DislikedWell at least, am getting an asc. channel. with tentative TLs.
Price is not quite breaking that LTL...Ignored
Just a tentative scenario.
Measure twice, cut once
Drawing Correct Trendlines 58 replies
Drawing Gann Grid in mt4, the correct way 3 replies
Drawing correct S/R and pivot 8 replies
Drawing Objects vs Drawing lines 1 reply
Drawing support and resistance lines 4 replies
DislikedWell at least, am getting an asc. channel. with tentative TLs.
Price is not quite breaking that LTL...Ignored
DislikedI am observing a bearish formation on EU.
Not sure if it's a triangle or a channel. Looks like a bearish triangle.Ignored
DislikedI don't have any clear pattern yet. If we break LH I'll add a parallel TL (same angle as lower) and we will find ourself in a upward channel.
Just a tentative scenario.Ignored
DislikedI believe we could be across a very good example of the Elliot Wave Theory in practice.
I got 3 waves with the 12345 pattern. 1,3,5 being the waves and 2,4 being retracements.
Now we could be experimenting the abc retracement.
Very interesting.
For those of you unfamiliar with the Elliot Wave Theory, here you go:
http://www.babypips.com/school/the_5..._patterns.html
and
www.elliottwave.com
Hope this makes sense. Looks to me a theory taken to practical.Ignored
DislikedIt's always good to learn new things but please stay skeptical on ew theory, buddy. Very very few make any success here. If you're interested, I know only 1 ew'er which make any constant profit (so it seems from he's forum). He's name is fxsurfer. Goggle him and you'll find him over @ fxsurfers forum.
If you want to dig into something profitable, try AB=CD patterns so-called harmonic patterns. I still use them from time to time.Ignored
DislikedI don't actually trade ew. It's just very interesting to see some theories we have read about coming to a "probable" reality.
I find very, very intresting. I focus on pattens but it's also lovely to have applications of stuff like this.
It looks "beautiful" to see these waves.
Also, it's so interesting to see that many people don't have the "ability" to see these waves.
Later mate.Ignored
DislikedThis is the last respond to ew in this thread from me; the thing with counting is, in hindsight, everything looks so obvious. If one count fails, you suddenly got 3-5 other setups to apply. There is absolutely no analyze method known to man-kind that can include every move the marked does. Ew "does". I strongly recommend to read Marber On Markets, some who have done technical anaylze for 50 years, including price-patterns, candlestick and so on. He also have a thing or two to say about elliot wavers as he calls them.
Btw, Elliot didn't make a penny from he's own work. The creater of it.
If you're really into it, make sure you learn it from someone who trades it profitable.Ignored
DislikedWhat is the best way to identify Horizontal Support and Resistance?Ignored
DislikedWell SL Was in Past just -40 Pip's & target for just +30-Pip's but now a days i have changed my strategy ...
My SL is -70 Pip's fixed & Target is +30 ---to---+60 Pip's depends on certain condition's.
visit post No# 2236 of this thread in this same page...with three posted screenshot's.
Also Visit this Post No # 561 of this thread...
http://www.forexfactory.com/showthre...42#post1896842
GoodLuck!!!Ignored
DislikedHi i,ll respond your all questions with screenshots after 15/20 Minutes wait thank'sIgnored
Dislikedhi Umairs,got a few q.s for you on this post(yours) the candle which breaks the trend line is at best indecisive no?looks like a spinning top or mabye even an eve star??obviously you saw something as it was a good trade but isnt this against your method?(only a question not an attack of any kind )
also do you ever consider early entries from the opposite trendline on bullish candles,e.g.the lower tl is on nice sup. and you get a nice pin bar,would you go long in anticipation of a break?
you have got me v interested in 30 min charts,they look good for these types of patterns.iv always used 1h with 15 mins (also 4h for trendline r/s pivots etc).what are your thought on these time frames??would like to here about the different tfs people play if anybody wants to post!??
finally,i have been experimenting recently using stoch and rsi divergence for a filter for entries.i have had good initial results ,do you ever use this method or have any experience with this.my only thoughts are that you miss a lot of trades.
thanx for your time,
jon.Ignored
Dislikedhi Umair,
you have got me v interested in 30 min charts,they look good for these types of patterns.iv always used 1h with 15 mins (also 4h for trendline r/s pivots etc).what are your thought on these time frames??would like to here about the different tfs people play if anybody wants to post!??
finally,i have been experimenting recently using stoch and rsi divergence for a filter for entries.i have had good initial results ,do you ever use this method or have any experience with this.my only thoughts are that you miss a lot of trades.
thanx for your time,
jon.Ignored
Dislikedhi Umairs.this is quite a big sl,have you found this size necessary to stay in??you must have a good w?l ratio,could you post it?
i have also an initial target of 30 pips and if i think its going my way i then change sl to be and go for +50.in my experience(i only demo trade at the mo)a good clear pattern break will give you +50 more often then not,especially if they break on news!!but i have also found that -30 is enough for most pairs as the price tends to break with momentum and the initial move added to you sl will give you plenty or room??
p.s. sos for all the q.s im just catching up http://www.forexfactory.com/images/icons/icon14.gifIgnored