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[firefly]

Kronos,


Things started happening with my eurusd long so I didnt get a chance yet to see those comparisons. I did go to the web page but did not get where I needed to go to see the examples.

In Elliott Wave and Dynamic Trader terms I am looking at a wave B move up to the 2080 to 2140 area which is both a median line area for DdT and a wave B end of wave target.
There are those who are predicting a big drop in the next couple of days and then a ride back up, but I dont see it on anything I am using. Are you familiar with Delta Phenomenon? I am working on pairing up Delta with Fib Time and correlating with fib price through EW/DT

Firefly

[Kronos362]

Hi Firefly. PLEASE go to livecharts.co.uk, and you will see exactly why things started happening with your long EUR/USD trade. I swear you will laugh when you see how the market works. Look at the live brent oil chart and have a look at what happened as soon as Japan opened. The price of oil rocketed up in the space of a few minutes and then the EUR/USD moved accordingly a few minutes later. It is uncanny and I think I might be onto a new strategy. I'm not going to trade at all unless there is a significant movement in oil and then I will immediately place the appropriate trade for a quick 50 pip gain.


Have a look and tell me what you think... I'm really sure that this is the way to trade succesfully. To just wait until oil shifts more than normal and then to place the appropriate trade immediately. This only work on the short term trades, but it works very well and all the time. This will mean that you watch the Brent oil and EUR/USD graphs travelling side by side and as soon as oil shifts, you jump on board for a quick trade. Times to watch will be opening and closing US, Asia and Europe hours.

[firefly]

Kronos,

I am looking at both, side by side. What timeframes are you using? I am on 10 min for oil and 15 for euro.

I cant figure out the time scale at the bottom of the oil chart. I do see it made a big move. Since then it has been in a range.

Also unfortunately I cannot write this post and have the oil chart up at the same time. One negates the other. I will keep a closer watch this a.m.

firefly

[Kronos362]

Hi Firefly, if you're in livetrader right now, you must make both charts the same size exactly and set them both for 1 hour. This will show you the trend between them. Very frustrating I know, but pays dividends. Look at the similarity between them, and how the EUR/USD trading soon after the spike in oil. NB: must look at brent oil prices.

Once you've clearly seen the realtionship it simply boils down to the waiting game, set the oil graph to 1min (smallest timeframe available) and just watch. wait for the big movements and see how the EUR/USD moves accordingly soon after. When I refer to soon after, I mean a few minutes. You have to be fast when trading like this.

Hope I explained alright...

[X.Oden]

Kronos,

Good observation. You can also do that in the Forex markets. Certain pairs are parallel to each other, others are crossover pairs that go opposite like the USDCHF and GBPUSD. While the EURUSD and GBPUSD follow suite, and the GBPUSD and GBPJPY may follow each other one behind the other. All markets work that way.

Unfortunately, its not a new way to trade.

Originally Posted by Kronos362

Hi Firefly, if you're in livetrader right now, you must make both charts the same size exactly and set them both for 1 hour. This will show you the trend between them. Very frustrating I know, but pays dividends. Look at the similarity between them, and how the EUR/USD trading soon after the spike in oil. NB: must look at brent oil prices.

Once you've clearly seen the realtionship it simply boils down to the waiting game, set the oil graph to 1min (smallest timeframe available) and just watch. wait for the big movements and see how the EUR/USD moves accordingly soon after. When I refer to soon after, I mean a few minutes. You have to be fast when trading like this.

Hope I explained alright...

[Kronos362]

Oden,

Not a new way to trade at all, but it is still very difficult to get the info at the right time. A trader ussualy only finds out the oil has moved to late. Are you possibly aware of any service that will text you whenever a big shift in oil occurs. I've found it the best way to trade, but like all traders, I simply can't sit all day staring at my graphs and waiting for oil to move so that I can get in with a quick trade. Another interesting currency pair is EUR/ZAR, most platforms won't let you trade this, but the most interesting thing is the effect gold prices have on ZAR. even more pronounced than the effect oil has on the USD/JPY...

[X.Oden]

Kronos,

Unfortunately I don't know any services like that. You may also want to check Gold comparisons to forex markets. That's what Larry Williams, founder of the %R indicator did when he created this indicator. He won a trading contest by converting $10,000 to $1 Million in 1 year and his 16 year old daughter followed suite the next year winning a similar contest converting $10,000 to $100K within a year as well.

What you could do, and this is just theory because I don't understand commodity in terms of oil movement....what you could do is find out when the busiest times are during oil markets and then just check during those times for a move.

I'm sure if you dig deep enough on the net, you'll find something. But anyway, good observation. I'm sure if you create a system around it you will be successful in your trading. That's partially how I trade.

Originally Posted by Kronos362

Oden,

Not a new way to trade at all, but it is still very difficult to get the info at the right time. A trader ussualy only finds out the oil has moved to late. Are you possibly aware of any service that will text you whenever a big shift in oil occurs. I've found it the best way to trade, but like all traders, I simply can't sit all day staring at my graphs and waiting for oil to move so that I can get in with a quick trade. Another interesting currency pair is EUR/ZAR, most platforms won't let you trade this, but the most interesting thing is the effect gold prices have on ZAR. even more pronounced than the effect oil has on the USD/JPY...

[firefly]

Hello Kronos,

I have been trying your observation out on the eur.usd this a.m. . Unfortunately not much movement due to USA holiday. I can see there is a correlation on the hourly and maybe on the 10 minute. Dont see what you are claiming on the one minute for Brent vs 10 or 15 or hr on euro.
This may be due to the fact that when the clock struck on an hour the charts updated separately, at least a minute difference possibly as much as 3 more. They should not have!

I am using the d u k a s copy charts for Brent and C M S vt for euro.
Do you understand the time reference on the bottom of the dukascopy charts? It doesnt make sense to me. This makes correlation difficult.

ff

[DrForex]

Kronos

I see your valued post regarding BWILC was your first on MoneyTec. Thank you for that and I will also respond to you and some others I think is worthy to respond to.

At this stage this thread is characterised by comments regarding BWILC and has it until now stayed focused on this for which I thank all the contributors.

In order to prevent this thread to fall into the same type of chaos as almost all others where the original worthy content deteriorates in directionless blabber about totally unrelated topics, I would appreciate it if you please start a new thread for your oil indicator, in addition to removing the non-topical posts from this thread.

[DrForex]

Just to inform everyone that I will host a forex trading discussion based on Bird Watching in Lion Country in the FX Street live chat room on Wednesday 22 February at GMT 17:30.


You have to register to attend.

[firefly]

Dirk,

Is there a way that those who cannot attend the broadcast can get a copy?

Firefly

[DrForex]

Originally Posted by firefly

Dirk,

Is there a way that those who cannot attend the broadcast can get a copy?

Firefly

I think if you register you will be able to get a copy afterwards.

I am not so sure myself, maybe someone else no for sure.

[socrates]

Dirk

acording to fxstreet the seminar is at 16:30 GMT

[DrForex]

Socrates

Yes yes. That's a serious typo; 16:30 GMT, EST 11:30.

Thanks

[flatfish]

If you can't attend the Q+A there are transcripts available on the site but they have a technical problem with them at the moment so may take a few days before they appear.