Disclaimer:If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Sawcruhteez Strategies: | | |
The 4h chart looks like [url=forexfactory.com/attachment.php?attachmentid=987199&stc=1&d=1340319573 ]Schematic #1 of Wyckoff Accumulation Pattern. We have jumped the creek and created a higher low which is where I get very interested in this pattern. The higher lower after jumping the creek is point #12 in accumulation and that is Wyckoff's favorite entry point. If price breaks through the horizontal resistance lines and throwsback for a retest then that would be the second LPS / point #14 which is his 2nd and final entry point. This indicates to me that the market has had the chance to consolidate properly before the expected market period.
Consensio on the same time tends to agree. The 200 EMA has supported multiple attempts and the 50 is squeezing sufficiently. This is where the higher low and the 9 EMA is most important to me. I really want to see price support above the prior higher low ($7,680) and for that to be followed by a bullish cross with the 9 EMA. If that happens then I will feel very confident that we will be ready for the all excited markup period : )
Edit: Apologies if your inbox is getting spammed. Sometimes I make mistakes and have to delete / repost. That is what happened today - had the numbers mislabeled in the chart.