Angat wrote:Morning, I see this thread has been busy again. On the GBPUSD, its created a new high, its this a level 3 push or a stop run or even both?
Yesterdays GU move was an intraday trending move, also known as an intentional move. They can often be identified when they cut the London high and stay above it for more then 30 minutes. These moves usually won't reverse for three sessions or half way through the third session after the move started.
So you think it's going to rise for 2 more sessions?
I follow a 3 day cycle from the last peak low, which should bring us to a new peak high level 3 today....
Interesting as I see several GBP pair at the 3rd level from the last peak low...
CJ
Mon Capitaine,
How do you identify cycles? Weekly, Daily, 4H..
I guess then you trade 15 min TF (RTT, M,W, 3 level) in rythme with those cycles.
Merci
3 day cycles are 3 days or rise or 3 days of falling price.
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
lhDT wrote:Forming RRT on cable (still 10 min to go so ...)
I will maybe add a bit to my short.
I'm sitting on my hands till they throw up that second leg. Then I shall join you. They love getting me aboard early. Much easier to load a little heavier if I wait a bit. I am always concerned I will miss the peaks. Classic.
Added at the close and locked just in case.
CJ, do u lock your profit once you stack in or something ?
On this time frame, I take care of it myself....I don't set stops....
If it's a D1 or H4 trade I'm looking to carry for days, yes, I'll lock profit and take "free" trades....
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
lhDT wrote:Forming RRT on cable (still 10 min to go so ...)
I will maybe add a bit to my short.
I'm sitting on my hands till they throw up that second leg. Then I shall join you. They love getting me aboard early. Much easier to load a little heavier if I wait a bit. I am always concerned I will miss the peaks. Classic.
Added at the close and locked just in case.
CJ, do u lock your profit once you stack in or something ?
Careful Lio, there hasn't been a stop hunt as of yet.... usually have range expansion, stop hunt then the move ...
CJ
Last edited by Captain Jack on Fri Mar 15, 2013 8:47 am, edited 1 time in total.
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
Its all about eliott wave theory that I never bothered to learn properly. Price moves in waves of 5. 3 trend waves with 2 counter trend waves. These moves happen on all timeframes and you will find moves within moves.
It seems like everything is coming together now.
Asian range + how they expand it if its small.
Stop runs
trapping volume
Ws & Ms patterns / RTT
Eliott wave theory - main moves of 3.
Potential session based reversals
I think I might write everything I have learnt or trying to learn in a word document, to help it sink in.
lhDT wrote:Forming RRT on cable (still 10 min to go so ...)
I will maybe add a bit to my short.
I'm sitting on my hands till they throw up that second leg. Then I shall join you. They love getting me aboard early. Much easier to load a little heavier if I wait a bit. I am always concerned I will miss the peaks. Classic.
Added at the close and locked just in case.
CJ, do u lock your profit once you stack in or something ?
Careful Lio, there hasn't been a stop hunt as of yet.... usually have range expansion, stop hunt then the move ...
CJ
Yep. Locked and first sign of strength I will close to reshort higher.
thanks !
Angat wrote:Its all about eliott wave theory that I never bothered to learn properly. Price moves in waves of 5. 3 trend waves with 2 counter trend waves. These moves happen on all timeframes and you will find moves within moves.
It seems like everything is coming together now.
Asian range + how they expand it if its small.
Stop runs
trapping volume
Ws & Ms patterns / RTT
Eliott wave theory - main moves of 3.
Potential session based reversals
I think I might write everything I have learnt or trying to learn in a word document, to help it sink in.
Don't waste your time....Elliot wave has nothing to do with this....
CJ
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
EURNZD. Interesting chart. Almost identical to that GBPUSD chart the fox tricked me on. But could set up very nicely with a 3 move push. Tap the High, sell it.
On the GBPUSD, its created a new high, its this a level 3 push or a stop run or even both?
