Hi Strat,
My first analysis as part of my learning the old thread. I know there will be errors as part of my learning curve.
Bigboss: Long term down trend - from 1997 onwards. Intermediate trend - upper trend with month august hitting 2.08. Immediate trend - upper trend - with price making Higher lows. From august 2017 onwards. My reading through the last 6 months, bigboys are pushing the price upwards.
Boss - Swings are better read on the boss chart. Hence I drew my fibs there. Price is being resisted by 38.2% fib resistance. Already it was the one that didn't allow the rice to move higher in April 2017. Fib with weekly control candle confluence. We can conclude the resistance is strong as you can go back in time and find that in 2009 this resistance held the price well. Till last week closing, WCC was the 5th candle (by not counting the on-going candle) and last week candle has become WCC since it closed at 1.7647 while the previous WCC high was 1.7639 in my charts.
Worker - AS part of the last major downtrend that ended in 9th August 2017, the last HH was on 3rd august 2017. For me to consider price is in an uptrend, this has to be broken. There were 3 opportunities in the past. 29th September, 25th October and 1st November. However, if has put a buystop above 25 pips beyond the high of these candles, orders wouldn't have been filled. Ideal entry is on 15th November 2017 (identified by an arrow), when the price is supported by Strat Shadow and price gets to an uptrend. Momentum is marked in blue lines. very good momentum for us to enter on 15th November. There is a similar entry on 12th January.
In the present scenario there is a WCC resistance and D1 resistance of 1.7851. I shall wait for a week and if the price gets into a new WCC beyond 1.78517, I can enter a trade with the right bullish PA and ride the trend. SL has to go around 1.7751 which is nearly 150 Pips, however the minimum expected rewards is around the next minor resistance around 300 pips - 1:2 - and further if I could ride it, the major resistance is around 1.9287. It will be not a 'fat city' . However a significant trade.
Sorry for the long post - Now your feedback, teaching and comment as usual.
My first analysis as part of my learning the old thread. I know there will be errors as part of my learning curve.
Bigboss: Long term down trend - from 1997 onwards. Intermediate trend - upper trend with month august hitting 2.08. Immediate trend - upper trend - with price making Higher lows. From august 2017 onwards. My reading through the last 6 months, bigboys are pushing the price upwards.
Boss - Swings are better read on the boss chart. Hence I drew my fibs there. Price is being resisted by 38.2% fib resistance. Already it was the one that didn't allow the rice to move higher in April 2017. Fib with weekly control candle confluence. We can conclude the resistance is strong as you can go back in time and find that in 2009 this resistance held the price well. Till last week closing, WCC was the 5th candle (by not counting the on-going candle) and last week candle has become WCC since it closed at 1.7647 while the previous WCC high was 1.7639 in my charts.
Worker - AS part of the last major downtrend that ended in 9th August 2017, the last HH was on 3rd august 2017. For me to consider price is in an uptrend, this has to be broken. There were 3 opportunities in the past. 29th September, 25th October and 1st November. However, if has put a buystop above 25 pips beyond the high of these candles, orders wouldn't have been filled. Ideal entry is on 15th November 2017 (identified by an arrow), when the price is supported by Strat Shadow and price gets to an uptrend. Momentum is marked in blue lines. very good momentum for us to enter on 15th November. There is a similar entry on 12th January.
In the present scenario there is a WCC resistance and D1 resistance of 1.7851. I shall wait for a week and if the price gets into a new WCC beyond 1.78517, I can enter a trade with the right bullish PA and ride the trend. SL has to go around 1.7751 which is nearly 150 Pips, however the minimum expected rewards is around the next minor resistance around 300 pips - 1:2 - and further if I could ride it, the major resistance is around 1.9287. It will be not a 'fat city' . However a significant trade.
Sorry for the long post - Now your feedback, teaching and comment as usual.