The Purely Technical EUR/USD Trading Thread

[root-minus]

Attachment 129545


wedge at supply

booked most at r/s level

[Franosh]

From other thread - getting confused on where to write! Greg - do we need this this thread?


Feels like end of the 2nd wave (c after an abc) in the 5th - this descending triangle has come a long way not to spike out of the bottom of it.

1.2618 was yesterday's high and in Alejandro speak, market maybe just trying to get close to it to dump again in the 3rd of the 5th.

Just sayin in case anyone is too long and it is my turn to be right.

Hi, Clive. You mentioned a few times of that time squaring 2463 level. Could you please post it how your software calculate that based on what? Or is it just a number show up by the indicator? I asked because Ensign is not said to be one of the charting packages that can do proper Gann calculations, so I would like to know how the calculation is done. Thank you.

Edit. I think I've figured it out. That level is 270 degree down from 1.6037 based on 3 digits. Please just ignore my last question.

[Clivewaverider]

Hi, Clive. You mentioned a few times of that time squaring 2463 level. Could you please post it how your software calculate that based on what? Or is it just a number show up by the indicator? I asked because Ensign is not said to be one of the charting packages that can do proper Gann calculations, so I would like to know how the calculation is done. Thank you.

I have attached 2 charts: one is from the last pivot high (my so called weekly wave or intermediate) and the second is from the all time high of 1.6037.

The ensign setting is in Pyrapoint - I have had to jiggle with this to find something sort of workable as one can become too fixed on what it is saying. What I was looking for was a way to give efficacy to my MYWaves - how do I know the wave turns make up a justifiable count. By jiggling with the degree settings (this the Gann bit) it is possible to find one that seems to fit the degree of wave - so my MyWaves seem to form around the testing and back testing of the ladder rungs.

You simply select 'P' in ensign for Pyrapoint and click one on the pivot high or low you want to use. Then it is a matter of setting presentation and degree. If you have ensign, I can copy you a study input sheet to copy before you get the hang of it.

I have tried all sorts from fibo, passavento to Murray Math but this does seem to give fair areas for consolidation and impulse targets on varying wave degrees and it all happens automatically, printing new targets as time moves on.

Let me know if you need anymore to be going on with.

[Franosh]

I have attached 2 charts: one is from the last pivot high (my so called weekly wave or intermediate) and the second is from the all time high of 1.6037.

The ensign setting is in Pyrapoint - I have had to jiggle with this to find something sort of workable as one can become too fixed on what it is saying. What I was looking for was a way to give efficacy to my MYWaves - how do I know the wave turns make up a justifiable count. By jiggling with the degree settings (this the Gann bit) it is possible to find one that seems to fit the degree of wave - so my MyWaves seem to form around the testing and back testing of the ladder rungs.

You simply select 'P' in ensign for Pyrapoint and click one on the pivot high or low you want to use. Then it is a matter of setting presentation and degree. If you have ensign, I can copy you a study input sheet to copy before you get the hang of it.

I have tried all sorts from fibo to Murray Math but this does seem to give fair areas for consolidation and impulse targets on varying wave degrees and it all happens automatically, printing new targets as time moves on.

Let me know if you need anymore to be going on with.

Thanks for the charts. I guess we were typing at the same time when I edited my last post. I found out how the numbers are done. Ta.

[Clivewaverider]

Thanks for the charts. I guess we were typing at the same time when I edited my last post. I found out how the numbers are done. Ta.

So, that's the next million in the bank then?

[captester]

ventured a long here small stop going to work for a couple hours and see where it is at.
would post chart for the reason but shoulda left 1/2 hour ago. silly addicted to counting boy I am.

[Franosh]

So, that's the next million in the bank then?

Far from it. The trouble with all the esoteric stuff is just like most other simpler systems, it's all very clear with the benefit of hindsight. Like your pyrapoint, I have not looked into its use of time lines (the vertical levels) as there is not enough information on your chart for it and I don't want to buy Hall's book to find out. But the horizontal levels are merely geometric calculation every 45 degree up or down. Beforehand, no-one can say when a leg would end at 90 degree, or 180 or 270 or 315 or all the way to 360 degree and more. Only when the turn has already happened then can and dare one say: ah, this stop at XXX degree.

That's not of much use but with a lot of hassle in analysing, isn't it. I am rather ambivalent regarding the esoteric at the moment. It's fantastically unnecessary yet at the same time incredibly fascinating.

[Clivewaverider]

ventured a long here small stop going to work for a couple hours and see where it is at.
would post chart for the reason but shoulda left 1/2 hour ago. silly addicted to counting boy I am.

I closed my shorts at 1.2502, where the S2 is for the week and the Gann line on the weekly wave. I still got plenty to do to recoup trying to fight this but nothing like a target!

I have been messing with my Moving Averages band - I use an 'Attenuation' setting in Ensign which is a lot quicker than exponential/weighted etc. The closest match I can find is guassian or butterworths, but still not as good as Attenuation. I posted the SWiss Army Knife Indicator report on this a while back.

I have settled on the 5 MA for the 240min and the 1 day periods, overlaid on a 10 min chart. In the main, because it is readable. The angle of the MA's plus the cross provide an instantaneous confirmation of what the 240min and daily trends are like and how price is relating to them.

I am only stating this because the last move came off an 'almost crossed up' signal. If this is wave 5 of 3, then the next move up that takes out the 1.2601 high out, should get the big wave 4 retracement going - reason being that so much hard work just got fubbarred by the market, that them stops is all ready to take and we should be out of the descending triangle.

I'll try and time a lower buy, but I'll be long at 1.2603.

