Comprehensive Trading System/Methodology

[bbmac]

Tried downloading your template again but do not seem to see the Fib Channels only the silver channel

Hmm.. Did I get something wrong?

The fib Channels appear only on the (optional) 5min small chart not on any of the main charts...Currently there is a problem with T2W, so cannot upload the template again, but on all the main charts you should have in the main price window

1. Price
2. bolnocl set on 10/2 20/2 40/2, 60/2
3. FutCh line of silver Channels indicator 9forming the Supp/Res channels) set on 61.8, 161.8 (261.8, 423.6)
4. Fib tunnel (optional) on 30min, 1hr, 4hr
5. Pivots (optional)

 

[babymush]

by the way, from the diagram I posted, it seems that the 61.8 channel is higher than the 161.8 channel ... is it possible?

 

[bbmac]

Sorry seen it....



From my diagram with the silver channels in, it looks like the 61.8 is breached right? Did I see it correctly?

But of course as you said there is no supporting reversal or re entry setup in the 5 mins time frame. Right?

yeh looks like it [by the way you need to colour black all other lines 0 -5 in the silver channels properties, colours tab other than lines 6 & 7...it will be a lot clearer then...just leave lines 6 7 7 which are effectively the Fut Ch lines that make up what the 61.8 etc Supp/Res channels.

So decent enough 1min set-up...well done but no 5min supporting set-up.

 

[bbmac]

by the way, from the diagram I posted, it seems that the 61.8 channel is higher than the 161.8 channel ... is it possible?

just re configure them under the properties of the silver channels as explained above in post 99 above, so look like screenshot below

green dotted..61.8
red dotted...161.8
wide red dotted....261.8
and you can add 423.6 as well if you are trading jpy pairings.

 

[bbmac]

Babymush, there follows an example of a 5min re-entry set-up (Re-ent 4) that confirmed a 1min trigger set-up. Note that the hidden div in the oscillators occurred at a lower price swing in the downtrend, not at a higher price swing from where you are measuring the hidden div as in your example trade discussed in posts above.

Hope it helps

G/L

 

[babymush]

I get what you mean. I will edit each silver channel and place into the FutCh the value like 61.8 and edit the color and the type of line to be drawn to what you spoke.

So if I am trading JPY I will use 4 Silver channels instead of just 2.

By the way, why do I have to add the 2 silver channels for JPY? So I will ignore the 61.8 and 161.8 if I am trying JPY crosses?

 

[bbmac]

I get what you mean. I will edit each silver channel and place into the FutCh the value like 61.8 and edit the color and the type of line to be drawn to what you spoke.

So if I am trading JPY I will use 4 Silver channels instead of just 2.

By the way, does all your charts templates 1min small main, 1 hour 5 mins etc have the silver channels and I have to change all of those?

All the main chart templates on all time frames contain the support/resistance channels (from memory just the 61.8 and 161.8 ) so you may have to add the 261.8 and 423.6 particularly if trading the jpy pairings. I don't know why those other lines are showing, you will just have to colour them black in the colour tab of the properties manually (ie black out lines 0-5, then - lines 6 & 7 being the FutCh lines of the Silver Channels indicator that are used as Support/Resistance Channels in this system/methodology)

 

[babymush]

Yes BB thank you. I was not too bothered about the 5 mins chart as I saw that there was a SBR at the 30mins and assumed that the Extreme Reversal pattern + SBR in the 30 mins should be sufficient

Am I wrong to do that?

 

[bbmac]

No, this is not sufficient as you identified the potential sbr on the 30min trend t/f, remember you drop down a time frame to find hidden divergence into a trend, (ie in this case the 30min trend,) so the 5min was the chart on which you were looking for a hidden divergence based re-entry set-up/pattern to support the lower 1min trigger Rev Extr set-up/pattern. Had you identified the potential sbr on the 5min chart into the 5min [+] trend it would have been a 1min re-entry set-up you would have sought.

 

[bbmac]

Hidden div Re-entry set-up into the next time frame trend [+] at the next t/f's potential sbr/rbs area, for eg

a. 1min hidden div based Re-entry set-up is best at a 5min potential sbr/rbs zone into the 5min [+] trend, with 5 and 30min macd hist above/below the axis in an uptrend/downtrend respecvtively

b. 5min hidden div based Re-entry set-up is best at a 30min potential sbr/rbs zone into the 30min [+] trend, with 30min and 1hr macd hist above/below the axis in an uptrend/downtrend respecvtively. This 5min re-entry co-existing as a 1min Reversal set-up.

 

[babymush]

Thank you. Will continue trying to understand the system but I guess I am making headways. Will post more of my entries here and hope for your guidance

Thank you

 

[bbmac]

Thank you. Will continue trying to understand the system but I guess I am making headways. Will post more of my entries here and hope for your guidance

Thank you

No probs, G/L

 

[Dentalfloss]

if my chart is right.price never broke the support to head down for an extreme reversal

 

[babymush]

Thanks for the comment. However, that would depend on where you determine support (Resistance) to be at as it was quite a large range.

 

[babymush]

Hi BB would just like to check something with you on the Re Entry setups.

Sometimes when I am looking for a re entry setup, I wonder if I should wait for the 20 Bol to move inside the 10 Bol or should I just Buy or sell when there is a reversal candle?

2 of your 4 setups require the 20bol to move inside the 10 bol while the other 2 does not

Thank you for any advice.

 

[babymush]

Trade Entry Did I make a mistake

Hi

I just went into AUD USD currently Long based on 3 charts 5min, 15min and 30 min

Please see if I made any error in selecting this trade







Thank you

 

[bbmac]

Hi

I just went into AUD USD currently Long based on 3 charts 5min, 15min and 30 min

Please see if I made any error in selecting this trade

Agaain I don't trade the audusd but looking at your charts and some of my own in terms of potential support, i would comment as follows

a. I do not see any potential support in terms of previous swing hi/lo zones on the trend t/f
b. The 5min is not a set-up. For it to be a rev Aii you would need 40bol flipped inside the 10 and 20, and for a rev c you would need the 60 inside 40 when the 10/20 flip happens.
c. I see no 1min trigger set-up
d. what trend was the 15min and 40min re-entry set-ups re-entering? at time of your decision tio trade there was a 30min - 1hr downtrend to range if anything, certainly not an uptrend at that point
e. Both 30min and 1hr macd hists were below the axis at point of entry.

Bad luck....you need more than just divergence.

 

[bbmac]

Hi BB would just like to check something with you on the Re Entry setups.

Sometimes when I am looking for a re entry setup, I wonder if I should wait for the 20 Bol to move inside the 10 Bol or should I just Buy or sell when there is a reversal candle?

2 of your 4 setups require the 20bol to move inside the 10 bol while the other 2 does not

Thank you for any advice.

Read Part III again on post 74 in this thread....the best advice is that as price retraces a Re-entry 4, 1 then 2 may set-up, ignore the ones that are not at pre-identified potential sbr/rbs on next t/f up +, and trade only the ones that set-up at such, all other conditions being met.

G/L

 

[babymush]

a) Would that point not be considered as Resistance Become Support?

 

[babymush]

b)

Is this considered under Aii Reversal or am I getting something wrong