I'VE COMBINED A NUMBER OF STRATEGIES TO GENERATE THIS IDEA BUT ALL ARE PRETTY SIMPLE. THERE IS A PATTERN FORMATION TAKING PLACE. I'VE PLACED THE D POINT AT A STRONG LOOKING SUPPORT THAT I'VE ELLIPSE TO THE LEFT, (YOU WILL HAVE TO SCROLL LEFT). FIB RATIO CONFLUENCE IS WHAT IS USED TO GENERATE THE PRICE MOVEMENT, ALL THE PULLBACKS ARE SOLELY ON THE 50% BECAUSE OF...
3 OPTIONS FOR DECLINE, I'M STICKING WITH NO. 3 BECAUSE OF STRONG RESISTANCE ZONE
A FOLLOW UP ON THE PREVIOUS PATTERN I POSTED. STILL LOOKING FOR FURTHER GAINS DOWNWARD.
Treating this as a No.4 wave Elliott, where the No. 4 wave is often saturated with flats and triangle, i'm awaiting confirmation of the next two candles to verify a move down to second channel line. If the market presents a catalyst in favor of my direction. i wouldn't be too presumptuous to set a limit order at 1.31515, rather i'd prefer to bring my stops past...
Well this is embarrassing really, in my post on the 4hr time, the abcd pattern showed me the PRZ, and i was observing the price action in that zone, a few days ago it was showing a sign of trend reversal but as you can see the market went lower showing that the market can do whatever it wants and we cant be correct all the time. So it is imperative to observe the...
Yesterdays Pattern was invalidated when the market moved lower to its current position not giving us a reason to enter the market in the PRZ, however it just proves how important it is to consider the pattern formation on the larger time frame when trading the lower ones, now we have a congruence of pattern to complement the completion of the Daily pattern making...
This is a potential short opportunity in the EURUSD even though the general trend in the daily is long. Those trading in 1 hour should look in this trade for a few pips gain but careful not to be too greedy due to the Larger uptrend on the daily.. Those who wants to trade this should carefully observe the PRZ as described by scott carney. The price action in the...