boldtrader » Thu May 08, 2014 1:56 pm wrote:dclayw » Wed May 07, 2014 3:50 am wrote:
Thanks for that comprehensive reply. OK, I see the target for the short trade and the subsequent long entry at 1.9370 based on the MST left open on 14/4 (high of the day 1.93685), hopefully I got that one right?? I think your initial short entry at 1.97078 is based on an MST way back on 9/3, is that right?, if so that one does seem very obscure. If I have those two correct then I might be getting somewhere. No idea what your short entry at 1.95973 is based on, I assume it's not based on an MST. Not sure how you arrived at the 1.9515 target for the long trade just completed. That level doesn't seem to be an MST either. I can see an MST at 1.9459 but that was a much closer target, why not close the trade at that MST?
Anyway, hopefully I'm at least on track in identifying these MST levels. Please let me know otherwise. Do you identify these MSTs just by eyeballing the chart, they are bit hard to spot, but I guess that comes with practise.
You also mentioned there was a key to this setup and activation of these targets requires a specific event and you posted info about this before. I read all your posts in the 10.6 Edsel thread at the time you wrote them, I don't remember reading about that. Went back and had a look at that thread again but couldn't find that info.
Many thanks for posting. Your style of trading intrigues me. Going to have a look at Gann octaves as well. I did actually read a lot of Gann's exotic stuff years ago, square of 9 etc. but never really put any of it into practise.
dclayw,
Thank you for the follow up questions and attempts at identifying MSTs.
The various price points of interest (PPOI) were 1.94002, 1.93948 and 1.93581. (remember, the exact pricing may vary from broker to broker. My clearing firm is ATCBrokers.) The long position was based on the latter of these three PPOI, and it is not from 4/14.
The entry short 1.97078 was based on 3/10/14, 00:00 hour and matching Level 7 Gann Octave Level . The 1.95973 position is based on several factors.. MST, 1.618 range fib extn co-joined with ATR channel and Level 6 Gann Octave.
The 1.9515 target.. a clear MST. I will help you with this one.. look at H4.. 4/28/14 00:00
Not sure what you are looking at with the 1.9459.
Special event.. it's there.. but then again.. I can't give away all of my trade secrets, at least not so clearly.
I am short GN, with a TP @ 1.9450 and 1.9415/07. Both will be hit. I have placed 3 positions on so far, with the most recent @ 1.96145.
I am also accumulating short on GBPUSD.. with position @ 1.69753 with a TP starting at 1.6922 and will trail down to 1.6888. Current gain is about +25 pips. If price does not cross the TL down, then I will close, take the gains, make new long for an up move to 1.7035 up to 1.7085; take those gains or at least appy a trailer for a higher move. I will then monitor pricing at Gann levels and TL levels. If the TL is broken, then will begin accumulating for reversal down to the MST at 1.6888 TP level. It is very probable that GU will see 1.7229/35 and later on up to 1.7406. So I will monitor the long position and try to keep it as long as the signals are in tune and strong. Longer term, after the 1.7406 has been hit.. I expect to be able to begin to accumulate for the target of 1.5735.
What if I said that I was looking for the EURUSD to move up to 1.5610? and.... that there will also be a time when the EU will break down, with a target of 0.8872. This level is years away, but it will happen, which means there will be a major collapse in the EU economy. So imagine selling 1.5610 area.. and holding that position short until 0.8885 level. Don't laugh and dismiss the idea.. If I explained the specifics to you with details, you would understand.. and go Holy MT4Batman.. ok.. ok.. you can stop laughing now.. and calling me crazy.. Got love those MST's..
Cheers.
Could you give me some advice on any thread dedicated to MST levels? I would like to study the basis. Altough I have read a couple of books on Gann´s live and theories I have never praticed the octaves and I feel a little lost looking for information on the web. I have some Murray lines indicators but I have no idea of how to integrate them to my trading. Do you use the default 64 period?
