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Backing Trades Thru Charts

  • #121
  • Mar 7, 2010 12:07am Mar 7, 2010 12:07am
Quoting knuckledrag
I didn't know you started a thread. I'll go back and read.

congrats on the new thread
I would like to see you posting as well.

Hope I'll see you around.
  • #122
  • Mar 7, 2010 9:08am Mar 7, 2010 9:08am
Quoting TheLastCoke
I would like to see you posting as well.

Hope I'll see you around.

I've used fibs and support levels for years. I'm not sure I'd trust harmonic patterns, but you seem to do fine with them. I'll take a closer look.

Are there any MT4 indicators for these patterns?
  • #123
  • Mar 7, 2010 10:58am Mar 7, 2010 10:58am
Its a little bit too much if I want to put it in few sentences,

but overall his method of analysis has introduced few more structures on top of traditional elliot wave structures. His method of analysis focuses more on behaviour than anything else. So there is a associated behaviour with every structure. If traditional elliot wave was hard to understand, his method is harder because of behavioural associations that you have to make between similar structures. Overall I have spent quite a bit of time learning his stuff from reading his book "Mastering Elliot Waves" and trying to apply it to the market, it helps a lot but its not he holy grail of analysis.





Quoting TheLastCoke
Thanks for your input. Mate I will appreciate if you elaborate some more about Glenn Neely Neowave theory.
  • #124
  • Mar 7, 2010 12:44pm Mar 7, 2010 12:44pm
Quoting knuckledrag
I've used fibs and support levels for years. I'm not sure I'd trust harmonic patterns, but you seem to do fine with them. I'll take a closer look.

Are there any MT4 indicators for these patterns?
This one seems to be very helpful in finding future patterns, the problem is the wide range it uses as entries. For each particular pattern I'd recomend to enter at the default theory levels only. Allow DDL imports.

You might not trust harmonics but give them a try I am sure they will sometimes work in confluece with your fibos and TL's.

Let me know what you think.
Attached File(s)
File Type: mq4 ZUP_v82.mq4   360 KB | 366 downloads
  • #125
  • Mar 7, 2010 12:46pm Mar 7, 2010 12:46pm
Quoting shahab8b
I have the pdf of the book- in case you are interested
Body I will apreciate if you can re-send the pdf file, couldn't find it.

Thanks.
  • #126
  • Mar 7, 2010 7:35pm Mar 7, 2010 7:35pm
E/Y. I feel tempted.
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  • #127
  • Mar 7, 2010 8:07pm Mar 7, 2010 8:07pm
Quoting TheLastCoke
E/Y. I feel tempted.
I know what you mean Gabo! look:

PB or Bearish Doji Star on Sushi 4h TF = Sellers [At least for a good pullback in Yen pairs]

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #128
  • Mar 8, 2010 11:01am Mar 8, 2010 11:01am
History tells me this triangle could be the end of this consolidation period. On last 2 previous occasions this consolidation lasted for 15 day+-. (See chart at post). I am paying close attention to yellow levels and blue equidistant channel. I'll be somewhat agressive on this one and I'll star building positions at the touch of TL not at break.

Quoting TheLastCoke
Another E/U critical reversal point. If rectangle breaks to the upside 38.2 major fibo could be the turning point.
Quoting TheLastCoke
Last 2 rectangles have lasted around 90+- periods before the break to the upside, on this one we have only 60+-periods so far.
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  • #129
  • Mar 8, 2010 11:15am Mar 8, 2010 11:15am
just another point of view
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  • #130
  • Mar 8, 2010 11:19am Mar 8, 2010 11:19am
Quoting shahab8b
just another point of view
So, base on your chart it could also form a cup pattern. If that is the case pay close attention to the handle break.
  • #131
  • Mar 8, 2010 11:22am Mar 8, 2010 11:22am
Quoting TheLastCoke
So, base on your chart it could also form a cup pattern. If that is the case pay close attention to the handle break.

hi,
as far as I remember CUP w Handle pattern presents itself in an uptrend market, may be I'm wrong , let me know if that's the case
but the descending scallop does mean it will break lower for sure, if a failure happens it will break higher, just for probability consideration , I'll treat it as a short opportunity till it proves otherwise

besides I look at weekly candles in E/U and they resemble of pattern that we saw at G/U (monthly) back in 2008 before the big fall, take look at them
  • #132
  • Mar 8, 2010 11:27am Mar 8, 2010 11:27am
Quoting shahab8b
hi,
as far as I remember CUP w Handle pattern presents itself in an uptrend market, may be I'm wrong , let me know if that's the case
Cup is a pattern by itself. It is a bullish pattern but not necessarily formed in an uptrend. Remember that the handle should be build in low volume trading range.
  • #133
  • Mar 8, 2010 11:30am Mar 8, 2010 11:30am
Quoting TheLastCoke
Cup is a pattern by itself. It is a bullish pattern but not necessarily formed in an uptrend. Remember that the handle should be build in low volume trading range.
ok, I'll watch that carefully
  • #134
  • Mar 8, 2010 11:34am Mar 8, 2010 11:34am
Quoting shahab8b
hi,
as far as I remember CUP w Handle pattern presents itself in an uptrend market, may be I'm wrong , let me know if that's the case
but the descending scallop does mean it will break lower for sure, if a failure happens it will break higher, just for probability consideration , I'll treat it as a short opportunity till it proves otherwise

besides I look at weekly candles in E/U and they resemble of pattern that we saw at G/U (monthly) back in 2008 before the big fall, take look at them
I kind of agree with you. My target so far is the 38.2 Fib retracement (see post #4 ), from that point I will be open to any possibilities.
  • #135
  • Mar 8, 2010 11:55am Mar 8, 2010 11:55am
Quoting maurofx
I don't know if it's gonna happen soon, but there will be a huge fight to break the range in either side. I've been following your posts of the consolidation ranges, very good analysis.
Tell me what you think about this

http://www.forexfactory.com/showthre...87#post3531187

Mauro this is a perfect Bearish Bat formed to the pip. Check this post also #345.

GL.
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  • #136
  • Edited Mar 9, 2010 8:27am Mar 8, 2010 7:32pm | Edited Mar 9, 2010 8:27am
Quoting TheLastCoke
E/Y. I feel tempted.
120 pips drop from the TL touch.

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Drop 100 more.

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The Gartley Paid its prize, 61.8 Ret. is enough!!!

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  • #137
  • Mar 9, 2010 7:52am Mar 9, 2010 7:52am
Quoting TheLastCoke
History tells me this triangle could be the end of this consolidation period. On last 2 previous occasions this consolidation lasted for 15 day+-. (See chart at post). I am paying close attention to yellow levels and blue equidistant channel. I'll be somewhat agressive on this one and I'll star building positions at the touch of TL not at break.
This Bullish Bat gives me two options:

1. TL Re-Test, in case this turns out to be a real break and not a shakeout.

2. Go back to range inside the triangle.
Attached Image (click to enlarge)
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  • #138
  • Mar 9, 2010 10:20am Mar 9, 2010 10:20am
subscribed. keep it up.
  • #139
  • Mar 9, 2010 10:22am Mar 9, 2010 10:22am
Quoting EdgarNg
subscribed. keep it up.
You are welcome to post too.
  • #140
  • Mar 9, 2010 10:51am Mar 9, 2010 10:51am
Quoting TheLastCoke
This Bullish Bat gives me two options:

1. TL Re-Test, in case this turns out to be a real break and not a shakeout.

2. Go back to range inside the triangle.
My longs still valid. Out if closed below 50% Fibo and evaluate shorts then.
Attached Image (click to enlarge)
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