Opened a small short @1400 in case my main limit order isn't triggered. The primary motivation for the small position is to eliminate potential regret.
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- #1,145,941
- Edited 11:59am Nov 21, 2018 11:38am | Edited 11:59am
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- #1,145,942
- Nov 21, 2018 12:06pm Nov 21, 2018 12:06pm
- | Membership Revoked | Joined May 2015 | 2,903 Posts
- #1,145,943
- Nov 21, 2018 12:08pm Nov 21, 2018 12:08pm
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{quote} Approaching the entry point. Opened a small short @1400 in case my main limit order isn't triggered. The primary motivation for the small position is to eliminate potential regret. {image}
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- #1,145,944
- Edited 12:26pm Nov 21, 2018 12:14pm | Edited 12:26pm
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- #1,145,945
- Nov 21, 2018 12:34pm Nov 21, 2018 12:34pm
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{quote} 1370 is an excellent short location because the trade is unlikely to have any drawdown. However, the location of price in your chart looks like a great short opportunity targeting 1370 initially with a stop above the high of the previous bar. If you took that trade you could trail profits using the Andrew's sliding parallel line (yes, the so called cloned line is part of the Andrew's Pitchfork ans wasn't invented by any FF doucebag!). Further, if you have access to smart-lines you can place it on the sliding parallel so you don't have to...
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- #1,145,946
- Nov 21, 2018 12:38pm Nov 21, 2018 12:38pm
- | Membership Revoked | Joined May 2015 | 2,903 Posts
{quote} I do this all the time for to find the points of support / resistence, but now i drawed the trendlines for to find the point for to open the trade.
P.S. I like the way you draw chart lines!!!!!
- #1,145,947
- Nov 21, 2018 12:52pm Nov 21, 2018 12:52pm
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{quote} If you compare the yellow and white shapes, you can see that the white trade offers less uncertainty for approximately the same reward. I hope it makes sense. {image}
EDITED: I use Elliot and Gann for to draw the trendlines.
.
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- #1,145,948
- Nov 21, 2018 12:54pm Nov 21, 2018 12:54pm
- | Membership Revoked | Joined May 2015 | 2,903 Posts
Closed my shorts and still have the sell limit @ 1404. I may have closed them too early but there is another Pitchfork (upsloping) in play.
I know basic Elliot Wave and have a pile of unread GANN books next to my bed. 
I find it very hard to study GANN. I intend to buy an extensive Elliot Wave course from Mircea Dologa.
{quote} Yes, but the risk is bigger too, because the bears not is showing strength. In the weekend i'll read about Andrew's Pitchfork .
I find it very hard to study GANN. I intend to buy an extensive Elliot Wave course from Mircea Dologa.
- #1,145,949
- Nov 21, 2018 1:17pm Nov 21, 2018 1:17pm
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- #1,145,950
- Nov 21, 2018 1:18pm Nov 21, 2018 1:18pm
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Closed my shorts and still have the sell limit @ 1404. I may have closed them too early but there is another Pitchfork (upsloping) in play. {quote} I know basic Elliot Wave and have a pile of unread GANN books next to my bed.
https://www.forexfactory.com/showthr...05#post9159705
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- #1,145,951
- Nov 21, 2018 1:33pm Nov 21, 2018 1:33pm
- Joined Sep 2015 | Status: Under Pressure | 4,596 Posts
Closed my shorts and still have the sell limit @ 1404. I may have closed them too early but there is another Pitchfork (upsloping) in play. {quote} I know basic Elliot Wave and have a pile of unread GANN books next to my bed.
Together we can be strongest
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- #1,145,952
- Nov 21, 2018 1:34pm Nov 21, 2018 1:34pm
- | Membership Revoked | Joined May 2015 | 2,903 Posts
{quote} Inside the channels, you have Elliot + Gann. Because of this i draw the channels in my analysis. Is easiest this way.
I will try to read a little GANN this weekend.
- #1,145,953
- Edited 2:25pm Nov 21, 2018 1:49pm | Edited 2:25pm
- Joined Dec 2012 | Status: Trader | 1,798 Posts
Closed my shorts and still have the sell limit @ 1404. I may have closed them too early but there is another Pitchfork (upsloping) in play. {quote} I know basic Elliot Wave and have a pile of unread GANN books next to my bed.
