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  • #1,074,201
  • Aug 20, 2016 12:57pm Aug 20, 2016 12:57pm
Quoting pytaz
{quote} As i promised, here are my EW count since Brexit, its on D1 and H4(for more clarity), it will broke just if market hits 1.0950 now {image} {image}
Because you don't want 4 to overlap with 1.. However, your purple count seems no abiding my the rules since purple 5 is longer then purple 3 (actually all your 5s are longer than your 3s!) ..

That is why I am looking at it differently.. For example, on the last bullish EW, I have the my wave 1 where you have your purple 3 then my 2 is your 4, high of 16th August is "a" the low of the 17th is "b" then high of the 18 is 3!!

That is why I see a remaining wave 5..

Well.. Only time will tell when I am wrong on this..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,074,202
  • Aug 20, 2016 1:04pm Aug 20, 2016 1:04pm
Quoting baherhosni
{quote} Because you don't want 4 to overlap with 1.. However, your purple count seems no abiding my the rules since purple 5 is longer then purple 3 (actually all your 5s are longer than your 3s!) .. That is why I am looking at it differently.. For example, on the last bullish EW, I have the my wave 1 where you have your purple 3 then my 2 is your 4, high of 16th August is "a" the low of the 17th is "b" then high of the 18 is 3!! That is why I see a remaining wave 5.. Well.. Only time will tell when I am wrong on this..
can u show your screenshot for better view?
(It's not an advise, use your own head..)
  • #1,074,203
  • Aug 20, 2016 2:13pm Aug 20, 2016 2:13pm
Quoting pytaz
{quote} can u show your screenshot for better view?

Just a quick job since it was in my head.. so It may have some mistakes.. But will be good enough to share with you and get opinions..
Here:


EDIT NOTE: the channel is also a lot better drawn on the second image from MT4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 136 KB
Click to Enlarge Name: Screenshot2.png Size: 116 KB
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,074,204
  • Aug 20, 2016 3:10pm Aug 20, 2016 3:10pm
Quoting baherhosni
{quote} Just a quick job since it was in my head.. so It may have some mistakes.. But will be good enough to share with you and get opinions.. Here: EDIT NOTE: the channel is also a lot better drawn on the second image from MT4 {image} {image}
If we look closer in 1H chart, price is trapped between up and down trendlines. I think first few hours of Monday open will reveal the direction if it doesn't gap up or down.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture1.PNG Size: 29 KB
  • #1,074,205
  • Aug 20, 2016 3:14pm Aug 20, 2016 3:14pm
EURUSD 12H Renko Chart:
Running out of steam?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 160819 12H [1].png Size: 58 KB
Wait, or you will be slaughtered!
  • #1,074,206
  • Aug 20, 2016 3:16pm Aug 20, 2016 3:16pm
EURUSD 12H Heikin-Ashi Chart:
Running out of steam?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 160819 12H [2].png Size: 74 KB
Wait, or you will be slaughtered!
  • #1,074,207
  • Aug 20, 2016 3:27pm Aug 20, 2016 3:27pm
Quoting Nabz
{quote} If we look closer in 1H chart, price is trapped between up and down trendlines. I think first few hours of Monday open will reveal the direction if it doesn't gap up or down. {image}
do you only use trendlines?
  • #1,074,208
  • Edited 5:45pm Aug 20, 2016 4:12pm | Edited 5:45pm
Quoting Don96
{quote} do you only use trendlines?
I personally know someone locally who daytrade/scalp futures market (No CFD, real future contracts because of very low spread and commission) and occasionally forex. He's been doing it for years and absolutely killing it, he used to work in an investment bank. I learnt from him to use channels/trendlines as primary indicator for entering trades. Secondary is moving averages. There is no third. Instead of moving averages I use Ichimoku Cloud indicator which is almost the same thing.
  • #1,074,209
  • Aug 20, 2016 5:09pm Aug 20, 2016 5:09pm
Quoting Nabz
{quote} I personally know someone locally who daytrade/scalp futures market (No CFD, real future contracts because of very low spread and commission) and occasionally forex. He's been doing it for years and absolutely killing it, he used to work in an investment bank. I learnt from him to use channels/trendlines as primary indicator for entering trades. Secondary is moving averages. There is no third. Instead of moving averages I use Ichimoku Cloud indicator which is almost the same thing. This is one day trading summary (16th Aug) he shared. {image}...
I don't get it ? why is this relevant ?
  • #1,074,210
  • Aug 20, 2016 5:25pm Aug 20, 2016 5:25pm
Quoting Don96
{quote} I don't get it ? why is this relevant ?
You asked me what indicators I use. I also mentioned why I use them. There is no harm in that.
  • #1,074,211
  • Aug 21, 2016 2:19am Aug 21, 2016 2:19am
Quoting Nabz
{quote} I personally know someone locally who daytrade/scalp futures market (No CFD, real future contracts because of very low spread and commission) and occasionally forex. He's been doing it for years and absolutely killing it, he used to work in an investment bank. I learnt from him to use channels/trendlines as primary indicator for entering trades. Secondary is moving averages. There is no third. Instead of moving averages I use Ichimoku Cloud indicator which is almost the same thing.
Similar here...
Attached Image (click to enlarge)
Click to Enlarge Name: Chart.jpg Size: 579 KB
  • #1,074,212
  • Aug 21, 2016 3:18am Aug 21, 2016 3:18am
Quoting nafham
{quote} Similar here... {image}
Cool
  • #1,074,213
  • Aug 21, 2016 6:11am Aug 21, 2016 6:11am
Waiting to go short

