Dragon or Snake - GU, UJ, GJ, EU, EJ | Page 90 | Forex Factory

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Attachments: Dragon or Snake - GU, UJ, GJ, EU, EJ
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Dragon or Snake - GU, UJ, GJ, EU, EJ

  • #1,781
  • Jul 18, 2018 1:27am Jul 18, 2018 1:27am
Scalping GJ on 5mins.
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  • #1,782
  • Edited 8:08am Jul 18, 2018 7:55am | Edited 8:08am
Quoting Elliot12345
Scalping GJ on 5mins. {image}


Me no setup yet on M5. Been bunch of scalps on M1. It's a doggy dog day for M1. The x on M5 means we could be on a new Wave 1 it's not an entry to go long. The targets there think of it as possible retracement areas.

There is one short on M5 pre London but I wasn't in front of computer yet.
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  • #1,783
  • Jul 18, 2018 8:20am Jul 18, 2018 8:20am
A stripped down version of my chart without including my personal indicator.

Put your own personal entry rule indicator here it might work for you.

Chart below on M1 means we could be retracing a bit for now. Just follow the trend if horizontal and the two moving averages are going same direction trend is confirmed etc etc etc.

Try you're own entry rule to work with this. Matrix, TDI, Babon Slope, Vodooo etc etc.
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Attached File(s)
File Type: tpl Maflip.tpl   7 KB | 266 downloads
File Type: mq4 NRTR_ATR_STOP.mq4   3 KB | 307 downloads
  • #1,784
  • Jul 18, 2018 12:41pm Jul 18, 2018 12:41pm
Quoting maflip
A stripped down version of my chart without including my personal indicator. Put your own personal entry rule indicator here it might work for you. Chart below on M1 means we could be retracing a bit for now. Just follow the trend if horizontal and the two moving averages are going same direction trend is confirmed etc etc etc. Try you're own entry rule to work with this. Matrix, TDI, Babon Slope, Vodooo etc etc. {file} {file} {image}
Nice move up after that chart. Anyway, M5 chart is at area of decision now and indi is now looking for an excuse to enter. However, it is now bed time for me. That candle that made the CPI Spike should have strong resistance. Else, it means there is no follow thru and goons might be reversing this back up. So keep a watch at it. It should keep things down if not we reverse up some more.
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  • #1,785
  • Jul 19, 2018 1:25am Jul 19, 2018 1:25am
Quoting maflip
{quote} Nice move up after that chart. Anyway, M5 chart is at area of decision now and indi is now looking for an excuse to enter. However, it is now bed time for me. That candle that made the CPI Spike should have strong resistance. Else, it means there is no follow thru and goons might be reversing this back up. So keep a watch at it. It should keep things down if not we reverse up some more. {image}
Above resistance been watching it all day today. They supported it like there is no tomorrow. They did not even let a single pip get above it. Hopefully I get a minimum of 30 pips from this trade.

Also, signal on the daily may have some more room to go down. Might even get to daily charts TP3.
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  • #1,786
  • Jul 19, 2018 1:39am Jul 19, 2018 1:39am
Hello traders. First time poster in here. EJ thread rarely gets any love so I thought I'd post my trade and analysis here.

I've been modelling price using fractal geometry.

Such a beautiful overall price structure right now.

I've been tracking EJ like a hawk all week. I picked up 50 pips from the "minor" H&S break over night and then set two new shorts on the rebound. Price did indeed rebound and both new shorts were back filled perfectly.

Now, the larger structure shows us the right shoulder of the "major" H&S pattern. As it stands, price is at a cross roads. The initial bounce penetrated just back up thru the bearish fractal wedge and now has settled down and is creeping along the wedge to an area that should contain some inertia.

Scenario 1) Price breaks up thru the magnetic axis (MA) and tries to get back into the bullish fractal wedge. Possible, but would take a lot of energy to break through and close consistently above the MA

Scenario 2) Price just ranges into late morning New York session. I don't think this is plausible. Imho, we are at an inertial reaction zone. I believe Frankfurt/London will pop price 30 pips either way to establish the next line of defense.

Scenario 3) Price will run down to 130.9 thereby completing the "major" H&S pattern. Then potentially retest the MA before another leg down to 130.5 with one last possible leg down to pattern completion @ 129.77

Our stance is scenario 3 and are positioned accordingly.

Here's the updated look. The price harmony is really quite beautiful (geek alert).

