 or A wave and drag the line to the end of that A wave or wave 1 - however, you can do this intra wave to provide an earlier fan which should hold the whole unfolding wave and provide a stop loss line. So in a wave of 5 (whether wave 1/3/5 or an A/C waves) you can draw the fan through the pivot to end of minuetter wave 1, and it should hold rest of wave 1. If it doesn't, assumption is you are too early drawing. The more touches you get early on, I am assuming the better S&R it will provide later. I have stripped out all but the 85.4% as this seems to capture wave 2 repetitively. I'll post here as I work it.
i will give an example on daily chart ad of course you can apply on 4 hours , 1 hour and so on,
but if the big trend is up like i euro in bleu i respect the opposite fan in 50 and 78.6 only like in red in euro
in gbp was range so i do 50 and 78.6 for both .
it will be amazing if you have a strong cross from up fan and low fan fibo
My speedlines are the same as your Fib Fan - just called different. I have the same studies as you but for some reason never look at them like you - will be now! Thanks Mozi32
I know there are lot of talks of Bollinger bands recently because of rcopadilla's multi-BB charts. And there are websites or even books out there insist that BB works if one knows how to use it. Perhaps I am just more used to be the contrarian and would have to say that BB is perhaps one of the worst indicators popularised out there. It is a 20 (or any other number) SMA (or EMA if one chosen) with a designated number of standard deviation from the MA. Fundamentally it's a Gaussian concept. I didn't keep or collect such sources, but there are some extensive tests showing that BB in the long run fails because price movements are not Gaussian.
I hope you meant it when you said you like disagreement, because i disagree.
I only use three indicators to trade - 1. trendy cloud, which I've shown and demonstrated time and again, 2. Vibes, which is some sort of bollinger band, but much more advanced, but very similiar in concept, and 3. psycho - which will not be discussed at all.
I name them myself, so there's no need to google for them. Vibes is an EA, that means it can trade on its own, but I'm still waiting for the cloud services of dukascopy to go live before it can be fully automated and just leave and forget. rcop may not be getting there yet, but he's near. I've backtested the strategy to work for the past 5 years, generating an average of 150 pips per month, with only 1 loss week. It's only fully developed a few months ago. Unfortunately, it only works for EURUSD pair, failing miserably for USDJPY.
I know the drop is abnormal, because Vibes disagree a few times when it drop, when it should rise. This i classify as "abnormal", and I don't make much, or even take losses, under abnormal conditions.
BB - One of the worst indicators??? Have you even tested it? Don't trust what other claimed, there are treasures hiding somewhere there... that's all I have to say, of course
A beautiful mind is much more important than a fat pocket.
I hope you meant it when you said you like disagreement, because i disagree.
I only use three indicators to trade - 1. trendy cloud, which I've shown and demonstrated time and again, 2. Vibes, which is some sort of bollinger band, but much more advanced, but very similiar in concept, and 3. psycho - which will not be discussed at all.
I name them myself, so there's no need to google for them. Vibes is an EA, that means it can trade on its own, but I'm still waiting for the cloud services of dukascopy to go live before it can be fully automated and just leave and forget. rcop may not be getting there yet, but he's near. I've backtested the strategy to work for the past 5 years, generating an average of 150 pips per month, with only 1 loss week. It's only fully developed a few months ago. Unfortunately, it only works for EURUSD pair, failing miserably for USDJPY.
I know the drop is abnormal, because Vibes disagree a few times when it drop, when it should rise. This i classify as "abnormal", and I don't make much, or even take losses, under abnormal conditions.
BB - One of the worst indicators??? Have you even tested it? Don't trust what other claimed, there are treasures hiding somewhere there... that's all I have to say, of course
Hey, Paul.... of course I meant it. Otherwise one can never improve or won't know what goodies can be adopt. I will not use that kind of band type indi based on that kind of assumption. A lot of analyses in the world are based on that, but it's the fat-tailed or heavy-tailed events that truly make the difference. What I use personally have no relationships to any indicators at all. I only use them on charts for a bit of eye-candy and gauge mometum/divergence etc... There are BB enthusiasts so it surely works for them and their strategies. But for me, it doesn't fit. I prefer my numbers and geometry, and a bit of cycle studies. Time is a factor most important, but yet most ignored by many traders.
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Originally Posted by CodyB 
Pardon me for my belligerent tendency over there. As I always said, consensus is suffocating, disagreements are good for the brains. But some take it or perhaps themselves really a bit too seriously!
