Disliked{quote} Phil, Thanks for your analysis and showing the way it is done. I was rigid in my thinking when I saw that H1 low, I was waiting for a lower low before I could be a seller (Change in trend (L & LL). In the chart below, I saw the correction as abc. What is wrong with the way it is marked? Regards, Sutiv {image}Ignored
answer = nothing wrong but maybe something or everything????? let me explain from my perspective....
in my view I think you are using the daily analysis and trying to fit it to a lower frame, I find different things work better on different time frames and at different times/market conditions, for me I would not mix time frame analysis (the old way of trading was by hand drawn charts of the daily action and everything we now do stems from that), I use the areas from the time frames above that are marked only to see what they could mean in significance via P/A, confluences ect... in H1 I use EW, FIBS and the trapped traders areas mainly and some DOW is marked but not used as anything but to see confluences with other tools I use, with EW I tend to try to simplify it by using only the 1-5 (a-f) count, actually when trading I just mark the legs as 1.2.3ect to simplify it further (which you can see in my past trades), the run up you have marked as a.b.c in H1 is much bigger than the last down move in H1, the way I see a,b.c is only in the retraces between the waves/legs/pushes or whatever you want to call them, as I said for me it is more about knowing the meaning of the moves and P/A rather than the various labels people impose on them, as you saw in D1 I can use one bar (in the correct area of interest) to give me a heads up to drop down for a trade, you can also see on the daily that there is one 'retrace' that I could not see an a.b.c move in and instead of 'trying to make it fit' I just accepted it was a 'messy' move, not everything conforms to what we humans like to impose on things in this world to help make them fit in our little boxes that we make up in our heads to explain everything, this is why changing and controlling (so far as we can) our mindset is a must, all that packaging and boxing in of things into neat little bundles for our own peace of mind of understanding this world does not work in trying to take a market read and as it turns out for me anyway a lot of other things in life, we have to accept things can and will do what they want, when they want and how they want, we have no control is the reality, that is why fixing others people ideas and labels to things does not work, look at the things/beliefs about all sorts that has changed just in our own little time we have had in this world, as fti said the market is a live beast and will do what it wants (it does not care about our labels and beliefs), sure as with everything we humans do we can curve fit things into the past (and we are good at that), but what good is that to us, for we can only experience the now, and the now is always changing and always will, the bottom line about that chart and your question on the move is did it lead you to the same conclusion as me (only as 'past time' has now proven me to have been correct about hitting the top), if it has then great, that is working for you and do not try to fix what is not broken, I just do my own thing that seems to work for me, and that is all you need to find for yourself, take bits from others and their ideas to make your own personal way of being able to guestimate in the now what may be about to happen and enjoy the ride with the ongoing constant learning of the abundant amount of new things you will discover on this journey we are all on trying to do our own thing.
Phil.
-be careful about what you allow to be put in your mind-