Till next week.

Rule 1: The 2day Hull MA is the trend - final. Gold for up and pink for down. In correctives, price returns over and over to the Hull MA like an anxious child. In impulses, it stays away more.
Rule 2. The 240min and daily 5MA attenuation must be crossed in the direction of the Hull and be angled in the right direction, or a guess on a pivot being taken out, likely to confirm. Price must be under or over both atten MA's in direction of the cross but not necessarily the Hull (but must be in direction of the colour).

[Clivewaverider]

Far from it. The trouble with all the esoteric stuff is just like most other simpler systems, it's all very clear with the benefit of hindsight. Like your pyrapoint, I have not looked into its use of time lines (the vertical levels) as there is not enough information on your chart for it and I don't want to buy Hall's book to find out. But the horizontal levels are merely geometric calculation every 45 degree up or down. Beforehand, no-one can say when a leg would end at 90 degree, or 180 or 270 or 315 or all the way to 360 degree and more. Only when the turn has already happened then can and dare one say: ah, this stop at XXX degree.

That's not of much use but with a lot of hassle in analysing, isn't it. I am rather ambivalent regarding the esoteric at the moment. It's fantastically unnecessary yet at the same time incredibly fascinating.

Agreed - I just posted my solution to this. I stripped out all that stuff and just left the horizontals to validate the MyWaves and give better stop loss positions. All part of the picture, I hope!

[Robert Eckert]

I closed my shorts at 1.2502

Awesome! Wish I could pick a bottom or top with anything like that accuracy.

[Clivewaverider]

Awesome! Wish I could pick a bottom or top with anything like that accuracy.

If you read down the posts Robert, you will see it was a Gann line - I have covered how you produce them too. Good day but need them now!

[Robert Eckert]

If you read down the posts Robert, you will see it was a Gann line - I have covered how you produce them too. Good day but need them now!

My entries and exits have been very poorly timed of late, often closing out euro shorts just before drops, re-entering just before it goes the other way; don't get me wrong, EUR/USD has been quite profitable for me during this crash, but not nearly as much as it should have been. On non-euro trades I did arithmetic for this past week and found that my money (mis)management has been classic n00b: 28 trades, 18 for + and 10 for - which sounds quite sterling, except it adds up to slight net loss (mainly on two big minuses which I left riding for way too long). I definitely need to shift my focus from trend-directions to studying how long trends will run for before turning around: in this regard, I appreciate the detail of your charts.

[Clivewaverider]

My entries and exits have been very poorly timed of late, often closing out euro shorts just before drops, re-entering just before it goes the other way; don't get me wrong, EUR/USD has been quite profitable for me during this crash, but not nearly as much as it should have been. On non-euro trades I did arithmetic for this past week and found that my money (mis)management has been classic n00b: 28 trades, 18 for + and 10 for - which sounds quite sterling, except it adds up to slight net loss (mainly on two big minuses which I left riding for way too long). I definitely need to shift my focus from trend-directions to studying how long trends will run for before turning around: in this regard, I appreciate the detail of your charts.

We really all suffer you know Robert: I have got a good kicking over the week - I actually managed to cover my shorts well until that final drop on 'gut feel' and 'no way are my counts wrong'. But this time, the trend was strong and as unusual as it is/was/will be ever again, this time, it hurt. So although I think, I only needed to tweak my approach a bit, with key being to stay on the right side of 'impulse or corrective' and trade accordingly, I won't know really until it goes wrong again - it is always in the pysche and why Alejandro (mature beyond his years) keeps banging on about staying with the trend.

You will see alot more 'accent' in my work here on defining the trend along the 2day Hull MA which really is a super find in my opinion - Do you have this on your software? If you do, let me know and I'll walk you though the right settings.

[Franosh]

We really all suffer you know Robert: I have got a good kicking over the week - I actually managed to cover my shorts well until that final drop on 'gut feel' and 'no way are my counts wrong'. But this time, the trend was strong and as unusual as it is/was/will be ever again, this time, it hurt. So although I think, I only needed to tweak my approach a bit, with key being to stay on the right side of 'impulse or corrective' and trade accordingly, I won't know really until it goes wrong again - it is always in the pysche and why Alejandro (mature beyond his years) keeps banging on about staying with the trend.

You will see alot more 'accent' in my work here on defining the trend along the 2day Hull MA which really is a super find in my opinion - Do you have this on your software? If you do, let me know and I'll walk you though the right settings.

I am thinking of putting in a limit buy at 2470 through the weekend. Do you think if I have lost my marbles?

Another thing is, I don't know how you manage to be so aggressively trading both longs and shorts at the same time because when things really get going, the opposite side can bearly move any inches or just doing side ways. Now I really don't have the stomach for it. When it comes to being aggressive, you're da man!

[Clivewaverider]

I am thinking of putting in a limit buy at 2470 through the weekend. Do you think if I have lost my marbles?

Nope but the 'Ladder' for this last wave down is getting great touches with 1.2502 proving the point thus far. The next rung down on that one is 1.2432 then 1.3363 - if the 1.2463 from the alltime high ladder fails, it might surge quickly again. I have given up fading - I am a professional now!!??

Just for playtime, there is actually nothing wrong technically me thinks with this EW count attached. This could be a big lesson for me in the MyWave stakes as in this count, the pathetic 2nd wave could have just be as such - a limp 'abc' in the middle, splitting out two complete waves and we are on the threshold of an almight cascade. Because of the lack of retracements, we are all so indoctrinated into believing x comes after Y, etc, that what we 'know' may not in fact be worth knowing at this juncture. Food for thoughts.

I hate the weekends!