DislikedWatching this setup , its not perfect because its not off the 1st bottom low, {image}Ignored
What time frame is it ?
I am in a short on ujsdjpy at 111.37
LDFX Trading Ltd
None of the indicators can find this EURUSD D1 CWW pattern ..... this has been manually drawn.... {image}
this is the same Tf and pair as my previous post, although it lacks one of the conditions of CWW(B is lower than X), if you are higher time frame trader like me, profit was good , it has already moved 200 pips and i believe, it will still move between 100 to 300 pips more.
{quote} You tell you want to help others, and I believe you, but I think you're doing the wrong way and maybe in the wrong place as well. There are some points in your posts that I didn't like but everyone can think in a different way so I will focus just on two things that make me think what I wrote before. You said you don't trade WW and you don't believe in fibos and in fact in your analysis there are no fibos and WW are just the last confirmation of other studies that make you decide to trade or not. So my question is, do you really think to...
Thank you for your feedback. No offence has been taken.
Just to clarify a couple of points.....I do look at Wolfe Waves and use them to look for reversal trades and I use a Fib tool sometimes to look for Leg 1 =Leg 2 moves. I have posted some charts with the Fib levels on them purely for seeing where a leg 1 = leg 2 would be. The reason I have no real time for Fibs is that the market movement is basically controlled by computers. If more computers / money think that resistance is at point A than point B then the market will turn at Point A. This is purely my opinion, but I very much doubt whether the computers have 'look for a 161% Fib extension and place a trade' algorithm. Maybe I am wrong. If someone could explain a mathematical rationale for Fibs working in the market and back it up with some decent evidence then I am willing to be convinced otherwise. Until then I will just use good old support and resistance. Adam Grimes has done quite a bit of statistical analysis on Fib levels and he could find no evidence for Fibs working.
The main reason I was frustrated is that some of my charts are not perfect examples of Wolfe Waves, but they are a type of Wolfe Wave as I understand it from reading Bill Wolfe's book. The charts below are taken directly from the Wolfe book. I have conceded that some of my charts are not brilliant examples in terms of symmetry, but in terms of looking for reversals they are not too dissimilar to those posted below. So I have not sought to mislead anyone and I do genuinely seek to help. When I was laughed at for a trade not going as hoped and being breakeven rather than a winner, I decided that there was no point posting any more when there is childish behavior like that directed at me. I am not prepared to tolerate that and have better things to do with my time. Once again, thank you for your feedback and all the best.
- #633
- Mar 30, 2017 9:02pm Mar 30, 2017 9:02pm
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~
- #634
- Mar 30, 2017 9:16pm Mar 30, 2017 9:16pm
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~
- #637
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- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~
- #638
- Mar 31, 2017 3:51am Mar 31, 2017 3:51am
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~
- #640
- Mar 31, 2017 4:12am Mar 31, 2017 4:12am
- Joined Jun 2010 | Status: Trader | 1,085 Posts
No one wants to be defeated~