12-20-2012, 12:23 AM #1071
I like how the aud/chf is forming, to me the fact that the BC retraced 50% of XAB channel instills confidence in the pattern, so yes bullish but will hold off and wait for PA signal on one of the channel lines.
12-20-2012, 01:32 PM #1072
USDPLN long opportunity ->
12-20-2012, 04:36 PM #1073
CHFPLN long opportunity ? ->
12-20-2012, 10:26 PM #1074
12-20-2012, 11:05 PM #1075
@cvb, do not like the location of this pattern, and not my Pair :-)
This could end up in long opportunity, but i would need to see couple more lower lows on Daily.
12-20-2012, 11:09 PM #1076
here is the presented the concept of pattern location on the chart, here is for Gartley (similar for Bat) -> Gartley pattern and Elliot Wave theory
and here is for Butterfly (similar for XABCD diagonal) Butterfly pattern and Elliot Wave theory
hope this clarifies my approach to harmonic patterns.
12-20-2012, 11:32 PM #1077
Elliott Wave Analysis for EURUSD -> market waves catcher: EURUSD udpate 21.21.2012
What's your opinion?
12-21-2012, 01:17 AM #1078
12-21-2012, 07:42 PM #1079
here is the update on CHFPLN placed yesterday -> . So far, so good, the reaction after pattern reach D point price level is like "from the books" :-)
This is the power of harmonic trading, ...if you are able to find PROPER patterns (and proper is not only price relationships between the swings, but also time, internal swing structures, pattern location on the chart with MTF consideration) you can take many StopLosses and in the long run you will be still profitable. This is because geometry based trading and proper confirmations offers so good Reward:Risk ratio. The rest is in our heads - to stay long enough in the possible new trends started by the pattern.
12-25-2012, 11:30 PM #1080
new intersting mt4 indicator added for instruments correlation visualization (several charts on 1 chart) -> charts overlay correlation comparison indicator