BBmac's occassional thread

[bbmac]

warning sign?

putting me off a long is bearish divergence to the 30min t/f but will see what develops up until 3pm.

 

[bbmac]

3/15min combo

Averting my view to the 3min/15min t/f combo (from 1min/5min) there was a hidden divergence based 3min set-up at the 15min potential rbs confluence with 50% of last 15min move up to current daily hi/23.6% 6026-6150-current daily hi..but it came @ a potential LL on the 3min t/f-co-existing with potential HL on 15min, so not an optimum place re overall price action on the t/f being used as a trigger for market entry....I therefore waited for 1440pm 5min candle to close but I didn't re-enter.. it was a hammer/PB that followed a hammer but it had a bearish body..

 

[bbmac]

Had to wait for a 15min trigger

I knew there was a trade there somwhere, had to wait for a 15min trigger and has just seena with trend follow thru to a new daily hi...look at the wicks on those 4 15min candles..50% of the last 15min move up as well as 23.6% of the 5026-6150 move there as well at the potential rbs zone connfluence.

G/L

 

[bbmac]

1hr inverted H&S target

6206 remains the 1hr inverted H&S target. (discussed in a previous post today.)

G/L

 

[bbmac]

Monday a bullish day ?

Couple of hours to go yet but a likely daily t/f bullish candle close today following Friday's PB/Hammer candle as discussed earlier in this thread today, and the resulting inverted H&S pattern on 1hr also discussed earlier in this thread today....Current and likely Hi today 6199 as price just pops it's head above a 1hr previous swing hi zone (Thursdaylast's pullback Hi,) confluence with the 100sma on 4hr and the underside of the breeched daily ascending trendline, 61.8% of the 6343-5975 move around the Hi too @ 6202.

Above the Current Hi a couple of previous 1hr swing hi zones and 2 x previous 1hr/4hr swing hi zones too, thenearest being a previous 1hr/4hr swing lo/hi zone (ie previous support breeched to the downside that turned to resistance on a retest from that underside.)

6255 is 76.4% of the 6343-5975 move, 6288 the Weekly R1 pivot.

G/L

(PS: I was feeling quite pleased with myself after today's trading - up until watching University Challenge [BBC2 2000hrs]..Scores were as follows: Oxford Brookes 190, York 195, BBmac 10. It was a close run thing Lol ! Next time I will answer Shelley, Keates, Byron or Puccinni on alternating questions and I am bound to get more right !)

 

[bbmac]

New market Wizards

I'm re-reading New market Wizards atm, (Jack D schwager) some great stuff in it...I love the line '...There are 1million trading edges and all of them are difficult to find...'
G/L

 

[bbmac]

4hr

Final update/look of/at 4hr before I power down for the night.

G/L

 

[bbmac]

Strong sell-off in overnight

Strong sell off from yesterday's 6199 Hi in the overnight asian session continued into early london after a pullback...price finding some demand currently off current daily lo at
6050.

Current near-term 1hr screenshot below.

G/L

 

[bbmac]

price extended early

Price today is already @ 105% of it's average 20day pip range..yesterday too was an above average day...see-ing some widening of the daily pip range recently a after a contraction...20day average now 134.

G/L

 

[counter_violent]

Re: price extended early

Price today is already @ 105% of it's average 20day pip range..yesterday too was an above average day...see-ing some widening of the daily pip range recently a after a contraction...20day average now 134.

G/L

Do you have a gizzmo that calculates ranges....or is it all manual ?

 

[bbmac]

Potential near-term support factors below Friday's low

As shown in 1hr pic below below the previous 1hr/4hr swing lo leading to Monday's Lo is similar leading to Friday's lo then below that:

5962/61 38.2% 5343-6343/ Daily S1
5942 76.4% 5818 and 38.2% 5290 both to 6343
5923 Weekly S1
5874 50% 5405-6343
5853 Monthly S2
5650/44 23.6% 4225- with 50% 5343 both to 6343
5835-18 Previous 4hr/Daily Swing Lo zone with 50% 5290-6343 @ 5820

G/L

 

[bbmac]

Re: price extended early

Do you have a gizzmo that calculates ranges....or is it all manual ?

