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Coreg's EW+HP+D/W Range

  • #341
  • Jul 17, 2024 9:01am Jul 17, 2024 9:01am
Quoting Coreg2004
{quote} ...possible scenario {image}
I think, it can make extended flat correction.
Attached Image (click to enlarge)
Click to Enlarge Name: flat.png Size: 47 KB
  • #342
  • Jul 17, 2024 9:19am Jul 17, 2024 9:19am
Quoting Coreg2004
{quote} S&P 500 max out for wave 5...now we wait for exuberance.{image} 2 trades so far...{image}
Discretionary trading, you make the decision and live with it. Don't look back.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MES SEP24 (Daily) 2024_07_17 (10_17_32 AM).png Size: 55 KB
Click to Enlarge Name: MES SEP24 (5 Minute) 2024_07_17 (10_17_06 AM).png Size: 83 KB
Always trade your own plan...I don't provide trading signals.
  • #343
  • Jul 17, 2024 10:38am Jul 17, 2024 10:38am
Let’s see which fib level holds
Attached Image (click to enlarge)
Click to Enlarge Name: 7C315492-8C78-4B1B-8B90-FA0E5C2FD324.jpeg Size: 585 KB
  • #344
  • Jul 17, 2024 11:12am Jul 17, 2024 11:12am
Quoting rehmatkhan00
Let’s see which fib level holds {image}
...
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.17 15Md.png Size: 41 KB
Always trade your own plan...I don't provide trading signals.
  • #345
  • Jul 17, 2024 12:01pm Jul 17, 2024 12:01pm
Quoting Coreg2004
{quote} ... {image}
If this is expanded flat correction it can come down to 1.0917-22.
Attached Image (click to enlarge)
Click to Enlarge Name: flat.png Size: 50 KB
  • #346
  • Jul 18, 2024 7:51am Jul 18, 2024 7:51am
not much has changed from yesterday—either wave 4 or a correction in the making. 1.0907 (end of w1) critical for your count.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.18 1H.png Size: 45 KB
Always trade your own plan...I don't provide trading signals.
  • #347
  • Jul 18, 2024 7:57am Jul 18, 2024 7:57am
Quoting Coreg2004
not much has changed from yesterday—either wave 4 or a correction in the making. 1.0907 (end of w1) critical for your count. {image}
The price spends most of the time in ranging that's it is stuck and not moving at all.
  • #348
  • Jul 18, 2024 8:09am Jul 18, 2024 8:09am
Quoting rehmatkhan00
{quote} The price spends most of the time in ranging that's it is stuck and not moving at all.
rehmatkhan, I took short at Tokyo open for 20 pips (target 1.0916 AB=CD) still in the trade. The daily range in the EU is only 50 pips, which I don't think is suitable for day trading.
Always trade your own plan...I don't provide trading signals.
  • #349
  • Jul 18, 2024 8:43am Jul 18, 2024 8:43am
Quoting Coreg2004
{quote} rehmatkhan, I took short at Tokyo open for 20 pips (target 1.0916 AB=CD) still in the trade. The daily range in the EU is only 50 pips, which I don't think is suitable for day trading.
Actually I was wrong once again and I didn’t read it right……anyway lesson learned
  • #350
  • Jul 18, 2024 8:49am Jul 18, 2024 8:49am
Quoting rehmatkhan00
{quote} Actually I was wrong once again and I didn’t read it right……anyway lesson learned
rehmatkhan, don't think like that. You know we had 2 scenarios to play. I took a short b/c at 8 pm NY time I saw the dollar chart and decided to play the second leg in AB=CD pattern for EU (GU was a better choice but I didn't want to be in 2 trades overnight). This time the market cooperated with my choice.
Attached Image (click to enlarge)
Click to Enlarge Name: DXY 07.18 D.png Size: 41 KB
Always trade your own plan...I don't provide trading signals.
  • #351
  • Jul 18, 2024 9:01am Jul 18, 2024 9:01am
...
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.18 15M.png Size: 37 KB
Always trade your own plan...I don't provide trading signals.
  • #352
  • Jul 18, 2024 9:01am Jul 18, 2024 9:01am
Quoting Coreg2004
{quote} rehmatkhan, don't think like that. You know we had 2 scenarios to play. I took a short b/c at 8 pm NY time I saw the dollar chart and decided to play the second leg in AB=CD pattern for EU (GU was a better choice but I didn't want to be in 2 trades overnight). This time the market cooperated with my choice. {image}
this correction seems to be really deep and if it touches or enter into 1st wave area then it will invalidate the counting as we know the 4th should not cross into same price area as wave 1.
  • #353
  • Jul 18, 2024 9:19am Jul 18, 2024 9:19am
Quoting Coreg2004
... {image}
according to your labelling, it looks like the impulse wave has been completed and this is deeper correction and I completely misread it as I was thinking that there is still one more wave to upside and after that we will see a bigger correction.
  • #354
  • Jul 18, 2024 9:27am Jul 18, 2024 9:27am
Quoting Coreg2004
... {image}
one thing more if this Bullish Bat pattern unfolds then the next wave can be really strong because that will be considered a 3rd wave and the current wave which is being corrected should be a 2nd wave.
  • #355
  • Jul 18, 2024 9:27am Jul 18, 2024 9:27am
Quoting rehmatkhan00
{quote} according to your labelling, it looks like the impulse wave has been completed and this is deeper correction and I completely misread it as I was thinking that there is still one more wave to upside and after that we will see a bigger correction.
After the completion of the ABC correction based on the price action on the 15-60M chart, we should expect a new high. Do we get it? yes, maybe, perhaps. Stay with the chart.
Always trade your own plan...I don't provide trading signals.
  • #356
  • Jul 18, 2024 9:31am Jul 18, 2024 9:31am
Quoting Coreg2004
{quote} After the completion of the ABC correction based on the price action on the 15-60M chart, we should expect a new high. Do we get it? yes, maybe, perhaps. Stay with the chart.
thanks for explanation it’s really helpful and next time I will be focusing more
  • #357
  • Jul 18, 2024 9:51am Jul 18, 2024 9:51am
we have a bullish hammer on 30 mint chart at the potential reversal zone.
Attached Image (click to enlarge)
Click to Enlarge Name: hammer.png Size: 51 KB
  • #358
  • Jul 18, 2024 10:02am Jul 18, 2024 10:02am
If this wave covers equal distance of the last impulse wave then it can shoot up to 1.0880
Attached Image (click to enlarge)
Click to Enlarge Name: 5th wave.png Size: 52 KB
  • #359
  • Jul 18, 2024 10:24am Jul 18, 2024 10:24am
Don't rush with long on GU
Attached Image (click to enlarge)
Click to Enlarge Name: GU 07.18 15M.png Size: 35 KB
Always trade your own plan...I don't provide trading signals.
  • #360
  • Jul 18, 2024 10:33am Jul 18, 2024 10:33am
Quoting Coreg2004
Don't rush with long on GU {image}
Most of the the time both GU and EU make similar pattern.
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