Coreg's EW+HP+D/W Range

Quoting Coreg2004

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The target #1 was hit. {image}

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Quoting Coreg2004

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{quote} Updated chart after NY open. Note that GU already hit the DRE and brushed off the 2nd target for the WRE @1.3341. The downside can be limited for the remainder of the day. {image}

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Quoting Coreg2004

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{quote} Update...{image} Due to the slow day, a Friday bonus, a gold chart.{image}

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Quoting Coreg2004

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{quote} The break of the channel (above/below the TL) brings a new force to the market b/c traders add to existing positions or enter new trades. {image} Reverse for the down market, look to add on when the support line of the channel is broken. {image} The DXY chart is a good example to illustrate this play. {image}

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Quoting Coreg2004

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{quote} Here is the gold 1H chart. {image}

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Quoting M31

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You should publish these in a book ,remind me of engineering drawings & love looking at them

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Quoting Coreg2004

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{quote} M31, thanks. Just the pattern trading. There is already plenty of good stuff on the market, but "predicting" the potential cumulative behavior of all market participants keeps me engaged in the game.

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Quoting M31

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{quote} I've always been impressed with how consistent you are, lurking for nearly 3 years and personally it has helped me to learn from just these charts alone. What's DRE, daily something?

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Quoting Coreg2004

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{quote} M31, DRE stands for the daily range extension. Check the first page of my thread; there is an explanation of how I trade it. WRE (weekly range extension) {image}

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Quoting Coreg2004

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{quote} The same with gold. Standard limit: 100% daily ATR (14) - already done. Sure, it can go higher, so keep an eye on the resistance zone above the market-4008 level. The first support zone is between 3982 and 3974. {image}

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Quoting Coreg2004

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I encourage you to practice weekly range extension trading after the breakout to have a path for continuation of the thought process for the five days of trading, so you will know what to expect the next day. {image} {image}

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Quoting Abeylyn

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Good day Great Coach, Please, is there a way to nail the current running structure on GU with harmonic pattern. Pat describe the current move as AbC correction. I will appreciate your response. Thank you.

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Quoting Coreg2004

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Gold is going up and up. Retracements ABC are shallow after 1-5 patterns. I trade it as a daily range extension b/c nothing else makes sense to me. {image}

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Quoting Coreg2004

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{quote} Abeylyn, there is always a harmonic pattern in play on any TF. Look first for the anchor leg XA, 2 retracements B and C, and move to the D point. Retracement of the B will determine what pattern to expect. In our case, 50% ret. telling you to expect a bullish bat or crab pattern. Check the first page of my thread. {image}

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