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bbmac
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1,3,5, and 15min bearish divergence at current hi
3min was the first t/f that set-up well supported by 15min. One of those occassions where there is a great Rev set-up supported by an unvalidated Rev set-up on a higher t/f (unvalidated by the closing of a price action trigger for that t/f) but the only potential resistance you have got pre-identified is the Weekly Pivot ( a minor potential resistance factor...although a previous 1hr swing hi zone only juist above.) The 3mnin PB trigger like the one as the trigger for set-up above was too enticing, and it is one of those rare occassions when the quality of the set-ups and pa trigger over-risde any concern about the weak potential resistance. (they are rare..ordinarilly I reject them.)
G/L
3min was the first t/f that set-up well supported by 15min. One of those occassions where there is a great Rev set-up supported by an unvalidated Rev set-up on a higher t/f (unvalidated by the closing of a price action trigger for that t/f) but the only potential resistance you have got pre-identified is the Weekly Pivot ( a minor potential resistance factor...although a previous 1hr swing hi zone only juist above.) The 3mnin PB trigger like the one as the trigger for set-up above was too enticing, and it is one of those rare occassions when the quality of the set-ups and pa trigger over-risde any concern about the weak potential resistance. (they are rare..ordinarilly I reject them.)
G/L
MagicJohnson10
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hi bbmac,
that "hedge fund masters" book you suggested looks like a great read...
have only scanned the contents...and looks like it gives a load of insight...
TY
price heads off without me quite often...lol
:whistling
that "hedge fund masters" book you suggested looks like a great read...
have only scanned the contents...and looks like it gives a load of insight...
TY
price heads off without me quite often...lol
:whistling
bbmac
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reading
Hi
Yeh it's a good read. I think any 'extra curricular' reading on the subject and around it is good in broadening the knowledge base. I know I have picked up a lot from such.
G/L
Hi
Yeh it's a good read. I think any 'extra curricular' reading on the subject and around it is good in broadening the knowledge base. I know I have picked up a lot from such.
G/L
MagicJohnson10
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another qn?
if you were using the 5 min chart as your trigger timeframe
would you use the H1 or the H4 as the trend timeframe?
given that the m30 is the intermediate...
if you were using the 5 min chart as your trigger timeframe
would you use the H1 or the H4 as the trend timeframe?
given that the m30 is the intermediate...
bbmac
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reply
if 5min is your shortest (trigger) t/f then 30min becomes intermediate (middle) t/f, and 2hr the trend (longest t/f.)
-------------------------------------
As you know I use the 1/5/30min combo as well as the 3/15/1hr combo and just to confuse things I treat 1hr as the trend t/f in respect of identifying pot supp/res/sbr/rbs factors for the 1/5/30min combo (not the30min) ...just makes it easier and 30min is near enough to 1hr. (For the purposes of opa conditions I continue to use 30min as the trend t/f in the 1/5/30min combo.)
Sometimes I don't get a set-up on 1min/may get one but want furher confirmation so if there is a supporting set-up on 5min I will enter on close of any candle/candle combo trigger on that t/f which effectively becomes the proxy trigger for that trade only...similarly with the 3/15/1hr combo.
G/L
if 5min is your shortest (trigger) t/f then 30min becomes intermediate (middle) t/f, and 2hr the trend (longest t/f.)
-------------------------------------
As you know I use the 1/5/30min combo as well as the 3/15/1hr combo and just to confuse things I treat 1hr as the trend t/f in respect of identifying pot supp/res/sbr/rbs factors for the 1/5/30min combo (not the30min) ...just makes it easier and 30min is near enough to 1hr. (For the purposes of opa conditions I continue to use 30min as the trend t/f in the 1/5/30min combo.)
Sometimes I don't get a set-up on 1min/may get one but want furher confirmation so if there is a supporting set-up on 5min I will enter on close of any candle/candle combo trigger on that t/f which effectively becomes the proxy trigger for that trade only...similarly with the 3/15/1hr combo.
G/L
MagicJohnson10
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bbmac
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wedneday demand at the current pullback lo..how strong ?
At the then current 1hr pullback Lo....a 1min regular divergence based reversal/pullback set-up, no higfher t/f unvalidated set-ups supportting it, but that was okay as it wasn't against a strong trend..(opa downtrend to 5min /possibly 15min only)..as for potential support...well 50% of the 5978-6131 (today's current hi) was just under as were bids talked up by mni in the 6040/50 region..but that was all, so rejected.
