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Mr. Scott's Crayon Thread

  • #3,201
  • Oct 13, 2015 7:02am Oct 13, 2015 7:02am
Quoting SuperMario21
{quote} No, this is not the best way to get in the PRZ {image}
Hi SuperMario,

But that does put the 181.86 potentially in play.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,202
  • Oct 13, 2015 8:09am Oct 13, 2015 8:09am
Quoting JunkyFX
EJ possible retrace pattern 137. EU is strong today though so a tough one to take at the end of the week. {image}
This one is working but very slowly.
  • #3,203
  • Oct 13, 2015 8:10am Oct 13, 2015 8:10am
Quoting JunkyFX
ECAD {image}
Nope on this one, UCAD wants bouncy bouncy and EU seems to be marching higher for some reason.
  • #3,204
  • Oct 13, 2015 8:11am Oct 13, 2015 8:11am
Quoting JunkyFX
I'm guessing Scott may have already posted this many days ago but worth a look on the EU. {image}
11580 seems a long way away but possible on EU.
  • #3,205
  • Oct 13, 2015 8:27am Oct 13, 2015 8:27am
Quoting Mr. Scott
{quote} Hi SuperMario, But that does put the 181.86 potentially in play.

Well done!
  • #3,206
  • Oct 13, 2015 10:45am Oct 13, 2015 10:45am
Quoting SuperMario21
Ok, let's try this one. USDCAD, 1 hour chart. I have also the Elliott count that gives me 1.3108. No news expected today.... {image}
Also this one didn't work...

Attached Image (click to enlarge)
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And the Gartley on AUDCAD daily chart is on the wrong way at the moment (still possible a Crab)

Attached Image (click to enlarge)
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  • #3,207
  • Oct 13, 2015 11:04am Oct 13, 2015 11:04am
Quoting SuperMario21
{quote} Also this one didn't work... {image} And the Gartley on AUDCAD daily chart is on the wrong way at the moment (still possible a Crab) {image}
Hi SuperMario,

No worry, I liked that one with confluence. But if you look CAD did smaller barely valid bat and drop. Valid to me from smaller swing due to no close above.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,208
  • Edited 12:10pm Oct 13, 2015 12:00pm | Edited 12:10pm
Quoting Mr. Scott
{quote} Hi SuperMario, No worry, I liked that one with confluence. But if you look CAD did smaller barely valid bat and drop. Valid to me from smaller swing due to no close above.
Analyzing my mistakes today, probably I didn't properly apply the theory described in the books ("The Harmonic Trader" and "Harmonic Trading Vol.1").
I'm still a "newbie" with this method (I started to study it just a couple of months), and I still have to work and study, to improve it.

The best thing is that the only pattern violated took the stop loss, (GBPJPY 30 min Bat - small loss, it was a pending order). This morning, however, I made some good trades, with good profit. Regarding the two patterns on the CAD, I didn't trade them because they did not have reach the completion point. So the balance for today is good.

But I am not satisfied, I still don't like it.

I mean, I find the possible patterns, see the ratios, but I didn't consider the position of the patterns in the market (the context).
To make it work better, the patterns must be located in a specific point of the market. This argument is not well described in the books, or, at least, I have not got it right.

