DislikedBTC 1 min. Fair to assume? The whole point of making channels is to try to contain the next sinewave of price action in that channel, is that correct? {image}Ignored
But you need to always have in mind that Channels have to be broken
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Analysis and Trading based on Envelopes, Waves, Cycles
{quote} yes it is correct . But you need to always have in mind that Channels have to be broken
Because the center of the new sinewave (our prospective focal point) could change and be for example higher than current extension.
Like this one, slightly changed to the upside:
When there's a will, there's a way.
Looks like more continuation as the bigger channel has been updated now and the middle line of the smaller channel still providing support.
With CMAs merging like this and pointing up, I think it's best to buy the dips and go with the trend or just wait until the middle line breaks and we go short?
I'm trying to learn to build and trade using these channels and visualizing the price action sinewave patterns, since they make sense to me.
EDIT: Decided on a long position to get me involved and train.
With CMAs merging like this and pointing up, I think it's best to buy the dips and go with the trend or just wait until the middle line breaks and we go short?
I'm trying to learn to build and trade using these channels and visualizing the price action sinewave patterns, since they make sense to me.
EDIT: Decided on a long position to get me involved and train.
When there's a will, there's a way.
{quote} So do you always wait for the red cma to turn to enter a trade? Thanks for all your posts!
I'm sure parisboy would answer this way better than me.
Red CMA is basically the "pathfinder", as I've read in some of parisboy's old posts. You wouldn't want to enter a trade in its opposite direction. Unless you're scalping for a couple minutes. But if you want a good move, it's better to wait for the turn.
What I usually do is wait for its turn and then a retrace/pullback to the reversal area and then enter the trade. It's safer this way and you wouldn't feel nervous thinking you got in before there even was a signal. Your mind would be at ease so to say. The least it does, confirms your trade idea whether you get stopped or go into profit.
(Keep in mind I'm still in learning process here lol)
When there's a will, there's a way.
- #7,573
- Mar 3, 2022 3:22am Mar 3, 2022 3:22am
- Joined Oct 2020 | Status: Trader | 1,707 Posts
Us30 1min....short battleplan 
- #7,576
- Edited 10:09am Mar 3, 2022 9:59am | Edited 10:09am
You just follow the train as parisboy says : ))
With lower level of 256 Envelope reached, we get out since it could bounce back up.
I'm just in my learning journey in this thread and its methodologies. But I strongly encourage new traders here to first try and experiment with envelopes before you move on to other stuff. There's a reason this thread starts with envelopes.
With lower level of 256 Envelope reached, we get out since it could bounce back up.
I'm just in my learning journey in this thread and its methodologies. But I strongly encourage new traders here to first try and experiment with envelopes before you move on to other stuff. There's a reason this thread starts with envelopes.
When there's a will, there's a way.
- #7,578
- Mar 3, 2022 11:24am Mar 3, 2022 11:24am
{quote} With strong trend sometimes the envelopes don't give a bounce So be careful in such scenarios. In ranging markets they are very good
When there's a will, there's a way.
- #7,580
- Mar 3, 2022 11:37am Mar 3, 2022 11:37am
{quote} I'm on my phone and don't have access to Pc. Can you please post daily and H4 for EURUSD? I see it overstretched. Just curious to know where we are in relation to envelopes Thanks
DAILY
When there's a will, there's a way.