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# UNDERSTANDING PATTERNS CORRECTLY

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
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Hi Guys, hope you are all having a wonderful time. I would like to show one of the well known patterns in the chart based on EW theory, Expanding flat. Not knowing this pattern and how to correctly recognize may mislead traders draw it incorrectly . It is a continuation pattern as are ALL CORRECTIVE STRUCTURE. I will also post some more of this pattern in the update so they are not mistake for anything else.
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Comment: that should read ** not mistaken for anything **
Training : add to skype mangal457

## Related Ideas

Hi, Can you please put what happening with GBP/JPY?
If I in a trade from an impulse, how can I distinguish an expanding flat with a reversal in the trend to get out of the trade ?
Kyuu
@Kyuu, the C wave impulse in an expanding flat is always followed by an impulse in the opposite direction , the reversal impulse is followed by a corrective structure.
anilmangal
Thank you so much.
Kyuu
@Kyuu, you are welcome
Sorry to say you are mislabeling the main chart. It is not a flat. It is a 5-3-5 ABC correction. A flat, as you know, is 3-3-5, and does not have this type of shape
ezodisy
anilmangal
@anilmangal, lol what? You are distorting a flat by attributing it here. Wave A has the same structure as larger wave C, with the same smaller flat as wave 4 too. You can ignore it, but it's there, and the only danger is that you are misleading people about terms. Do you think a good teacher acts arrogantly when presented with credible information?
ezodisy
@ezodisy, If you have been following Anil's chart you won't say he is passing wrong information. His predictions are highly correct.
pkoolc1
@pkoolc1, and that is why he was looking:
== to buy nzdusd wave 5, when the "misleading traders" sold the top and made few hundred pips!!!!!!!!!!!!!!!!!!!!!!!!!! how come he did not see it coming??? or maybe
== he was selling AUDJPY because he did not see the double zigzag beforehand !!!!!!!!!!!!!!!!!!!!!!!!!!!!,
== he could not recognize usdcad extension and sold prematurely !!!!!!! .....
you know the easy part is to predict an impulse after a correction the hard part is to know when the correction will end
== the other day in his webinar he ClAIMED that he predicted the gbpusd drop from last year
== well look at his chart below he was still looking for correction while it's dropping
== he failed to recognise the end of correction and looking to buy into impulse, simply because the impulse did not look as sharp fall !!!!!!!!!!!!!!!!!
== "lol please" that is where he went wrong, all traders have losing trades that is the nature of trading, but what is not fine that is he mocking every one else all the time
== every single weinar he spend half of it making fun of other traders and other ideas.... that is not good at all, only newbies get impressed "with doubling my account in 9 months" and only good traders will look at 50% draw down!!!!!!!!!!!
== anil on top of trading view because we have thousands of newbies like you who click "I agree" without reading the chart.... i used to"agree" when i saw a good idea, but i stopped because he agreed on my ideas in return, which is a very bad practice and it's ruining tradingview.
== i don't sell courses...i don't sell signals, i don't compate with anyone, but i hate it when someone calls a troll because i disagreed with him technically
== take how is making fun of "ezodisty" because he presented him with legit question. that is not healthy.
== if you double your account every 9 months you will be setting next to your swimming pool, not freezing in Moscow selling courses!!!!!!!!
== i think Anil should respect the community and do his own marketing without mocking others... that is healthy
NidalDarawsheh
NidalDarawsheh
@NidalDarawsheh, if you go back to that time of last years he spent few weeks looking for that c, and missed the drop and now he claims that he predict it !!!!! come on
Comment removed.
NidalDarawsheh
NidalDarawsheh
NidalDarawsheh
@NidalDarawsheh, Is there any reason your channel can not predict wave 5, is it possible that your wave B is the end of wave 1 and your wave 4 is the end of a
zig-zag correction ?
frankdukejunior
@frankdukejunior, hi, thanks for looking at count,
== i did not see it as a channel, i drew these lines to illustrate impulse move and corrective move visually,
== the B wave (red B) is corrective in nature, dig in to 15m tf and try to fit it in a 5 sub waves you will find out that you have to force your count, of course you can plot 1-5 any where in the chart but when you apply fib rules the whole count will fall a part
== but before that I failed to long what I thought wave 4 ( marked "A" red - initially i assumed it's 4 ), in general waves have character (this is a different story i would recommend reading Ramki's book, see title in the first post) in terms of depth and duration did not meet my criteria to qualify for 4, once I counted 3-3-5 every thing fell in place and i aggressively sold the pair
NidalDarawsheh
@NidalDarawsheh, this is incorrect try figuring it out if you can .
anilmangal
@anilmangal, that was for your chart. it is wrong .
anilmangal
@anilmangal, lol please... do get the point now
NidalDarawsheh
@NidalDarawsheh,

he is on top of list because he makes most pips? no?
dolphins35
@dolphins35, hi, you did not get it
== I was not talking about the pips, I am talking about the attitude

