1. Originally Posted by blott
Hi foxy,
Yes it's gbpusd H1 chart. Out brokers must be on same time zone (gmt+1). So you took the next low? On my chart that was at 1400 local time.
Surely if we are taking highs and lows between swings, then we should use the lowest/highest swing points, not subsequent tests? I did originally take the 1400 test low as the starting point, but then reverted to the previous day's 2000 as being the true swing low.

Is my method of arriving at the right hand yellow elipse i.e. continuing the line from left to right from 2000 through the last BP, and on towhere it cuts the up leg at the RH yellow elipse the correct way to establish the next BP? If so, then I reckon price will go down to 581 where the trend line from the previous swing high @ 5879 cuts through the 2nd yellow elipse.

How did you arrive at a future reversal point of 576?

Cheers,

Mike
To find the reversal point is quite simple. draw a line from top of the previous swing low, through the current BP, take a time tool and drag it from the top of the begining of the line you drew to the BP. the following end of the box gives you the time you can expect the price to reach the target - all things being equal that is. Parsons clearly shows this in his video.

2. Originally Posted by foxy
To find the reversal point is quite simple. draw a line from top of the previous swing low, through the current BP, take a time tool and drag it from the top of the begining of the line you drew to the BP. the following end of the box gives you the time you can expect the price to reach the target - all things being equal that is. Parsons clearly shows this in his video.
Hi foxy,
Thanks for getting back to me. I'm having a slight crisis here in matching what I've seen on the videos and what shows on my chart.

In the attached chart, the left BP is the BP for that leg from fig. 1 at the top down to the bottom of the swing.

So, if I take the previous swing low point (at the tip of the partly hidden bullish pattern) and draw it through the left BP, e.g. line A-A, it does not come anywhere close to the top of the next swing high point 'C'.

Also, if I draw line B-B through the left BP it also comes nowhere near point 'C'. This is not what I see on the videos, so I must have missed something.

Ok, now for the projection through the right hand BP. which line should I use for this? Line 1-1 or line 2-2? Personally I would chose line 1-1, but I bow to greater experience.

May thanks,

Mike

3. Originally Posted by blott
Hi foxy,
Thanks for getting back to me. I'm having a slight crisis here in matching what I've seen on the videos and what shows on my chart.

In the attached chart, the left BP is the BP for that leg from fig. 1 at the top down to the bottom of the swing.

So, if I take the previous swing low point (at the tip of the partly hidden bullish pattern) and draw it through the left BP, e.g. line A-A, it does not come anywhere close to the top of the next swing high point 'C'.

Also, if I draw line B-B through the left BP it also comes nowhere near point 'C'. This is not what I see on the videos, so I must have missed something.

Ok, now for the projection through the right hand BP. which line should I use for this? Line 1-1 or line 2-2? Personally I would chose line 1-1, but I bow to greater experience.

May thanks,

Mike

It seems to me that you should use the right hand BP to get the right projection to reach the 'C' point, but i cannot get any TL to fit into that BP(blue ellipse). I have to watch video1 again.

4. Maybe the weekend gap threw out BP calculations?

Cheers,

Mike

5. yes Newly, looks good to me.

6. Originally Posted by blott
Maybe the weekend gap threw out BP calculations?

Cheers,

Mike
Yeah you might be right about that. If this is the case then we have to be aware of that every sunday/monday and take that into consideration when we draw our TL

To FXtrader- This is NOT kolapos discovery in trading. Its Micheal J. Parsons method.

Kolapo did not start this thread to say he is King or found the Grail, he is only trying to hlep us all.

Thank You Kolapo

I think everyone is missing the point of what i was saying. Others have and continue to ask what i have asked but in dribs and drabs. All i did was put one post with all the questions in that one post. I am not in any way suggesting that i am after a holy grail or that Kolapo dsicovered this trading method. My posts clearly give thanks to Kolapo and i very well know that this is MJP's method. All i asked was what indicators he is using because Kolapo seemed to make reference to different indicators on top of what he posted in his original first post. Again try to understand that i am not relying on the indicatos alone and i know very well that this is MJP's method, but i was trying to work out what Kolapo is going on about especially when making reference to different indicators. I know that this may be his method and that is fine, but since he decided to share it with the rest of the world and he managed to grab our interest then it would be nice to work together and establish what i think should be a template of indicators where required and the MJP method. Hence why i asked for a typical template chart and the exact indicators he is using. Because so far the indicators he mentioned are zigzag, non lag zigzag, macd, float, fisher, aakk (many of), goldfinger, super adx and others. Now you tell me what you suppose to make out of all these indicators.

