School of Pimpology - Page 110

FX Pimp · #**1091** (**permalink**) 10-11-2008, 08:17 AM

Quote:

Originally Posted by stratocaster59

Now on to the CCI 252 and your statements "Never go against the CCI 252" and "Never fight the CCI 252".
In this Crude trade, the CCI 252 has been negative and under zero for a while confirming the "short" side. If we follow your advice, we would never ever take this long, counter trend trade.
I know that all rules are there to be bent and every counter trend trade carries with it significantly more risk.

However, my paralysis analysis also tells me that even though the CCI 252 is negative and below zero, it is RISING with prices getting shallower and bottoming. Similar to the MACD, where the best entries are at maximum displacement in the opposite direction, do you look for the CCI 252 to be rising from an extreme low and then where it crosses -150 or -100 do you look to go long, counter to the trend?

And, when divergence is present, the CCI 252 could be rising while prices are still falling or levelling off bringing us on to my other subject of CCI Divergence in my emails. Normally, divergence supported by other signals and indicators, is a good indicator, except of course when the trend is strong.

If only I could start doing and stop thinking! Please sort me out O Master of the Pips!

Muchas grassy ass!

Robert

Sorry I didn't reply earlier. As the thread has grown so has the amount of private messages and emails and "how long is a moving average" questions.
I do try my best to get round to everyone, really I do.

252 is your best friend in the world ever vol. III
Trade against it at your own peril.
think about it. In a downward trend on a 60m chart, what happens when after a little fall and a retracememnt back to the 20ema ?
It usually bounces off and goes another 200 pips south right?
If you don't beleive me, go ask Euro or Sterling or Ozzie Dollar. They'll tell you.

The 252 0.0 line IS pretty much that 60m 20ema. By all means try trading against it. It does work. SOMETIMES !!!

They key word here is sometimes.

We are about to start working on some defined statistics with this, but I would say from experience that 4 in 10 times playing against the 252 will cost you money.
Sure if you add other factors in like lower lows in price, but higher lows on 252 then maybe you can play the divergenge game.
All we are trying to achieve is low risk, high probability trades for "newbies".
I will do an advanced section on this thread since many of you are getting very used to it.

I hope this helps.

FX Pimp · #**1092** (**permalink**) 10-11-2008, 09:08 AM

Now I am not a big fan of fundamentals. Nor am I a fan of so-called experts on one side of the fence calling Crude oil to $200, whilst the other side are calling it to $50.
Being no expert myself I am more a 'trade what I see' type.

Many analysts are calling gold back up to $1000 and beyond. Some are as bold as to call it to $1800 as people seek a safehaven for their money.
I'm just wondering whether they are right.
If you had a bank and were going broke, but all your deposits were backed by an equal amount of Gold what would you do?

Personally, I'd take the loot and run for the hills but I suspect that a lot of central banks that have not already done do will be outing some of their wares in the forthcoming months.

This weekly chart clearly demonstrates that Gold has been supported heavily since 2005.
However, since about May of this year it has been making lower highs too and a nice resistance line is coming down from the $1030 levels of the beginning of the year.
Now from this we can gain an insight to what is likely to happen over the forthcoming weeks.
We will either :-
Breakout of the top
Breakout of the bottom, or
Range with support and resistance.

My feelings are that it will push higher, but my chart tells me it's about to push lower, much lower.

Why?
The price has fallen below the 20ema (pink)
The 20ema has now fallen below the 50sma (light blue)
This is a brearish signal and both are now acting as a double protection resistance to the upside.
Price has bounced off the supprt line and the monthly 20ema (bold red)
but has struggled so far to put a dent in the armour of the 20 under 50 mentioned above.

The monthly 84 CCI is still in positive BUT If next weeks Heiken ashi is a red one, be prepared.
These last few greens have hardly been bullish and this could be a 1-2-3, which could smash the supports and go $600 !

Have a good weekend.

rollingstone · #**1093** (**permalink**) 10-11-2008, 09:47 AM

Hi All

Did anyone in the UK see "Paul Merton in India" on telly last week?

