Mid-day update;
The GRIND, bleh. Couple of ABCD's in play, I could go 0-2 or 2-2, depends on if this market gets a fire lit under its arse.
EURUSD 1min
http://i.imgur.com/RhBI6.png
The dark pink was a winning ABCD, but only a half as it did not trigger the 78.6% add-on trade, only the 61.8%. The light green (seafoam) is in play, but too is only a 61.8% play, whereas the small cream ABCD is a full play (both 61.8% and 78.6% levels/trades triggered). Good news is that a stop-out of the light green means the cream trade wins. Worst case would be a drop and stop-out of the cream followed by a pop and stop out of the seafoam. Would be crazy price action, but it could happen. Best case of course is a pop that hits cream target, then drop that hits seafoam target, if only!
Anyways, keep watching, keep trading, watch, learn, prosper.
Thanks Mr. Pip for the movie. My not so humble opinion is that your trading is light years ahead of ours and it is easy to get bogged down in the details. You process price action very quickly, know your software perfectly, and have an intuitive feel for what you will do before it occurs = skilled.
I would suggest that new guys find 1 pattern in 1 currency cross and trade only it. ABCD in the EURUSD is my plan. It is immediately apparent that you can become plenty profitable only trading it--if, and only if, you are patient.
Update--Cream ABCD went to target, Seafoam ABCD hit 78.6%, now to see if we get a reversal to the downside or will it be stopped out. Also the green ABCD is invalidated by move up. Cheers!
The GRIND, bleh. Couple of ABCD's in play, I could go 0-2 or 2-2, depends on if this market gets a fire lit under its arse.
EURUSD 1min
http://i.imgur.com/RhBI6.png
The dark pink was a winning ABCD, but only a half as it did not trigger the 78.6% add-on trade, only the 61.8%. The light green (seafoam) is in play, but too is only a 61.8% play, whereas the small cream ABCD is a full play (both 61.8% and 78.6% levels/trades triggered). Good news is that a stop-out of the light green means the cream trade wins. Worst case would be a drop and stop-out of the cream followed by a pop and stop out of the seafoam. Would be crazy price action, but it could happen. Best case of course is a pop that hits cream target, then drop that hits seafoam target, if only!
Anyways, keep watching, keep trading, watch, learn, prosper.
Thanks Mr. Pip for the movie. My not so humble opinion is that your trading is light years ahead of ours and it is easy to get bogged down in the details. You process price action very quickly, know your software perfectly, and have an intuitive feel for what you will do before it occurs = skilled.
I would suggest that new guys find 1 pattern in 1 currency cross and trade only it. ABCD in the EURUSD is my plan. It is immediately apparent that you can become plenty profitable only trading it--if, and only if, you are patient.
Update--Cream ABCD went to target, Seafoam ABCD hit 78.6%, now to see if we get a reversal to the downside or will it be stopped out. Also the green ABCD is invalidated by move up. Cheers!