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Anytime jav. eom
Hey jav.....compassfx.com eom
Referring to my previous post, the only factor I can see to consider whether the reversal would be substantially more than 10 pips was the TDI baseline. With the false reversal, the TDI baseline was at the 50 level. Other than using stops, and considering the TDI baseline position, I really don't see at this point how to recognise or trade those failed pincher setup reversal alerts or reversal indications.
Ok charger......so in the chart below, there was a 20 pip channel between where the TRIX and PPO gave reversal alerts and the price channeled those roughly 20 pips before breaking topside to move up approximately 150 pips. There had been a nice pinch on the TRIX overlay indis, a nice TDI fast/slow line crossover, along with the PPO and TRIX crossover alerts and yet the price channeled those 20 approximate pips before the topside breakout. I have been caught in those in the past and those false reversal alerts were the reason I'm still spinning my wheels; not losing my butt but not getting anywhere either. I've circled all those crossovers and pinches though I'm sure I didn't need to.
Now I need to mention that once the top was set in and the reversal did occur, there was still only a 100 pip reversal before price began channeling and finally broke out again beyond where my chart shows price action.
So.....the question in my mind is "how the heck do we avoid those 10 to 20 pip reversals where we seem to get a strong reversal indication from all the indicators but the reversal is a lousy 20 pips??? That's 20 lousy pips worth of channeling on a 4 hour time frame!!! Look at my chart below and let me know if you have any answer to that question please.
Charger.....I read my reply to you and don't think I made clear the point of my chart. If you look at the first circles on both the TRIX indi and the PPO indi you'll see that the TRIX had already given a crossover reversal alert but there was no price reversal. The reversal occured when the PPO gave the crossover alert. Notice that when the PPO gave alert, the TRIX lines in the circle rolled up and then back down in parallel. According to the TRIX, the reversal should have already occured, but it didn't until the PPO crossover and the TRIX pinch presented in the TRIX indi windows above. Now scrolling back through the charts I see where the TRIX and PPO indi windows will both give crossover price reversal alerts and the price will indeed reverse. That will often occur on strong wave or trend reversals at the very top or bottom. I love that!!!
Unfortunately, there are times when both the PPO and TRIX will give crossover price reversal alerts and yet the price will just continue in it's trend basically ignoring those reversal alerts. Kind of like when divergence fails or the TDI fails. I'll post another chart in a couple/few minutes showing where the pincher setup fails to give a strong or at least obvious reversal alert for me. Maybe you have a solution or maybe we can put our heads together and find a solution to the seemingly failed reversal alerts by the pincher setup.
Good morning charger! Your PPO crossover is a huge aid in proving out the reversal alert I get from the TRIX (3,0), (4,0), and (6,2) crossovers. It wasn't obvious to me and though I had it in my TRIX/PPO overlay, I wasn't able to make sense of what I saw with the PPO in it. Oh and yesterday was pure torture watching GJ and when it finally moved, I had just glanced at the chart to get a timely scalp. I got lucky. Look at my chart below to see where the price can reverse with the PPO crossover occuring. THat's where the TRIX crossover comes in; AND vice versa!
Hey boca, just make your "Kumo Up" and "Kumo Down" lines solid and on the thickest line setting and the gaps between the lines will disappear leaving you a solid space between the kumo lines. I struggled over it myself for a while.
Shouldn't be that difficult SG, but you made it simple, simple! Thank you very much. You are a scholar, a gentlemen, and an extremely rare soul who doesn't mind sharing honest info and enthusiasm for your hobby on the internet! You and pennies both! IF I ever make it in this game, I'll have you two to thank for it.
Simple.....speaking of memory lapse, how does one go about incorporating all the currency pairs into the Oanda MT4 platform? I don't have USD/DKK for example where it was once there. It's not in the list at all to bring up under "File" - "New Chart".
Simplegreen......I only need 20 pips to get back to even on GJ and then I'll be looking to trade a non-yen pair until the yen pairs give a clear reversal signal on the higher time frames.
I took a long position at the bottom of the trendline where my blue circle is, got shaken out on the smaller time frames as my trendline was a bit higher at the time (only by 15 pips), went to bed and woke up to see that I missed all the long gains to the top trendline where I promptly took a short and here I sit having played both of those trendlines WRONG! Typical... you can see my red trade entry/position line.
