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Off Road System

  • #481
  • Edited 3:43am Jan 27, 2015 3:21am | Edited 3:43am
Quoting forexdaist
{quote} Finally it reach my target. This is a great start for today: EURJPY, 58 pips. Recovering the losses of yesterday.... Thank you for you advice. You have to explain me this counting waves you do. You did in 5m or in bigger TF?? thanks TONI
Congratulations.

The waves must be counted within a fractal of the same grade. As metatrader not show fractals but shows timeframes, we could talk about timeframes, to approach the concept.
In each timeframe we see waves, higher timeframes that we do not. For example on a daily candle do not see waves that followed M15.
In your chart M15 see the waves that form at that level. A little trick (not accurate) allows you to recognize waves of the same degree, visually comparing them. Thus, waves interconnected by a third, either price or time, waves are likely the same grade. The waves of the same degree are what count.
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  • #482
  • Jan 27, 2015 3:58am Jan 27, 2015 3:58am
Quoting Patron
{quote} Congratulations. The waves must be counted within a fractal of the same grade. As metatrader not show fractals but shows timeframes, we could talk about timeframes, to approach the concept. In each timeframe we see waves, higher timeframes that we do not. For example on a daily candle do not see waves that followed M15. In your chart M15 see the waves that form at that level. A little trick (not accurate) allows you to recognize waves of the same degree, visually comparing them. Thus, waves interconnected by a third, either price...
I don't know if I understood well. Do you mean that 1st and 5th wave usually have the same degree? For me it's difficult to count (I've tryed in the past...) waves, because it seams to me very subjective. In fact, it's really rare to see a clear sequence of five waves. Also I don't know how take it profit of all that.

Anyway, I'll keep my study of the thread. Thank you for helping me.


Toni
  • #483
  • Jan 27, 2015 4:26am Jan 27, 2015 4:26am
Quoting forexdaist
{quote} I don't know if I understood well. Do you mean that 1st and 5th wave usually have the same degree? For me it's difficult to count (I've tryed in the past...) waves, because it seams to me very subjective. In fact, it's really rare to see a clear sequence of five waves. Also I don't know how take it profit of all that. Anyway, I'll keep my study of the thread. Thank you for helping me. Toni
I think it would help you better than I from here, you to read a book (or via the web) on the Elliot wave, to understand the basic concept.
The nature of the market is not linear, as is any geometric figure, but is fractal as are many things in nature. Look at the web, and you will understand better.
In very fluid markets (and FOREX is the most fluid of all), the waves draw price, seem totally random and disordered, however, is not. These waves are the result of the emotions of the human body operating in that market. These waves form patterns (derived from human activity and emotions), leading to impulse waves, or corrective waves ...
A brief look at the concepts fractality, and the patterns who discovered Elliot, will help you better understand how and why markets with high liquidity move.