Hi CV

I do have an MT4 custom indicator ,it is attached...it will calculate whatever daily, weekly and monthly average range you want to set it to.

G/L

 

[counter_violent]

Re: price extended early

Hi CV

I do have an MT4 custom indicator ,it is attached...it will calculate whatever daily, weekly and monthly average range you want to set it to.

G/L

Cheers i'll have a play with it...might load the indicator too !

 

[MagicJohnson10]

hello bbmac...

how's the market wizards going?

i got caught out earlier trying to renter long the H1 hidden divergence
at that H4 RBS...61&50 fibs...at HH HL

just wondering if the daily timeframe should have been factored into the
equation...it was showing a LH and a potential HL?

I thought i had a sneaky entry timed down to the M1 chart...
and then the M30 close then blew me out of the water...

did i miss something in the approach?
I cant seem to grasp the collection all at once to gauge the higher probability?
or what should recieve priority?

any adivce you can offer?

i'm a bit one & a half steps forward and one back...

 

[bbmac]

Hi

Enjoying the New Market Wizards again, good stuff in there although scenarios are a little dated now...also recommend Inside the House of Money - Steven Drobney, and Hedge Fund Masters - Ari Viev.

I don't see any 4hr potential rbs @ 6100 ?.. (6095-88 is what I see on 1hr/4hr-a previous swing hi zone) I also don't see a 1min set-up where price rose from just above there to form that 1hr PB, but there was hidden div there @ a L on 1hr...(as there is now @ a potential LL on same t/f)

One of my filters for entering a trend after a pullback is that for eg if entering a trend on the 1hr trigger (even if timing entry on 15min or below) it has to exist on at least the 4hr and preferably above..and at clear potential sbr/rbs confluence on 4hr but I don't see it here nor do I see the 1min set-up from which you timed the entry. Also if you entered on 1min I would have had my stop to b/e so that 30min bear thrust candle that blew you out didn't do any more harm than take you for B/e (it was after all a 40pip pullback.)

I don't trade in my overnight/asian session when this was.

G/L

hello bbmac...

how's the market wizards going?

i got caught out earlier trying to renter long the H1 hidden divergence
at that H4 RBS...61&50 fibs...at HH HL

just wondering if the daily timeframe should have been factored into the
equation...it was showing a LH and a potential HL?

I thought i had a sneaky entry timed down to the M1 chart...
and then the M30 close then blew me out of the water...

did i miss something in the approach?
I cant seem to grasp the collection all at once to gauge the higher probability?
or what should recieve priority?

any adivce you can offer?

i'm a bit one & a half steps forward and one back...

 

[MagicJohnson10]

this is the h4 zone i was referring to
is that not rbs... before it broke to the downside...?

 

[bbmac]

this is the h4 zone i was referring to
is that not rbs... before it broke to the downside...?

View attachment 105352

yes it was potential rbs but 2 points:

a. your 1min entry was away from that, ie above it...ie price did not interact with that swing hi before the pullback (it was above it.)
b. It was a minor swing hi, ie only a minor imbalance of supply/demand caused a small drop before price continued north, so effectively only 'minor potential rbs.'

G/L

 

[bbmac]

Bears seems strong atm

Pullback from 6050 created an imperfect 3min hidden divergence based Re-entry (to 15min [+] downtrend after the pullback set-up) @ 0854 but waited for the 15min trigger = 2 x inverted hammers closing as a 30min PB/long legged doji closded too..@ 0900...price has sold through the Monday Lo now.

G/L

 

[MagicJohnson10]

i think you have taken my 61&50 fibs as 6100 entry

i meant 61.8 fib and a 50 fib there in that zone...

below is the point where i entered..
i didn't catch a chance to get to break even...

 

[bbmac]

Sorry I see it now, I thought you meant earlier....I don't see one of my set-ups there per your 1min screenshot...it may be one of yours, it isn't one of mine.

G/L

i think you have taken my 61&50 fibs as 6100 entry

i meant 61.8 fib and a 50 fib there in that zone...

below is the point where i entered..
i didn't catch a chance to get to break even...

View attachment 105358