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TW - triangle wave.
DMR - decision making price range.
Var - variant, scenario
Alt. - alternative
SL - stop loss
TP - take profit
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We DO NOT actually know if brown 2.1 marker is already in place or not. From this come two variants of further structure development. Have a look at Weekly chart. Basic scenario pushes price upward to brown 2.1 marker.
Alt. scenario has already determined sell stop order parameters by placement of 2.1 marker. As I'm not going to make a choise I trade both scenarios for the aim a real one will cover all losses entailed from fault var. From view of practical trading it means that I have to place sell stop order at the level of brown 1.1 marker and, then, adjust SL in accordance with real variant. Well, sell stop 1.2655 Sl 1.3305 for now.
Next, Daily chart. Here we have rising red TW within falling brown wave. Skip it.
Unlike basic scenario alt. var. strongly recommend to sell red wave. I placed an order parameters of which are completelly matched with the brown wave order parameters. It's not a dublicate becouse further it will be followed up in accordance red wave markers.
Chart H4. In basic variant blue wave is rising to the upper red wave marker. I entered blue wave at 1.2825 and now I am waiting blue low marker in order to shift SL up to its level.
Alt.var. implies falling blue TW which is still far from correct view (zigzag sum symmetric structure) but quite acceptable as a GBPUSD peculiarity. Blue 2.2 marker is highly probable not placed yet. This means that sell stop order might have undetermined SL level but has to be placed at 1.2695 and preliminary SL at 1.3045.
Chart H1. I entered rising grey TW. Wait for grey 2.1 marker to shift SL under its level.
As for alt. var. grey wave is not allowed to trade long. Ignore it.
Chart M15. A downward green TW is developing within rising grey wave. Obviously green wave is not available to trade in short. We have to wait buy setup. Keep an eye.
Alt. var. at this time-frame copies the basic one. This means that we do not trade it.
TW - triangle wave.
DMR - decision making price range.
Var - variant, scenario
Alt. - alternative
SL - stop loss
TP - take profit
_________________________________
We DO NOT actually know if brown 2.1 marker is already in place or not. From this come two variants of further structure development. Have a look at Weekly chart. Basic scenario pushes price upward to brown 2.1 marker.
Alt. scenario has already determined sell stop order parameters by placement of 2.1 marker. As I'm not going to make a choise I trade both scenarios for the aim a real one will cover all losses entailed from fault var. From view of practical trading it means that I have to place sell stop order at the level of brown 1.1 marker and, then, adjust SL in accordance with real variant. Well, sell stop 1.2655 Sl 1.3305 for now.
Next, Daily chart. Here we have rising red TW within falling brown wave. Skip it.
Unlike basic scenario alt. var. strongly recommend to sell red wave. I placed an order parameters of which are completelly matched with the brown wave order parameters. It's not a dublicate becouse further it will be followed up in accordance red wave markers.
Chart H4. In basic variant blue wave is rising to the upper red wave marker. I entered blue wave at 1.2825 and now I am waiting blue low marker in order to shift SL up to its level.
Alt.var. implies falling blue TW which is still far from correct view (zigzag sum symmetric structure) but quite acceptable as a GBPUSD peculiarity. Blue 2.2 marker is highly probable not placed yet. This means that sell stop order might have undetermined SL level but has to be placed at 1.2695 and preliminary SL at 1.3045.
Chart H1. I entered rising grey TW. Wait for grey 2.1 marker to shift SL under its level.
As for alt. var. grey wave is not allowed to trade long. Ignore it.
Chart M15. A downward green TW is developing within rising grey wave. Obviously green wave is not available to trade in short. We have to wait buy setup. Keep an eye.
Alt. var. at this time-frame copies the basic one. This means that we do not trade it.
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.