It's ok SG, I'm having those senior moments myself but I'm not quite old enough to draw social security before it runs out being used to pay off the multiple trillions of debt on the taxpayers backs. How unfair is that? lol
Well I can see by your chart that the fib lines did indeed have affect on price action, but as far as getting a strong feel for future price action, I'm not getting one. I'd be more inclined to think that the tunnel would provide strong support for continued move up rather than any fib line above current price bringing a reversal. Fingers crossed though that one does though.
Thank you though.....that does help.
Simplegreen......not to be a nuisance, but you missed placing the GJ chart in this post! Oh no!!! I'd very much like to see it for your fib box placement and for your smoothed HA candle point example.
Dumb luck or not, it was still pretty ingenious that you fingered out how to place the second HA candle set below the main chart.
I think you're are right on about candle counting. I do see the candles stall at fib counts, but then they bust back into the trend leaving candle counting a bad idea.
I discovered a lot of my indicators didn't show up in the meta-editor list. It's just too bad that APB is one of them.
Fib based jav....and yes, I had one dreenk! LOL! How would you know that? Ish it thaaat orbvious? LOL! I didn't do the driving on the way home I want you to know, but I had a 6 oz glass of sweet white moscatto with dessert and it was very nice. lol..
I'll post anything I find. Fib based....why wouldn't it be?
Eeeenteresteeng jav....eom
Nevermind, I don't find the synergy_APB in my meta-editor list when I bring the list up to change. The synergy_TDI is, but the APB is not. Too bad too, 'cause that's my go to HA candle indi!
I just got the "smoothed" HA up and running and I don't think it's an improvement over the regular HA SG. You may think of a settings alteration to make it better but out of the box, it's not giving a timely reversal picture.
Maybe changing the synergy APB HA indi will though. I'll try that next....
Alright simple......I've been home a few minutes now and had a chance to place my fib where you had yours and now I have the same picture. I didn't need to stack boxes as I'm using pennies most frequent fib setup which makes it unnecessary to stack boxes anymore unless you want to stack way out from the original box.
Now even though the fibs finally line up to give the same price action obeyance to fib lines based on your chosen wave of choice, I'm still lost as to why you chose that specific 4 hour wave. I should mention that fractals weren't cutting it for me but the default zig-zag indi does help lessen the confusion for wave identification and picking. Nonetheless I'm still scratching my head as to why you didn't go with the next larger swing high/low, or the prior and even larger swing high/low. I wish there was only one flavor to choose from. I like vanilla damnit!
Now referring to your separate HA window......that's pretty dang ingenious, if for no other reason than you figured out changing the altered code back to "chart" from "separate" and it worked! Just the idea of having the two candle types on the same chart makes quick charting evaluation even quicker and easier. I just hope I can make it work with all my pincher overlay windows that I refuse to stop using. lol
So please SG, do tell me why you chose THAT swing high/low????
And could you throw us a GJ fib box chart since you seem to be doing a heck of a good job picking the right swing high/low? I don't need my own technical handicap getting in my way here next week. lol
Simple........I'm stuck short on GJ over the weekend and would love to see a posted chart with your fibs attached to it to help me steer through that dangerous landscape of potential reversal points through the upcoming week. When you have another extra minute to spare that is....TIA!!!
Thanks SG, I'll be around off and on through the day looking for your posts. Families day off and it's about the family on the weekends primarily though. Darnitall lol.
Oh btw, the cruelty certainly is in the wait SG! The holy grail, or unholy (however you deem it), in charting perfection and after nearly 12 years of learning to chart, I'm still waiting to arrive at nirvana for finding near perfection in picking tops and bottoms. It's enough to drive a guy to drink! Good thing it's only dark beer at this point in time....
Simplegreen......I got to tell you, this is making me insane! Once again, I can see where the price obviously obeyed the fib levels on YOUR chart. I can't seem to find any wave to set my fib tool at that gives me your fib layout picture! I can see that you've got a 1 hour chart up, but what time frame are you laying your fib tool down on and do you always start use that same time frame to put down your primary fib lay???? And where EXACTLY did you set your fib 0% and 100% at for your swing high/low on your posted chart????? My pincher setup is nearly perfect for my use, but I cannot seem to get the fibs layed down where I can find any trust in them! I cannot match up with yours on NZD/USD. Please throw up a chart showing exactly what price and swing high/low wave that you layed your fib at!
