When defining the potential reversal zone (PRZ) for a , we look at the projection of three levels. I: the of XA, II: an AB = CD pattern and III: a BC expansion converging in the same area (in this case 1272 BC ). This defines a tight zone, about 26 pips wide, represented by the orange lines in the chart. Should price action reverse convincingly, I would enter long. SL goes 10 pips behind the next . TP1 = of AD and TP2 = of AD.
There are 220 pips to be made (if this pair follows the script) and the trade has a reward – risk ratio of 2.0!
What I did was recognise an opportunity (a Gartley pattern nearing its completion) that is worthwhile putting some risk on and I predefined and accept that risk. Harmonic patterns have a positive expectancy over a large number of trades when traded consistently to a number of pre-set rules. Whether they go with or against the trend.
Lets see how this one plays out!
It is the effort that counts more than the actual material. So if you really wish to be banned, do let me and admin know. We will oblige. No problem.
Otherwise the idea is not pushed up your nose so why all this? Think you might have some serious mental issues or anger against your own failing and now choosing to take it out on these folks.
So please ignore his work if it bothers you that much. That is not difficult to do now is it?
It is not like the author is predicting a full blown reversal here or predicting anything at all for that matter, just trying to cash in some pips, both up and down.
Unless you can tap in to the mind of these market makers, the author's idea is as good as yours. Now I strongly suggest that you keep your poor language to yourself because to me it's just an expression of your frustration that not everybody thinks like you. You should actually be happy that there are ideas that oppose yours, this way you have the possibility to enter an opposing trade and maybe win some money. So be smart, shut up and do your own thing, OK ?
There is nothing wrong with the idea published. There are no guarantees offered. Also at decision point, the author or any other traders would see if the trade is valid and risk reward acceptable.
In fact even if EUR could go to negative 1 or even negative 100, in its travel there will likely be noticeable retracements which is what some might wish to trade, Why are you so against that. Unless you consider there is no room of even 1 Pip retracement.
So stop barking like mad or insane dog having nothing else to do.
Any way hope this is the last of these nonsense exchanges about frivolous things. Wish you all the best.