Main chart + Correlation which was found out with the help of myfxbook correlation tool
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 103 KB
Click to Enlarge Name: Screenshot2.png Size: 76 KB
The truth is hidden from you
  • #1,074,214
  • Aug 21, 2016 7:57am Aug 21, 2016 7:57am
Quoting Nabz
{quote} You asked me what indicators I use. I also mentioned why I use them. There is no harm in that.
you learned from him but your entries are quite bad
  • #1,074,215
  • Aug 21, 2016 8:18am Aug 21, 2016 8:18am
bearish to me...

same with daily..
Attached Image
  • #1,074,216
  • Aug 21, 2016 8:35am Aug 21, 2016 8:35am
Quoting Don96
bearish to me... same with daily.. {image}
I hope it to.

Watch out yellen speech later this week.

See you guys next week.
  • #1,074,217
  • Aug 21, 2016 8:37am Aug 21, 2016 8:37am
Quoting Don96
bearish to me... same with daily.. {image}
Yes it does.. However, I see us talking about 1400-1440 again soon (within the coming 2 weeks)
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,074,218
  • Aug 21, 2016 9:41am Aug 21, 2016 9:41am
Maxen D ,
your charts are most interesting and revealing . Thank you.


Fri. 19 Aug. was 360 days from the 24 Aug. 2015 TOP ........same situation , same psychological overextention.
I see there are few fellow traders that did NOT understand the message of 24 July. and I mean the BREXIT referendum and its implications in the E. and BP.
Going [or rather hoping to go ] above 1.1427 is same as believing that the BREXIT did NOT happen and if it happened it was a night dream [Summer dream in our case...].
The BREXIT created a new reality that is better not to ignore.
The strength of the coming slide will be telling.

From the 3 May top @ 1.1615 we have seen 2 waves 1-2 . I suppose now is the time to see the thirds.......

The Market Makers [MM] have done a great job killing all folks who entertained short ideas... and they created quite an audience of higher prices looking traders. But the rubber band is overextended. . . . . Don't buy their algae. . .
  • #1,074,219
  • Aug 21, 2016 9:59am Aug 21, 2016 9:59am
Quoting Don96
{quote} you learned from him but your entries are quite bad
That not nice to say like that. We all have been through the similar stage before we come to what we are now 😂
  • #1,074,220
  • Aug 21, 2016 10:09am Aug 21, 2016 10:09am
Quoting baherhosni
{quote} Yes it does.. However, I see us talking about 1400-1440 again soon (within the coming 2 weeks)
I am looking to see the 1400 plus levels in the euro in the coming Monday
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