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Coreg's EW+HP+D/W Range

  • #101
  • May 16, 2024 9:38am May 16, 2024 9:38am
Quoting birdland
i found this parallel lines interesting: {image}
birdland, thanks, I love channels, and TLs b/c it's very visual. I know immediately if I'm on the right side of the market. The channel is good for the target and reversal trade. That's how I use it.
Always trade your own plan...I don't provide trading signals.
  • #102
  • May 16, 2024 10:01am May 16, 2024 10:01am
Quoting birdland
i found this parallel lines interesting: {image}
I have been trading since a long long time with Parallel extensions. They are highly effective but sometimes...not always. Aka as a confluence of some sort for both, TP, SL, 2x and 4x Channels.
A trader is as good as his stop loss. Understand your mistakes.
  • #103
  • May 16, 2024 3:31pm May 16, 2024 3:31pm
EOD...
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The plan for trading based on EW can be found in this link...https://forex-indicators.net/cycle-i...ott-waves/plan
Always trade your own plan...I don't provide trading signals.
  • #104
  • May 16, 2024 9:00pm May 16, 2024 9:00pm
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Always trade your own plan...I don't provide trading signals.
  • #105
  • May 17, 2024 2:56am May 17, 2024 2:56am
Quoting Coreg2004
EOD...{image} {image} The plan for trading based on EW can be found in this link...https://forex-indicators.net/cycle-i...ott-waves/plan
i am confused...isnt the W3 or 1.618 level around 1.2645?
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trading is like dancing, don't think and just listen to the music!
  • #106
  • May 17, 2024 3:56am May 17, 2024 3:56am
Quoting birdland
{quote} i am confused...isnt the W3 or 1.618 level around 1.2645? {image}
Good question, and the reason i stop count
  • #107
  • May 17, 2024 4:00am May 17, 2024 4:00am
Quoting Whale
{quote} Good question, and the reason i stop count
so elliot wave theorie is not for you because there is too much room for interpretation and discretionary decision?
trading is like dancing, don't think and just listen to the music!
  • #108
  • May 17, 2024 4:08am May 17, 2024 4:08am
Quoting birdland
{quote} so elliot wave theorie is not for you because there is too much room for interpretation and discretionary decision?
Trading is interpretation and discretionary decision

i think Elliot wave is a good guideline, not a trading strategy

but its my opinion only.
  • #109
  • May 17, 2024 4:15am May 17, 2024 4:15am
Quoting Whale
{quote} Trading is interpretation and discretionary decision i think Elliot wave is a good guideline, not a trading strategy but its my opinion only.
yes thats also my view on this so far.
trading is like dancing, don't think and just listen to the music!
  • #110
  • May 17, 2024 7:16am May 17, 2024 7:16am
Quoting birdland
{quote} i am confused...isnt the W3 or 1.618 level around 1.2645? {image}
birdland, I use the guidelines to set the end of any swing. Labeling is not important for me but relations between the swings.
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Also, you can set your Area of Interest (AOI) using these guidelines. It gives you one additional level to reinforce your AOI.
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I believe you marked the Expansion swing on your chart (magenta dash arrow) I hope it helps.
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Always trade your own plan...I don't provide trading signals.
  • #111
  • May 17, 2024 7:39am May 17, 2024 7:39am
Quoting Coreg2004
{quote} birdland, I use the guidelines to set the end of any swing. Labeling is not important for me but relations between the swings. {image} {image} Also, you can set your Area of Interest (AOI) using these guidelines. It gives you one additional level to reinforce your AOI.{image} I believe you marked the Expansion swing on your chart (magenta dash arrow) I hope it helps.{image}
yes, now its clear, thank you. i marked the 1.618 expansion swing of AB=CD

but what is not clear to me is what is your 1.618 (1.27056) level, the green dotted line?
trading is like dancing, don't think and just listen to the music!
  • #112
  • Edited 8:34am May 17, 2024 8:03am | Edited 8:34am
Quoting birdland
{quote} yes, now its clear, thank you. i marked the 1.618 expansion swing of AB=CD but what is not clear to me is what is your 1.618 (1.27056) level, the green dotted line?
birdland, to find your AOI (forget about EW for a moment) you can use 4 relationships between the swings as the third picture in my prior post indicates. These 4 levels form the so-called cluster. When the price gets there you look for any indication of momentum change to go counter-trend.
ADDED. the length of wave (a) multiplied by 1.618 and projected from (b) gives you the potential end of wave (c) @1.27056-green arrow.
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Attached File(s)
File Type: pdf Elliott Wave Theory Guidelines.pdf   147 KB | 260 downloads
File Type: pdf Harmonic Trader.pdf   3.0 MB | 328 downloads
Always trade your own plan...I don't provide trading signals.
  • #113
  • May 17, 2024 11:07am May 17, 2024 11:07am
Don't rush with the counter-trend trade. Wait for the exhaustion level(pattern).
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #114
  • Edited 12:51pm May 17, 2024 12:02pm | Edited 12:51pm
As a day trader, I use every day the same inflection points (YH, YL, YCL, NY open) to help me with the direction of the market for the NY session. If you mastered how to trade a single horizontal line it would be enough to trade comfortably. Check the chart below and practice after-hours on the prior days' charts. Look at the chart below and ask yourself where to enter a short trade atm, and what objective you have at the end of the day.
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #115
  • May 17, 2024 12:09pm May 17, 2024 12:09pm
Quoting Coreg2004
Don't rush with the counter-trend trade. Wait for the exhaustion level(pattern). {image}
They took the high made on April 9th and 10th.
Not sign of bears atm. Good intraday opportunities to long on smaller tf.
Maybe they want AB=CD on Daily with target around 1.2780 (???)
Have a nice weekend
  • #116
  • Edited 12:37pm May 17, 2024 12:17pm | Edited 12:37pm
Quoting Vincent1
{quote} They took the high made on April 9th and 10th. Not sign of bears atm. Good intraday opportunities to long on smaller tf. Maybe they want AB=CD on Daily with target around 1.2780 (???) Have a nice weekend
Vincent, not yet. On my broker's chart, the high on this day is 1.27095. You can see in my chart (I watch the same swing). If the market closes on the daily TF above this level we can suspect that the low @1.2298 is in place (The Dow Theory) for the time being.
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Always trade your own plan...I don't provide trading signals.
  • #117
  • Edited May 20, 2024 8:46am May 19, 2024 5:38pm | Edited May 20, 2024 8:46am
Targeting 1.2736- the end of the bearish crab pattern- if one of the zones (shallow, regular) for wave (iv) holds.
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So far, GU has a problem taking out YCL @1.2701
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Always trade your own plan...I don't provide trading signals.
  • #118
  • May 20, 2024 9:10am May 20, 2024 9:10am
I guess there is no smooth ride today, up or down.
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Always trade your own plan...I don't provide trading signals.
  • #119
  • May 20, 2024 9:20am May 20, 2024 9:20am
Quoting Coreg2004
I guess there is no smooth ride today, up or down. {image}
typical monday...
trading is like dancing, don't think and just listen to the music!
  • #120
  • May 20, 2024 12:24pm May 20, 2024 12:24pm
If you hold for the higher target (Ext. wave 5) tighten your trailing stop b/c standard target zone was hit on the 30M TF.
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
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