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Need divergence lines added to Constance Brown Composite Indicator 2 replies

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T. Roswell Brown

  • #1
  • First Post: Edited 2:51am Sep 10, 2012 2:19am | Edited 2:51am
We've already seen two "expanded flat"" wave 2's (of different degrees) in the last 65 or so H1 bars, and we may have just completed another expanded flat (wave 4 this time).

Currently looking at either wave 4 of 3 of C of Y, or wave 4 of Y.....Either way, 1.2880 is the next upside target.
  • #2
  • Sep 10, 2012 2:29am Sep 10, 2012 2:29am
That's a good start to the upside, but if this is a 4th, then it could be hours before target is reached. We also have a setup known as a Grail Buy on the H1 charts.
  • #3
  • Sep 10, 2012 2:50am Sep 10, 2012 2:50am
If it's going to take out the 1.28165 high quickly, then right here is a good point to turn and head north again. Otherwise, we'll likely see sideways action for some time to come yet.
  • #4
  • Sep 10, 2012 5:45am Sep 10, 2012 5:45am
So, three more hours of sideways PA...and we could be here a while longer.

Currently bouncing off an H1 linear regression channel...and the H1 20 EMA.


If we get a close above 1.2795, then will look for a re-test of Friday's high, and possibly a new high.



If a new high is printed, then 1.28267 and 1.28433 are intermediate targets to the upside -- may see minor resistance at these levels.
  • #5
  • Sep 10, 2012 11:37pm Sep 10, 2012 11:37pm
So, it looks like we have had 17 more hours of wave 4 type PA here...Seems that we do have a deeper pullback projected now with 1.2715 to 1.2725 area targeted.

One possible scenario is that we re-trace up to 1.28032 (78.6% of the 62.1 pip move down), and then sell off from there.

The upside targets remain -- we just need to find the bottom of this wave 4 first.
  • #6
  • Sep 11, 2012 1:30am Sep 11, 2012 1:30am
This is a good point to take a long scalp targeting a re-test of 1.2800 - 1.2805 area....stop at the lows.
  • #7
  • Sep 11, 2012 1:44am Sep 11, 2012 1:44am
This little move up should consist of three legs....
  • #8
  • Sep 11, 2012 1:53am Sep 11, 2012 1:53am
Lol..I notice that the "add to loser" specialist is in the house...Can only shake my head.
  • #9
  • Sep 11, 2012 1:55am Sep 11, 2012 1:55am
Closing the long scalp here....Watching for an opportunity to short now. Still see some downside potential.
  • #10
  • Sep 11, 2012 1:59am Sep 11, 2012 1:59am
She overshot the 1.28032 level by 3.5 pips...Will wait for PA to show a shorting signal.....
  • #11
  • Sep 11, 2012 2:17am Sep 11, 2012 2:17am
If we can move below 1.27936, and then re-trace back to 1.2803 or so, then we may have a shorting opportunity.
  • #12
  • Sep 11, 2012 2:45am Sep 11, 2012 2:45am
This still looks like a possible "expanded flat" 4th wave, only bigger than earlier anticipated.

If it is, then we should see a 5 wave move down to the target areas mentioned earlier...and we still have the upside targets later.

Fourth waves are usually difficult to trade!
  • #13
  • Sep 11, 2012 3:10am Sep 11, 2012 3:10am
Quoting BlueCirrus
If we can move below 1.27936, and then re-trace back to 1.2803 or so, then we may have a shorting opportunity.

It just did precisely this, but since we went all the way up to 1.2818, I now want to see a bigger re-trace to the 12 to 14 area....
  • #14
  • Sep 11, 2012 3:34am Sep 11, 2012 3:34am
..Should have followed my script - would have been a nice little short scalp..

Think I'll just take the 41 from the earlier long scalp and go to bed! Lol

May see a three wave move up to the 12- 14 area completed here in about 50 minutes or so...
  • #15
  • Sep 11, 2012 12:04pm Sep 11, 2012 12:04pm
Quoting BlueCirrus
We've already seen two "expanded flat"" wave 2's (of different degrees) in the last 65 or so H1 bars, and we may have just completed another expanded flat (wave 4 this time).

Currently looking at either wave 4 of 3 of C of Y, or wave 4 of Y.....Either way, 1.2880 is the next upside target.
Ok, it looks like it was the former...We did not get the larger pullback seven hours ago, so we are still in the process of completing the third wave of C of Y.

Now watching for a high above 1.2880 (preferably above 1.2890) to complete that third wave, and at that point, we should see a larger degree 4th of C of Y. This will likely consume more time and correct further down than the messy PA we completed yesterday.

1.29338, 1.30542 and 1.31482 are upside targets for later this week or early next week (after we get the 4th of C of Y pullback).
  • #16
  • Sep 11, 2012 11:42pm Sep 11, 2012 11:42pm
Alright....let's see if she holds here.....
  • #17
  • Sep 12, 2012 3:34am Sep 12, 2012 3:34am
Looking for that larger swing down now...
  • #18
  • Sep 12, 2012 4:53am Sep 12, 2012 4:53am
Quoting BlueCirrus
Ok, it looks like it was the former...We did not get the larger pullback seven hours ago, so we are still in the process of completing the third wave of C of Y.

Now watching for a high above 1.2880 (preferably above 1.2890) to complete that third wave, and at that point, we should see a larger degree 4th of C of Y. This will likely consume more time and correct further down than the messy PA we completed yesterday.

1.29338, 1.30542 and 1.31482 are upside targets for later this week or early next week (after we get the 4th of C of Y pullback)....

Did not get a clear signal to long this morning...will check again later..
  • #19
  • Sep 12, 2012 9:20am Sep 12, 2012 9:20am
Looks like a 5m expanding triangle... If so, then 1.2917 may be a price to short targetng 1.2853.
  • #20
  • Sep 12, 2012 9:41am Sep 12, 2012 9:41am
Hmm...shorted the break and re-test - targeting 54 to 56 area, then 24...
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