Trademonster you seem to have forgotten your post recently where you ask Kolapo about the indicators, i quote “Kolapo< what are the indicators you have on your charts ? (AKZZ, ARR, Non_lagZZ, AKZZpointer and the float _ 5 is that the total ?” – how is my original post any different from what you are asking, why did you ask Kolapo what indicators he is using, are you getting confused? Are you relying on the indicators as Kolapo says to me that he thinks I am doing?, so why you having a smart go at me when your question is no different. I asked the same thing and I expanded on that by asking for a typical chart and maybe a methodology.

I am not trying to steal his secret, ideas or anything else for that matter, I was trying to understand what he is doing so I can play around with it and maybe try to provide a constructive input. I have watched the MJP videos and in fact I believe at times Kolapo is taking the wrong points for his RM sometimes.

And for your information, MJP method does not involve any indicators what so ever, hence please don’t try to tell me who discovered what because that is not what I was asking!!

I assure you my intention is to help. I am not new to trading and i am a member of many forums. I provide inpt to help others as well just as Kolapo is doing. But the way i see it so far its a mish mash of information with a whole heap of indicators. Look back at the posts of everyone else, everyone is asking questions, some are even getting confused by what Kolapo is saying such as Foxy's earlier on, so i am not the only one who is not completely understanding where Kolapo's method is heading. In saying this i am grateful for him starting this thread and i assure you i am very interested in this topic but clarity would be good for all of us.

So now tell me, who here has actually implemented all the indicators that Kolapo has posted and made a chart out of it? Anyone?

8. Hi Everyone,
I presume this thread is about sharing information and helping each other to understand this system better and to make money. So, with a spirit of harmony and co-operation, can we just get on with it please and not get too sensitive?

Ok, in my post 176 I showed the right hand yellow circle as a BP, but if you take a line from the top of the swing high/ZZ to the left through that point, it comes nowhere near where price eventually touched. So, that could not be the BP, or could it?

In the chart here the BP looks like it's further up (green arrow), which lines up nicely with the two subsequent down moves (green circles) to touch the new line (I moved the BP up about 30 pips from the original point at the diagonal blue line/red arrow).

So it would seem that what first appears to be a BP (red arrow) may not always been the correct BP. To have gone short yesterday using the original BP and expecting price to get down to it later (which I did and got stopped out for @ 40 pips) would have required very deep pockets indeed, or a micro lot! Doh!

Taking the revised BP as being correct, this projects price up to 1.6000 area. Would anyone care to comment please and tell me where I went wrong?

Cheers,

Mike

9. Originally Posted by blott
Hi Everyone,
I presume this thread is about sharing information and helping each other to understand this system better and to make money. So, with a spirit of harmony and co-operation, can we just get on with it please and not get too sensitive?

Ok, in my post 176 I showed the right hand yellow circle as a BP, but if you take a line from the top of the swing high/ZZ to the left through that point, it comes nowhere near where price eventually touched. So, that could not be the BP, or could it?

In the chart here the BP looks like it's further up (green arrow), which lines up nicely with the two subsequent down moves (green circles) to touch the new line (I moved the BP up about 30 pips from the original point at the diagonal blue line/red arrow).

So it would seem that what first appears to be a BP (red arrow) may not always been the correct BP. To have gone short yesterday using the original BP and expecting price to get down to it later (which I did and got stopped out for @ 40 pips) would have required very deep pockets indeed, or a micro lot! Doh!

Taking the revised BP as being correct, this projects price up to 1.6000 area. Would anyone care to comment please and tell me where I went wrong?

Cheers,

Mike

Hi Mikes, looks like you are getting the hang of it. Yes the balance point on this one did in fact prove to be quite high up. Your confirmation from pulling a line from the recent low and taking it thru the line of least resistance also confirmed the higher BP. nice that you could have gotten out of the market after a few hours as price hit that level again. I wish price action was so courteous more often .

10. Hi Foxy,
I just wish I'd spotted the 'false' BP earlier and saved myself some grief! I thought extending the previous blue arrow BP into the green arrow BP was just coincidence; is that what this method advocates, or was it indeed just coincidence? I know it's amazing how old TLines can be revisited in the future.....

I presume to find points of retracement for best entry points on the way up, the method can be used on minor swings within the main swing?

Cheers,

Mike

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