///Last week, I published 9 Pistachio charts .. all of them were within the limits of the plan/// These charts are not intended for trading. They are meant to align you with the market by giving you the direction of the market (bullish / bearish / ranging) and the expected limits where price should move during the week. Try to trade with the trend by waiting for price to go into the buy/sell zone before taking a position according to your trading style. Also, be realistic in your targets by using the target zone as a possible area where price could correct or even reverse. Note: Some weeks you will notice that price will trade against my trend direction but will never break the market limits. That is just a sign that market is in a correction phase ** You can access all my Pistachio charts by clicking the 'PCP tag on my page
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How to connect between the daily & H4:
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this break of last week's low before we retrace could be a bear trap before a deep retracement. So please be careful
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xiiimik asked: About the last point, why do you think so?
My answer: The usual chain of events is to see a retracement at the beginning of any new period before the actual commencement of the original move or a reversal of it. Continuations prior to retracements have one of 2 reasons: 1. A very strong move that produces Marubozu or opening Marubozu candles for the period (so in this case on the weekly chart) 2. A bull/bear trap
So when I go to the weekly chart and I look at last week's candle, I'm not expecting option 1 to happen because the momentum is still at the beginning and there s nothing to drive such a strong move. If things develop, then I will adapt with the new events
Good luck
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I hope non of you are stuck in a short... I will be really upset
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Monday Evening Brief: Still waiting for a retracement into the sell zone
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Finally, we have movement towards the sell zone. I don't think we should go too deep in there so maybe we can get a position soon
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val_trader
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Thanks great chart
Ichimoku_Trader
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Thank you
salarfeen
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This appears to be a map drawn out. Long till the retracement to the target zone. Correct?
Greatly illustrated. Much appreciated.
Ichimoku_Trader
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It is exactly that .. A TREASURE MAP
I like these because they give traders room to use their own strategies while considering a factor that I as a PanOptic trader can help them with
salarfeen
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This is perfect. Longterm. Actively trade as per the treasure map as you call it.
Good luck !
Ichimoku_Trader
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Off course, the retracement is going to the sell zone and the impulse to the target zone
gfknn5
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nice!
Ichimoku_Trader
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thank you
pmcllc
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target zone has been reached
Ichimoku_Trader
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No..
What is meant here is that price should retrace back to the sell zone before coming back to the target zone
So it will be a second visit .. probably deeper