I am trying to improve the method for tomorrow. Let's see how it goes.
  • #3,209
  • Oct 13, 2015 12:39pm Oct 13, 2015 12:39pm
Quoting SuperMario21
{quote} Analyzing my mistakes today, probably I didn't properly apply the theory described in the books ("The Harmonic Trader" and "Harmonic Trading Vol.1"). I'm still a "newbie" with this method (I started to study it just a couple of months), and I still have to work and study, to improve it. The best thing is that the only pattern violated took the stop loss, (GBPJPY 30 min Bat - small loss, it was a pending order). This morning, however, I made some good trades, with good profit. Regarding the two patterns on the CAD, I didn't trade them because...
Hi SuperM
In my view its not necessary to know patterns exactly but importance to me is swing fibs.If you project 1.618 extension on H4 D swing and price hits that number expect a reaction likewise 618 retrace.
I use fib pivot for this for simplicity plus drawing manually on swings.Keep it simple.Following news that effect currencies can override any fibs like we have this week on China.To me its important to stay current up to date what's going on.
regards
In trading, you have to be defensive and aggressive at the same time
  • #3,210
  • Oct 13, 2015 1:00pm Oct 13, 2015 1:00pm
UC Interesting. I positioned at my reaction level but will see if it holds the low.
Attached Image (click to enlarge)
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  • #3,211
  • Oct 13, 2015 1:02pm Oct 13, 2015 1:02pm
Quoting Davit
{quote} Hi SuperM In my view its not necessary to know patterns exactly but importance to me is swing fibs.If you project 1.618 extension on H4 D swing and price hits that number expect a reaction likewise 618 retrace. I use fib pivot for this for simplicity plus drawing manually on swings.Keep it simple.Following news that effect currencies can override any fibs like we have this week on China.To me its important to stay current up to date what's going on. regards
Hi Davit, how is it buddy. See youve been pulling some great trades this month..
  • #3,212
  • Oct 13, 2015 1:06pm Oct 13, 2015 1:06pm
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  • #3,213
  • Oct 13, 2015 1:22pm Oct 13, 2015 1:22pm
Quoting Davit
{quote} Hi SuperM In my view its not necessary to know patterns exactly but importance to me is swing fibs.If you project 1.618 extension on H4 D swing and price hits that number expect a reaction likewise 618 retrace. I use fib pivot for this for simplicity plus drawing manually on swings.Keep it simple.Following news that effect currencies can override any fibs like we have this week on China.To me its important to stay current up to date what's going on. regards
Thanks Davit,
you are right when you say "its not necessary to know patterns exactly". The target is to find the best area where to see a change of trend, also a few pips. Usually the patterns are good because with them you see an area where you can find 3, 4 or 5 Fibonacci ratios. So you can take a trade with high probability of success. The best is to find in the same area S/D levels, trendlines, etc etc.

About Fib Pivot this morning I saw your indicator, it look nice, but I have to understand how to "read" it on the market.

I also understand about the news, that can change the behavior of the market in a while.

My target is to improve the application of this method, decrease the mistakes, without losing time following a pattern that will be invalidate because is a wrong position in the market.

Thanks for your support
  • #3,214
  • Oct 14, 2015 2:11am Oct 14, 2015 2:11am
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  • #3,215
  • Oct 14, 2015 7:10am Oct 14, 2015 7:10am
USD news in a few...

:nerd:

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  • #3,216
  • Oct 14, 2015 7:52am Oct 14, 2015 7:52am
Quoting SuperMario21
USD news in a few... :nerd: {image}
Nice eye Mario. Also a 786 larger. Looking GU at h1 55.9/113 failure, one relevant.
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,217
  • Oct 14, 2015 8:23am Oct 14, 2015 8:23am
Quoting Mr. Scott
{quote} Nice eye Mario. Also a 786 larger. Looking GU at h1 55.9/113 failure, one relevant. {image}
Thanks..it's working at moment.
On GU I didn't see patterns.
I've got nice entry on NZDUSD and EURUSD using Elliott patterns, I didn't find Harmonic patterns.....

On JPYUSD the Bat looks so good

http://www.forexfactory.com/showthre...01#post8536701
  • #3,218
  • Oct 14, 2015 8:38am Oct 14, 2015 8:38am
Quoting SuperMario21
{quote} Thanks..it's working at moment. On GU I didn't see patterns. I've got nice entry on NZDUSD and EURUSD using Elliott patterns, I didn't find Harmonic patterns..... On JPYUSD the Bat looks so good http://www.forexfactory.com/showthre...01#post8536701

Cool, you already posted it, I forget what I post here sometimes.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,219
  • Oct 14, 2015 10:54am Oct 14, 2015 10:54am
Quoting Mr. Scott
{quote} Cool, you already posted it, I forget what I post here sometimes.
I bought the USD on many pairs because I expect USDIndex becomes bullish.

I do not know if there's room to reach the completion point of the Bat on USDJPY.

Also this time it seems that the 0,786 level of XA is very strong in the Bat, it often happened to me, lately.
  • #3,220
  • Oct 14, 2015 1:13pm Oct 14, 2015 1:13pm
Quoting Mr. Scott
{quote} Cool, you already posted it, I forget what I post here sometimes.
Pending order executed on JU
Look at the Gold
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