Both EU and GU have the look of working at a setup to go long. However, due to the drop yesterday, any ride up may be just a retrace before another leg down. As long as PA remains below 89ema, I would think this remains bearish.
DislikedRegarding pivots.....the PivotsDWM indy in post #3349 I gave to Basber prior. It is of the same cloth as the PivotsMonthly and PivotsWeekly indicators I currently use on my charts. I combined the M, W, and Day formulas into one indy that allows user to select which of those three pivot groups to select. I have all three combined into that one indy, and I have all three in separate indys so that I can display all three simultaneously. I have thought about bringing PivotsMWD up to date and modifying it so that any combination of all three could be...Ignored
Early entry - short on pull back – CCI turn red. Wave 1 is 88 pips, retracement is 50% ie 44pips. 1st target is the last swing low 22 pips, 2nd target is 50% of Wave1 44pips, 3rd target is 88 pips. SL is last swing high 44 pips.
Took 1st target +28 pips, SL moved to +2pips, Target moved to +88 pips.
DislikedIf anyone sees a future post of mine with any other templates or indicators than these, Please hit me with a large brick on the back of the neck.Ignored
DislikedI guess it was a fundamental problem not so much technical,
JPY is exptected to be strenghtening for a while, and it recently broke a few important support levels, so there is a strong push down in this pair.
I am short biased in this pair
And ofcourse, as traderathome mentioned, 89 ma is important.
Just count it as business expense and keep going
By the way guys, can some people here explain how they interpret NVO and how they trade using it (entry, exit) ?Ignored
DislikedThx, Domas and All for sharing your thoughts.
TAH, could you plz explain more about 89 EMA? I've seen lots of set-ups where it is not taken into the consideration. So the question is when do we have to take in consideration the 89 EMA when trading Sonic R set-ups?
Consider the example in the attachment of GBPUSD for 17 Aug - there was a perfect Sonic entry, however price didn't even come close to the 89 EMA.
How are my today's UJ set-up and the GU set-up in the pic are different from the technical analysis point of view?Ignored