Hello, traders! My name is Hellena, and I have been studying a variety of technical analyses for a long time, but I finally settled on Ralph Elliott waves. Combined with CME data, it works out quite well! I decided to share my thoughts here, I hope you don't mind).
EUR/USD (4H): Short to 100% Fibo extension 1.05684. It's not so simple with the Eurodollar. Is the price trying to draw another correction for quite a long time?
DJI (4H): Long to the resistance area 39156.49. I suppose that the price has started the wave "5" of the higher order. At the moment I expect a correction in wave "2" of lower order, then I expect the beginning of wave "3" with the aim to reach the resistance area 39156.49.
GOLD (4H): Long to resistance area of 2358.71. ➡️Dear Colleagues, I suppose that the wave "4" of the higher order is completing its movement. I expect a possible update of the minimum and reaching the area of 2281.89 or the beginning of the upward movement to the resistance area of 2358.71.
You have to talk about where you place your STOP, and the expected/actual/target PROFIT. Then compute the reward: risk ratio. It should be > 2. If not, the wave thing is useless.
S/he is not running a signal service, and s/he’s not teaching anyone, therefore s/he doesn’t need to disclose anything to anyone.
Not at all. The goals have not been met. But the second strategy is +5%. No one will be interested in it. It is based on a regular daily pinbar) I just watch about 10 instruments every day on the daily timeframe and look for pin-bars) Strict risk management, but no abstruse strategy, indicators, figures, waves and so on. And it works)
Thank you for your understanding. The whole point is that trading (real trading) is very flexible and changeable.... You need to constantly change or trailing sl or tp. Cancel and add new orders, close early and open opposite orders. The market changes and you have to react. This is a process that does not fit into a simple “where is your SL and TP”. Let everyone decide for himself, and I just want to share the analysis and hear criticism of the analysis itself. Well, there are exceptions, of course... for example, daily pinbars require a clear SL and TP. But everyone can easily find it on the chart himself. People just don't have patience to trade them.
(UPDATE) DJI (4H): Long to the resistance area 39156.49. ➡️There is still a high probability of corrective movement in the lower order wave “2”. The 37914 level is slightly below the 50% Fibonacci Level, but it fits the wave theory.