BBmac's occassional thread

[tar]

bbmac why do you black out the names of the indicators on your charts?

+1

 

[bbmac]

The charts show the bearish divergence which constitutes part of the confluence I use in the proprietary set-ups that mnake up my trading edge. the exact combination of set-ups and constituent parts thereof are proprietary hence the blacking out...but in this case I was illustrating to MagicJohnson10 that at that point the 3min had bearish div whilst the 1min did not on the settings I use.)

The overlays are the Support/Resistance channels and are used as part of one of the set-ups to show when price is potentially overbought/oversold as indicated by these channels on any given t/f.

I don't agree with your assertion that it's '...just a squiggle of lines...' there is sufficient info on them for thread readers to take what they will form it...I do not intend to reveal my full proprietary trading edge on this thread but it is well known what the constituent parts are...which others may find useful in developing/enhancing their own trading edges.

G/L

bbmac why do you black out the names of the indicators on your charts?

unless someone can see the same thing that you're seeing (in order to draw their own interpretations), what point is there is posting charts in this way?

Also, what are the overlays you've got on them?

Donchain channels? Moving averages?

unless someone else can replicate it it's just a squiggle of lines, dontcha think?

 

[DashRiprock]

The charts show the bearish divergence which constitutes part of the confluence I use in the proprietary set-ups that mnake up my trading edge. the exact combination of set-ups and constituent parts thereof are proprietary hence the blacking out...but in this case I was illustrating to MagicJohnson10 that at that point the 3min had bearish div whilst the 1min did not on the settings I use.)

The overlays are the Support/Resistance channels and are used as part of one of the set-ups to show when price is potentially overbought/oversold as indicated by these channels on any given t/f.

I don't agree with your assertion that it's '...just a squiggle of lines...' there is sufficient info on them for thread readers to take what they will form it...I do not intend to reveal my full proprietary trading edge on this thread but it is well known what the constituent parts are...which others may find useful in developing/enhancing their own trading edges.

G/L

If nobody can replicate what you are looking at, how can they learn about it for themselves?

there is so much cr@p on the chart that you could say anything you like and someone could find a reason for it!

 

[bbmac]

Referring back to your Question in your post #20 '..why do you black out the name of the indicators...' I do not, what is blacked out are the names of the set-ups and supporting set-ups on higher t/f's...the indicators are well known, a search of my posts/threads on this site will find them.

Re comments below...the constituent parts of the set-ups that make up my trading edge are like the indicators, well known and it is the indicators that provide for 2 of those constituent parts. My trading edge is proprietary but thread viewers may find the constinuent parts of my trading set-ups to be useful/interesting in developing/enhancing their own trading edges.

..if '..the crap..' offends you, then move on...

G/L

If nobody can replicate what you are looking at, how can they learn about it for themselves?

there is so much cr@p on the chart that you could say anything you like and someone could find a reason for it!

 

[MagicJohnson10]

EA ok thanks...

bbmac's charts and explanations have definitely helped me...
i appreciate his straight down the line and exacting approach...
and his consistency of message...
much better than most of the tripe I trawl through on trading forums...

thanks again bbmac...

 

[bbmac]

Thanks for comments above.

And the message and consistent message is Confluence...My set-ups happen to be the confluence of repeating patterns of regular or hidden divergence/oscillator extremes [that warn of potential changes in price momentum,] - with - repeating bol band patterns [ that warn of potential changes in volatility,] - with - repeating price action patterns [that warn of recent buying and selling activity] - validated by (or not) a repeating individual price action candle/candle combo trigger @ certain (pre-identified) repeating combo's of potential supp/res factors, - all in the context of prevailing overall price action on the 2 higghest t/f's of interest....But...the confluence can be of any sound technical phenomena.

I was just talking to another trader and saying that you have to take a holistic approach..ie don't trade set-ups that may constitute your trading edge just because they are there.,..trade them only in the context of prevailing price action...this means probably rejecting more than you trade....as someone else so excellently put it:

Trading is not about grabbing as many opportunities as possible, but about discarding as many risks as possibe

G/L

 

[tar]

what's with the brackets ?! lol

 

[HAL 9000]

Hi bbmac,

3min .... which broker gives you a 3 min chart?

Fxcm with Marketscope charts will.

Adjusted TL

 

[bbmac]

Intraday rise halted

And it was all looking so Bullish intraday Lol...a nice rise to 6193 a fall to 6138 just below the then current daily lo at 6140 and another rise/recovery to the previous 1hr/4hr swing lo zone (previous support = potential resistance) and there the supply came in...

1hr near-term screenshot is below...

G/L

 

[MagicJohnson10]

Fxcm with Marketscope charts will.

Adjusted TL

thanks HAL 9000...

 

[bbmac]

Asian sell off

Big move down during Asian session (relative to that session)..Uk manuf and Ind Production data due @ 0930-am gmt...price testing swing lo zone around Tuesday's Lo atm.

That 7 fib cluster that starts at Tuesdy's lo and mentioned in post #1 of this thread extends 6122-6098...Weekly S1 Pivot in there too @ 6105 area.

How strong ar the Bears now ?

