Here to help you.RyuHayabusa wrote: ↑Tue Jun 25, 2019 6:26 amSo, here's what I got (WIG) and what I didn't (WIDG) till now using an example in today's european session trading GBP/USD:
I'm using a 4-step method that consists of:
1°.: Making a S&R analysis from the Weekly to the Hourly timeframe (as amdudus already pointed this out to us, so no questioning here).
2°.: Finding strong support and resistance levels to set the possible scenarios throughout the trading session by using the Gann indicator ALONE in the DAILY timeframe. I'm choosing the five closest levels to work with (the closest level in relation to the previous day closing price, two above and two below this level), as you can see in the first picture pointed by the blue arrows.
WIG: Using this indicator, it let you see the possible (and most probable) movements for the day, and in cases that you don't have the levels from the indicator, you can just use the candles extremes from previous days (to be even easier, I'm using the fractals, as pointed by the red arrow in the first picture) to pinpoint the best places to put the lines. It works really well. The levels should be TESTED or BROKEN to determine the next move to be possibly traded.
WIDG: Do you use ONLY the Gann indicator for this part or do you use anything more (especially the Murrey Math levels)? Do you use only the DAILY timeframe or, as with the naked chart analysis, you scroll down till the H1 timeframe? Are my levels right/in the right place?
3°.: Look for TESTS or BREAKS of the previously mentioned levels on the 30 MINUTES timeframe. The levels from the Gann indicator that I chose previously are indicated by the yellow lines and yellow arrows, and the possible trades are pinpointed by the vertical green lines in the second picture.
WIG: If the candle closes over the level, it have been breached and the continuation of the movement in the same direction of the break may occur.
WIDG: Do you watch for something else to determine the most probable movement in this timeframe (like the divergence indicator, for example, or something else (?)), I mean, as to determine if a break is valid or if a test is more probable to reverse than others?
4°: Look for ENTRY points on the 5 MINUTE timeframe.
WIG: I was waiting for divergences and fractals to pinpoint my entry points AFTER a BREACH or a TEST (green vertical lines) of a level. For example (see third picture):
1° possible SELL signal - AFTER 10:55 candle - NO ENTRY SIGNAL - NO WIN/NO LOSS
2° possible BUY signal - AFTER 11:25 candle - NO ENTRY SIGNAL - NO WIN/NO LOSS
3° possible SELL signal - AFTER 11:55 candle - NO ENTRY SIGNAL - NO WIN/NO LOSS
4° possible BUY signal - AFTER 12:25 candle - NO ENTRY SIGNAL - NO WIN/NO LOSS
5° possible BUY signal - AFTER 12:55 candle - NO ENTRY SIGNAL - NO WIN/NO LOSS
6° possible SELL signal - AFTER 13:25 candle - NO ENTRY SIGNAL - NO WIN/NO LOSS
7° possible SELL signal - AFTER 14:55 candle - NO ENTRY SIGNAL - NO WIN/NO LOSS
8° possible SELL signal - AFTER 15:55 candle - SELL ENTRY SIGNAL - LOSS (til now)
9° possible SELL signal - AFTER 18:25 candle - SELL ENTRY SIGNAL - LOSS (til now)
10° possible BUY signal - AFTER 19:55 candle - BUY ENTRY SIGNAL - WIN (til now)
WIDG: Do I need to watch something else to do my entries? Can I look only for fractals to do my entries, and if so, when is that acceptible?
Apart from all that, I have other questions:
a) Did I chose the wrong pair, accordingly to the Currency Strength Meter?
b) As you've said previously in other posts, the Fibocalc and the Pallada will determine the direction of the next move, but the Pallada is different in each timeframe, so do I need to follow the Pallada indicator in which timeframe?
c) Which timeframe is best to use the Forex Polynom Vision indicator?
d) Could you detail more the Rule 5 from the previous posts?
e) Could you also detail how to determine the daily level to watch for throughout the day?
f) And the most important question: IS MY ANALYSIS CORRECT? hahaha
WOW, THAT WAS A LONG POST! hahahaha But I decided to post it here so more people could learn this amazing method, because it generates a ASTOUNDINGLY IMPRESSIVE WIN RATE by combining TECHNOLOGY with PRICE ACTION. Thank you again for all your help, amdudus. All of this analysis couldn't be done without your help.
The two lower indicators were not yet in operation. I will send them by mail.
These are "home" modifications.
One of them sets the minimum and maximum values automatically.