Once I started with EW...but could not make it great for me.... until I saw HEW. Actually it's the same basis but it made a reorganization in the wave-count and with all the projections and estimates it's more logical I think. There is also much less space for interpretation...eg. a failed fifth does not exist anymore because of the reorganization of the wave-counts. It's also complete fractal even in the smallest timeframes.... and then it's a shame that in case of a big move...sometimes you cannot see the different counts in one bar....and then it comes to interpretation and experience.
And even then a day like today...is difficult and
--- 
But I have to warn you HEW is a time-consuming hobby
ps. EW or HEW it's not a system....it's "just" a sort of price-indicator. So you need other things for confirmation etc....etc...
You can manage risk, but you can't manage the return
- #1,145,954
- Edited 2:35pm Nov 21, 2018 2:09pm | Edited 2:35pm
- Joined Dec 2012 | Status: Trader | 1,798 Posts
phhh what a day.... one thing is clear. the day was shoppy and that tells me, it's definitely a correction / indecision so that must be a wave-b or a wave-ii or a wave-iv...and yes we are currently in a wave-ii in the current count. So that looks good.
Indeed a little complex corrections are always a pain. I am still searching for more guidance in these situations... You know we see a correction, you see it's more complex...and still you are not sure when the best situation for placing a trade. Anyway....that's the path of my learning now
We now have 3 degrees of dept....
The first degree = light blue
the second degree = dark green
the tirth degree darkblue
...all fractal all measurable.....
Unfortunately we only have a darkblue wave-i (waves are only measurable if we saw wave-i and wave-ii.)
I think the darkblue wave-i is around 1.1375. Then we need to search for wave ii....can be deep or shallow... maybe shallow because of the dailypivot?! or a normal typical retracement is 50% (=1,1401)
The green wave-iii (darblue waves a, b and c) can expected around 1.1156 (but it can change depending how the darkblue wave behave)
Indeed a little complex corrections are always a pain. I am still searching for more guidance in these situations... You know we see a correction, you see it's more complex...and still you are not sure when the best situation for placing a trade. Anyway....that's the path of my learning now
We now have 3 degrees of dept....
The first degree = light blue
the second degree = dark green
the tirth degree darkblue
...all fractal all measurable.....
Unfortunately we only have a darkblue wave-i (waves are only measurable if we saw wave-i and wave-ii.)
I think the darkblue wave-i is around 1.1375. Then we need to search for wave ii....can be deep or shallow... maybe shallow because of the dailypivot?! or a normal typical retracement is 50% (=1,1401)
The green wave-iii (darblue waves a, b and c) can expected around 1.1156 (but it can change depending how the darkblue wave behave)
You can manage risk, but you can't manage the return
- #1,145,955
- Nov 21, 2018 2:11pm Nov 21, 2018 2:11pm
- | Membership Revoked | Joined May 2015 | 2,903 Posts
It is amazing how my invention, the great 199 period MBMA resists price. 
- #1,145,956
- Nov 21, 2018 2:55pm Nov 21, 2018 2:55pm
- Joined Sep 2015 | Status: Under Pressure | 4,596 Posts
It is amazing how my invention, the great 199 period MBMA resists price.
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- #1,145,957
- Nov 21, 2018 3:52pm Nov 21, 2018 3:52pm
- Joined Dec 2012 | Status: Trader | 1,798 Posts
{quote} So hard for the price go to 1.1370.
You can manage risk, but you can't manage the return
- #1,145,958
- Nov 21, 2018 4:17pm Nov 21, 2018 4:17pm
- Joined Sep 2015 | Status: Under Pressure | 4,596 Posts
{quote} I believe this is currently the situation.... {image}
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- #1,145,959
- Nov 21, 2018 4:19pm Nov 21, 2018 4:19pm
- Joined Dec 2012 | Status: Trader | 1,798 Posts
You can manage risk, but you can't manage the return
- #1,145,960
- Nov 21, 2018 4:29pm Nov 21, 2018 4:29pm
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