Effective 5M intraday trading

Good morning, traders!

Looks like scenario, I've drawn on friday is on its way.(first pic)

Here's the pic for todays possibilities.

I'm long biased in mind. So I'll wait for the price to retrace to one of the lvls and then look for setups there. However if price breaks lower TL (green line) and retests it I will be looking for shorts.

Regards,

snu.

1.Scenario 2.Pattern formation 3. Set-Up for entry - target accoding to Pattern Formation or according to Fibo caculation ( exit - 70-80% of total move - OR - 76% of ATR )....

1.Scenario 2. Roa Map 3. Entry

Here are possibilities of todays' trades and explanation of how the analysis should've been conducted.

1. We spotted yesterdays low and todays high as our reference points A and B

2. We used 4H intervals to find extremum points for plotting different scenarios and thus different sets of lvls for identification of point C.

In this particular case (see the pic) we used lowest points from different 4H intervals as our reference point A. As you can see the one which worked out was the lowest point from todays first 4H @ 1.2106. This point and point B @ 1.2206 gave us point C @ 1.2262 (using fib ratios). As you can see price reached that lvl. Target (point D) according to these three points was @ 1.2253.

3. We looked for price formations @ point C. Our template and indicators showed us H&S formation with fakeout on right shoulder (see pic). Target using ABCD model should've been 1.2250.

4. As you can see our initial ABCD model worked itself out. Now we start looking for new ABCD models, since we consider the trend to go up. Third pic shows the designation and possible retracement lvls for it (using fib ratios). As you can see lvl 1.2221 worked out, thus our target is 1.2303.

5. Price formation at point C gave us hidden divergence and our pullback entry setup. You could've entered right away using 2B pattern or on the break of second TL (after IB and fractal formation).

I tried to show here in what manner we should work every day.
Plz fell free to give feedback and ask questions.

Regards,
snu.

Good Morning!

Here's EU as I see it.

I took two points as reference A-points to calculate A-B-C retracements.
Retracements for point 1.2048 are marked in red horizontal lines.
Retracements for point 1.2162 are marked in blue horizontal lines.
Thick solid blue line is where lvls from these two points coincide.

Pic 2. Shows possible H&S formation on the lvl. I'll be looking for longs, if neckline is broken and then retested.

If price goes down more I'll be watching for setups to form on lower lvls (per pic 1)

Regards,
snu.

Break and retest of upper TL means long for me. Target around 1.2350

Regards,
snu.

I missed early entry opportunity @ 1.2195

Now HH is forming, will wait for a decent pullback and enter from right shoulder and new point C.

Regards, snu

upside movement will consist of ABCD leg...where AB=CD

in the morning we have H&SH formation - then FALSE breakdown - this false move usually means fast-flowing move...-ab- will be straight line...

1. 15min MACD in a positive zone 2. Draw TL 3. Waiting for point -c-...

New lower-order ABCD model and its targets.

Now on Upside move ( point -b-) there is a Divergence = it means PULLBACK ( and I can start do Fibo calculation)....

Yes, Serguey, thank you for pointing this out!

We should start designating models (putting points A and B on graph and calculate possible lvls for point C) only after we spot a local divergence. Only in this case we can assume that price will retrace from this point and thus a valid point C will form.

Use stochastics and CCI indicators for spotting local divergence (watch Serguey's posts).

Regards,
snu.

I' still expecting a deeper pullback since current leg up looks like a 5 wave pattern with divergence forming between wave 3 and 5. Please also note the divergence within wave 3.

Good morning!

First pic shows target according to the ABCD model we considered yesterday that was not reached.

Second pic showes possible retracement lvls if we consider different swing lows (Points A) from yesterdays up move and the high @ 1.2348 (point B)

Third pic showes H&S formation and an EP which should've been taken an hour ago. Right Now possible re-entry is forming.

Regards,
snu.

We had double top setup with break of the neckline and pullback to retest it.

Right now i'm waiting for a break of TL, fractal, IB and I'll enter short.

Initial target is 1.2250, if its broken I'll consider price to reach the 1.2210-1.2220 area.

Regards,
snu.

Red TL is drawn using local fractals.

My order is in place - right below the TL and IB @ 1.2285. Target is 1.2220

Regards,
snu.

New fractal and IB formed - I moved my EP higher 10 pips and now I'm in position.

Moved SL to BE, SL got hit @ +1 pips

We reached one of the possible lvls for point C formation according to our current ABCD model (blue labels).

I see two scenarios:

1. If price breaks and retests TL shown on the picture, I'll be looking for shorts with targets around 1.2220 as previously stated.

2. If price forms H&S pattern to the upside and gives me a valid entry I will be entering long with target around 1.2450.

Regards,

snu.