Then a 1min hidden div based re-entry to 5min opa downtrend after a pullback set-up @ the 50% of the then last move down on the 5min with a swing lo x 2 zone = potential sbr...a decent potential sbr/res and 5min was in an opa downtrend so traded it only to be stopped @ b/e after a rebound again from the current 1hr pullback lo area
Next price sells down again to the current 1hr pullback Lo with 50% of the 5978-6131 (current daily hi) fib there,...clearly some demand there and a 3min regular divergence based reversal/pullback set-up and good ipa trigger with a 15min unvlalidated supporting set-up
The 1hr potential support and fib is here but the lower t/f's showed better that there was demand at that area around the 50% fib.
G/L
At the then current 1hr pullback Lo....a 1min regular divergence based reversal/pullback set-up, no higfher t/f unvalidated set-ups supportting it, but that was okay as it wasn't against a strong trend..(opa downtrend to 5min /possibly 15min only)..as for potential support...well 50% of the 5978-6131 (today's current hi) was just under as were bids talked up by mni in the 6040/50 region..but that was all, so rejected.
Then a 1min hidden div based re-entry to 5min opa downtrend after a pullback set-up @ the 50% of the then last move down on the 5min with a swing lo x 2 zone = potential sbr...a decent potential sbr/res and 5min was in an opa downtrend so traded it only to be stopped @ b/e after a rebound again from the current 1hr pullback lo area
Next price sells down again to the current 1hr pullback Lo with 50% of the 5978-6131 (current daily hi) fib there,...clearly some demand there and a 3min regular divergence based reversal/pullback set-up and good ipa trigger with a 15min unvlalidated supporting set-up
The 1hr potential support and fib is here but the lower t/f's showed better that there was demand at that area around the 50% fib.
G/L
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bbmac
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bbmac
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Away for 1wk
I'm away from tomorrow onwards so will be finishing around here when this last 3min entry reaches target or stop.. Hope to be back next Wednesday late but this could slip till Friday, so I doubt I'll be posting here until week after next.....actually have just closed that 1127 3min trade here-minimum target achieved +. (now watch it go - Lol !)
They are playing Bruce Hornsby & The Range -The Way it is on the radio...takes me back !
G/L
I'm away from tomorrow onwards so will be finishing around here when this last 3min entry reaches target or stop.. Hope to be back next Wednesday late but this could slip till Friday, so I doubt I'll be posting here until week after next.....actually have just closed that 1127 3min trade here-minimum target achieved +. (now watch it go - Lol !)
They are playing Bruce Hornsby & The Range -The Way it is on the radio...takes me back !
G/L
MagicJohnson10
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have a good week...
bbmac
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Uk CPI/RPI - effect on gbpusd
Not doing much this week as away but just logged in on laptop to see Uk Cpi/Rpi etc data release and knee-jerk effects. Needless to say the data caused a knee-jerk move up (in an already bullish scenarion on the gbpusd pairing) followed by a shallow pullback and further leg up.
Price is now in the previous weekly swing hi zone from January 2010...6363-6463, (upside breech of the 2 x descending trend lines on that t/f) and has just broken to the upside of the 76.4% of the 7044-4229 move @ 6363 area and Mthly R1 @ 6374. Weekly R2 awaits at 6416 and I wonder how much supply in this previous wekly swing hi zone ? sufficient to cause a pullback (or more) in the uptrend ?? Time will tell.
BTW: Did anyone notice the great Bullish hammer closes on Friday's €$ Daily and Weekly candles ?..I don't usually deviate from gbpusd but it was an irrisistable buy..
G/L
Not doing much this week as away but just logged in on laptop to see Uk Cpi/Rpi etc data release and knee-jerk effects. Needless to say the data caused a knee-jerk move up (in an already bullish scenarion on the gbpusd pairing) followed by a shallow pullback and further leg up.
Price is now in the previous weekly swing hi zone from January 2010...6363-6463, (upside breech of the 2 x descending trend lines on that t/f) and has just broken to the upside of the 76.4% of the 7044-4229 move @ 6363 area and Mthly R1 @ 6374. Weekly R2 awaits at 6416 and I wonder how much supply in this previous wekly swing hi zone ? sufficient to cause a pullback (or more) in the uptrend ?? Time will tell.