== since you mentioned the pips, you don't make pips with arrows, you make them with entry, stop and target.
== in terms of he is on top, he is on top because he gets "likes" for God sake how can some read a complicated chart in 2 minutes, don't you notice he gets 70 likes from the first 5 minutes, don't you guys do your own count first!!!!
== add to that when i used to agree to his ideas he used to agree with mine in return!!!!! not because he agrees, it just returning favours!!!!! and that ruining the community, he is not the only one he does that here
== and by the way I clicked "i agree" on your comment by mistake while trying to reply ;( here you go your first "like" is fake
NidalDarawsheh
@NidalDarawsheh, I seeyou have been venting for the entire night while I was asleep. what is your problem? Maybe I can help, if it's personal you don't have to post it here but if you are having difficulties in your trading buzz me I will try my best. I do hope that after the venting you feel better. Again don't keep it in, just let it out and please call me i will do my best to help you. But next time avoid calling the 23000 + traders who follow me Newbies and dumb. Most of those 23000 traders are better then you will ever be.
NidalDarawsheh
@NidalDarawsheh, LOL you call the USDCAD bad prediction, and you wonder they link my charts , here take a look
anilmangal
anilmangal

== I said you failed to recognise wave extension, i did not say that you did not get the drop finally, but when it was a buy you where looking for sell setup lost one, and kept looking for a sell for 2-3 weeks and missed the longs
== now we can look at your idea published on the 26/10 titled “USDCAD sell setup” 60mTF and read the 8 updates changing the structure in each update to understand what I am talking about.
== at that time when you were looking to sell, I was relaxed waiting for the top, see my idea below look at the long TP2, I sold that wick with 20 pips stop.
== in other words on the 2nd of November I saw what took you 2 weeks of frustration to see.
as I said arrows don’t make pips, entry - stop - target does, why don’t shut trolls up like me and publish 30 trades with stops and entries!!!!
NidalDarawsheh
NidalDarawsheh
you see this dotted arrow its around 200 pips, the drop is 400 pips, so stop thinking that you the only one who can catch few hundred pips in a trade a lot of traders do it and the live normally without keep bragging about it, it just money...and by the way now I am having 2nd thoughts about this pair, waiting for the market reaction after the vote count... oh but you don't believe in elections on the market
NidalDarawsheh
@NidalDarawsheh, AUDJPY Wrong? well it fell 550+pips from the point of prediction, you would never do that in your entire trading life,
anilmangal
@anilmangal, AUDJPY and your imaginary 550+ plus (196 pips loss)

== Anil wrote after the drop :”Stopes out so now i am waiting for next trade setup”
== Anil Wrote after the drop:”Another sell setup, hope this one goes. Lost one , one breakeven and going for the next one.”
======================================================================================================
again you claiming that you took the 550+ pips, and any one who can read knows that you actually took 196 pips loss
=======================================================================================================

in terms of “Me dreaming to make 550+ plus”
== As I said before I don’t publish all the time but lucky me that I keep record of my trading (not for “likes” but for my own record)
== your loosing trade entry was @ 81.516 with 196 pips stop
== my real entry that I took was at 81.772 with only 41 pips I managed to catch 379 pips before I exit with the strong rebound, that is at least 4 times your imaginary pips (assuming you follow position sizing rules based on the stop size)
== I don’t dream about it, I DO IT, and if you think it’s a one off, let me know i’ll send you 10’s of such trades with no more than 50 pips stop not 200 pips also
NidalDarawsheh
NidalDarawsheh
please zoom in before you click play, my stops are too small
pkoolc1
@pkoolc1, Yes I follow him too and I know he's very good at identifying structures. I don't mean to attack him (notice I said sorry before I started), but I want to point out that this is not a flat, it's a sharp 5-3-5 zig-zag correction with essentially two identical impulse waves. Anil's conclusion is the same as mine -- that it's bearish -- but for identification purposes, it's just not a flat.
ezodisy
@ezodisy, I don't mean to trow heat on the discussion, and indeed I respect both @NidalDarawsheh and @anilmangal but wonder if you not all make a lot of noise for nothing here... Anyone can see that A-B-C is a zig-zag, and no doubt Anil can as well... So, when he's talking about flats here, I don't think he actually mean the big structures but the smaller ones he has marked inside the big one. Now, one can always argue what is a flat, and I guess it depends a bit on how "religious" one are, but one simple way to look at it is to say that everything that's not a zigzag, and not a triangle or diagonal is a flat, and quite often actually corrections today are so complex so what easily start to wonder what the h*ll it is?

