Alexander_Nikitin
Short

Usdcad Gatley to continue downtrend

FX:USDCAD   U.S. Dollar/Canadian Dollar
9 months ago
Hey, traders. Look at the chart above. Opposite to comon thinking that price is trending only 30% of a time I would say that price is always trending. Trend is a natural way of price movement. Although it looks like price is moving sideways, there is a trend on this pair. You just need to know what to look at. If you follow me long enough you might have noticed that I draw lines and squares on my charts. Lines stand for impulses and squares stand for corrections. This is my way to represent various series of ascending higs with ascending lows or descending lows with descending highs which is the exact definition of a trend given by Dow Johnes himself. All professional traders define trend in this manner. If you read some of W. Gann works you will find his way of describing swings which is in essence an attempt to define a trend. If you tend more to Elliot way of analizing the market you will also notice him speaking of waves forming peaks and dips on the chart. Notice that none of these men talks about special indicator of a trend. They all use a correlation between highs and lows to define trends. So do I. To summarize my market research I define a trend as two or more impulses separated only by a correction. Whenever you see two lines separated by a square             on my charts, you should be sure that I defined a trend. Once the trend is identified, the main part of the work is done. You may use whatever technique to enter in anticipation of the existing trend continuation. I personally use harmonic patterns which combined with my trend identification technique give me a powerful tool for extracting money out of the market.
If you find the information useful you are welcome to"Like", "Follow" and comment below.
Also check my related ideas that I attached to see how this setup works.
9 months ago
Trade active: Gartley pattern completed)
9 months ago
Comment: Hey, traders. Stops rolled to breakeven as price hit half of my profit distance. enjoy the risk free opportunity.
9 months ago
Trade closed: target reached: Cha-ching, mates. Very pain free trade. Do not miss my special offer for you. Only few days left. Details in this video: https://youtu.be/QOcsRpArll4
This pattern was found with Pattern Search Software (c)
Watch the sample video here: https://youtu.be/kK6QfJuCGwg
Contact me in PM if you wish to get your copy
Best regards, Alexander Nikitin.
Fulltime professional trader and programmer.
I just wondered about assessing the RSI in the above. If there is RSI divergence trend could be about to reverse? At 22nd Feb on the above there were indications of RSI divergence. Now RSI seems to be strengthening. Of course, RSI may not mean anything if it's not part of the assessment in a particular trading plan.
+1 Reply
Alexander_Nikitin TOP Captain_Walker
9 months ago
I do not use rsi. I don't even know what is it)
Reply
Kareem
9 months ago
What are your thoughts on using the 786 compared to the 127 extension when entering a Gartley, especially the risk to reward on them both to Targets 1?
+2 Reply
Alexander_Nikitin TOP Kareem
9 months ago
1,272 gives better risk to reward, but it also filters lots of winning opportunities. Overall the results are the same. You win less frequent with 1,272 but more pips. And you win more frequent with 0.786 but less pips. 1,272 gives you a more volatile equity curve. I mean large rallies to the upside and large waterfalls. With 0.786 the movement is more smooth. good luck.
Reply
TPittard Alexander_Nikitin
9 months ago
I aggree, I personally prefer entering a trade with more units and less risk.

I enjoy your reports to Alexander
+1 Reply
AnasMhna
9 months ago
amazing
+1 Reply
Alexander_Nikitin TOP AnasMhna
9 months ago
thank you)
Reply
thulasi
9 months ago
excellent specially for complicated charts like the one we saw on usdcad
+1 Reply
arif_awan
9 months ago
wow,,, what a analysis.
Reply
Alexander_Nikitin TOP arif_awan
9 months ago
Thank you, mate. It usually works this way))
Reply
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