1hr near-term current screenshot below;

 

[bbmac]

Boe/MPC

Next Event Risk after the 0930am Manuf/ind prod numbers is the key 1200pm Boe/MPC rate decision and Qe info...consensus opinion is still for n/c on both of these. Trichet has turned hawkish in € land and with the vote at 7-0-2 last time, I wonder whether Mpc member Andrew Sentence has converted any other waverer's round to his uber hawkish view re inflation ?

G/L

 

[bbmac]

buyers overwhelm sellers

Price dips just below Tuesdya's Lo into that 7 fib cluster and more specifically 23.6% 5405-6343 with 61.8% 5985-6343...and an indication that if there are buyers here they could overwhelm the sellers howsoever temporailly, the repeating set-ups on 1min and 5min suggest this, 1min being the trigger.

G/L

 

[bbmac]

Cream

I have Cream Classics Vol 2 playiong on cd, racking the house (as they used to say - back in the day !) (For those that don't know the geography-Cream was a Mega House/dance music Club in Liverpool in the 90's (Happy days !!)

G/L

 

[bbmac]

1hr update

Current near-term 1hr looks like this now: (bottom blue potential support zone is not actually a fractal swing yet on this 1hr t/f until this current 1hr candle closes (if it does correctly to produce a fractal swing lo) but it is likely to be, so I have put it in.

Great 1min hidden divergence based Re-entry to 5min uptrend after the 0930am data (strange knee-jerk react as it was positive numbers !?) .....anyways probably just some supply at the previous 1hr sw lo zone (previous support) with 23.6% 6141-6121 (today's current Lo) shown in 1hr pic above..

5min was here, set-up came @ 2nd HL: on that t/f, after a HH

G/L

 

[glyder]

Re: Cream

I have Cream Classics Vol 2 playiong on cd, racking the house (as they used to say - back in the day !) (For those that don't know the geography-Cream was a Mega House/dance music Club in Liverpool in the 90's (Happy days !!)

G/L

Hi bbmac - when you said Cream - at first I thought you were listening to Eric Clapton's lot!! - Much more my era lol !
My intensely busy work period is subsiding so I'm getting a little time to take a look at charts, and apply a little more of what I have learnt from your presentation. + results so far despite some choppiness.Going from longer term (eg 1 day charts) to short term is interesting - more opportunities but faster thinking (and acting) required. I like the relative certainty it can bring on a daily basis if I can crack it. I'll demo till I'm used to it, as I did for the dailies.

Many thanks,

 

[bbmac]

Essenntial Question of the day

If it does all go t!ts up...will Merv the Swerv find new metaphors (Abba song titles for eg) now that he has exhausted all the cricketing and weather ones ?

G/L

 

[bbmac]

Re: Cream

Lol re Cream, wish you well with your trading...agree re your summation of the shorter t/f's but it's all just experience and developing the right psychological framework...then once you have pre-identified the potential supp/res/sbr/rbs confluences on the trend (longest t/f) and the potential sbr/rbs on the intermediate (m iddle) t/f...it is just a case of allowing price discovery to take place and then looking for set-ups at those areas....so muxt of the work is prep/analysis as opposed to being in the market all the time....I have had 3 trades this morning and I waited 1hr 1min between the last 2trades - patience and discipline remain key.

G/L

Hi bbmac - when you said Cream - at first I thought you were listening to Eric Clapton's lot!! - Much more my era lol !
My intensely busy work period is subsiding so I'm getting a little time to take a look at charts, and apply a little more of what I have learnt from your presentation. + results so far despite some choppiness.Going from longer term (eg 1 day charts) to short term is interesting - more opportunities but faster thinking (and acting) required. I like the relative certainty it can bring on a daily basis if I can crack it. I'll demo till I'm used to it, as I did for the dailies.

Many thanks,

 

[bbmac]

Boe/Mpc

Recovery bounce off 6122 met supply at the 6189 previous 1hr swing lo zone then a pre-data false break to the upside of that met with supply just before the data,at the confluence of the 61.8% 6242 - said 6122 (current daily lo) and the 1hr descending pot res trend line...a nice regular bearish divergence based 3min set-up there to trigger an entry...had to close though for a small gain as data due...then to re-enter on the immediate 1min data react bearish b/o candle...a nice little gain from that.

Oh, I nearly forgot, n/c in rate or Qe was the print...I suppose there was a small chance of a move but the forecasts were right..be interesting to see the vote split whjen mom come out...the hawks will likely take encouragemnet if it goes to 6-0-3 or higher from last two 7-0-2 votes. ? Watch out for that in a couple of weeks.

The pre-data 3min regular bearish div set-up trigger was here:

You can see the potential resistance factors confluence here, ie the descending 1hr trend line with that 61.8% fib

The 1200pm 1min data react b/o candle is here

 

[bbmac]

Final look @ 1hr for today

Remember that 7 fib cluster extends from today's current lo - 6098 with Weekly S1 pivot in there too 6105. Other fibs of the same swings between there and the previous 1hr/4hr/daily swing lo @ 6030 - is this the bears' target? Looking bearish atm.

G/L