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Coreg's EW+HP+D/W Range

  • #381
  • Edited 8:10am Jul 22, 2024 7:59am | Edited 8:10am
Quoting rehmatkhan00
Let's see if it unfolds as I am expecting. {image}
...
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.22 30M.png Size: 44 KB

I change to a 30M chart. If 161.8% is exceeded, wave 3 is in the making. From the guidelines, I posted on the first page.
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Always trade your own plan...I don't provide trading signals.
  • #382
  • Jul 22, 2024 8:29am Jul 22, 2024 8:29am
similar setup on the GU chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 07.22 30M.png Size: 42 KB
Always trade your own plan...I don't provide trading signals.
  • #383
  • Jul 22, 2024 8:43am Jul 22, 2024 8:43am
Quoting Coreg2004
{quote} ... {image} I change to a 30M chart. If 161.8% is exceeded, wave 3 is in the making. From the guidelines, I posted on the first page.{image}
As long as the price stays above 1.0870 where is the starting point of previous swing low, it should be considered a deeper correction according to EW however if it makes another lower low which ends well below 1.0870 then the price maybe doing either deeper correction or heading toward a reversal.
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  • #384
  • Jul 22, 2024 8:47am Jul 22, 2024 8:47am
Quoting rehmatkhan00
Let's see if it unfolds as I am expecting. {image}
we need one move up to finish the daily chart's potential 1-5 pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.22 D.png Size: 38 KB
Always trade your own plan...I don't provide trading signals.
  • #385
  • Jul 22, 2024 8:56am Jul 22, 2024 8:56am
Quoting Coreg2004
{quote} we need one move up to finish the daily chart's potential 1-5 pattern. {image}
yup and that’s why I am little bit confused about it.
  • #386
  • Jul 22, 2024 9:58am Jul 22, 2024 9:58am
EU can make harmonic 5-0 pattern which is a bullish reversal pattern if it unfolds then it can shoot to 1.0948 and bounce back for some correction and again resume to make higher high.
Attached Image (click to enlarge)
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  • #387
  • Edited 11:32am Jul 22, 2024 10:50am | Edited 11:32am
Quoting rehmatkhan00
{quote} yup and that’s why I am little bit confused about it.
Stick to your trading TF and keep in mind levels from the higher TF.
What is the most probable current pattern if @1.0890 is taken out? Tomorrow is another day.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.22 1Hb.png Size: 52 KB

Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #388
  • Jul 22, 2024 10:57am Jul 22, 2024 10:57am
Quoting Coreg2004
{quote} Stick to your trading TF and keep in mind levels from the higher TF.
yup and now I am trading only one pair and most of the time follow 1hr timeframe.
  • #389
  • Jul 22, 2024 12:56pm Jul 22, 2024 12:56pm
Quoting Coreg2004
{quote} Stick to your trading TF and keep in mind levels from the higher TF. What is the most probable current pattern if @1.0890 is taken out? Tomorrow is another day. {image} {image}
if this is expanded flat pattern, the price should go well above start of leg A which kinda resembles Bearish Sharq Pattern.
  • #390
  • Jul 22, 2024 1:44pm Jul 22, 2024 1:44pm
Quoting rehmatkhan00
{quote} if this is expanded flat pattern, the price should go well above start of leg A which kinda resembles Bearish Sharq Pattern.
if this is a flat correction look for 5 fractals in (b)-(c) leg. All depends on the interpretation of the lows in cyan rectangular.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.22 15M.png Size: 45 KB
Always trade your own plan...I don't provide trading signals.
  • #391
  • Jul 23, 2024 7:37am Jul 23, 2024 7:37am
1.0840 is in play.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.23 1H.png Size: 48 KB
Always trade your own plan...I don't provide trading signals.
  • #392
  • Jul 23, 2024 9:10am Jul 23, 2024 9:10am
Quoting Coreg2004
1.0840 is in play. {image}
I think it was just a first leg of bigger ABC correction
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  • #393
  • Jul 23, 2024 10:53am Jul 23, 2024 10:53am
Quoting Coreg2004
1.0840 is in play. {image}
If it makes Bullish Hammer on 4hr chart then it may end correction phase of EU and we may be at the very of another impulse wave or as I said before it maybe just a completion of wave A of bigger ABC correction.
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  • #394
  • Jul 23, 2024 12:11pm Jul 23, 2024 12:11pm
Quoting rehmatkhan00
{quote} If it makes Bullish Hammer on 4hr chart then it may end correction phase of EU and we may be at the very of another impulse wave or as I said before it maybe just a completion of wave A of bigger ABC correction. {image}
B-C leg has to have 5 fractals. On my chart below 2 zones (shallow, reg.) are marked for potential wave 4. I use 30M and the daily chart for my analysis b/c it's all about the TF we trade. Higher TF shows different swings so labeling can be distinct. I focus on the imminent swing. I'm not in EU trade as of right now.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.23 1Hb.png Size: 29 KB
Always trade your own plan...I don't provide trading signals.
  • #395
  • Jul 23, 2024 12:23pm Jul 23, 2024 12:23pm
Quoting Coreg2004
{quote} B-C leg has to have 5 fractals. On my chart below 2 zones (shallow, reg.) are marked for potential wave 4. I use 30M and the daily chart for my analysis b/c it's all about the TF we trade. Higher TF shows different swings so labeling can be distinct. I focus on the imminent swing. I'm not in EU trade as of right now. {image}
this last and fifth wave is bothering me otherwise we have a perfect reversal pattern on 4hr timeframe
  • #396
  • Jul 24, 2024 7:24am Jul 24, 2024 7:24am
If a 1-5 move is in place, the standard target is @1.0864
Attached Image (click to enlarge)
Click to Enlarge Name: GU 07.24 30M.png Size: 41 KB
Always trade your own plan...I don't provide trading signals.
  • #397
  • Jul 24, 2024 9:49am Jul 24, 2024 9:49am
Quoting Coreg2004
If a 1-5 move is in place, the standard target is @1.0864 {image}
It looks like the ABC has been completed and now I am waiting for a bullish reversal so I can go long.
  • #398
  • Edited 10:39am Jul 24, 2024 9:50am | Edited 10:39am
Quoting Coreg2004
{quote} A possible end of wave 5 in S&P 500 futures was reached. If it's true the test of 5500 level will follow. {image}
Quoting Coreg2004
{quote} Discretionary trading, you make the decision and live with it. Don't look back. {image} {image}
update...
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Always trade your own plan...I don't provide trading signals.
  • #399
  • Jul 25, 2024 2:27pm Jul 25, 2024 2:27pm
EU 5M chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU 07.25 5M.png Size: 33 KB
Always trade your own plan...I don't provide trading signals.
  • #400
  • Jul 26, 2024 6:36am Jul 26, 2024 6:36am
We might be having another bearish impulse wave after completion of ABC correction
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