Coreg's EW+HP+D/W Range

Quoting Coreg2004

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{quote} Fardeen, I always go with the first possible pattern. In this case, I would choose an ending diagonal if the prior high is taken out. {image}

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Quoting Fardeen1209

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{quote} Slowly your outlook is being realised. I still waiting for price to close below flip zone (RSF) , we will get a swing failure pattern on 4hr structure (with daily structure remains intact), a traditional starting point for correction in indices. Probability for next week candle to be a red increases, as weekly candle take the form of tweezer top. FOMC will deliver the bomb, may be something odd about the new eco projection. Higher U.R, less bank rate Cut, higher inf rate for 2025. Looking forward for a dovish disappointment for the FOMC....

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Quoting Coreg2004

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{quote} and this will conclude live play-by-play in setting the gold trade. {image}

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Quoting Coreg2004

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{quote} Adjustment to the gold... {image}

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Quoting Coreg2004

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The first zone to hold advance to the upside is between 1.2672 and 1.2688 {image}

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Quoting Olu

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{quote} Elliott wave theory is not a bad thing. I do use EW when there is the clearest of signals and like any methodology has worked for me more often than not. I don't deal with the WXY things but any other clear count like 12345 or abc after a 12345 works like a charm. When we start to go into the wxy or wxywz I log out because this usually means ranging.

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Quoting Olu

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{quote} EW is mathematical I agree. It is also psychological as well. The creators of EW have observed that human psychology for example can present in the 5 waves motive structure etc. Everyone using moving averages as support, resistance and trend are using maths as well imho

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Quoting Coreg2004

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{quote} Olu, very healthy approach to trade EW concept. Same here. I leave double and triple threes corrections to academia to mark. We are traders. I will mark it as a range and trade as such. {image} {quote} Olu, agree again. Fibonacci ratios (0.618, 1.618, 2.618) are psychological levels derived from mathematical formulas as PP (S2,R2), ATR (100-150%) dailyATR(14) are, which help as to find so-called exhaustion points. All these levels are used by traders to take the profit, enter counter-trend trade, or throw the towel when they are wrong.{image}...

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Quoting Coreg2004

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{quote} Olu, very healthy approach to trade EW concept. Same here. I leave double and triple threes corrections to academia to mark. We are traders. I will mark it as a range and trade as such. {image} {quote} Olu, agree again. Fibonacci ratios (0.618, 1.618, 2.618) are psychological levels derived from mathematical formulas as PP (S2,R2), ATR (100-150%) dailyATR(14) are, which help as to find so-called exhaustion points. All these levels are used by traders to take the profit, enter counter-trend trade, or throw the towel when they are wrong.{image}...

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Quoting Coreg2004

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{quote} Update...Hold 'em or fold 'em{image} {image} {image}

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Quoting Coreg2004

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{quote} The last possible level of 2646 for this labeling hit on Friday. {image}

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Quoting Coreg2004

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{quote} For the 3rd day, gold cannot breach even the first resistance zone. I adjusted the pattern. {image}

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Quoting Whale

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{quote} 1h away from 2664

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Quoting Whale

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Big mistake..

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Quoting Coreg2004

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{quote} with what?

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Quoting Whale

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{quote} my gold view

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Quoting Coreg2004

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{quote} Whale, try to stick to HH-HL, and LH-LL at least on 15M TF. If the pattern doesn't flip forget about going with counter-trend trade. Sure, you will be "late" with entry b/c you don't catch the top or bottom but on the other hand, you avoid sitting on the DD or having a quick loss.

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