Okay, so this is my first time posting a pattern with the HPC Software from Scott Carney i have had the software for quite sometime now, but hardly use it or even have it turned on... i just feel like i can pull patterns better than the software can. either way here on the Euro Aussie we have a bearish Gartley on the daily. the pattern has completed, and we have a complex structure on the AMP RSI. so now what were waiting on is for the RSI to meet the midline and come back into the extreme area before we enter. i have a massive Bearish ABCD pattern that lines up perfectly on the 4H so i am pretty confident that PA is in a significant area or resistance. again on both patterns were looking for both patterns to throw the RSI in overbought conditions (hate that term) and then move down. we enter when the RSI exits the extreme area!
Comment:
as you can see we have not completed the ABCD pattern on the 4 hour... so we are waiting for this pattern to complete too!
Comment:
alright everyone we have arrived at the destination. here on the Pattern generated by the HPC software and on the 4H the massive Bearish ABCD pattern we have the RSI being thrown in the oversold area, so if the current candle closes as is then when the RSI comes out of the extreme area we enter. happy trading!
Comment:
Comment:
Okay, so what were waiting on is for PA to retest the highs. so, what that looks like is the RSI coming back up into the Extreme Area and then we enter on the drop out of the extreme area. so the shaded box is an area of strong resistance. we had a daily pattern completing on the area, we had a 4 hour completing in the area, and finally we had a 1H completing on the Area. There is a good chance we missed this trade, we want to see what happens to PA off this pink line its hitting now. the Pink line is a 88 point swing point. i want to see a strong bounce back into the zone for a chance for entry, so we shall see
Okay, so what were waiting on is for PA to retest the highs. so, what that looks like is the RSI coming back up into the Extreme Area and then we enter on the drop out of the extreme area. so the shaded box is an area of strong resistance. we had a daily pattern completing on the area, we had a 4 hour completing in the area, and finally we had a 1H completing on the Area. There is a good chance we missed this trade, we want to see what happens to PA off this pink line its hitting now. the Pink line is a 88 point swing point. i want to see a strong bounce back into the zone for a chance for entry, so we shall see
Trade closed manually:
So I am looking to re-enter below the yellow line. I am expecting price to break it, re-test it then fall. i closed the trade manually because:
1) Price closed above my trade management trend line
2) The RSI has been bouncing off the 50 and remaining above the 50 line in bull territory.
i took a small loss, but will continue to monitor the pair
So I am looking to re-enter below the yellow line. I am expecting price to break it, re-test it then fall. i closed the trade manually because:
1) Price closed above my trade management trend line
2) The RSI has been bouncing off the 50 and remaining above the 50 line in bull territory.
i took a small loss, but will continue to monitor the pair