Well, Delhi is overrun with errant, cheeky street monkeys which terrify the locals so they have The Monkey Squad, government employees to chase them away - yep, bigger "take no prisoners" Langur monkeys that steam in shouting abuse and send them packing. They were real mean dudes who strolled in and loved their job. Those cheeky little monkeys just scarpered to the next neighbourhood mind you, and then the heavies have to go down the road and start again.

Ooo ooo ooo Monkey Magic.

FX Pimp · #**1094** (**permalink**) 10-11-2008, 11:50 AM

GBPUSD to 1.6000 ???
USDJPY to 78.00 ???
GBPJPY to 148.00 ???

Monkey Madness ??

Maybe, but that's the content of our 1st ever weekly newsletter.
Gain our insight into Gold, Oil, the Majors, The Indices and much more to come as we develop this token of appreciation for your support on here.

Just send me an email entitled : 'Newsletter' and I will add you

Muchos Gracias

pilatus · #**1095** (**permalink**) 10-12-2008, 05:39 PM

First of all thanks for you mail in which you send me indicators and tpl. I am new to this thread and system so I decided to read the whole thread which I tried, but I think that it would be easier if you have some pdf or materials to read. Generally I got the point of this system but teacher is teacher and knows always a "little bit more" than student. So, do you have some recommendation what to read to learn this fantasitic system?

rollingstone · #**1096** (**permalink**) 10-12-2008, 09:28 PM

Quote:

Originally Posted by pilatus

I am new to this thread and system so I decided to read the whole thread which I tried, but I think that it would be easier if you have some pdf or materials to read. Generally I got the point of this system but teacher is teacher and knows always a "little bit more" than student. So, do you have some recommendation what to read to learn this fantasitic system?

Hi Pilatus

Welcome to the thread, it's always good to see new people posting.

You want enlightenment, and you want it now, but you have to take the journey and suffer to attain it.

Read the thread, and read it again, and then read it again. Only then will you fully understand this fabulous system, and only then will you fully understand the wisdom of The Pimp's teachings.

There's no easy short cut I'm afraid - just hard work and studying, then you will get there. Join the Monkey Chat room if you can, learn from Dan and Pimp and soak up the atmosphere and wisdom from your fellow students too.

Good luck.

RS

pilatus · #**1097** (**permalink**) 10-12-2008, 10:32 PM

Quote:

Originally Posted by rollingstone

Hi Pilatus

Welcome to the thread, it's always good to see new people posting.

You want enlightenment, and you want it now, but you have to take the journey and suffer to attain it.

Read the thread, and read it again, and then read it again. Only then will you fully understand this fabulous system, and only then will you fully understand the wisdom of The Pimp's teachings.

There's no easy short cut I'm afraid - just hard work and studying, then you will get there. Join the Monkey Chat room if you can, learn from Dan and Pimp and soak up the atmosphere and wisdom from your fellow students too.

Good luck.

RS

HAHAHAHA ok buddy this is what I thought. I am using another system and I know it very well what you are trying to say. I did the same thing when I was learning that system. Ok no problem, I just thought that there si maybe some explanation of that that system with expirience included. Thanks anyway.

FX Pimp · #**1098** (**permalink**) 10-13-2008, 06:40 AM

With a slightly dizzy head, the Pimp is struggling a tad this morning, so will keep this short and sweet.

Gold is liiking weak and may fall from it's current $859 to the monthly pivot$850.
Can't really touch cable although it looks quite good to the upside, as does USDJPY.
Not pulling up a GBPJPY chart but my guess is there is an opportunity for a little long on that pair.

Other than that I think that today will be relatively quiet with a U.S holiday there maybe a lot of players this side of the pond doing exactly what I should be doing, which is having the day off and a little lay-in.

More later.

Poorly Pimp

FX Pimp · #**1099** (**permalink**) 10-13-2008, 10:37 AM

Quote:

Originally Posted by FX Pimp

Can't really touch cable although it looks quite good to the upside, as does USDJPY.
Not pulling up a GBPJPY chart but my guess is there is an opportunity for a little long on that pair.

The football strategy works once again for a cool relaxing 120-130 pips.
Hope some of you took it. I didn't, sadly