Come with me if you want to live....
- #41
- Oct 16, 2014 7:50am Oct 16, 2014 7:50am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
- #43
- Dec 3, 2014 5:02am Dec 3, 2014 5:02am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Range trading in the middle of a complex correction.
Elliott Wave for optimum entry, exit and risk management of trades
- #45
- Dec 9, 2014 1:07pm Dec 9, 2014 1:07pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
The massive accumulation in the last 3 months is gearing up for an explosive breakout to the upside, it's just a matter of time.
Elliott Wave for optimum entry, exit and risk management of trades
- #46
- Dec 9, 2014 1:12pm Dec 9, 2014 1:12pm
- Joined Jan 2011 | Status: dump and pump | 4,055 Posts
All posts are my personal opinion
- #48
- Dec 9, 2014 1:17pm Dec 9, 2014 1:17pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Elliott Wave for optimum entry, exit and risk management of trades
- #49
- Dec 9, 2014 1:32pm Dec 9, 2014 1:32pm
- Joined Jan 2011 | Status: dump and pump | 4,055 Posts
All posts are my personal opinion
- #50
- Dec 14, 2014 2:08am Dec 14, 2014 2:08am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
A rethink due to price decline, that the complex correction iv is still in progress, before a long extended wave v advance, i.e. on a daily time frame.
Elliott Wave for optimum entry, exit and risk management of trades
Trading idea: Short CADCHF
Entry: Around the 0.76 level
Stop loss: > 0.7660
Target: < 0.7460
The pair is around the 0.76 level that is a important area. It has funtioned as both support and resistance. Since the level was established it has only succesfully been broken once.
Below is a chart of the daily TF, with possible R:R ratios on it. Bear in mind that it is not for sure that price will go up to the 0.76 level again, this R:R ratios is based on it. If these ratios are to become valid atleast 1:2 is obtainable, if former PA is to be trusted.
Daily
We zoom down to the hourly chart to find the signals given for the shorter term. They suggest that the resistance might hold and that the pair will descend. Also when zoomed out we see that at the previous times signals were forming as now, the pair descended significantly. As the pair is challenging resistance the entry levels are easier to spot.
Hourly
Hourly zoomed out
The 15m chart is used for confirmation. The signals here could be stronger. Still they are not contradicting what is seen on the 1h chart. There is hope that the pair again will test the 0.76 level, which will give an opportunity for a short entry.
The fundamentals for the coming week includes news from Canada and abundance of news from China. This might be the drivers for a move with the pair. Also I have a bearish outlook for the Oil price.
Below is a chart of WTI on the hourly chart.
If the news from China is bad, positioning short with this pair is in accordance with an risk-off scenario. The commodity currencies will weaken, whilst the safe-haven currencies will strenghten. If due this could strenghten the position further.
Entry: Around the 0.76 level
Stop loss: > 0.7660
Target: < 0.7460
The pair is around the 0.76 level that is a important area. It has funtioned as both support and resistance. Since the level was established it has only succesfully been broken once.
Below is a chart of the daily TF, with possible R:R ratios on it. Bear in mind that it is not for sure that price will go up to the 0.76 level again, this R:R ratios is based on it. If these ratios are to become valid atleast 1:2 is obtainable, if former PA is to be trusted.
Daily
We zoom down to the hourly chart to find the signals given for the shorter term. They suggest that the resistance might hold and that the pair will descend. Also when zoomed out we see that at the previous times signals were forming as now, the pair descended significantly. As the pair is challenging resistance the entry levels are easier to spot.
Hourly
Hourly zoomed out
The 15m chart is used for confirmation. The signals here could be stronger. Still they are not contradicting what is seen on the 1h chart. There is hope that the pair again will test the 0.76 level, which will give an opportunity for a short entry.
The fundamentals for the coming week includes news from Canada and abundance of news from China. This might be the drivers for a move with the pair. Also I have a bearish outlook for the Oil price.
Below is a chart of WTI on the hourly chart.
If the news from China is bad, positioning short with this pair is in accordance with an risk-off scenario. The commodity currencies will weaken, whilst the safe-haven currencies will strenghten. If due this could strenghten the position further.
Do not let the cost of being wrong, exceed the prize of beeing right
