School of Pimpology - page 177
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Hi Paul
Following Dan and Zaks strategy (just to clear any confusion elsewhere) I am working off my hourly charts.
I have the 4 hour 20 crossing the 4 hour 50 for 4 pairs: GBP:USD, GBP:JPY, UER:GBP and USD:CAD.
Now 3of them look to be too far away to trade on the 21 CCI, so I take it we now wait for the retrace before looking for entries?
The only one that doesn't is the CAD pair, but with a recent double top i'm not sure I fancy a long play?
Thanks in advance.
Stuart
I've definitely know what you're talking about. I've been to the stage that you look for so much that you end up never trading. I use the Pimp strategy but have to say pay more attention to the MAs. Normally look on 1hr chart and for clear air either above or below (no MAs in the way). Then I stick an order below/above the low/high. Look at cable 1hr today, order below 14314 (I did 14292 to clear the figure) and 100 pips without thinking.
I've used orders far more than actually pulling the trigger myself lately. That way it takes the stress of actually 'executing' the trade away.
Cheers
Bloom
Stuart
I've definitely know what you're talking about. I've been to the stage that you look for so much that you end up never trading. I use the Pimp strategy but have to say pay more attention to the MAs. Normally look on 1hr chart and for clear air either above or below (no MAs in the way). Then I stick an order below/above the low/high. Look at cable 1hr today, order below 14314 (I did 14292 to clear the figure) and 100 pips without thinking.
I've used orders far more than actually pulling the trigger myself lately. That way it takes the stress of actually 'executing' the trade away.
Cheers
BloomHi Bloom. Thanks a lot (you've hit the nail in the head there). I'm going to focus on the hourlies.
Was there a trigger you were looking for on cable, or was the crossing of the 4 hourlies enough of a trigger.
I understand your order levels, below the resistence, and targeting S2, makes a lot of sense. My worry was the price was a long way from the 4hourly MA's, but it was bouncing off the 60min 20. I take it the distance from the 4hourly isn't an issue?
All the Best
Stuart
Hi Bloom,
good point.
Regards,
FibTurtle
Hello, dear traders!
For the first week of February our system Gamma has earned 44pips, or approximately 2 % if to observe our MM. From the beginning of year system Gamma has earned 785pips or 42 % if to observe our rules of MM.
We congratulate all of our subscribers, and wish success and profits to all!
Smartforexsignal.com
I take it the distance from the 4hourly isn't an issue?
All the Best
StuartIt was Stuart, but at the end of the day the trend was down so that was the way I traded. I had no interest in going long. I put the order in and if it broke I reckoned it would go. I'd prefer the MAs to be tighter generally though.
Cheers
Bloom
It was Stuart, but at the end of the day the trend was down so that was the way I traded. I had no interest in going long. I put the order in and if it broke I reckoned it would go. I'd prefer the MAs to be tighter generally though.
Cheers
BloomUnderstand. Thanks. I'm currently watching EUR:GBP. The 4 hourlie MA's have crossed and it looks like we have a pull back in the CCI's on the hourly.
Waiting for the 5 CCI trigger to come in.
That trade would fit in with the strategy wouldn't it?
This thread is for the Pimp strategy from The School fo Pimpology
SFXS,
Hello, dear traders!
For the first week of February our system Gamma has earned 44pips, or approximately 2 % if to observe our MM. From the beginning of year system Gamma has earned 785pips or 42 % if to observe our rules of MM.
We congratulate all of our subscribers, and wish success and profits to all!
With the utmost respect, SFXS, this thread is for students of The School of Pimpology to discuss their trades relative to the Pimp Strategy.
Trying to sell your wares on another person's thread is down right disgusting, distasteful and disrespecting.
Please kindly share and show us the same respect and go elsewhere to do your advertising.
You are welcome to post here providing it is relative to the Pimp Strategy from the School of Pimpology.
Thank you.
Moderators and Adminstrators: PLEASE DELETE POST # 1768. Thank you.
Update on Daily trades using Pimp Strategy
AUDUSD: Still short triggered by CCI cross. Target is most recent lows.
EURGBP: Both Daily AND Weekly swings are at 50% Fibs BUT in opposite directions! So what to do? Nothing, just watch and let the market and the strategy show us the way. What I see is a re-test of the lows and depending how today's bar closes, I may enter a short ticket.
End of NY session: Closed with exhaustion/neutral bar at confluence of minor resistance, the 20 and 50% Fib. Sell ticket in place at 0.8935 with TP at 0.8850, major support.
GBP pairs:Took small profits on GBPJPY as it seemed to have stalled although I still expect it to re-test the lows at support. Everything still lined up and waiting for CCI cross.
The rest I am out of until they break S & R or TLs.
Most pairs are in congestion. Expect big move when they break out of their range. Brokers are being inundated with orders above and below the ranges. Be careful with first breakout, it usually is a fake by market makers to wipe out the stops - they know where they are!
Look for a re-test or 1-2-3 as the strategy calls it but if you see it take off in a big way, you might want to get a Ticket to Ride!
EURUSD: Like a spring being compressed tighter and tighter building up huge amounts of energy. In my view, this is going to explode. Major support at 1.2710 with only minor resistance above until major resistance at 1.4025. I'm looking to enter long.
USDCHF: Not as compressed as EURUSD but nevertheless coiling tighter and tighter. Below major resistance at 1.1650 and next major support at 1.1180. Now beginning to look opposite of EURUSD again. I'm looking to enter short.
Rock on,
Strat
Hourly Pairs following Pimp Strategy at 10.42, Friday
Hi Guys,
Just wanted to post my brief summary of the pairs following this strat to check i'm getting it!
Do these make sense?
USD:JPN Above all MA's, looking for longs, but needs a retracement at the moment. Next resistence 9244
USD:CHF: All MA's bunched together. Needs direction.
EUR:USD All MA's bunched together, needs direction
GBP:USD, hourly MA's crossed for longs, but 4 hourly the wrong way around. Strength forming, but needs a bit of time?
EUR:JPN, All MA's look good. Hourly just crossed, resistence on Monthly pivot to get through, then clear to 12000?
GBP:JPN, like Cable, the hourlies have crossed, the 4 hourlies are upside down. Stength forming, needs a retrace to trade?
GBP:CHF Same as the JPN and USD pairs. GBP strength needs time to validate.
EUF:CHF All MA's buched together, needs direction.
EUR:GBP Going against the MA's at the moment. Can't trade.
AUD:USD, MA's bunched together, but long plays look on. Waiting for CCI trigger?
USD:CAD, MA's all wrong, trend change in progress? Wait