Plan the Trade

There are trades absolutely everywhere if you drop down to a faster tick. It is crazily fast, but at least you can find some sensible entries;

Just a simple hook;

Only 308 ticks from two trades ?

Tsk,tsk, must try harder

Went in saying 2 losses and I am gone after 2nd trade no need to push it

No way would I attempt a hook in this environment to be honest I would rather it go back to normal though money comes very quickly

well done guys great trading .. i increased sl to 16 .. had poor start/good finish:

Great recovery ras market wss whizzing today

These crazy moves are well suited to SB's even with 1 point spread.

Here's how it looks on IG, you would almost think it was normal;



6 point risk, stand the first retest and potential 50 point gain!)

Grandmother on her way to heaven today

Sorry to hear that

my condolences .
A lot of courage for you and your family ..

I can not see well patterns on the graphs.
For example here with pattern 2b, the points are right?


thank

Perfect

Condolences Ygr...

I have always found that when someone very close dies, it is as if the veil between this world and the next is pulled so very tight that by just leaning gently forward, I feel completely together with (s)he who has departed, in spirit if not in form. Such precious moments, even though naturally filled with grief...

is it not actually this...

The point 3 is higher than point 1 which makes it a 2b the pullback is where you have point 3 which actually makes the real 123 pattern. The whole pattern is a head and shoulders pattern

ah right

Wow market was up 1000 ticks today

Rudy - I've borrowed CG's hat while he's still having his morning siesta to make this 2B pullback entry crystal clear, because there's been a lot of confusion about it over the years H, CG & I have traded together. Please note : no Elliot Wave technicians were harmed in the drawing of this chart :



* The 123 that sets things in motion is different to how you drew it (I know you were trying to show the 2B); the 123 entry is the break of the 2 point level as shown.
* Price goes above the 2 point, then fails & reverses to break the 3 point level : this is the classic 2B entry short as originally described by Trader Vic.
* However, we do not normally take a plain 2B, as it's not a pullback, so H took the perfect "2B pullback entry" at the 6 point for the Trade of the Year.
* You can clearly see why the whole shebang of failed 123>2B>2B pullback makes the H&S pattern Harold mentions.

@fleurdelys : try putting an SMA(1) on your chart for awhile, it helps to see these patterns in real time :



Now, I'll just give CG his cap back before he notices I borrowed it...

If the cap fits, JT...)))