School of Pimpology - page 78
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pivot
eur break pivot
Okay, All,
Who took the trade below? Beautiful set up with a trendline, cross of the 63cci, cross of the 5cci, cross of the 1hr20ma. Okay the 252cci was a little late crossing, but this was a breakout play with the trendline. +90 pips.
Buuuuuutt!! It was against the 4hr21cci, so I didn't take. I saw it happening, but wasn't confident enough to go against the trend.
Anyway. My point is that my target would normally have been daily support 1 and can't even be seen here. So, it was unlikely to go that far in a straight run.
Look how the price bounced off FX Pimp's new Weekly Pivot indicator (ws1).Hi Bill,
Sorry to hear you never pulled the trigger. WHYYYYYYYYYYYY ??
What was against the 4hr 21? The 4hr 20ema was above you so you know you are below 0.0 on 4hr21CCI. I have even added a 1008 to the bottom of this chart just for you to see exactly where the 4hrCCI would have been.
Don't worry if the 252 has not quite crossed. The important thing is the break of the 60m 20ema which is equivalent. I guess had the 21CCI been a 20, then a 252 would be a 240 and then it might have just broken the 0.0. Shall do some tests.
You been on the Guiness again ?
EurUsd trade
Hey Pimp on Bills question on the EURUSD where would you have gone in at? I'm a little fuzzy on your entrances...If you could pinpoint some entrances on trade setups it would really help us--at least it would really help me.
By the way I sure thank you for your time and effort on this thread...you are a rare breed indeed!!!!
thanks
Greg D
Hey Pimp on Bills question on the EURUSD where would you have gone in at? I'm a little fuzzy on your entrances...If you could pinpoint some entrances on trade setups it would really help us--at least it would really help me.
By the way I sure thank you for your time and effort on this thread...you are a rare breed indeed!!!!
thanks
Greg DHi mate.
You will need to go over the charts I hcva posted to see the entries clearly. They are either highlighter with the circle function or with the vertical line as above or with an arrow.
You either play the break of a decent support line as Bill has posted, or wait for a retracement of the trigger CCI, or go in on the cross of the 252 or go in on the cross of the 63.
The latter two you will almost always rxperience some pain with, so trade the rirection of the 252, wait for 63 to cross in same direction, then a little retracement and re-cross of the signal.
In instances of a nice support line being broken then as long as the 63 and 252 are down and not oversold and you're m.a's are in correct order and in close proximity you should get a run for your money.
Thanks
Thanks mate...that really helps!!!!
Greg D
4hr21cci
Hi Bill,
Sorry to hear you never pulled the trigger. WHYYYYYYYYYYYY ??
What was against the 4hr 21? The 4hr 20ema was above you so you know you are below 0.0 on 4hr21CCI. I have even added a 1008 to the bottom of this chart just for you to see exactly where the 4hrCCI would have been.
Don't worry if the 252 has not quite crossed. The important thing is the break of the 60m 20ema which is equivalent. I guess had the 21CCI been a 20, then a 252 would be a 240 and then it might have just broken the 0.0. Shall do some tests.
You been on the Guiness again ?Oh, FX, the pain I'm feeling now.
I don't know what went wrong yesterday. I was reading the charts all wrong.
The one trade I did take yesterday, USDCHF short, was when crude and gold where heading down. I chopped it for -19 when I realised my mistake. I was reading the wrong direction.
I watched some othere set ups and let them go by too...........
Good morning all.
Just a quick one this morning as my classical FM clock-radio never managed to rouse me from slumberland and I am running a little bit late.
Somwhow I managed to fall asleep at 9pm lastr night and so was scratching around at 2am looking for something to do.
Yhe joys of being on holiday.
Anyway, crude managed to smash through the weekly 50sma with some serious machinery, taking it all the way to $100 almost.
Surely it's time to move north again. Does anyone really think this can go back to $70 or $80. I don't.
Gold back at $500? No way.
Technically both are still very bearish, so lets wait a bit.
Shorter term, Crude has dounced off weekly S1, Gold off daily S1.
We need for them to break the pivots and the 60m 20's if we're going to see a way out of this.
On the currencies, Cable is really having a try, with the 60m 20 almost crossing the 50 with the 4hr 20 in range. A nice clean break of 1.7670 to the upside might see a little run north.
Will keep you posted with some updates but everything else looking messy at the moment
MTF indi
William where did you get the MTF trending indicator from.? May i have a copy of it ... Thanks
Chonpz,
Check out this post.https://www.mql5.com/en/forum/general
Holiday
I realise I am on holiday and not doing any trading and instread preparing for my relocation opposed to sitting at a screen all day, but I was kind of hoping that in my absense a few participants would have taken over the helm for me.
I can still answer questions.
Or can I take it that everybody who is implementing this strategy is 100% comfortable with it and making good pips?
Well in that case let's see some of you results. Post some charts and show us all how well you are doing. I'd really like to see that.
If you're not making good money then tell me what you are doing wrong and I will try and rectify the problem for you.
One very lovely lady has been kind enough to put together the entry/exit rules together in a standard single-page word document.
This can be ammended for any timeframe and will give you a clearer insight into how to trade the standalone timeframe.
Whether it be 5m alone or 60m alone. Once you have practised that diligently, then move on to 2 timeframes, but I inderstand that many of you have just the one screen so this will help you guys.
This will be a very good concise overview of the do's and don'ts of the strategy and will save you some precious time and give you a little head-start when attempting this strategy for the first time.
Please request which timeframe you wish to trade and I will send you the appropriate page. thefxpimp@hotmail.com