That is your homework.
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  • #484
  • Jan 27, 2015 4:30am Jan 27, 2015 4:30am
EA +22
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  • #485
  • Jan 27, 2015 4:32am Jan 27, 2015 4:32am
Quoting forexdaist
{quote} I don't know if I understood well. Do you mean that 1st and 5th wave usually have the same degree? For me it's difficult to count (I've tryed in the past...) waves, because it seams to me very subjective. In fact, it's really rare to see a clear sequence of five waves. Also I don't know how take it profit of all that. Anyway, I'll keep my study of the thread. Thank you for helping me. Toni
Not only is it difficult for you, counting waves. It is a difficult task even for experts in waves. But the trader need not classify exactly waves. The trader has enough to have a general idea of these issues, and work more clear where things are. The trader looking for high probability trades. That's their job. Those who want to label Elliot waves, beyond them, because it is a huge job.
Therefore, having a general knowledge is enough, because we have lots of tools related to technical analysis.
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  • #486
  • Jan 27, 2015 4:40am Jan 27, 2015 4:40am
Quoting jstmzplsz
EA +22 {image}
This thread was created to solve similar situations to which jstmzplsz shows.
The system calls this condition "undefined market" or "uncertain market."
Well resolved friend! A great example.
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  • #487
  • Jan 27, 2015 4:52am Jan 27, 2015 4:52am
Quoting Patron
{quote} This thread was created to solve similar situations to which jstmzplsz shows. The system calls this condition "undefined market" or "uncertain market." Well resolved friend! A great example. {image}
It's good to compare TFs. What is uncertain condition at M5, M15 is at lateral condition. Note the slope of the moving averages, and how ema233 is within the bands.
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  • #488
  • Edited 6:42am Jan 27, 2015 5:31am | Edited 6:42am
Quoting Patron
{quote} It's good to compare TFs. What is uncertain condition at M5, M15 is at lateral condition. Note the slope of the moving averages, and how ema233 is within the bands. {image}
Friend did you already finish the moving? I missing our morning HTF discussions
  • #489
  • Jan 27, 2015 7:05am Jan 27, 2015 7:05am
EA +30
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  • #490
  • Jan 27, 2015 7:18am Jan 27, 2015 7:18am
Hi there,

What do you all think about USDJPY. Is it time to buy maybe?

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It is arriving to the south of this triangle pattern. Let see PA how it works....



toni
  • #491
  • Edited 10:10am Jan 27, 2015 7:49am | Edited 10:10am
Quoting forexdaist
Hi there, What do you all think about USDJPY. Is it time to buy maybe? {image} It is arriving to the south of this triangle pattern. Let see PA how it works.... toni
It is possible and it is close to strong support also
  • #492
  • Jan 27, 2015 10:03am Jan 27, 2015 10:03am
EURAUD M15

Simple upside breakout, American session.
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  • #493
  • Edited 10:19am Jan 27, 2015 10:09am | Edited 10:19am
Quoting forexdaist
Hi there, What do you all think about USDJPY. Is it time to buy maybe? {image} It is arriving to the south of this triangle pattern. Let see PA how it works.... toni
Yes there are many probabilities reverse in that area. Find suitable pattern.
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  • #494
  • Jan 27, 2015 10:09am Jan 27, 2015 10:09am
Quoting Patron
EURAUD M15 Simple upside breakout, American session. {image}
Good trade It was also breakout from H4 trendline.
  • #495
  • Jan 27, 2015 10:10am Jan 27, 2015 10:10am
Quoting jstmzplsz
EA +30 {image}
Another good trade.
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  • #496
  • Jan 27, 2015 10:12am Jan 27, 2015 10:12am
Quoting jstmzplsz
{quote} Friend did you already finish the moving? I missing our morning HTF discussions
Not long to finish.
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  • #497
  • Jan 27, 2015 10:16am Jan 27, 2015 10:16am
Quoting Patron
EURAUD M15 Simple upside breakout, American session. {image}
waiting for close GJ long.....
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  • #498
  • Jan 27, 2015 10:27am Jan 27, 2015 10:27am
Quoting Patron
{quote} waiting for close GJ long.....
GBPJPY M5

I have no patience to wait more than GJ. I'm tired.

My quota is reached.
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  • #499
  • Jan 27, 2015 10:31am Jan 27, 2015 10:31am
Quoting Patron
{quote} Yes there are many probabilities reverse in that area. Find suitable pattern.
By the way, it's a great signal that you have sent. Thank You.
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  • #500
  • Edited 12:01pm Jan 27, 2015 11:39am | Edited 12:01pm
hey guys,

today I was very busy with my day job (actually still I am), so I couldn't allocate much time for trading. but I caught a trade @ GBPAUD which ended well and I want to share it with you.

I was planning to long the pair according to PA at the reaction level I determined before. but the spread widened up to 23 pips(!) with the news and price turned just from that level, so I longed after the spread was normal again. in other words, I missed my entry point about 20 pips, but still managed to get 91.

M1 GBPAUD +91

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