Possible WW FTSE100 H1
Wolfe Waves - Get in the Zone
- #2,123
- Dec 2, 2017 1:43am Dec 2, 2017 1:43am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
{quote} so is that eurcad
The EUR/CAD chart looks so beautiful now
Pride always comes before destruction.... -Proverbs 16:18
- #2,124
- Dec 2, 2017 1:51am Dec 2, 2017 1:51am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
what do you guys think off gbp/usd? big bearish coming ? {image}
Pride always comes before destruction.... -Proverbs 16:18
- #2,126
- Dec 3, 2017 1:40am Dec 3, 2017 1:40am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #2,128
- Dec 21, 2017 6:55am Dec 21, 2017 6:55am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Two weeks without a post. Ouch.
EUR/GBP 1HOUR BEARISH CWW
EUR/GBP 1HOUR BEARISH CWW
Pride always comes before destruction.... -Proverbs 16:18
- #2,130
- Dec 21, 2017 9:07pm Dec 21, 2017 9:07pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #2,131
- Dec 21, 2017 9:10pm Dec 21, 2017 9:10pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Two weeks without a post. Ouch. EUR/GBP 1HOUR BEARISH CWW {image}
At the moment, major confluence of pivot support at 8850, would like to see a break lower to TP area. Might have to bank one position later tonight depending on price action.
Testing out a new profit target strategy. Kind of a conservative "fan" area, not necessarily all the way to the theoretical TP line.
Pride always comes before destruction.... -Proverbs 16:18
- #2,135
- Dec 21, 2017 10:30pm Dec 21, 2017 10:30pm
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #2,139
- Edited 4:20am Dec 27, 2017 4:08am | Edited 4:20am
- Joined Aug 2013 | Status: Trader | 4,901 Posts
Wolfe wave trading requires patience and conviction. Forex 101 says don't try to pick tops and bottoms. In essence, that's exactly what we are doing, at least on a localized basis. We aren't trying to predict some major shift in sentiment. We are only trying to capitalize on a temporary/localized market imbalance.
Example here. Why try and step in front of a speeding train. Well, for me, because the risk/reward is much more attractive. This is an aggressive entry. Many traders would rather wait for price action confirmation before entering, and that's fine and a good habit to get into. However, on smaller time frames, you may need a bigger SL, thus decreasing your risk reward. For bigger TFs, waiting for PA confirmation doesn't cut into your risk/reward as we would be looking for much larger moves anyways.
This may seem like playing with fire. I like fire, but I'm also a Pisces so I LOVE water and know when to douse the flames if the situation gets out of control
GBP/USD 30MIN BEARISH CWW
A look at the 5MIN chart shows a classic retest. That's a good sign. Hopefully momentum will die off and price will retreat.
Example here. Why try and step in front of a speeding train. Well, for me, because the risk/reward is much more attractive. This is an aggressive entry. Many traders would rather wait for price action confirmation before entering, and that's fine and a good habit to get into. However, on smaller time frames, you may need a bigger SL, thus decreasing your risk reward. For bigger TFs, waiting for PA confirmation doesn't cut into your risk/reward as we would be looking for much larger moves anyways.
This may seem like playing with fire. I like fire, but I'm also a Pisces so I LOVE water and know when to douse the flames if the situation gets out of control
GBP/USD 30MIN BEARISH CWW
A look at the 5MIN chart shows a classic retest. That's a good sign. Hopefully momentum will die off and price will retreat.
Pride always comes before destruction.... -Proverbs 16:18
