Old school Pesavento Gartley. An ab=cd measurement completes at 0.618XA. Note the targets!
This pattern is rarely used. Mordern variation is 0.786XA+ab=cd which requires deeper B-point and C-point ratios.
I understand to be able to trade like the best you must literally think like the best and if you have to, try to remember how they would have gone about utilizing the skills we learn to better advance their own trading skills. thus some people hold trades longer cause they know more. so just act like those people and ask a few questions here and there. but...
Hi traders we have a classic trend continuation trade here and the expectation is that the market will likely rally from this point to about the 127.0% or 141.0% Fibonacci extension. This is also a 123 strategy + middle line/61.8% reversal which I teach in my zoom trading classes so let's see if the market will give us the win.
- Correlation in the waves from one fractal to the next ~ setting up a drop into a range
- Correlation from DXY trade idea
Inside these ranges are when wave traders get lost. Wait for something you CLEALRY recognize before assuming a larger fractal move is about to take place.
oil has been on an upwards trajectory ever since the April month and has done a series of Elliott waves followed by consolidation and corrections. to which point we are currently at the phase of a possible correction ending. before the start of a new trend. if you guys can help keep and eyes out and share input into the comments I'm sure we can identify the next...
price action for the crude oil bias shows clear uptrend direction with congestion zones acting and resting zones. each congestion has been higher than the other. which suggests an increase in buyers motive in moving up and hasn't penetrated to the previous zones and stayed. this may be a positive upmove for the forseeing future. please keep and eye. as we all need...
Hard to tell where BCOUSD is currently heading.
Heiken candles are small and appears to have no strong conviction by both sides but slowly drifting to the upside
Stoch movement is also slow but seems to be pointing to upwards movement.
Need further confirmation before any trades.
TECHNICALS: Morning traders! Brent crude is reaching its highest level since early March on US stimulus hopes and ahead of the EIA oil inventory data. Strong breakout candle forming on the 1-hour chart.
RISK SENTIMENT: Risk-on this morning, supporting higher oil prices.
HOW TO TRADE: Looking for a pullback to previous resistance and trading pullback weakness....