The Simba Con Man - page 24
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Was figuring it was too good to be true actually these snakes are a mod using Igorad's All Avg's this picture is the same setup except using his T3 check out the tails.Like to post the mod but not sure if his All Avg.v2.3 is public or elite.
Your shorter term snake,the green one hasn`t turned...this is the first one to turn,always,by definition...;)...so,probably you are suffering the problem I mentioned in my previous post.
Please notice that prices rebounded at the trendline as per one of my previous posts,but if you check the shorter term snake on H1 it has turned down...so,we are again at a messy and unpredictable situation.
kinda old question
I read the thread but could not quite understand how to make projections. Can someone help me in making the projections based on the market situation on the attached picture? Thank you all!
maccavity,
it looks as if your chart isn't ready to a turning point yet. Once you have a cross section, to get a projection you would measure from the last low to the intersection, then look for an upmove of the same length with a difference of +-10%
I missed the posts about using the SnakeSMA, you should see a downpointing blue ma projection.
I did use the settings 3014,21. As far as price action we can note a cup and potential Gartley formations. I have placed a trendline, an estimated break and conclusion (the possible break projection is white, the low-to-cross is red). From there I took the length and looked for an area approximately equidistant.
That would give on this chart around 185.22, +-10%.
This isn't a trade I'm even considering, however I very much enjoy seeing cycle chart analysis, and think everyone can always use some more. I'm posting to help keep this moving, all opinions are very welcome
Thank you, codobro!
Could you specify please, intersectino of which MAs should be taken as the basis?
maccavity, it looks as if your chart isn't ready to a turning point yet. Once you have a cross section, to get a projection you would measure from the last low to the intersection, then look for an upmove of the same length with a difference of +-10%
Gbpusd h4
Actually,simple is better...IMHO
1-When both trendlines have been broken AT CLOSE,so,a close of an H4 bar is above them....AND
2-The Magenta snake has flattened or turned up...Then
You start thinking LONGS
Until this happens you just think either short or,more probably,consolidation area.
I used half cycles of 61 and 30,due to the fact that main cycle in GBPUSD H4,as I wrote a few posts back is 123 periods.
Gbpjpy h1
The pattern you see is that of a consolidation area,you can call it W bottom or you can decide it is a Dragon,since it has the right Fibo ratios,anyway,no matter what you call it,you don`t think long until the trendline has been broken at H1 CLOSE...so you need a CLOSE above the TL...AND...you need the Magenta snake to be either Flat or pointing up.
Very nice charts setup Simba. Thanks.
FerruFx
Setup:Entry Long
Very nice charts setup Simba. Thanks. FerruFx
Hi Ferru,
Thanks for your kind words.
Actually the setup evolved and now is telling Long,so,I start looking for either retracements in the up direction or direct entries...first target area is 175.50 approx,it will evolve with time,important thing is that TL has been crossed and Magenta snake is pointing up and crossed the Aqua snake,so,Trend is UP.
Target area was reached and looks like we are seeing a retracement,trend still up on H1...an interesting place to reenter long will be at either the TL or one of the 2 snake lines....An even more interesting exercise,for those interested,is to switch to m1 and try to reenter(on demo
) every time we get a long entry signal....This will get you fast experience in handling the snake nuances .