Hmmmm, glad I wasn’t around for Tro if it was an earlier manifestation of xtraction. 
Hmmmm, glad I wasn’t around for Tro
Do a Google search for “drain the banks” his perspective is different than what is usually talked about around here but its worth reading. Xtraction’s ideas are similar but they don’t involve a bunch of custom indicators.
true, not the same person, just a resemblance with the horizontal lines. That whole thread got deleted.
I checked the “drain the banks” thing out. Strikes me as another ‘holy grail’ to avoid the actual work part of trading currency. 
Even,if i dont base my argument on any concrete facts,cant you see that it is self-evident that this person is not new to this forum.
Put differently,when you first joined this forum,do you learn how folks contribute to the discussion by explicitly shaping the dicussion of the day? Hint! Hint!! Hint !!!.
can someone tell me if there is a correct setting for tthe bollinger bands? or should i just go with the settings that are already there, i currently use accucharts.Can you also tell me if it should be changed each time you go to a different time frame.Thank you very much for any assistance you can give me.
Well, they could be Charles Manson on a prison computer for all I care. Whoever used is I appreciate the guidance and help.
Do these look correct for today? I based them on the high and low from Friday’s close(Sunday’s close wasn’t higher or lower) and the close today at 4pm. R3 =1.6469
R2=1.6403
R1=1.6326
PP=1.6261
S1=1.6184
S2=1.6119
S3=1.6041
I’ve taken the following daily GBPUSD print valid until Mon 5pm EST:
HIGH 1.6334
LOW 1.6193
CLOSE 1.6240
OPEN 1.6240
R3 =1.6469 [B]1.6459[/B]
R2=1.6403 [B]1.6397[/B]
R1=1.6326 [B]1.6318[/B]
PP=1.6261 [B]1.6256[/B]
S1=1.6184 [B]1.6177[/B]
S2=1.6119 [B]1.6115[/B]
S3=1.6041 [B]1.6036[/B]
Another important S&R line is 1.6166. 4 pips above last weeks LOW.
Keep an eye on 2:20 lower band on 1D. Could be very useful this coming week. 
Love this in depth analysis of whos who… who cares? The contribution to the overall good of trading is what were all about agreed?
Pivot points hmm… they are dynamic. Not my favourite choice of indicator… but if its of importance here tonight then this is what my software is showing now.
Daily pivot point 1.6230 R1 1.6253 R2 1.6277 S1 1.6205 S2 1.6181. H1 pivot point 1.6224 R1 1.6234 R2 1.6243 S1 1.6215 S2 1.6207.
Look to the R1 & S1.
O’ Lord. I am so confused. Three people with three different S/Rs on Pivot Points. I really need help on this one.Which one is correct as i just dont get it.
Comments,concerns,critiques,and commendations are welcome.
Dont dispute the learned members posting on this thread. But if I was trading on pivot points alone I’d go with my software feed.
The charts on Marketscope 2.0 from FXCM are off then. Could it be that different brokers have slightly different close/open/high/low? I’m guessing it’s just them being off on when the forex day begins and ends.
I dont think there is anything inherently wrong with the figures. Its just that if you take day TF or the 4h/1h tf charts your looking at the average figures of PA. Current software computes these figures in real time and therefore gives more up to date analysis of likely range. As I say its dynamic… current software plots current PP.
On the subject of pivot points. This is one of my favorite bits from baby pips school…
If price at PP, watch for a move back to R1 or S1.
If price is at R1, expect a move to R2 or back towards PP.
If price is at S1, expect a move to S2 or back towards PP.
If price is at R2, expect a move to R3 or back towards R1.
If price is at S2, expect a move to S3 or back towards S1.
So in a nutshell, price will either
1.go up,
or
2.go down…
Brilliant!
Yep just love Pivot points… my favourite indicator… I’ll stick to the BB and the thread theme until someone shows me a better way (illusions aside). :D:D:D
I didn’t use the automatic software on Marketscope, I just took the Open/Close/High/Low and used a pivot calculator to see if my calculations matched used’s Daily S & R for today. Good know about software version being dynamic. For sure not trying to change the theme on this thread, I’m just very interested in used’s calculations and seeing how they compare with Bollinger Bands.
On 1h and daily put up a 2 LWMA (high/ low) which will mirror the PP but also give a better indication of the trend direction. Add a 2:1 boll and why would you need a PP? No offense Andrew just asking why the need for PP?
I honestly will likely not end up using S & R/PP but for the sake of learning and knowing I’d like to know the proper calculations. Used seems to understand the proper way to figure them, but that’s just my intuitions.
Cant argue with that Andrew… knowledge is power… the more you experiment the better you will know what works and what doesnt.