Thread: Interactive Trading Setups Disscussion

and some similar supporting analysis by Ariello from another chatroom ->

Eurusd

Good day to all,

Check out EUR USD for a CRAB BEARISH.
XA - B with 61.8 Retrace
BC Projection on 361.8 FIB, Extreme extension
XA leg retracement on D point for 161.8, validating pattern.
4H chart shows terminal bar on PRZ
RSI on overbought condition over 80

Going in for 3% risk and 50 pip TP1, trailStop for 30 pip.



(Im still becoming profitable on DEMO account, if any are wondering)

Regards to all,

Originally Posted by tiagolopez6

Good day to all,

Check out EUR USD for a CRAB BEARISH.
XA - B with 61.8 Retrace
BC Projection on 361.8 FIB, Extreme extension
XA leg retracement on D point for 161.8, validating pattern.
4H chart shows terminal bar on PRZ
RSI on overbought condition over 80

Going in for 3% risk and 50 pip TP1, trailStop for 30 pip.



(Im still becoming profitable on DEMO account, if any are wondering)

Regards to all,

I've been stopped out now, it burst through PRZ, I consider invalidated pattern now.

Regards to all!

Hi tiagolopez6,

If I could ask a quick question, what do you mean by terminal bar on 4 hour chart?

Thank you!

Good day mbarker22,

It's the Scott Carney recomendation on price activity on PRZ. The Terminal Bar is a the bar that tests al the levels in the PRZ, this being XA Retracement or Extension, BC Projection and finally an AB=CD pattern and the alternate 1.27, 161.8 AB=CD. The idea of the bar, is to test all PRZ going in to the pattern possibility. If this bar does so, it represents an excellent entry point for the pattern, allowing the entry to be emotionless or guessing when to do so, and giving it a systematic aproach, allowing it to be a parametric system without needing gut or human emotion. I find it very helpful, though I can give pending orders, with my risk calculated, and PT, normally stop orders:

Extracted from Harmonic Trading Vol 1 - Carney M Scott



Regards to All!

All those confirmations and it still failed. IMO your B is not deep enough for those long legs. Its not geometric pretty at all.

Good day trademonster,

thanks for the opinion, I have a question, for deep moves you recomend deeper B points?

Also, as you said, having all this confirmations, and still not nailing any pips got me analyzing and I found that the terminal bar showed up after an invalidating PRZ bar, one that bursts through PRZ before my analysis. Revising every trade constantly sometimes makes me skip things, so the pattern was invalidated before my entry as I conlcude.

thank you for any shared experiences.

Regards!