How about that! I posted this a few weeks ago and now look at it. Guys looking for the wave up, this could be your chance. Dont enter just yet. Lets observe this further, the price movement down is very strong thou the RSI is over sold this could still go down. So dont enter just yet. if the price breaks above the AB=CD close above it. Then we can be buyers.
how many version do you will post about longing eurusd, none ot them worked at all. this could go much lower, this is a hard fundamental move, no need to fool the crowd :)
richbautista30
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First of all I'm not trying to fool anyone here.
I'm am under the impression that you are a professional trader. That's great, Further i would like to say that I'm not giving any trading signal here.
I understand that my viewers are Harmonic Traders and that they know and understand the fundamentals of This Strategy.
If you would observe, the reason for my post is to share my trading strategy so that many can learn from it, and that they, if they want can share their strategy or correct me through their comment.
I am not here to give trading signal. I am sharing trading style. Teaching others what i think and learning at the same time, each time i am wrong.
Explanation on Many Long Post on the EURUSD:
To claim a point it the Harmonic Pattern or the FIBB as a exact reversal point is like a fortunetellers prediction. Even the author of Harmonic Trading (Scott Carney) agrees that it is not always correct. He emphasized that the Price Action is the Deciding Factor for the Entry Trade or a confirmation of a valid pattern. Those great traders at tradempower says IPDE. Identify, Predict, Decide, Execute. The execution part is the Most Crucial, if the pattern is invalid do not execute, then you should do it all over again.
That's the reason i post this pattern over and over again.
Im not a great teacher. I'm just a smuck who sometimes needs a ride home.
I anybody thinks my prediction is wrong. Do what you think is correct.
low.wf.5
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AB is not equal to CD right ?
richbautista30
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AB is always presumed equal to BC but should be the only basis of entry. The PRZ should be composed of 3 or more indicators to predict where the market might reverse. There is no exact Fib point but an area can be defined with 3 or more indicators. The action inside the PRZ will give you the Signal of what the market will do next. In summary the FIBS does not tell you anything only the area of the Turning point. The final indicator that will tell you weather its a buy or sell is the Price action in the AREA. Harmonic Trading and Pattern Recognition will define that area. But will not confirm the move unless you read the price action. Mind you that RSI and Harmonic Trading are two Different Trading strategies. They can work individually. If you want to learn more Try goggling for Scott M. Carney ive learn a lot from his books and in his website. very informative. Those guys at trade empowered does the same thing only they teach better than me. Look up for jayson stapleton. He gives free training in you tube ive learned a lot from theme and still learning more.