I drew the price prediction line on the 25th (red dotted line). Checked this chart today and the price followed extremely close to it both in price and timeframe. I thought it was very interesting indeed... I couldn't remember how I drew it at first, but then I realized it was me drawing/cloning basically a smaller version of what happened since the previous...
Bearish Bat @ USDJPY Last bat @ USDJPY was a looser. Here is where psychology comes into play, you must continue to follow the trade plan even if the last 10 trades were losers. Does this mean that this trade will be a winner? I have no idea. All I know is that I will keep executing my trade plan no matter what is the outcome I get. I will do some videos on...
This is a side note continuation about "XABCD Should Extend The Trend!" subject. This is my real life experience of buying a physical gold (coins, not much quantities, it was my first time doing that). Using my technical analysis for the reason to buy. In 2013 I bough some gold almost exactly at the time this small Gartley was finished forming (little pointer...
This is continuation of my mini series about "When not to draw XABCD lines" It should be named part 2. "Picture is worth thousand words" Not any picture, if there is a picture about how XABCD works then its not worth so much. Almost every book will tell you that it works, but almost none will tell you when it doesn't work. For me I like to just deduce, not...
This mini chart is about how not to measure XABCD formations. The simple basic approach is to remember that BC is the biggest correction, is a mnemotechnic way to remember it. If there is another bigger correction like EC you should not classify pattern as an XABCD or you should draw pattern differently using bigger correction as a BC leg. In this chart we can...
Its just funny to me that often people just read the book about harmonics, Elliott, etc. and believe it, not taking serious steps to just question the authority and doing their own research on real market charts. Why do people believe this concepts so strongly? They just believe because they believe that if they believe then everything will be OK. That is what...
On Daily chart it is is in uptrend since July 2013. After big, ignited, red candle on 20th of March it entered into range-bound market and bounced up well off major trend line. Till now it built series of lower high and higher lows (wedge) and gave opportunities to trade both sides (selling from wedge highs and buying support). On Friday when US job report was...