Nevermind any strong correlation between period separators and price action. There are definate reversals on many of the daily or 4 hour separation lines, but not often enough to make for high odd gains over losses trading. I figured I was grasping at straws with those lines and I was.
Well it was that 15 or so pips below my trendline that killed me. Like I keep saying, the market makers (I assume) oftentimes throw price action just far enough past trendlines or fib lines or pivots or whatever frequently enough to keep the retailers off balance. If there were no spread to trade around and no manipulation around trendlines, etc., forex would be the motherlode for me to trade from. As it is I'm like the guy with a 2" dredge in a colorado stream dredging small amounts of fine gold when all the nuggets are to be found up in Alaska and Australia. It's angering.
I lost a chunk trying to play the bottom last night long which indeed was where price action was headed on GJ but I kept getting shaken out and finally closed out, went to bed and the damn thing shot to the top trendline as I expected. So instead of making a haul, I lost a chunk. It's enough to make a guy want to kick his monitor screen in.
GM simple and thanks. I found "cycle lines" in the "tool" tab and thought that might be what charger had on his chart. I doubt that I'll find that price reverses from the highs or lows of those period separator lines each time but I'm curious how often it does occur on the 4 hour and above time frames.
No problem charger......I'll look into what's got my curiosity peaked and I'll post my findings. I'm sure it'll be another wishful thinking obvservation, but I'm curious nonetheless.
Interesting. So if you scroll back through the chart, can you see where there is a weekly reversal on that line most of the 52 week of the year? Can you identify what that default line is called?
I just noticed that there was a good reversal in very close proximity to the tops of the candles on which those goldish colored verticle lines occured. Wondering if they were weekly markers or if you'd drawn them in.
Hey charger......what are the verticle white or goldish colored lines on your 4 hour chart?
What do you mean.......did you give back gains or what? I'm not ahead much if you're considering my being ahead. You were up 100% in your demo account. Keep doing what you're doing! It's working for you even if you do give some profits back occasionally. I wish I could trade long term off your chart. The 30 minute chart may be what I settle on for longer term.
I'm ahead for the week whatever, but may do better next week changing pairs, I don't know. I'll slap the fibs on EU or AU or a New Zealand pair maybe to see if I can get the price action to obey the fibs better than GJ seems to. Still discouraging...
whatever07......appreciate the reply. I have my fib layed out now where yours is on my 30 minute chart and we'll see where the price action hits fibs from here. My prior fib layed off prior swing high/lows on the 1 hour and larger charts didn't show any real alignment between price action and fib lines. Very frustrating. Still a matter of "which trendline, or which pivot, or which adr line, or which congregation of different fib overlays will the price stick to and reverse at. With all the slop in where price action turns on the fibs especially considering the tails, there can be lots of pips difference between price reversal and which candle the fib locks its close at. I'll continue laying the fibs down but I'm not overly enthused.
Anybody want to throw up a chart on GJ showing how the fib levels would match up with price action? I must not be getting it right on choosing the right waves to lay the fib on 'cause I'm doing better with chargers pincher setup than I am with my fib lines on all these pairs, especially GJ that I've been trading all week.
Nope, it's not you, it's me too and I'm tired of staring at the screen. I'm about done watching GU for the night to see if it's going to brerak down or move up to test the weekly trendline that it broke through yesterday.
Exactly! There should be but there's not. I don't know why it's so difficult to manuever through these sites for certain things. Things that should be obviously easier for sake of requiring less phone staff for the company to pay wages to.
No.......there's a place to pick and choose which pairs show in that list and I just can't remember where to find it. Pennies steered me to it months ago but I've only gone there once and can't remember it. lol But it's not at the bottom of that list under "forex", I checked already.
USD/DKK for one pileit1. eom
Tx pileit1 but that list isn't complete for me and that's why I was asking where in the platform you go to add pairs to that list or detract pairs from that list. Thank you though!
Yep jav, I'm not proud, I'll stand along side all you old critters.
Ya know though, there was a time when I used to say "I can't wait for tomorrow 'cause I get better looking everyday.". I don't say that anymore. Now I say, "I hope I live long enough to see tomorrow". LOL
Can someone refresh my memory and tell me where to go in the Oanda MT4 chart platform to bring up more pairs in my list to open charts from?