If I understand a little bit of what 4xForcaster is saying in the related idea *below* I'll be waiting for a test of equal or lower prices with the RSI also testing the broken trend line. So far things are looking to repeat as circled in the past. The buy zone is a bit of a mystery so the candlesticks might supersede a long entry, ideally, around 101.00
The inverse - mirror trade of the EurUsd in related links. D is right at best support, but, in between the .382 and .500 fibs on the Daily chart. This makes stops difficult with layer after layer of support below where o where should they go ??? The 1.618 fib ext should create at least decent rejection at first ~~~~ Ah yes, the candlesticks should help me out with...
Which one is the one or maybe try both ? 1.618 fib ext A to B confluence is good on both ~~~~ The harmonics area little better on the Green and the entry is slightly above the .382 daily fib @ 1.3690 Resistance levels meet with both point D's ~~~~ Still the fib confluence on the blue should at least create a reaction, so, thinking I"ll play the blue with tight...
I have quite shamelessly taken the Alt. ED count of traderWgun's EurAud analysis from his new blog: www.traderwgun.com {{check it out, he's off to a rousing start !}} and drilled down looking for a trade to find this come up short by 2 pips ~~~~~ 2 lousy pips ! (so many entries have blasted through no longer front running) However, this blast off has given the...
Interesting measured moves that repeat and repeat, so, will it repeat again to the down side. In at 102.8 with stops @ 102.28 Harmonics do your thing !!!
I was closely studying traderWgun EW count, ***See link in related ideas*** (he understands complex corrections very well !) when I noticed this 3 Drive completing in the same area. {{3 drives are everywhere this week. Does it mean something for the markets ?}} I digress ~~~~~ The 3rd 1.272 entry is right about current price @ .8040 or so, but, I'm thinking that...
Drilling down from my original idea shows an hourly 3 Drive pattern has completed, BUT, I still don't see a candlestick trigger to enter short, just yet, as price action tests X of the related idea. Price is above the trend line, but, until price prints above 94.08, in EW, the triangle is not invalidated completely. Candlesticks do your thing !!!
Parts of this wave count are weak ~~~ Especially the 3rd wave, yet, the overall labeling seems plausible enough to risk some pips. As usual I'm not using a limit order and will look for the candlesticks to trigger an entry and refine the stops. If wave v equals wave i then around 1.0885 should be pretty close.
OK, so I was really hoping that you would know ~~~~~ If it's a valid idea then this might be the possibilities. 1} Wait for a potential double top sell signal 2} Sell a new/higher break of the trend line 3} Sell the break of the spinning top @ 172.09 4} Sell the break of false break @ 171.97 5} This idea is off the mark but still sell the top trend line Which...
The strength of this rally and the fact that I've been on the wrong side of this pair a couple of times lately ---- A test of resistance seems more likely than a quick reversal at D. And, it will lower the risk. Can't make much of an internal wave count so I'll fall back on the candlesticks for a final entry trigger.
These ab=cd's do have a tight confluence with all three point d @ 1.4470/80 within a large support zone from the daily chart. However, a to b ratios of the smaller degree don't really add confidence and a large support zone requires larger stops Chart #2 Shows measured moves of equal length This points to a buy zone @ 1.4400/50 Closer to the bottom of the Daily...
So I've borrowed the Triangle from traderWgun ~~~ Added a Gartley that does not quite fit my rules ~~~ Figured out the 4hr resistance all on my own ~~~ The double bottom measured move was from - I forget ~~~ Ignoring the 1.272 fib ext of A to B and the ab=cd doesn't help ~~~ There is almost a wave count with 4 and 5 to go ~~~ And, I still need the candlesticks to...
The headline shows my trading insecurities, I suppose ~~~~ But, it all adds up to a short around 95.75 with stops above X That's pushing my comfort zone about 50 pips, especially on 3 units. Maybe the candlesticks will help - A Lot ! The EW may not actually help but it seems reasonable. Even the alternate count of a-b-c=A-B-5 wave C instead of the 1-2, i-ii comes...
Sold short @ 1.0975 for a low risk shot at corrective retracement. The daily chart shows a possible retrace to the neckline so I'm not too certain of full profit projections for the Butterfly. Strong RSI divergence was the enticement to enter. The better trade is probably the double bottom when it tests the neckline, although, the stops are much to large for my...
This looks pretty good as it also has the trend line support coming into play which gives this trade a well defined, low risk, my favorite kind of trade. If you're thinking trend continuation this may be a good opportunity to enter long.
Looking for a flat, so, it will probably be a zig zag ? The R/R is weak on this trade, depending on how the price action actually play out, but, if the pattern plays out as anticipated it seems to be a clear probability for a 5th wave profit with low risk where wave 5 would equal wave 1 around 1.9035/40 which is nicely into resistance. Maybe then a short into...
There is also a related chart from dd4lo that shows a Cypher sell zone in the same area. I'm shooting for A = C around 102.72 for lower risk unless the candles start screaming "Sell Now" ! at the lower levels of the Gartley and AB=CD. I'm thinking corrective price action ~~~~~ Is the market thinking impulsive move beyond ?
An updated count from 3 days ago looking for an extended 3rd wave, so it seems there is more to go before we reach the top resistance in the area of 105.00. Just about anything above that level and this count is wrong. I might try for a long position at iv to v but, the big play is a short that could be good for 10.00 drop ?