BTW: Did anyone notice the great Bullish hammer closes on Friday's €$ Daily and Weekly candles ?..I don't usually deviate from gbpusd but it was an irrisistable buy..
G/L
bbmac
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Below current Low.
Precipitous fall then from the Previous weekly swing hi zone shown in post above...6401 the Hi in that zone, 6090 the current Lo from the fall. Looking to the downside below that current Lo, a 4 fib cluster between 6078-66 (3 of which shown on 4hr screenshot below, missing is the 38.2% 5745-6401.) marking the later end of a previous 1hr/4hr swing lo zone extending down to 6058 (also Monthly S1 pivot) where a Daily ascending trend line will come through tomorrow. Below here and 38.2% 5405-6401 is at 6020 with Weekly S1 @ 6018, before a previous 1hr/4hr/daily swing lo zone running 5990-5961 with a 3 fib cluster running 5997-75. Lowerdown 5902 -5899 houses 50% 5405 and 76.4% 5745 both to that 6401 swing Hi. 5890 is 23.6% of the main 4225-6401 swing. The 4hr ascending trend line could meet price anywhere from 6025 and above depending if/when they meet (ie one may be descending whilst one is ascending.)
G/L
Precipitous fall then from the Previous weekly swing hi zone shown in post above...6401 the Hi in that zone, 6090 the current Lo from the fall. Looking to the downside below that current Lo, a 4 fib cluster between 6078-66 (3 of which shown on 4hr screenshot below, missing is the 38.2% 5745-6401.) marking the later end of a previous 1hr/4hr swing lo zone extending down to 6058 (also Monthly S1 pivot) where a Daily ascending trend line will come through tomorrow. Below here and 38.2% 5405-6401 is at 6020 with Weekly S1 @ 6018, before a previous 1hr/4hr/daily swing lo zone running 5990-5961 with a 3 fib cluster running 5997-75. Lowerdown 5902 -5899 houses 50% 5405 and 76.4% 5745 both to that 6401 swing Hi. 5890 is 23.6% of the main 4225-6401 swing. The 4hr ascending trend line could meet price anywhere from 6025 and above depending if/when they meet (ie one may be descending whilst one is ascending.)
G/L
bbmac
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Planning
The above post represents part of my analysis of potential support/resistance/sbr/rbs factors on the t/f's above my intermediate (middle t/f.)..ie in the post above the analysis is for the downside of current price and current swing lo. In so doing I have already 'rated' the repeating combo's of such potential supp/res factors that occur on those t/f's so that I now know per that rating the combinations of repeating set-ups on my trigger (shortest) and intermediate (middle) t/f's that I need to look for should price test them. So the majority of the work is done...all I have to do now as price discovery takes place during tomorrow's session is to keep an eye on and rate the potential sbr/rbs factors on the intermediate (middle) t/f at which I would look for a trigger t/f hidden divergence based re-entry after a pullback of the intermediate t/f (+) trend, should such a trend exist/develop.
I remain convinced that planning is one of the key ingredients to trading success and in planning the trade, it is up to me to then trade the plan and not deviate. This of course is down to the psychological framework I have developed in trading this edge.
G/L
G/L
The above post represents part of my analysis of potential support/resistance/sbr/rbs factors on the t/f's above my intermediate (middle t/f.)..ie in the post above the analysis is for the downside of current price and current swing lo. In so doing I have already 'rated' the repeating combo's of such potential supp/res factors that occur on those t/f's so that I now know per that rating the combinations of repeating set-ups on my trigger (shortest) and intermediate (middle) t/f's that I need to look for should price test them. So the majority of the work is done...all I have to do now as price discovery takes place during tomorrow's session is to keep an eye on and rate the potential sbr/rbs factors on the intermediate (middle) t/f at which I would look for a trigger t/f hidden divergence based re-entry after a pullback of the intermediate t/f (+) trend, should such a trend exist/develop.
I remain convinced that planning is one of the key ingredients to trading success and in planning the trade, it is up to me to then trade the plan and not deviate. This of course is down to the psychological framework I have developed in trading this edge.
G/L
G/L
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