dojitrader

dojitrader

Harmonically this could "look" rather enticing and (hardly a great reason for a trade) the measured move takes this back into common resistance zone that may be an EW 4th wave so, IF the candlesticks trigger a solid long entry the R/R would be worth the try. Of course, the alternate EW count suggests this is the start of one more down leg AND THEN a correction on...

dojitrader

The 3rd Drive @ 1.272 Ext. lands around .9300 while the 3rd measured move points to .9272 which is just slightly below support. (perfect for a crack and snap?) Time harmonics seem to be compressing so much needs to happen by end of day tomorrow. Hopefully another pattern will emerge, Elliottwave, and/or the candlesticks will yield some fine tuning and a clean...

dojitrader

IF - This is an A-B-C Flat --- THEN - the .886 area of the Bat pattern would be a reasonable, low risk area to enter long, anticipating a C wave in a larger degree 4th wave move to the 4th wave of previous degree. Don't see this as a very impulsive 5th wave to new lows, however, slightly new lows are possible with a B wave expanded flat, which might be why this c...

dojitrader

But First ~~~~~ Catch an aggressive short @ 92.29 to the bottom. (I'm an hour late publishing this short) THEN, if price action lands in the 91.00/90.50 area will be looking for the candlesticks to trigger a long entry. Bending the rules needed for this pattern because waves 1 and 2 do not lend themselves to the subdivision of 3 waves within each internally that...

dojitrader

Trading_an_Edge 's chart has me looking into September: And I think I'll be taking the other side of the trade. Seems rather bullish to me UNLESS .9035 is violated in this current projected 4th wave. The scale of this chart in terms of depth and breath is probably not very close, but, the basic idea will be interesting to watch play out. So, I think I'll spend...

dojitrader

Shorting the Aussie is getting to be a crowed trade, SO, Entering this set up will require exact === IF there is a clear iii and iv wave THEN RSI must show a solid divergence. PLUS the candlesticks must also give a bearish trigger ----- Otherwise I'll probably ignore this trade at the top and look for a retracement later.

dojitrader

IF the correction is over OR just putting in a B wave THEN, the Cypher - along with a corrective Elliottwave count should trigger a decent, low risk entry, around 1.7780. If this doesn't work, then, I'm completely lost and want out Immediately !!! Risk is well defined as any price below 1.7765 and the EW count is completely invalid, so, I would no longer put...

dojitrader

A few traders have suggested a similar EW labeling for this impulsive move and the only difference is the 4th wave labeling as a 3-3-5 expanded flat and the possibility of an extended 5 of 5. So, with an expanded flat ---- IF wave 5 = wave 1 then the first chance to go long will be about .8325. Should it continue down then extensions galore may be in play. I'm...

dojitrader

Or In Between ~~~~~~ IF we get a clear 5 wave subdivision down to complete a projected C wave it should land somewhere between .8450/.8420. Hopefully the 5 waves and candlesticks will fine tune the entry trigger. Targets for a 3rd wave could be up around .8575 which is 1.618 of wave 1 OR .8515 if this is only a C wave. If I'm wrong altogether ----- Just 1 pip...

dojitrader

As of this posting I'm long @ .9250 taking advantage of traderWgun's great analysis. Looking down the road there could be an extended Shark since Pt C only tapped the 1.13 fib ext and the A to B ratio is above the .382, but, it's not above the .500 which is my preference for an extended Shark. SO, will it make it to the top of recent highs again ? Sometimes...

dojitrader

This wave count seems pretty logical - until - you try to figure the invalidation point - unless it's some sort of Ending Diagonal. BUT, that doesn't make a whole lot of sense either. Blue wave 1 seems to be a moving target and blue wave 4 would enter the price area of wave 1 unless ---- ***See daily chart *** Basically it's a decent EW idea with low risk and I'm...

dojitrader

Shark patterns have no particular rules, that I'm aware of, for the A to B ratio, but, I've noticed that the deeper than .382 the A to B - in this case @ .564 - the more likely it will target point D at 1.13 ext of C to X instead of the ratio .886. Resistance is just above around the .8080 area which helps the confidence of the trade set up, BUT, I really wish...

dojitrader

This Gartley pattern is not very bullish, except for the 1.272 of A to B meeting @ the .786, But, when you try and label the EW count it looks completely corrective and not even "close" to being bullish. So, unless this is an X wave for a more complex corrective price action - the Gartley is doomed to failure. Thus, I'll be seeking extra clear guidance form the...

dojitrader

Another great analysis from traderWgun ~~~~ A Bat from gpuri ~~~~~ I think the Gartley is from my own eyes ~~~~~ Looking to short around the 2.0200 area Smart stops are HUGE and way to big for my psychology to deal with, So, I'll hope the candlesticks will help me out with a smaller risk even though that might stop me out prematurely - but with an eye to reenter.

dojitrader

A reasonably harmonic/symmetrical Butterfly pattern caught my eyes as I was studying this chart from traderWgun: www.tradingview.com trying to figure my entry and risk noticed the butterfly lands right on the entry where A = C of the X leg near the top of the entry zone marked on his hourly chart. Plus, this current C wave seems to be subdividing into a clear 5...

dojitrader

Thrust from a B wave triangle is playing out almost in classic price action. (wondering what will happen now that I've noticed ~~~) Anyway, should be all there is if it does not extend in some manner, 1.4400 area should offer an excellent short opportunity with low risk and about 200 pips reward.

dojitrader

A = C around 1.4242 which is also the .618 Fib But, The Bat is down around 1.4212 Perhaps the candlesticks and a clear 5 wave subdivision within C wave will clarify the trigger for a long entry or remind me it's time for a little vacation ~~~~~~ Risk, of course, is below 1.4198 Two profit zones depending on this being a C wave or a 3rd wave.

dojitrader

Looking to trade the triangle set up long from about 102.05 with low risk to know if this is a valid set up. AND THEN, if price gets there, a high reward short for trend continuation to the downside. As noted on the chart, a lot of IF's on where to go short, so, as usual I'll be watching for the candlesticks to share some insight and a clear 5 wave rally within C...