My short setup
DislikedMy short setupIgnored
DislikedSorry for my 1st Question here. May be a no brainer BUT:
As far as my understanding after studying the whole thread here (yes, it takes a while but it is worth in my eyes):
With AU you should look for a long trigger above dragon, right?
From a plain sonic perspective there is no short trigger here.Ignored
Dislikedmaybe i mistake... will seeIgnored
DislikedOf course AU is trending down.
Maybe you can explain which role the dragon lines are playing?
As far as my understanding, the crossing of the 3 lines to north direction would indicate a long trade.Ignored
DislikedIf a candle close below dragon (3 lines) = part of a short setup (you have to care about waves, trend and so on as well)
vice versa for long.
It is better when the decision candle is a significant one, not just a small tiny micropips candle.
That is how I use it.Ignored
DislikedOk. thank you for explaining.
I am aware of the fact that waves, trends matter.#
So in your attached chart of AU constantly new LL have been made.
I can see one HL in the end.
Can you please mark your view of the waves in the chart?
Just to be clear on this one.Ignored
DislikedWe're on the same page.
And I riding on AU short as well. Just a bit of upset due to UChf move slower than AU for this round.Ignored
DislikedAndrew, that is a valid WAVE. And the Dragon is angled down. But your EP was wrong.
1. The first candle out of the Dragon after WAVE leg #3 began established the first EP area. Entry here was good for about 50 pips.
2. But before PA ran that 50+ pips, it pulled back above the Dragon. The next candle down out of the Dragon placed an EP area more than 20 pips away from the Dragon. Under such circumstances it would have been best to pass on any trade entry here.
3. Where you entered was not an EP area and you should not have made trade entry...Ignored