Besides, my impression is that @anilmangal doesn't follow EW in a religious way but so to speak has developed his own view - or so he say and one has to talk his course to find out more about that, and that's his choice and it's yours if you want to take it. Then, we all have an attitude as traders when it comes to interaction with others, and in some cases it stirs up stuff in others, and I think that goes for all of us. It's simply not possible to be liked by everyone - thanks God! - and if Anil now gets a lot of likes I guess he has done something to make that happen, and in such case technically he has earned it and there is no point in being judgmental about that, as that smells like disguised envy (whether it is it or not).

We are all different and at a place like this it's inevitable that we find a lot we doesn't like, just as we may find a lot we like, and whatever we think about it and how it used to be we there isn't much else we can do that accept that, just as with the Internet... gosh how I sometimes can wish it went back to how it once was... or? H*ll no!
schakim
@schakim, If he had meant only the smaller flat, he could have said so in his response to me and it would have ended there. How he wrote 'lower degree lower expanding flat' made it sound like he was writing about the lower one inside the larger one, i.e. referring to both as a flat. Hence..... Frankly this is not the first time I've seen him mislabel a flat, which is why I responded. I agree with you that it seems like Anil doesn't follow EW in a strict sense, but he always talks about it like he does. His two main points are impulse / correction and breakout trades.
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schakim
@schakim, Now I remember it wasn't just what he wrote, but the arrow he used to draw 3 waves on A, i.e. like it's the first part of a flat. He wrote and drew the same on C, as if it's just 3 as well. I think you're right he just doesn't follow EW closely.
ezodisy
@ezodisy, why LOL , because i never labeled the bigger pattern ,so you assumption of what i "label it as " made me LOL . I know you are trying to get some recognition here but believe me that is the wrong way to go, if follow that path soon you will be VENTING like @NidalDarawsheh
anilmangal
@anilmangal, hahahha Oh my word. How mad can someone be @NidalDarawsheh ? :D
ezodisy
@ezodisy, yepe LOL, though
Smart Chart Anil. Thank You for Sharing.
hello sir, am i right?

Top Shelf instruction. Thank you for sharing!
Thanks Anil!
very nice - many try to mimic by putting lines on charts.. but knowing where they go is the key ;) - excellent analysis look forward to your next outlook also, the weekly outlooks on your youtube channel are amazing!
OPEC meeting is cancelled. Higher chances for AUDCAD to continue up trend for at least next week (Y)
you got my LIKE and thank you very much for your work!
If i could sum this Nidal troll up in one sentence it would be "a lot of criticism no credentials"
Jimmy212
@Jimmy212, maybe you need to read between the lines to see the credentials, i said i called to take the course, i said i took his opinion, i said i used to agree ...etc, but what can I say Jimmy if people don't understand what they read
Jimmy212
@Jimmy212, @NidalDarawsheh is not a troll, he just have a different opinion and a need to express it - for whatever reason that is. A "troll" would never had publishing charts and put forward an argument supporting his opinion, he would just trown a bait. And if you call someone a troll it's just proper to also include his @ name to let him know about it... and if you look at his public profile he actually has put forward soem ideas that carry value - weather you agree with them or not.
schakim
@schakim, "whether"......and it is trolling, posting multiple charts that have nothing to do with what Anil has orignally posted and talking about his attitude brings absolutely no value, like talking about the GBP/USD long, lol.....structure changes, probabilities and possibilities change, it's the dynamics of trading, post one chart with an opposing view and move on.....not 10 and funny how he only picked the charts that didn't work out.....how about the other 100 that did...Bringing up old charts and saying "this didn't work out" is pathetic in my opinion. Anil brings faaaaar more to the table than anyone else on tradingview. Go through his charts over the last two years and see how accurate the forecasts are.....or instead of hating, just unfollow! There's clearly a sense of maliciousness in the trolls writing.....post a view or move on.....Simple mate
Jimmy212
@Jimmy212, fair enough, maybe I forgot to say that I'm a fan of Anil too ;-) I follow both of then and like what they publish, even if one seems to be in disagreement with the other... and trolling imho can be very subjective. Now I haven't been looking around to see if Nidal does these things all the time, which I strongly doubt, but then of course it would come in another light, but as this I would rather see it as noise, but... on reflection, I maybe should have stayed out of this discussion. Better to talk trading...
schakim
@schakim, You are quite the Diplomat.
schakim
@schakim, By reading the standards set for a troll I confess and realise that I am a troll. No published ideas, no charts but only comments. Though I enjoy participating in discussion by that comments
waterman
@waterman, :-)
Thank you for posting Mr Mangal. Much appreciated.
Nice information and analysis. Thank you.
Can you do a video of this. I dont get it yet
Anil is simply the best.
hi Guys i did a webinar last friday on what is wave analysis , that is a must watch video , so check it on my youtube link.
anilmangal
@anilmangal, thank you sir. I learned a lot by following you.
Possible daily structure to watch for on NZDUSD daily

great chart
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