I've not been much into trading Daily charts but this seemed like a good opportunity
to maybe keep a trade in for more than a day and have a go at longer Timeframe trading.
** It may be an opportunity to stay away from being glued to a computer screen and enjoy the fresh air out there! **
WILL BE LOOKING AT
THE 4H and 1H TIMEFRAMES
ON MONDAY FOR ENTRY
From wave III in Elliott wave theory, wave IV takes a 38.2% retracement at the same time as a bearish AB=CD Gartley pattern emerged. I normally don't trade this cross but wave 5 Elliotts and Gartkey patterns are high probability trades and seeing this combo, I could not resist.
Happy Trading! :)
I've never been much at pretty charts but here's another for the trade.
One of the most successful trade patterns in trading, I simply used a fib retracement and expansion tool to find an wave correction in which wave A(ab) and wave C(cd) are nearly the same in price action. This is a typical Gartley bullish pattern. Let's see how this one pans out! :)
Termination of EW wave 3 was a near perfect touch down at the 1.618 expansion in classic EW theory.
Looking for entry of 61.8% retracement of EW wave 3 with at SL below subwave 4 of wave 3 and around the bottom support cluster at end of EW wave 1 for a standard 35 pips.
This is a tricky one for TP as if we say EW wave 5 strives to be equal to EW wave 1 in...
As a continuation to the idea posted today, the daily is the week under the magnifying glass.
Entry level possibilities have been entered as weak points of break.
*DISCLAIMER" - I accept no responsibility nor am I suggesting for anybody to enter trades based on the information I publish on this website. Trading Forex involves risk. It is something that is done...
Please consider this to be self explanatory to more experienced traders.
Longer time frames such as monthly, quarterly and yearly suggest same speculation of the Pound going higher on Yen.
Fundamental news in the UK has been in support of slow growth out of global recession with no great news of the Yen pulling up in any steady and consistent way.
Sorry, some things are inexplicable in text.
There are as per usual charting of mine is based on many Gann, Fib relationships as well as some of my own discoveries and charting forecasting techniques.
** Disclaimer ** TRADE AT YOUR OWN RISK and NO MORE THAN YOU CAN AFFORD
Over the Weekend, I started experimenting with Heiken Ashi.
It was of my interest to look into this in order to break away from short term trading as my goal is to set trades at a maximum of once a day and/or a close of once a day.
Unless you study Gann diligently, there will probably be no insight into how this chart has been produced.
Key levels according to...
According to Gann, Odd days are long days. This has been observed well and even by myself to a certain degree. It is only to wonder when do I go long? When do I go short? Often, the lowest point of a bull rally day is 5:25am GMT and with a relative amount of consistency.
I am not going to talk about my Angles but again, I have used the 4+3 = 7 Square in a...
Here we keep exploring a new strategy that has been tested by myself to be effective in certain areas to a good degree.
1. MAs are used as degrees in a circle or sinusoidal wave. The MA 361* is used as it represents all 360* degrees of a yearly cycle on first use. The extra degree is there to accurately show the 1* that is lost in the 4 years until leap year gets...