EJ HOURLY: (sorry if my chart is a little busy)
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Pride always comes before destruction.... -Proverbs 16:18
  • #1,787
  • Jul 19, 2018 1:47am Jul 19, 2018 1:47am
Quoting Expo33
Hello traders. First time poster in here. EJ thread rarely gets any love so I thought I'd post my trade and analysis here. I've been modelling price using fractal geometry. Such a beautiful overall price structure right now. I've been tracking EJ like a hawk all week. I picked up 50 pips from the "minor" H&S break over night and then set two new shorts on the rebound. Price did indeed rebound and both new shorts were back filled perfectly. Now, the larger structure shows us the right shoulder of the "major" H&S pattern. As it stands, price is at...
Oh hey welcome to this lonely thread. :-)
  • #1,788
  • Jul 19, 2018 2:24am Jul 19, 2018 2:24am
Quoting maflip
{quote} Oh hey welcome to this lonely thread. :-)
Thank you mate. Less lonely than the EJ thread
Pride always comes before destruction.... -Proverbs 16:18
  • #1,789
  • Jul 20, 2018 12:45am Jul 20, 2018 12:45am
EU in H4 Range O Rama after Wave 5 (Red Arrow)
But on M15 seems to have changed direction. Might try to take another shot up. (No signal to go long yet) Two bullish Head and shoulders pattern have formed.
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  • #1,790
  • Jul 20, 2018 12:49am Jul 20, 2018 12:49am
GU possible wave 5 as well M15(Red Arrow) But trend is still down. However, I don't like taking trend trades after wave 5. Best to take a break and wait for another bearish pattern. It's Friday taking a break trading.
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  • #1,791
  • Jul 22, 2018 11:29pm Jul 22, 2018 11:29pm
Bulls and bears fought for control creating a megaphone pattern M5 chart.

Possible scenario today.

Small pattern about 20 pips
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  • #1,792
  • Jul 23, 2018 8:08pm Jul 23, 2018 8:08pm
GU at area of decision. M30 is uptrend but H4 is still down trend.

Can go either direction from here. Hence the two up and down arrows.
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  • #1,793
  • Jul 23, 2018 8:11pm Jul 23, 2018 8:11pm
Missed the UJ short setup. Ugghhhh I just woke up lol. Should have been up 20 pips by now. But if UJ is going down. GU might go up. So still got a chance for a GU entry if buy stop is hit.
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  • #1,794
  • Jul 24, 2018 1:11am Jul 24, 2018 1:11am
Quoting maflip
GU at area of decision. M30 is uptrend but H4 is still down trend. Can go either direction from here. Hence the two up and down arrows. {image}
So far they haven't hit my pending buy stop. But if ever they decide on bringing this down. Can ask for probably 100 pips on this thing since H4 and Daily is still in a down trend.
  • #1,795
  • Jul 24, 2018 1:22am Jul 24, 2018 1:22am
Gonna give it a shot. This is late entry of the white arrow signal but it was filtered because it's still in support. Rolling with the H4 setup now but H4 setup is not yet hit. I think it's going to hit soon. Gunning for TP2 of H4 signal then maybe trail the rest...
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  • #1,796
  • Jul 24, 2018 2:31am Jul 24, 2018 2:31am
Quoting maflip
Gonna give it a shot. This is late entry of the white arrow signal but it was filtered because it's still in support. Rolling with the H4 setup now but H4 setup is not yet hit. I think it's going to hit soon. Gunning for TP2 of H4 signal then maybe trail the rest... {image} {image}
This one got stopped out. Fierce reversal at London Open.
  • #1,797
  • Jul 24, 2018 3:10am Jul 24, 2018 3:10am
Yup that zigzag action sucks ass. Not taking a reversal long on this one. Just gonna swallow the loss. Gonna wait till tomorrow what it brings. M30 and M15 might already be showing change of trend or range. No good to be taking a reversal long at the moment it might not last. Probably just scalping or M5 trading is a good idea. But M15 and M30 trades needs to be put on hold. Sucks how they hit all the way to TP3 of M15 chart and then reverse. I did not take the M15 setup because I was looking at M30.

Hey is it time to make my own trading journal? lol
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  • #1,798
  • Jul 24, 2018 10:52pm Jul 24, 2018 10:52pm
Bullish cup and handle testing resistance. I hate trading this breakout it gets faded a lot. It's so much fun getting stuck at the high of this then it gets faded down. So much fun it can give someone a heart attack. lol

If confirms to the upside better to take the retrace and follow thru. Gonna wait for London open to see what they do. If they fade the breakout I will be on a watch to short. H4 and Daily is still in a down trend.

Watching for possible repeat like what happened yesterday. Broke H4 support then fierce reversal at LO. Who knows due to that fake out yesterday this bullish pattern might work. But I still hate trading this pattern.
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  • #1,799
  • Jul 24, 2018 11:01pm Jul 24, 2018 11:01pm
EU still in range but with down ward pressure.

I'm currently filtered to the down side on EU at the moment. But let the market decide.

EU possible scenario.
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  • #1,800
  • Jul 25, 2018 1:33am Jul 25, 2018 1:33am
I hate this pattern but I took it anyway. Small risk only. TP/SL is in chart. If stopped out. Stop and reverse. This is that fade I am saying if stopped out. Hopefully I don't have to reverse.
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