Chicky's Trading Method Viewer

Pa usually bounces a little 15 minutes before the hour close. But if it continues moving in opposite direction 10 minutes from hour close to the hour close, these small movements could become a big move in this opposite direction.

Just checked while writing this, pa is moving up just before the hour close.

Closed all positions. Now waiting to see what pa does next

LOL. Closed one minutes earlier.

Now waiting to see where it goes next, after this spike settles.

Shorting for a little scalp.

Done. Back to sidelines

One more short scalp, but this one doesnt look so good

Have to leave, so at be

Back, but missed the move.

Will take short scalp at 1.2950 if pa allows

Good enough. Have started trying for short scalps. I think pa has target much above 1.3000

My entry at 1.2935 was hit, and I was initially 20 pips in but got stopped at BE+1. How sad. I see two EW wave with 1 headed to 1.35 and another headed to 1.18. And here we are stuck in the middle of the ocean.

Good luck and take care

You did not lose at least. This is how it goes.

I think 1.35 one is more likely than 1.18.

I can see a Jesse Livermore set-up for about 150 pips.

Trying to build my long postion for a tp target of 1.3100.

I would have to agree with you. It seems like it needs to make a new low below wave a count of 1.28 lows last week.

After which we end wave c and we continue with a fresh wave of 3. Of which I think the very first wave will last us 1.3175 to retest previous highs.

I know very little about Elliot. How do you measure size of a wave?

Is it possible for you to post a chart showing a complete elliot pattern, I mean all five waves of a move.

To be honest, I'm not very good at it either.

Right now I'm combining aspects of fibonacci levels, harmonic patterns with wave counts.

I look at past PA of how retracement occurs. In small PA, whenever there is a large move, it will likely retrace 50%. That, you already know.

Sometimes it may retrace 38.2, 61.8 or 78.6 / 76.4, whatever people use.

I then look up my harmonic pattern chart, which can be found here:
http://www.babypips.com/school/the-g...e-animals.html
http://www.babypips.com/school/the-a...ree-drive.html

Using this information, I try and pinpoint and deduce the next movement. All the while taking note of the number of waves.

In a small wave, you have the basic 1-2-3-4-5-a-b-c. Depending on your trend, wave 1 would be the trend setter (you need to be able to spot this). 2 would be a retracement. If its an up trend, 2 cannot be lower than the start of 1. So if that happens, its invalid and you most likely got wave 1 wrong.

Wave 3 is the longest of the 5 waves. So after seeing wave 2, expect a bigger move upwards or downwards for completion of wave 3. Then follow with a retracement and a final push to wave 5. From here we correct downwards to a, where we get a retracement of b (which again cannot be higher than 5), followed by c.

Let me PM you something I found which was really useful Not willing to share it because I think its really good information which I spent a long while looking for.

Some levels

Connect the dots and number away

What I am trying to do now is the best way of losing money.................... trying to set a trade when there is non.

............. but I want to make it to $16,000 asap otherwise you would think that I am useless.