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Gann Ribbon 10.7 System
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3524		 Page 8 of 37
Author:  slowkey [ Wed Apr 16, 2014 7:25 am ]
Post subject:  Gann Ribbon System
The markets are very jittery making the pairs rather horizontal and non-trending. Smart money is very wary right now.

Any signal you take must be supported by volume and the ribbons. That will be fundamental with the integration of 10.7. An entry signal does not mean trade it means confirm.

Look at this URL and you will see why.

http://money.cnn.com/data/fear-and-greed/?iid=SF_INV_FG

Happy Trading
Doug
Author:  slowkey [ Wed Apr 16, 2014 12:41 pm ]
Post subject:  Gann Ribbon System
30 minute chart with a consolidation with a false break and break out. Each one had an explosive looking volume signature with the second one breaking free. Yet will it hold or will it become a false break out too. The second one could have been taken for a few pips. I think I would have used the ribbons to filter out the first one. The stochastic is doing its job but you are not going to take every potential trade it alerts you to.Five time periods are involved in this consolidation so there is a lot of stored up potential in it. However although this pair can trend nicely at times it is not a big mover.
eurgbpmm30 false breakouts.png
Author:  SWG123 [ Wed Apr 16, 2014 1:59 pm ]
Post subject:  Gann Ribbon System
Doug, can you explain how the ribbons could have been used to filter out the first break? Would be useful to see it through your eyes.
Author:  SWG123 [ Wed Apr 16, 2014 2:22 pm ]
Post subject:  Gann Ribbon System
I should have a stab myself - at the time of the first break, the blue H1 ribbon had not crossed over. But when the 2nd break occurred the grey and blue were ordered. is that it?
Author:  eevra [ Wed Apr 16, 2014 5:10 pm ]
Post subject:  Gann Ribbon System
Hi Slowley.

Thx for the indi/templates in pg1.
I downloaded all the indis etc., into the data folder of Empty4 build 625.
But I do not get any ribbons in any TF?
I tried with all the templates.
what I am doing wrong ?

pls help me.
thx

eevra
Author:  slowkey [ Wed Apr 16, 2014 6:09 pm ]
Post subject:  Gann Ribbon System
SWG123 » Wed Apr 16, 2014 10:22 am wrote:I should have a stab myself - at the time of the first break, the blue H1 ribbon had not crossed over. But when the 2nd break occurred the grey and blue were ordered. is that it?
Good observation and question,
The crossovers are still on my to do list but you may have discovered something here. Also it can be noted that on the four hour the white edge is on the bottom so it is already in a bearish direction so it may take the cross of the blue than to get things rolling. Also by the second Stochastic trigger the Blue ribbon is widening and headed at a steep angle downward.

There may be special cases where they are very helpful. One of those cases may be in a consolidation like this. So this may need to be added to Law 1. This would be great if we just found an easy way to observe for false breakouts. This is what is fun about the ribbons they are new and keep revealing themselves. The lower couple of time period ribbons would have to move first in a real move for sure so you might expect a crossover on the blue next after the gray.
Before looking at Law One again you have to ask your self what is EURGBP. It trends nicely at times but it is generally a narrow range pair. A daily average this week of 32 and and high to low today of 48. It is not going to produce big pips but still it will obey the laws.

Remember law one and my note ... just a part of it below.

When price rises from or falls out of all zones at the same time (especially when they are very narrow
and close together called Confluence) it’s going to be a high probability trade.If price goes into a black
area the setup is perfect for the simple reason that there is no chance of a price rejection by any of the
other ribbons.

NOTE: Be conscious that price might be trapped in this zone of Confluence by multiple ribbons related to
traders not agreeing on price direction for some time.

To my post I was thinking of Law one. You have to be looking for false break outs so the Stochastic gives a nice signal and you have some nice volume bars but price is not in a position to fall out of confluence when this all starts. By the time you get to the ocean below price had exhausted its self by having to get through all five time periods. So I would not take a trigger on the stochastic if it was all the way at the top of the consolidation. Which raises the other issue. This consolidation is not very compacted yet but after the first trigger and the blue cross it will become very compact overlapping and narrow. On the first trigger when price finely fell out of the consolidation volume was dropping off. On the other hand the Stochastic the second time gives a strong signal at the lower edge of a very compacted consolidation and like you say the blue has crossed and will be following. The daily is also in this bundle of ribbons so this is a powerful bundle of time you might say. If you think of S/R as a zone and not some line on a chart price really does not free its self from the consolidation the first time. When it retest it is stuck to it like a magnet until it rejoins the bundle. It stays near the bottom of the consolidation once back in the bundle. Than the second time Huge volume frees it even though there is a retest. Even bigger volume come along in three huge white bars to start momentum into the ocean. Why not a bigger trade. Narrow range pair. CSS not extreme between the pairing. We might want to include "expect a retest" as part of law one because you are going to usually see one. If you waited for a retest of the consolidation on the second trigger you could have got a great entry in the ocean. So maybe retest should be part of the law one definition exceptions being news. Law one was conceived trading the one minute by John. My notes are an attempt to explain better how this may translate to the higher time periods. It is a start but a work in progress. This law will need rewritten to be more specific and to accommodate new insights but these are being narrowed down. It will just take some patience.
eurgbpmm30 steve.png
Author:  slowkey [ Wed Apr 16, 2014 6:47 pm ]
Post subject:  Gann Ribbon System
My goodness Steve I just noticed that the second trigger was when all that news Data would have hit the GBP early this AM. It also convinces me more that UK traders have inside knowledge on these reports if you look at the volume build up and signiture.

Doug
Author:  SWG123 [ Wed Apr 16, 2014 7:00 pm ]
Post subject:  Gann Ribbon System
Yes, I've also noticed that before regarding UK news.

BTW, I want to say thanks for reminding me about better volume. I've tried to use it in the past but my VSA skills weren't sufficiently developed. You've opened my eyes now - I'm starting to see why you wouldn't want to trade without it.
Author:  rosst [ Wed Apr 16, 2014 8:57 pm ]
Post subject:  Gann Ribbon System
eevra » Wed Apr 16, 2014 11:10 am wrote:Hi Slowley.

Thx for the indi/templates in pg1.
I downloaded all the indis etc., into the data folder of Empty4 build 625.
But I do not get any ribbons in any TF?
I tried with all the templates.
what I am doing wrong ?

pls help me.
thx

eevra
Somebody already answered this a few pages ago... install exe file not the Empty4 file...
Author:  tommiho [ Wed Apr 16, 2014 9:30 pm ]
Post subject:  Gann Ribbon System
Hi Slowkey,

I can feel your wheels turning. It all sounds very exciting.
There is a few people who can write about trading here on SHF, like Bob and Captain, you are one of them for sure.
I wanted to ask you if you could to go in to a more idiot proof detail about usage of volume indi.
I am comming across it from time to time and always trying to work around it, but I can`t put it off forever and it seems you know your volume ;).
I just can get my head around it, like for instance why there is exaustion bar not close to the top or bottom, all those churn bars and so on.
Just don`t want to guess all the time and since the volume looks like vital part of the system it would help a great deal to grasp it`s meaning properly.
Would you have a time to explain it on chart of your choice?
Thanks very much.
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