1 Attachment(s) In this case there was so much buying pressure it didnt retrace beyond the last line, it rather bounced off the last lineup and hit tide 5.
https://forexintuitive.com/discussio...-sideways.html
1 Attachment(s) In this case there was so much buying pressure it didnt retrace beyond the last line, it rather bounced off the last lineup and hit tide 5.
https://forexintuitive.com/discussio...-sideways.html
1 Attachment(s) This is an opinion on this particular tide we've been plotting in a 4 hour chart.
So this tide cud have netted around 800 pips per week.
https://forexintuitive.com/forex-tra...ing-diary.html
1 Attachment(s) Okay still nobody. Well here is a example running, we will find out what happens with this. Additionally, it demones that this method may be utilized on any time frame.
We will be focusing mainly on 5 min but:
look at a 30 min chart for USDCHF. And plot a fib on this tide 1 series in picture.
Set a flat line on the 38.2 line. That is where we expect price to turn around.
https://forexintuitive.com/discussio...llective2.html
1 Attachment(s) Ok now return to 5 min chart. Now put the next fib on wave 1 to get the projection of wave 3 end.
Put another flat line at the very first wave 3 end, or aim as it shows in my picture.
https://forexintuitive.com/discussio...1-usd-jpy.html
1 Attachment(s) Ok so that is where price is expected to go. Interestingly now, if you envision that price has reached this tide 3 end level, pull your fib from the start of wave 3 to this horizontal line or at which we believe wave 3 will end.
Now consider where our tide 5 end projection lands near.
It's landed quite close to the sooner horizontal line on our 30 min chart. This is a great target to go for.
Lets see what happens anyhow.
https://forexintuitive.com/discussio...-news-***.html
Hello, I interest with your egy but nevertheless make confuse me. Do you have e-book that can share with?
1 Attachment(s) Hey dashboard and Benjie. Sorry I dont have e-book. I am very bad at describing things. This is only a few things I've picked up in my travels across the net.
I dont exclusivly use this process, I treat this more of a tool in my toolbox. I need to say though because removing MA's and other indiors like my trading has improved and so has my head. That doesnt mean MAs etc are not any good, they simply give me a headache when looking at the screen.
Sometimes though price doesnt really behave as straightforward as the 5 wave and abc wave approaches described here. Elliot wave theory does move a lot deeper than that.
But it's a very effective way as the take profit and prevent loss is calculated for u using quite good risk reward ratio. You simply need to draw the extension correctly to get good results. Even then somtimes they dont work out, but soon understand when it isnt and may get out the market before it rapes u.
Benjie wud be good if u do a few live analyzing possibly if we've got a small collaboration we will find what works nicely and what doesnt.
As guys seem interested ill start covering a live chart again.
That I have decided to utilize GBPUSD on the 15min.
I wish to utilize the 15m chart because things happen much faster. I dont want to be doing daily or even hourly for now. It's better to get across the ideas like this.
One little tip dont put lots of lines onto your fiboncachi tool since it just gets too cluttered. Untill u are comfortable to do it, but I really dont. I've 9 Lines on mine and they are nicly seperated so I will see them.
I eliminate this 38.2 and 61.8 internal fibs since they are about in which the price bounces around and do mean anything to me personally.
I only have:
0.0 called - Resistance,
0.236, 0.50, 0.748,
1.0 called - Resistance,
1.382 Called Wave 5 END,
1.618 also Wave 5 END,
2.0 called - Wave 3 END,
and finally 2.618 - Wave 3 END.
Anyhow on with live testing, this time ill keep posted.
Chart : GBPUSD 15m
Current Wave: Possible 1,2.
Entered: BUY at 1.4556
seeking to strike the first wave 3 expansion at 1.4776.
SL set just beneath the Reverse or 23.6 internal fib at 1.4410.
If price approaches the Wave 5 END extensions, we can participate in our position out as price usually retraces from here. If price does reach these and retraces back beyond the top Resistance line we exit all positions as the wave is now excruciating.
Rationale is that wave 4 shud never enter the price area of waves 1 and 2 2.
Lets see how she belongs.
https://forexintuitive.com/discussio...ion-pairs.html
1 Attachment(s) oops posted incorrect chart.
https://forexintuitive.com/forex-tra...e-journal.html
Ok now stop loss proceed to 1.4520. Constantly hoping to decrease risk, yet still give good space so not to have stopped out.