DislikedThis is my prediction for the next two weeks.. a break of 204.50 will defuse the reversal .Ignored
do you use elliot wave???? or this analyse based upon momentoms??
tks
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DislikedThis is my prediction for the next two weeks.. a break of 204.50 will defuse the reversal .Ignored
DislikedI like your chart, aediaz. I don't follow wave patterns enough to know how accurate your D point might be, but I do like price retracing down to the 50 Fib around 207.60. That area is also right around the 4H 5SMA low and the 5SMA close on both the 8H and 12H charts. Current Momentum on the 4H, 8H and 12H charts shows that price could indeed run there within the next 4 to 8 hours (by London opening).
M2BIgnored
DislikedGlad you did, about the D point, I never set it as a profit-point, I rather use it as a buy point if price should get down to point D. I always take my first target at 50% retracement of BC leg. As you called , it hit down to 50%.
But I don't tend to draw ABCD just out from the blue, its more likely to occur when you have 1 more technical (S/R in these chase) with you, like now, price is @ top of downtrend channel.
BTW M2B, do you use same macd setting (22,52,18) on lower timeframes too ? Any specific reason you use so high setting ?Ignored
DislikedGM = I see nothing has changed. . .
Sell all rallies in a downtrend market, Let the charts tell you when it's time to buy long-term and Trend is your friend!
Still short @ 210.30, 209.60 and 208.49. . .Ignored
Dislikedonly lo risk until it becomes negative LOL, not sure take what it yeilds, seems like we are trying for that bigger correction. This large zigzag down has gotta justa bout be exhausted if not already and this is the late shorts about to have their heads handed to them.Ignored
DislikedSorry for the late reply, aediaz. I actually used the wrong chart to post that divergence that you saw the 24, 52, 18 MACD on. The answer is 'No', I don't use that setting on my standard charts and I don't use that setting to find divergence. I use the default of 12, 26, 9 on my standard charts to find divergence and look for trade set-ups. The higher setting I use on the 30M chart only for added confluence to another system I have been observing that only uses the 30M chart. If it looks good (and it does so far) I'll share it later on. Sorry for the confusion. Oh, and by the way, price did hit that 50 Fib at 207.60, eh? It looks a bit undecided now around 207.30. Me thinks it will now go down to at least the 61.8 Fib around 206.95. Not sure from there. I have to run out for a couple of hours right now. Be back later.
M2BIgnored
Dislikedjust seems low risk because not much going on volume wise slow market...lol... price seems like tis atracted to 89xma in market like this and 2/3 retraced like u said.... seems ok to try it to meIgnored
DislikedPrice is trading below daily pivot and looks to be headed toward 205.59/60 or so 1st.
Good luck in your trading today. . .Ignored
DislikedPrice is trading below daily pivot and looks to be headed toward 205.59/60 or so 1st.
Good luck in your trading today. . .Ignored
Dislikedyeah i am tired and confused by price action last couple days i saw 204.92 as possibility also .... just cant get the rythm here lately ... staying out till i am sure what i seeIgnored
DislikedYep, best to stay out when you are tired, but remember we just made a lower high @ 210.45 from the high before @ 212.50. . . Price shouldn't go any higher so I'm thinking whenever it goes back up it should challenge b/n 207-209 area then back down again. Price will eventually hit 200 because fundamentals have not change. We are in a downtrend market so its best to. . .
Sell all rallies (not buy) in a downtrend, let charts tell you when it time to buy long-term and trade with the trend because TREND IS YOUR FRIEND!Ignored