dojitrader
Short

3 Drive + Bat + EW = What Could Go Wrong ???

FX:AUDJPY   Australian Dollar / Japanese Yen
106 views
3
106 5
The headline shows my trading insecurities, I suppose ~~~~
But, it all adds up to a short around 95.75 with stops above X
That's pushing my comfort zone about 50 pips, especially on 3 units.
Maybe the candlesticks will help - A Lot !
The EW may not actually help but it seems reasonable.
Even the alternate count of a-b-c=A-B-5 wave C
instead of the 1-2, i-ii comes into
drive 3 about the same. (not shown)
So far the harmonics/symmetry are supportive.
If they continue to do so, I'm IN !!!!
If not, I'll stand aside.
Nothing could go wrong, right ?
{{oh ya, the 0 Drive ? I'm wondering to myself if this means
anything good or bad or no significance for a 3 Drive pattern?}}
Drilling down for a little fine tuning ~~~~
(Hoping I'm not getting to smart for my own britches !)
iv has entered the area of i so I'm thinking a re label is more accurate
albeit, the outcome is about the same, except:
the new count might put the entry closer to 96.00
So, as price action looks to the final structure - and the candlesticks -
I'm thinking I'll ignore the Bat entry and look for 96 with stops also a little higher.
+1 Reply
dojitrader dojitrader
Bat pattern is active, but, the wave count has fallen apart so,
I have little confidence is this set up. If we hit 96 I'll give it
another consideration. Standing aside for now.
Reply
dojitrader dojitrader
Don't you just love it ~~~~
When you wake up to profits !
The wave count is a mess, but, as I surmised,
the Big Figure of 96.00 was too much of a magnet for
price action not to test and rejected soundly.
Entered a limit @ 95.98 and leaving stops @ 96.22.
With such a sharp rejection anything above makes this idea wrong.
If we do get a retest of the test might another short if the candles
and momentum show continued weakness.


Reply
This looks like an air tight idea! ;D
Reply
dojitrader traderWgun
Thanks for the encouragement.
I'm always worried when a set up looks air tight.
They're so easily blown to bits and yet
so often it seems like the messy one's have greater possibilities.
Reply
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