Timing is key

Another timing play on the EURAUD 240!

FX_IDC:EURAUD   EURO / AUSTRALIAN DOLLAR
229 19 5
Hello all,

I spotted this double top on the EUR/AUD             240, Although the market is ranging sideways, to the left of the chart you will notice a double bottom 8 candles apart, This time frame was repeated beautifully reaching the climactic top before Monday's Gap open. So here I am looking for a repeat however in reverse with a 9 Candle Repeat. My modified pitchfork is also pointing at the same time period. This pitchfork may be respected in price however I we will have to watch and see....As of writing my bias is from bearish to bullish .

Sincerely,

TIK
Same view, I'm long already, stop at 1.43907, 0.25% risk.
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Maybe it is to consider that price might reverse from lower levels. I`m not that good at Harmonics but I think that here is the case of bullish crab formation which gives potential reversal zone at 1.4140
EURAUD
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Timing is key Nightwish
You may be correct, my chart, although it may be used for price is primarily being used in this case for timing. So I will asses price using the hourly on the 4hr candle...Thanks for your coment
+1 Reply
Hello all,

1hr & 30minutes left on this candle and as discussed earlier I have adjusted my modified Schiff to find a probable trade location at the bottom parallel. I have the median line as the price target for around a 4R:R. Let's see how this unfolds
snapshot
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Timing is key Timing is key
Apologies, its not a modified Schiff, it's a modified "TIK" fork :)
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URIFX Timing is key
haha! Look at that fork, I wonder the reason why you placed the anchor (point 1) there!
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That's my secret sauce URIFX :)
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I have also moved anchor ( Point 2) to the vertical and horizontal co-ordinate...... This is the why I begin with a timing method, then, when I am on top of the candle, I look for trade location with either a standard fork or my special TIK forks to see if the previous candles are close to the lines or have already respecting some of them in the past......Hope that makes sense:)
+1 Reply
IvanLabrie PRO Timing is key
It's a sound approach, would agree with the timing used by Elliotticians.
Glenn Neely covers this in his methodology.
I use Tim West's approach for timing, which gives similar results.
Keep up the great work TIK.
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Timing is key IvanLabrie
Yes Ivan, I believe your starting point is to work out a few timing areas or Zones where the market is likely to either reverse or breakout depending on the position of the market. This allows you to either stay in your trade longer or enter at the right time. The confluence factor is if it's leaning on a nice line at your timing point.......You then have time and price and a higher probability lower risk trade opportunity...Thanks for your input Ivan, Is that your fighter jet in the background?
+1 Reply
IvanLabrie PRO Timing is key
I wish ;)
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So far we are travelling well up 3R around 120 pips.....Notice how accurately the market has respected the "TIK" Fork

snapshot
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IvanLabrie PRO Timing is key
Great!
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Timing is key IvanLabrie
Target reached 185 pips 4.67R

Sincerely,

TIK

snapshot
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IvanLabrie PRO Timing is key
Great stuff mate.
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URIFX Timing is key
New idea, beautiful chart and great trade! thank you!
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Did any news cause the Gap Up? I have limited coverage at the moment. I closed as per my trade plan.
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FXKOPPA Timing is key
Hi Timing is key , why you dont post this as CLICK & PLAY Format.
Waiting for that and always love your work.
Cheers
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It was same chart as original idea just updated the pitchfork to reflect path of price...Thanks FXKOPPA
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