We have two scenarios both of which are must be traded to stay with market. We don't need to develop sufisticated models to rise forecasts probabilty. At least, the goal is NOT probability but balance growth. Going with trend will costs some money - the sum of wrong scenario SLs. However, it makes sence to ride the correct one with complete deals portfolio.
Yes, market may take long period to make a choise. Often, it involves money losses. It's easy to be a trader when everything goes well, you drive a trend and just cut cuppons. It's hard to stay a trader when you have to manage your losses while following your trading approach. This is what we are doing now. Let's go.
Basic scenario.
Weekly chart, green TW. Rising green wave is not available to trade long. Skip it.
Daily chart, brown TW. Falling brown wave is not available to trade short. Skip it.
Chart H4, red TW. Rising red wave is not available to trade long. Skip it.
Chart H2, blue TW. Rising blue wave is already entered at 1.1375. Price is within pips from scenario cancelation by drop bellow 1.1300. To hold the depicted variant price has to reversal from the first hours in Monday. Otherwise, alternative scenario becomes the basic one.
Chart H1, grey TW. If price follows the basic scenario then we have completed setup to trade grey wave in long via placement an order at 2.1 marker crucial level: buy stop 1.1450 SL 1.1310. The order is cancelled if price drops below 1.1300.
Chart M15, green TW. Again, if market follows the basic scenario we may trade green wave by placement an order: buy stop 1.1370 SL 1.1310.
Alternative scenario.
Weekly chart, green TW. Rising green wave is not available to trade in long. Ignore it.
Daily chart, brown TW. Falling brown wave is not available to trade short. Ignore it.
Chart H4, red TW. Falling red wave could be sold at 2.1 marker level buy I missed this opportunity. I decided to enter the wave if price falls below 1.1300 and place an order: sell stop 1.1295 SL 1.1815.
Chart H2, blue TW. Here we have the secon falling zigzag which we may trade in short by the following order placement: sell stop 1.1295 SL 1.1500.
Chart H1, grey TW. Falling grey wave is already entered and now I'm waiting another grey zigzag to shift SL to the next upper marker.
Chart M15, green TW. I had to enter falling green wave on Friday's evening but didn't do that due to the fact of Friday. I'd prefer to open the deal from Monday morning if price continues to renew lows. Preliminary order is: sell stop 1.1310 SL 1.1360.
Yes, market may take long period to make a choise. Often, it involves money losses. It's easy to be a trader when everything goes well, you drive a trend and just cut cuppons. It's hard to stay a trader when you have to manage your losses while following your trading approach. This is what we are doing now. Let's go.
Basic scenario.
Weekly chart, green TW. Rising green wave is not available to trade long. Skip it.
Daily chart, brown TW. Falling brown wave is not available to trade short. Skip it.
Chart H4, red TW. Rising red wave is not available to trade long. Skip it.
Chart H2, blue TW. Rising blue wave is already entered at 1.1375. Price is within pips from scenario cancelation by drop bellow 1.1300. To hold the depicted variant price has to reversal from the first hours in Monday. Otherwise, alternative scenario becomes the basic one.
Chart H1, grey TW. If price follows the basic scenario then we have completed setup to trade grey wave in long via placement an order at 2.1 marker crucial level: buy stop 1.1450 SL 1.1310. The order is cancelled if price drops below 1.1300.
Chart M15, green TW. Again, if market follows the basic scenario we may trade green wave by placement an order: buy stop 1.1370 SL 1.1310.
Alternative scenario.
Weekly chart, green TW. Rising green wave is not available to trade in long. Ignore it.
Daily chart, brown TW. Falling brown wave is not available to trade short. Ignore it.
Chart H4, red TW. Falling red wave could be sold at 2.1 marker level buy I missed this opportunity. I decided to enter the wave if price falls below 1.1300 and place an order: sell stop 1.1295 SL 1.1815.
Chart H2, blue TW. Here we have the secon falling zigzag which we may trade in short by the following order placement: sell stop 1.1295 SL 1.1500.
Chart H1, grey TW. Falling grey wave is already entered and now I'm waiting another grey zigzag to shift SL to the next upper marker.
Chart M15, green TW. I had to enter falling green wave on Friday's evening but didn't do that due to the fact of Friday. I'd prefer to open the deal from Monday morning if price continues to renew lows. Preliminary order is: sell stop 1.1310 SL 1.1360.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.