What i've drawn Yoohoo are TL's, not a pattern, or a coiling triangle compressing price action, just trendlines. That doesn't mean that i won't take what you've shown onboard, but, i do stand by, that those TL's are correct, now lets see how it all develops. Up TL is currently broken on the fourth hit....
yes they are correct - but classical. Depends on how aggressive you want to be. I use very aggressive technique and I also use slower classical TL's but most times you'll be late to the party if you only use a conservative technique. Both classical and EMTL have fulfillments. When you use classical in a small TF you'll be way behind on confirmations but it will work.
How you described them :classical, is perfect, i wish i thought of that term, yes and obviously there's a lot more to plain, simple, and predictable, only sometimes it is, just to throw us out a bit. I must admit to finding yesterdays price action a lot more predictable, even though it was choppyToday i almost pulled the trigger on the flying knife...but "almost" doesn't count.
actually it does count - seeing it is a big step forward! Seeing it in action makes you want to use it next time and almost all traders are scared stiff of it. It's the safest technique with the biggest RR but most don't even know it exists.
Hello Guys and CF Trying to make equations to day trade or near day trade while taking the pivot value for the expected (average Fair Value) Been Hard here are the fair values for the next 40 days The price distributions around those averages have an error or STDEV... but still not good enough to trade with at current Account Margin. EUR/USD 1.5156 AUD/NZD 1.2942 AUD/CHF 1.0468 GBP/USD 1.9585 USD/CHF 1.0722 AUD/USD 0.9767 EUR/JPY 165.1968 CHF/JPY 101.3275 EUR/AUD 1.5497 EUR/CAD 1.5019 GBP/CAD 1.9279 GBP/AUD 2.0011 placing orders using the previous close combined with these Fair Values give me these as the next entry... Placing them well ahead of time...and adding with changes in previous close(s) as time goes by...should do well...on paper at least EUR/USD 1.6060 1.4628 AUD/NZD 1.3177 1.2273 AUD/CHF 1.0738 0.9432 GBP/USD 2.0111 1.9154 USD/CHF 1.1187 0.9781 AUD/USD 0.9935 0.9276 EUR/JPY 171.5872 158.8421 CHF/JPY 105.5826 99.5002 EUR/AUD 1.6682 1.5309 EUR/CAD 1.6384 1.4540 GBP/CAD 2.0292 1.8974 GBP/AUD 2.1126 1.9709
So I have been taking your suggestions seriously and working hard a a bunch of stuff. I worked at trendlines for a while and now im incorporating PA. I have a book on japanese candle stick and I had a question for you guys. On the five or even one minute chart do you guys blend candles to get formations? Like today on the eurusd you see it bounce of of resistance and on the fifteen minute you have a shooting star indicating a reversal but on the five minute I didn't see the sign until an hour and a half later when you got the key reversal bar. My question is do i take the signal from the five by blending candles or do I wait until the signal is readable on this time frame by a single candle.
the general answer is yes the specific answer is - post the chart and I or someone will confirm your selection
It only put one of the charts. sorry. ug. i then went on to put up the same chart again. Now i can't put up the 15 minute. it just showed the shooting star really well.