dojitrader

dojitrader

Seeking the end to what I see as Wave 2, we are at the point of no return. These are not classic ED;s but, it is an appropriate way to end a Wave 2 swing. Under EW rules wave 2 is allowed to retrace 100% of wave one - and we are there ! So, this is a very low risk trade with an immediate signal of this analysis being dead wrong. (anything under wave 1 and this is...

dojitrader

X to A is down in an obvious 5 waves and the corrective/overlapping price action since would indicate an attractive opportunity to short. The shorter than .618 a to b leg has increased the risk beyond my comfort zone. Even though the total reward is almost 3 to 1. (I've just never been easy with more than 30/50 pips risk: logical as I try to be) Yet, the ab=cd...

dojitrader

After a reasonably impulsive looking rise, price action since has been extremely corrective and overlapping which makes me still look for a 2nd wave bottom. 2nd waves are often likely to retrace very deeply as the sentiment of the previous move is " disbelief". The question now ? Will the trend line or the 3rd green price range stop/reverse this trend I'll be...

dojitrader

Decent looking Gartley with ab=cd / ab=cd confluence almost on the button @ 139.73 and fairly low risk above X which is also above the recent high. So, much above that and this is completely wrong. OR it's a 2nd wave/C wave and we should see good profits - even below A. {my mouth is watering - which is *never* a good sign} Maybe this time ?

dojitrader

The critical aspect of this pattern is that each drive complete precisely at consecutive harmonic ratios. And each price leg should posses clear symmetry over equivalent time periods. This one is close, but, will there be a Cigar ??? A large target zone - .8285/.8265 but, low risk.

dojitrader

Perhaps another chance to sell the A = C target within the covering pattern. Can't see the benefit of risking much above structure for the chance to earn 50/100 pips.If this does not work then I would think the swing low is in to look for longs.

dojitrader

UsdCad has been in the most difficult corrective price action - for so long - that I'm definitely not qualified to analyze an accurate outcome ! But, if I were to guess, And I Love To Guess: This is the one I choose. The first 2 drives has respectable harmonics/symmetry but, the X wave correction, in what appears to be a double zig-zag from the September lows,...

dojitrader

Just one more zig zag and this will be a pretty good setup for a short at the .618 retrace. Some time ago I read a study, from the 1.4900 high, that showed how the Euro had retraced .618 after a 400 pip drop every time (but 1) before another big drop began. At the time I passed it off as "not this time" but kept the chart "incase". And, now we're here. If this ED...

dojitrader

With the failure of this trade:https://.tradingview.com/v/DGYNXLiu/ Not even enough strength to test broken support @.9200/50 ---- Went looking for something that makes sense. Perhaps this is it. On a larger degree we have the confluence of an A = C at a 1.618 extension and just above several support points that go as far back as July of 2007 If this support gives...

dojitrader

Don't normally play both legs of a set up But, this looks like a good place for a bounce that is very low risk. And, the resistance above was a break of solid support. (Daily Chart) This idea would also help out my AudJpy play as well. www.tradingview.com Pts. A - B - C all had some sort of double top/bottom so I'm hoping for an entry around .9150

dojitrader

Did not publish this set up because it wasn't "pretty". I was concerned with the placement of X and the A to B leg did not hit .618 fib and then the price action got really volatile before and after the entry point. I only took it after the slightly questionable hammer candle/double bottom point. Then spent the next 2 hours between feelings of brilliance and...

dojitrader

The inverse of the Euro is often, but not always, the UsdChf. And while it is confirming the Euro short the picture is a little bit cloudy. I have no testing numbers to back up my observation, however, I've noticed that the UsdChf will often trade 5 waves shorter and 3 waves deeper than the Euro. Thus, the deeper retrace on this setup. (if this is a second wave...

dojitrader

To my experience and testing, when you start bending the rules (curve fitting) for advanced patterns, you reduce the success of a trade almost exponentially and the 1.272 fib is about 10 pips higher than the posted trade. However, with both the Aussie and the Yen so week today any bounce in the Aussie should be magnified in the AudJpy - I hope Perhaps the best...

dojitrader

Wave 1 looks to be complete and the Euro is now retracing wave 2 in a zig zag a-b-c within the typical .382 - 618 % fib. The Euro will often be attracted to and rejected from "the big figure". In this case 1.3500 so I'm hoping that is the case again. I'm looking to short @ 1.3495 but, be prepared to stop out and reenter as wave 2 will sometimes retrace 100% of...

dojitrader

I was soooo disappointed that the top of the range came up short I missed one of the best trades that can be found --- A second wave Gartley ! And this one hit almost to the pip. This is what can happen when you let yourself become married to an idea/trade and stop letting the "market" tell you what is going on. Where's the next trade ? (after a few seconds of...

dojitrader

Regarding earlier post: www.tradingview.com This C leg of the overall A-B-C has extended into it's own a-b-c making an larger ab=cd that now targets a buy area closer to .9070 which is closer to the 1.628 extension (below the 1.272 original buy area) Drilling down further also shows that this a-b-c of C is showing a 5wave - 3wave- and now final 5wave zig/zag ...

dojitrader

Time and Price Harmonics/Symmetry are once again coming together at the top of the recent range which has been rejected 8 times in the last 18 months. Perhaps number 9 is at hand ? OR, if it breaks out after so many tries a stop and reverse ?

dojitrader

Apologies to Brittney Spears --- There is already a sell signal in the candlesticks and RSI divergence. Perhaps the third time will be the charm ?